Airline Stock Lower on Iceland’s Ash Fear
Monday, May 23, 2022 9:57 AM

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Shares of US airlines and travel operators fell Monday as fear grew that the weekend eruption of Iceland’s Grimsvotn volcano could lead to widespread disruption in flight schedule, like that of April 2010, when airlines were forced to ground flights and had to look after the stranded passengers. The efforts of looking after the stranded passengers, turned out to be very costly and it showed in the earnings of the airline companies.

Shares of Delta Air Lines Inc. (NYSE: DAL) were trading lower by 0.03 points, or 0.26 percent to $11.48 a share on Monday. United Continental Holdings (NYSE: UAL) lost 0.15 points, or 0.57 percent to $27.35 in the initial hour of trading. US Airways Group Inc. (NYSE: LCC) was down by 0.08 points, or 0.79 percent to $10.09, while AMR was trading at $6.58 a share, down 0.08 points, or 1.20 percent on Monday.

The volcano erupted late Saturday, put Europe on high alert as a billowing ash cloud drifted towards Scotland and threatened to shut down airports across northern edge of the continent. Northern Europe is looking to get affected with this natural phenomenon, even though experts say that it will not have the same impact as the last year’s volcano eruption, which caused a six days travel chaos and left thousands of people stranded across the region.

 

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  • Airline Stock Lower on Iceland’s Ash Fear May 23, 2022 09:57 AM

    Shares of US airlines and travel operators fell Monday as fear grew that the weekend eruption of Iceland’s Grimsvotn volcano could lead to widespread disruption in flight schedule, like that of April 2010, when airlines were forced to ground flights and had to look after the stranded passengers. The efforts of looking after the stranded passengers, turned out to be very costly and it showed in the earnings of the airline companies.

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