The unprecedented no-fly zone currently in force across much of Europe has already caused the greatest chaos to air travel since the Second World War. Thousands of flights have been canceled or postponed with millions of travel plans affected. It has been estimated that shutting down the UK’s airspace alone over the weekend could cost airlines over 100 million EUROS, with the share price of some leading airlines already taking a hit.
The wider economic consequence to our ‘just-in-time’ society is incalculable at this stage given the disruption to holidays, business plans and indeed the wider business supply chain. However, the global cost of the disruption will surely ultimately result in a cost of billions rather than hundreds of millions of EURO's.
For more: Why the Icelandic volcano eruption could herald more disruption - Times Online
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