The air transport industry is experiencing major disruption of services following the Iceland volcanic eruption.
IATA's initial and conservative estimate of the financial impact on airlines is in excess of US$200 million per day in lost revenues.
In addition to lost revenues, airlines will incur added costs for re-routing of aircraft, care for stranded passengers and stranded aircraft at various ports.
IATA has set up its crisis center in Montreal and is closely coordinating with Eurocontrol and European air navigation service providers.
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