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EuroControl Sees Half (15,000) Of All European Flights Grounded Today
The air travel situation in Europe is getting dire. EuroControl updates that while yesterday 8,000 out of 28,000 thousand flights were cancelled, today the outlook is even worse with half of all flights, or about 14-15,000, to be grounded. And as the ash cloud moves eastward, more countries are expected to restrict airspace: EuroControl hopes and Munich, Zurich and Geneva will remain open but it is increasingly risky even they will be shut down. This is likely going to cause havoc for travel plans and for airline companies top and bottom lines. What it will also do is provide a very convenient "one-time charge" excuse at earnings time, when airlines will all blame quarterly weakness on the volcanic eruption.
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Damn the Fed for pumping liquidity underneath an active volcano. Where is Ron Paul? Surely he can stop the eruption...
Image: Paul and Bernanke struggling on the lip of the crater...'drop that wireless keyboard!'
I see quite a different scene:
Ben eying Paul from the shadows and then leaping forward to snatch the prize, yelling "My Precious" as he plummets into the yawning pit. The contact of the fiat anti-matter Precious with true fire, incinerates world-wide fiat and the anti-hero Ben in an instant. The world is saved.
/sigh/
The volcano wants a sacrifice, it must be appeased.
I like that concept. I assume that 33 Liberty St. would be Sauron?
Best of all, it conserves the virgins.
Europe should ask Iceland for some restitution for this mess.
they are just testing their defense system
If this turns into a long duration event it could have serious economic impact on the festering sore known as Euroland.. black swans anyone?
Good for cruise lines who can use ships for Euro-USA routes?
Not to mention our own BLS which will spin a poor April labor report as the fault of the Easter/Chavez/Volcanic-magma-spewing reporting period.
I for one will be scanning each and every US government economic report for any mention of volcanoes. If one is sighted, I will declare that the Ponzi has officially jumped the shark.
http://en.wikipedia.org/wiki/Jumping_the_shark
Get with the programme, dude. Jumping the shark has nuked the fridge.
meanwhiel the FICC money laundering oepration continuing without a hitch. Seems everyone is having a trading orgy? So if the Asian, Euro and US ibanks are recording blowing it out - who is on the other side?
This is actually a very bullish development all horrible economic releases in the future can be blamed on this !
So this is a buy buy buy specially today that we are plunging some tenths of a percent. Market groserely undervalued alert !
Great for car rental services, well at the beginning we thought they had legalized weed up there and are now trying to smoke out the British and Dutch creditors.
Off Subject
Tyler and Marla, probably nothing but worth watching. WSJ has a comment section with every article. This morning the comment sections are all not working. I only bring this up because WSJ is the most widely read news source and I would imagine that thousands and thousands of regular joe's read the comment sections. The comment sections were without a doubt growing more and more bearish and the comments were educating more people about the truth compared to what the articles were saying. Zerohedge links were popping up more and more and I've seen Reggie Middleton comment there a few times. This may only be a temporary technical glitch but I thought that it was worth bringing to your attention.
Thanks
Great. Please get a few more sheeple to read on some independent media instead of reading the crap that Barrons (pump pump pump) & WSJ dish out.
Meanwhile, lots of sheeple are jumping into the 401k equity game again.
World aviation should have blimp, propeller backups for such incidents.
Well folks can use the govt subsidised rail systems then. I like their rail system - atleast one good use to public money.
Meanwhile, Brits & Dutch are fuming at the Icelanders one more time !!
This is insurance fraud. This has nothing to do with the "dangers" of volcanic ash. How many domestic US flights were cancelled after Mt. St. Helens?
Insurance companies have just been pumped full of liquidity. Time to take some.
It reminds me of teachers unions going after a newly passed assesment.
I recommend reading up on the subject.
