European Airlines are still under a tough time as the crisis over volcanic ash cloud continues. The situation has led to shutdown of many airlines, which have brought them one step close to collapse.

BA has now become the newest member in the group demanding compensation. The airline has demanded compensation for the financial impact of volcanic ash cloud. The current crisis has come at a time when the airlines lost around £45m two weeks ago.

In last six days, the Flag carrier has lost almost £100m due to the volcanic ash crisis. Considering the industry as a whole, the losses have reached to $200m a day.

Last year the unprecedented fuel costs and collapse in demand caused the global airlines industry to lose nearly $9 billion. The eruption of Eyjafjallajokull in Iceland now seems quite a blow for the industry, which was trying to recover from last year's shock.

Nevertheless, British Airways is not the lone sufferer. While Ryanair has cancelled its 950 flights per day Easyjet has cancelled 85 per cent of its flights over the last five days.

Now the Airlines are putting pressure on the NATs in Britain and Eurocontrol air safety organisation of Europe to reassess the ban and its impact.

As per the airlines Europe has overreacted to the situation.