IATA says volcano impact on airlines bigger than 9/11

PARIS, April 19 (BestGrowthStock) – The International Air Transport
Association (IATA) said on Monday European governments’ response
to the volcano crisis was inadequate and estimated its economic
impact to be greater than the 2001 Sept. 11 attacks.

Giovanni Bisignani, head of the IATA airline industry body,
estimated airline revenue losses were now reaching $250 million
a day, up from an earlier estimate of $200 million on Friday.

Bisignani called for urgent action to safely re-open
airspace and called for a meeting of the International Civil
Aviation Organization, the United Nations aviation body.

“We must move away from this blanket closure and find ways
to flexibly open air space, step by step,” Bisignani told a news
briefing in Paris.

“We have to make decisions based on the real situation and
not on theoretical models. They (the authorities) have missed
opportunities to fly safely,” he said.

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(Reporting by Tim Hepher and Matthias Blamont)

IATA says volcano impact on airlines bigger than 9/11