the icelandic valocano

The Icelandic volcano crisis has wreaked havoc on passengers and airports across Europe, and it may drive a few European airlines into bankruptcy. But analysts expect the crisis to cause far less economic damage to carriers in the United States.
The International Air Transport Association said Wednesday that the ash crisis has led to the cancellation of 100,000 flights and cost the world's airlines an estimated $1.7 billion. The group said airlines lost $400 million per day between Saturday and Monday, the period when air traffic disruptions were greatest.
The crisis could, however, delay the modest recovery that airline officials had hoped for this year. Global airlines are expected to lose $2.8 billion in 2010, compared with $9.4 billion lost last year. European carriers were expected to lose $2.2 billion, the worst result of any region, according to an IATA projection from March.
In the current crisis, both U.S. and European airlines will lose money because they depend heavily on flying between the United States and Europe for revenue and profits. Transatlantic routes are among the industry's most lucrative because of the high number of first-class and business-class customers.