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Airport ash closures hit airline shares

Iceland eruption - Dublin Airport closing
Iceland eruption - Dublin Airport closing

Shares in Irish airlines have fallen after the widespread disruption to flights across northern Europe caused by volcanic ash cloud from an eruption in Iceland.

The Irish Aviation Authority has said restrictions in Irish airspace will continue until 6am on Friday morning at the earliest, as it is not safe for planes to fly into volcanic dust. Dublin, Cork, Shannon and Knock airports are now closed.

Read more information on the disruption here

The Dublin Airport Authority's Siobhan Moore said the event was 'extraordinary'.

Aer Lingus shares closed down 2.7% at 73 cent in Dublin, while Ryanair was 1.9% lower at €3.99.

Aer Lingus says all UK and European flights scheduled to depart Dublin, Cork, Shannon, Belfast, London Gatwick and Heathrow up to 1pm on Friday have been cancelled. Flights from Ireland to the US on Friday are expected to operate with delays, though a Shannon-New York flight has been cancelled. Ryanair has also said it will not operate any flights out of Ireland before 1pm on Friday.

Britain has closed its airspace to all flights. Nearly every airport in Norway, Denmark and across northern Sweden also shut down. There was major disruption in Belgium, France, Finland, Germany and the Netherlands.

'It is very variable how long these eruptions last. Anywhere from a few days to over a year,' Magnus Tumi Gudmundsson, a professor of geophysics and civil protection advisor in Iceland, told the AFP news agency. 'Judging from the intensity of this one, it could last a long time,' he added.

Meanwhile, Irish Ferries said today was its busiest in its 30-year history as a result of flight cancellations. Stena Line also says it has been 'inundated' with calls from airline passengers unable to get to Britain.