An Iceland Volcano Is The Latest Airline Industry Woe Apr 10
- ID: 1929058
- April 2010
- Region: Iceland
- Standard & Poors
The effects of recessions, terrorism, war, and epidemic disease have pummeled the airline industry over the past decade. We can now add to the list of calamities a volcano in Iceland, whose ash has prompted European authorities to ground most flights in that region. The International Air Transport Association (IATA), the global airline industry trade group, said recently that airlines worldwide were losing $250 million in revenues a day as a result of the grounding. The effect is worst for European airlines, with a material, but much lesser, effect for U.S. airlines. Delta Air Lines Inc. (B/Negative/--), the largest U.S. airline, is also the largest in terms of revenues from trans-Atlantic operations, a high proportion of which relate to European...
Companies mentioned in this report are:
- American Airlines Group Inc.
- American Airlines Inc.
- United Airlines Inc.
- Delta Air Lines Inc.
- United Air Lines Inc.
- US Airways Group Inc.
- United Continental Holdings Inc.
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