Airlines group says industry losing at least $200 million a day from volcano disruptions

Airlines: Volcano costing industry $200 mln daily

GENEVA — World airlines say they are losing at least $200 million in revenue a day because of disruptions caused by a cloud of volcanic ash drifting across Europe.

The Geneva-based International Air Transport Association says airlines will also face additional costs for rerouting aircraft and caring for stranded passengers and planes.

The group representing 230 airline companies says it has set up a crisis center in Montreal, Canada, to help carriers and air traffic controllers coordinate their efforts.

IATA said the losses were an “initial and conservative estimate.”