IATA blasted what it called lack of progress on dealing with future volcanic ash eruptions and passenger compensation issues at last Thursday's meeting of EU transport ministers, which the organization called "a frustrating disappointment." IATA DG and CEO Giovanni Bisignani said, "Europe's overreaction to the Icelandic volcano cost the European economy €5 billion [$4.06 billion]. This embarrassment of global proportions was a wakeup call…Europe needs to ...

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