Even now, after all its media coverage, attempts to pronounce Eyjafjallajokull are more likely than not to meet with failure. But, while it may be hard to refer to, everyone now knows that this Icelandic volcano exists – ever since it decided to start spewing its fiery contents into the atmosphere of Northern Europe.
Ferrovial-owned BAA estimates the daily impact on adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) and cash flow caused by the airport closures reached a maximum of £5 million (€5.8 million; $7.7 million) to £6 million per day across its UK airports. That could have cost it around £30 million over the six-day disruption period.
A spokesman from Abertis said the company was still crunching figures but highlighted the impact, although noteworthy, was unlikely to affect the group’s future results. Likewise, Ferrovial wrote in a statement that it could recover the lost revenue once its airports re-open, or by cutting operating expenditure, for example.
Compared with the $1.7 billion in revenues lost by airliners around the world, airport operators may have escaped Eyjafjallajokull’s fury relatively unscathed.