Flight Cancellations Due To Volcano Costing Airlines $200 Million Per Day

The shutdowns on air travel imposed after a volcano in Iceland began erupting last week have stranded millions of travelers and are costing the aviation industry at least $200 million a day.

The International Air Transport Association offers that estimate, and the European Union transport commissioner said that "it is clear that this is not sustainable" and it won't be feasible to "just wait until this ash cloud dissipates."

The EU predicts European air traffic could return to about 50 percent of normal levels Monday if weather forecasts confirm that skies over half the continent are emptying of the volcanic ash.

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