May 11 (Bloomberg) -- The volcanic ash cloud that shut down U.K. airspace for six days last month may have cost the travel industry more than 1 billion pounds ($1.5 billion), according to Peter Long, the head of tour operator TUI Travel Plc.
TUI, Europe’s largest tourism company, said today that operating profit will be reduced by about 90 million pounds because of canceled holidays, as well as the cost of looking after stranded customers and getting them home. Also today, EasyJet Plc, Europe’s second-biggest discount airline, said the disruption to flights cost it 50 million pounds to 75 million pounds.
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