Europe's largest tour operator TUI Travel Group PLC (TT.LN) said Monday the disruption caused by Iceland's volcanic ash has cost it GBP20 million so far, and will cost between GBP5-GBP6 million a day for as long European flights stay grounded.

TUI Travel, whose brands include Thomson, First Choice and Airtours, said that even though the disruption has come during a period of low holiday activity, it would still have a financial impact.

Ash from the Eyjafjallajokul volcano in Iceland, which has been erupting since early last week, has grounded planes across Europe.

The U.K.-listed travel group has about 100,000 customers who have been unable to travel home since Northern Europe's airspace began shutting down on April 15.

"The welfare of our customers is paramount and the group is providing appropriate assistance to all those in resorts whose return home has been delayed," it said.

In the U.K., 90% of customers whose flights have been canceled had rebooked their holiday for a later date, it said.

TUI added that it was working with other tour operators and airlines to encourage the resumption of flights as soon as possible.

-By Michael Carolan, Dow Jones Newswires; 44-20-7842-9278; michael.carolan@dowjones.com
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