From Wikipedia:
Volcanic ash damages machinery. The effect on jet aircraft engines is particularly severe as large amounts of air are sucked in during operation, posing a great danger to aircraft flying near ash clouds. Eruptions which are charged with gas start to froth and expand as they reach the surface, causing explosive eruptions sending fine ash up into the atmosphere; if it reaches high altitudes—where aeroplanes cruise—the ash can be dispersed around the globe[17]. Very fine volcanic ash particles (particularly glass-rich if from an eruption under ice) sucked into a jet engine melt at about 1,100 °C, fusing onto the blades and other parts of the turbine (which operates at about 1,400 °C). They can erode and destroy parts, and cause jams in rotating machinery. Ash can also " blind" pilots by sandblasting the windscreen requiring an instrument landing, damage the fuselage, and coat the plane so much as to add significant weight and change balance. Propellor aircraft are also endangered.
The effect on the operation of a jet engine is often to cause it to cut out—failure of all a plane's engines is not uncommon. The standard emergency procedure when jet engines begin to fail had been to increase power, which makes the problem worse. The best procedure is to throttle back the engines, and to lose height so as to drop below the ash cloud as quickly as possible. The inrush of cold, clean air is usually enough to cool, solidify, and shatter the glass, unclogging the engines.
There are many instances of damage to jet aircraft as a result of an ash encounter. After the Galunggung, Indonesia volcanic event in 1982, a British Airways Boeing 747 flew through an ash cloud; all four engines cut out. The plane descended from 36,000 feet (11,000 m) to 12,000 feet (3,700 m), where the engines could be restarted.[18]
In April 2010 airspace across much of northern Europe was closed—which was unprecedented—due to the presence of volcanic ash in the upper atmosphere from the eruption of the Icelandic volcano Eyjafjallajökull.[19][20]
From what I'm reading, this thing is way bigger than Mt. St. Helens. IMHO, volcanic ash is no laughing matter and they are right to shut down the airspace. I think most people are having a hard time believing that there are things they simply cannot control. Just goes to show the hubris of us humans in this "modern" age. We think we have it all figured out and can have it any which way we want - kinda like our financial managers ala the Fed, US Govt. etc. Well, nature is again reminding us who's really incharge. There is too much complacency and too little disaster preparation in much of the world today. A similar fate awaits our financial markets IMO - one day everybody is happily trading little bits of worthless paper; the next day - BOOM - it all goes to shit.
From what I'm reading, this thing is way bigger than Mt. St. Helens. IMHO, volcanic ash is no laughing matter and they are right to shut down the airspace. I think most people are having a hard time believing that there are things they simply cannot control. Just goes to show the hubris of us humans in this "modern" age. We think we have it all figured out and can have it any which way we want - kinda like our financial managers ala the Fed, US Govt. etc. Well, nature is again reminding us who's really incharge. There is too much complacency and too little disaster preparation in much of the world today. A similar fate awaits our financial markets IMO - one day everybody is happily trading little bits of worthless paper; the next day - BOOM - it all goes to shit.
Prepare for the Volcano recovery tax shortly.
with 85 dollar oil and no flights able to take off
I am extremely bullish on european airline stocks.
Who needs to actually fly when you can just buy their stock
I wonder If Iceland will have a Global climate change tax this year after all this Volcano must mean they are seriously above their CO2 emission quota for this year
Well this certainly gives the Greeks a timely excuse for the drop in tourism.
Oh no, how can I get all these undeclared fiat hot off the press dollars outta the US to Europe now?
Electronic transfers can't create fiat physical dollars, only electronic fiat dollars.
Damn QEII takes wayyyyyyyyyyyyyy too long.
Peace, Bennie
Never mind the travel and the micro effects of Mother Nature. We are missing the Macro effect... COLDER Weather. A nice dagger to the heart of Global Warming...if they were missing those ice sheets in the Alps, this should more than reverse the process. My guess is a jump in fuel prices due to the freaking cold weather that will be upon Europe and probably beyond. Stock up on the spring buy for pellet fuel.
Man, these chemtrails are killing me.
"EuroControl"? I've been watching 60's spy TV: I Spy, Man From U.N.C.L.E, Mission Impossible. Where can I join?
About airline finances: this is only kind of natural disaster that does not require vast repairs, and thus does not bump the GDP.