To add onto my earlier post on the topic of "Uncertain trading week ahead", we should not forget the current European skies standstill due to the Icelandic volcanic eruption. The Iceland volcano ash cloud, costing the airline industry US$200 million per day, could just push the European airliners to the brink. Other airliners could see their balance sheets affected after several flights to and fro Europe cancelled. Airliners have also been providing daily monetary aids and not since vowed not charging carry-baggage fees for passengers travelling to and fro Europe. A total of 63,000 flights were cancelled since last Thursday.
The current Europe sky shutdown is the longest and widest since World War 2.
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