[ti:Adding Up the Costs of Lost Travel in Europe]
[ar:Steve Ember]
[al:Economics Report]
[by:www.21voa.com]
[00:00.00]This is the VOA Special English 
[00:03.25]Economics Report.
[00:05.09]Air traffic over much of Europe 
[00:07.93]came to a halt for six days 
[00:10.44]because of the huge cloud of ash 
[00:13.77]from a volcano in Iceland. 
[00:16.66]Now the economic costs are still 
[00:19.79]being counted as airlines try to
[00:22.78]get everyone to where they were going.
[00:25.68]At its worst, the crisis affected 
[00:28.86]nearly a third of world air travel. 
[00:32.05]About one hundred thousand 
[00:34.38]flights were cancelled or delayed.
[00:37.52]The International Air Transport 
[00:40.21]Association estimated the cost 
[00:42.99]to airlines at nearly two billion dollars.
[00:47.22]But that does not include costs
[00:49.61]like the tons of flowers that growers 
[00:53.44]in Kenya and Israel had to destroy. 
[00:57.32]Or all the fruits and vegetables 
[00:59.36]that could also not be flown to Europe.
[01:03.04]Other businesses that depend 
[01:04.68]on air travel, including hotels 
[01:07.87]and vacation places, also suffered. 
[01:11.65]The crisis affected airports 
[01:14.25]from Washington to Pakistan.
[01:16.98]The crisis came just as Europe 
[01:19.72]is trying to recover from its worst 
[01:22.06]recession in generations.  
[01:25.84]Greece-- a popular travel place  
[01:28.40]-- continues to face a debt crisis that 
[01:32.03]has sharply raised its borrowing costs.
[01:35.27]The United States halted air travel 
[01:39.15]for three days after the terrorist 
[01:42.20]attacks in two thousand one. 
[01:44.68]The travel ban this past week 
[01:47.87]lasted twice as long 
[01:49.76]in some European countries.
[01:52.45]Critics accused European air transport 
[01:56.03]officials of being slow to react, 
[01:58.72]then overreacting 
[02:00.91]to the possible risk to airplanes. 
[02:04.29]And there could be more delays 
[02:06.53]as the Eyjafjallajokull volcano 
[02:09.67]continues to release ash.
[02:12.51]Last week's eruption cost time 
[02:16.00]and money for travelers. 
[02:18.19]Hundreds of thousands were stuck. 
[02:21.42]Some had no place to stay 
[02:24.11]except the airport. 
[02:26.05]Others tried to make their way 
[02:28.64]by train, bus, boat or car.
[02:32.22]Vacationers have had to change 
[02:34.91]or cancel plans. 
[02:36.95]And not all businesses 
[02:39.20]have been sympathetic.
[02:41.34]An American stuck in London, 
[02:43.74]already one of the world's 
[02:45.93]highest priced cities, 
[02:47.42]found that her hotel 
[02:49.07]had doubled its prices. 
[02:52.21]Some embassies offered emergency 
[02:55.19]loans to their citizens.
[02:57.38]Passengers delayed on European airlines 
[03:00.96]may be able to get back at least 
[03:03.87]some of the money they had to spend.
[03:06.91]The crisis brought new attention 
[03:09.69]to the billion-dollar market 
[03:12.13]for travel insurance. 
[03:14.34]About thirty percent of Americans 
[03:17.08]buy policies to cover unexpected 
[03:20.71]problems when they travel. 
[03:23.21]Some credit cards offer a form 
[03:25.56]of insurance and could also face claims.
[03:29.54]The volcanic eruption was the second time 
[03:33.47]in two years that Iceland 
[03:35.51]has shaken its neighbors to the east. 
[03:38.76]The first time was the near-collapse 
[03:42.09]of Iceland's banks and currency 
[03:45.13]during the world financial crisis.
[03:48.62]And that's the VOA Special English 
[03:52.50]Economics Report, 
[03:54.14]written by Mario Ritter. 
[03:56.03]I'm Steve Ember.