No, not the one from April 2010 whose name no one could pronounce (Eyjafjallajokull) however a larger one (Bardarbunga) may now be heating up (pardon the pun).
In what the Meteorological Office describes as an "intense earthquake swarm," scientists registered some 2,600 earthquakes between early Saturday morning and Monday evening.
And after the strongest earthquake since 1996 was measured in the area early Monday, an orange aviation alert was posted (2nd highest alert) by Icelandic authorities -- indicating "heightened or escalating unrest with increased potential of eruption."
In 2010 the Eyjafjallajokull eruption forced the cancellation and diversion of thousands of flights per day at the peak of the problem due to ash that can damage a plane's delicate engines, while the ventilation holes can become clogged and stall the aircraft. Over 10 million travellers were stranded around the world, waiting for winds to shift.
"It was causing problems for millions of passengers, the airlines themselves were losing lots of money because they could not fly," Paul Charles, former director of communications for Virgin Atlantic and Eurostar, told CNN.
Six European airports were forced to close United Airlines at the time in 2010, estimated a loss of $1.6 billion in revenue. Nothing to shake a stick at for six days of interrupted service.
UAL stock at the time, and the Dow Jones Airline Index $USDJAR suffered a 25% correction in the months which followed.
While aviation officials in Iceland are attempting to reassure the public that they are now better prepared for such an incident compared to 2010, not only is the volcano larger, but the one thing that aviation officials cannot control is the direction or strength of the wind.....which would carry the ash across flight paths.
Clearly this is airline food for thought if you're long any of the air carriers. Especially those who travel overseas.
Hat tip The Weather Channel and CNN
Full disclosure I am currently holding DAL puts.
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