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23-May-2011 2:26 PM

New ash cloud threat for European aviation

Analysis

An ash plume from the Grimsvötn volcano in Iceland, which began erupting on 21-May-2011, could reach Norway today and UK airspace later this week, according to the Iceland Met Office, quoted by Bloomberg.

Summary
  • Grimsvötn volcano in Iceland has erupted, potentially affecting airspace in Norway and the UK.
  • The eruption is not currently impacting European or trans-Atlantic flights, according to EUROCONTROL.
  • The situation is expected to remain stable for the next 24 hours, with airlines being kept informed.
  • The eruption of another volcano in Iceland in 2010 caused a six-day closure of European airspace.
  • European airline shares showed mixed performance following the news of the eruption.
  • The daily share price movements of selected airlines on 23-May-2011 were not specified.

EUROCONTROL stated: "There is currently no impact on European or trans-Atlantic flights, and the situation is expected to remain so for the next 24 hours", adding "aircraft operators are constantly being kept informed of the evolving situation".

The eruption of another volcano in Iceland in Apr-2010 closed European airspace for six days.

European airline shares were mixed on Friday.

Selected EAD daily share price movements (% change): 23-May-2011

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