The 2010 Volcanic Ash Cloud and Its Financial Impact on the European Airline Industry

Abstract

Last April, European air traffic was heavily disrupted by the volcanic ash cloud generated by the eruption of the Icelandic volcano Eyjafjallajokull. A (partial) shortcut to the all but impossible task of estimating all those impacts is an analysis of financial markets. In this paper, we will provide a first basic estimate of some of the economic effects of the Eyjafjallajokull volcano’s eruption, focusing on the airline industry, together with some evaluations of potential gainers, namely alternative transport industries.

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