United Airlines may have lost as much as $22 million thanks to an ash spewing volcano in Iceland.
The Chicago based airline lost out on an estimated 32,000 international passengers, and another 22,394 domestic passengers who would have used the airlines domestic flights once reaching the US, according to Crain’s.
United Airlines wouldn’t confirm the numbers, but Crain’s spoke with Boyd Group International, a firm that deals in airline consulting.
On Monday alone the airline canceled 56 flights to Europe. Since Eyjafjallajokull started erupting last week United has canceled 44 flights out of Chicago’s O’Hare airport.
The effect on the airline industry as a whole is stiff. Analysts estimate the industry will lose close to $3 billion globally because of the eruption, Crain’s reports.
