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Flight ban now stretched to early Tuesday

DDP/The Local · 19 Apr 2010, 16:33

Published: 19 Apr 2010 13:44 GMT+02:00
Updated: 19 Apr 2010 16:33 GMT+02:00

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"We are still examining whether to extend or temporarily relax these measures ... short-term changes are still possible depending on the weather situation," the agency said in a statement on its website.

Reports from the Volcanic Ash Advisory Centre (VAAC) in London earlier on Monday said weather conditions were not favourable for moving the ash from Iceland’s Eyjafjallajokull volcano out of the region.

The cancellation of thousands of flights across Europe has left travellers stranded in airports across the region and airlines, which are bleeding hundreds of millions of euros, questioning whether safety calculations are sensible or accurate.

Many German travellers have been unable to get home. However, Lufthansa announced Monday it had been given special permission to land about 50 planes in Germany that had been stuck overseas, meaning about 15,000 passengers could get home. The flights would come from Asia, Africa, North America and South America, and they would land Tuesday at Frankfurt, Munich and Düsseldorf.

Aviation authorities also gave carrier Air Berlin approval to land a flight from the Spanish holiday island of Majorca. The flight had about 170 passengers was expected to touch down in Munich about 3.45 pm.

European flight safety agency Eurocontrol said in a statement it expected that between 8,000 and 9,000 flights would go ahead Monday in Europe's airspace, compared with 28,000 on a normal Monday.

According to Eurocontrol, countries that have closed their airports include Belgium, parts of Croatia, the Czech Republic, Denmark, Estonia, Finland, parts of France, most of Germany, Hungary, Ireland, northern Italy, the Netherlands, parts of Norway, Poland, Romania, Serbia, Slovenia, Slovakia, Sweden, Switzerland, Ukraine and the UK.

Story continues below…


Over the weekend Chancellor Angela Merkel and many other European leaders were forced to cancel their plans to attend the state burial of late Polish President Lech Kaczynski, who died in a plane crash along with dozens of others in Russia a week ago.

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DDP/The Local (news@thelocal.de)

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21:21 April 19, 2010 by wmm208
EU Sues Goldman Sachs Over Volcanic Ash Fallout

BRUSSELS-European Commission President Jose Manuel Barroso announced late Sunday that the European Union has filed suit against investment banking giant Goldman Sachs for the fallout of ash from Iceland¦#39;s Eyjafjallajökull volcano. The volcanic ash, which has blanketed the skies over most of Europe for the last four days, has grounded almost all European air traffic, stranding travelers and disrupting economic activity throughout the European Union.

In a statement delivered in Romansh, the official EU language of the month, Barroso said, ¦quot;We have uncovered evidence that this so-called ¦#39;natural disaster¦#39;, which is costing the EU hundreds of millions of Euros, is in fact an Act of Goldman, and we intend to hold the Zionist-American cabal in charge of the firm accountable.¦quot; ¦quot;First the profligate Americans drag the world into a near-depression and now they crap all this ash on us. Who the hell do they think they are?¦quot; added Greek Prime Minister George Papandreou from Athens, where he was chairing a conference on Greek sovereign debt entitled, ¦quot;How American Speculators Forced Us to Cook the Books, Lie to Our European Partners, and Pretend We Don¦#39;t Need A Massive Bailout¦quot;.

The EU complaint alleges that Goldman operated a proprietary wind-blowing strategy to direct the volcano¦#39;s ash into Europe¦#39;s stratosphere. Goldman is accused of profiting from the fallout by buying complex Flight Cancellation Swaps that are netting Goldman millions of dollars every time another European flight is cancelled. The complaint cites a smoking gun email from Francois Tubbey, a 16-year old Goldman vice president, to an unidentified woman at ¦quot;i@&$*edTiger@gmail.com¦quot; stating, ¦quot;That¦#39;s right, baby, Fat Franky¦#39;s in charge of the weather.¦quot;

Several European banks who are counterparties to the FCS¦#39;s are alleged to be suffering billions in losses with no end in sight, apparently because they continue to sell the FCS¦#39;s to Goldman. Reached for comment, the Chairman of Royal Bank of Scotland, one of the counterparty banks, said, ¦quot;Yes, we know almost all European flights are cancelled, but our advisor is Goldman Sachs, and they keep urging us to sell these FCS¦#39;s to them, so we do. We intend to hold them fully responsible.¦quot;

Goldman issued a statement saying that it intends to ¦quot;vigorously defend itself,¦quot; adding that the EU¦#39;s charges are ¦quot;unfounded in meteorology and probably also in fact.¦quot;

In a related development, the InterGovernmental Panel on Climate Change said today it is considering investigating Goldman¦#39;s role in climate change. ¦quot;We¦#39;re going to get the documents, proceed cautiously, and determine precisely when Goldman started melting the Polar icecaps.¦quot;
21:45 April 19, 2010 by The-ex-pat
wmm208 best laugh I have had in days........
21:51 April 19, 2010 by wmm208
Flight Cancellation Swaps. Down with the American zionists.

: )
00:43 April 20, 2010 by wood artist
wmm, funny you should mention that. I just got a call from my broker saying there was a hot deal from some bank in Iceland offering short selling on flight cancellations.

I wasn't too clear exactly how I could make money on the deal, but he said it was a slam dunk. Of course, this is the same guy who got me into some sort of aggregated mortgage thingys that haven't really worked out too well. Does make for a great write-off on the tax forms though.

01:13 April 20, 2010 by wmm208
It looks like nearby volcano Mt Katla is going to blow. This is 10x more powerful than the one now spewing ash over Europe. This would effectively put an end to the European Recovery.
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