Video Title: (News Update British Airways Rude Atlantic Expected To Be Hurt Most By Volcanic Eruption)
Video Duration: 1:04
From: TradeTheTrend
Category: News and Politics
british airways nyse:bay, rude atlantic airways, and carriers that rely on long-haul business travel for earnings will be hurt the most by air travel being shut down due to the eruption of an icelandic volcano, according to a bloomberg report. the centre for asia pacific aviation said that airlines may lose s1 billion if airports are closed through the weekend. british airways canceled all flights today as the uk airspace was restricted until 1 am tomorrow at least. the carrier has daily revenue of about 24 million pounds. global chair for transport and infrastructure at kpmg ashley steel said in an interview, "airlines will incur their biggest losses in the trans- atlantic business-penger category. for an airline like ba, every day of their fleet being grounded is likely to cost tens of millions of pounds. the impact on economy-cl revenues is likely to be diluted because people will change their bookings and eventually still fly."
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