The International Air Transport Association (IATA) criticized the European Union’s response to the eruption of the Iceland volcano in April, saying that it cost the European economy 5 billion euros. Giovanni Bisignani, IATA’s Director General and CEO during a meeting of EU Transport Ministers also said Europe must review its compensation regulations for flight cancellations and delays which were applied in a way never intended by the original legislation. Finally, Bisignani reiterated his call for a real European Single European Sky (SES).Source: IATA press release 31 of June 25, 2010
