That’s a question with no easy answer. Last time there was a similar eruption it ran for over a year which isn’t exactly a reassuring precedent.
That was way back in the 1820s though and I suspect that it didn’t make a whole lot of difference to activities within Europe even for those that were aware of it. This time it’s quite different and we find ourselves forced back into the transport technologies of the 1800s once more. Thus the many daytrips made for business and pleasure every day throughout Europe have all been cancelled. No more is it possible to get from London to Prague and back in a day, or at least not for a while anyway.
Out too probably are those relatively long distance holiday flights. For those that haven’t booked already, I suspect that consideration of a week on a Greek island is probably out for this year even if the dust does clear up which I’m sure is less than welcome news in Greece in its current economic woes. As far as the UK goes, I suspect that holidays in France will be the order of the day or at least in parts of France that are relatively easy to get to by car. Some people do drive all the way from England to southern Spain for their holidays every year and there will be more of them but it’s probably safe to say that the numbers going on the cheap flights to the same places will be severely curtailed: it just ain’t viable to drive to t south of Spain and back within the confines of a one week holiday.
If it goes on for the months that seems likely it would be easy to see some travel insurance companies going bankrupt unless they can get out of payments through an “act of God” provision. Will the budget airlines survive at all? They don’t have to pay out for the hotels but they do have to pay out for a lot of operational costs that aren’t easily cut quickly and despite what people may think of the rip-off tactics of, say, Ryanair those tactics are merely a sign that they’ve not been doing overly well economically in this recession: add an extended grounding and it wouldn’t be a big surprise if they didn’t survive.
Holiday cancellations are a shame but Europe has become quite integrated over recent years and it’s business that will be hit quite hard were the grounding period to become quite extended. Clearly holiday companies will be the most obvious ones to feel the pain but many other companies have operations spread across Europe with corresponding meetings requiring air travel on a regular basis. It’s one more blow that we could all do without.
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