Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > Factbox-Will Iceland volcano affect flights, what damage could be caused?
    Top Stories

    Factbox-Will Iceland volcano affect flights, what damage could be caused?

    Factbox-Will Iceland volcano affect flights, what damage could be caused?

    Published by Jessica Weisman-Pitts

    Posted on December 19, 2023

    Featured image for article about Top Stories

    Factbox-Will Iceland volcano affect flights, what damage could be caused?

    STOCKHOLM (Reuters) – A volcano erupted late on Monday on Iceland’s Reykjanes peninsula, spewing lava and smoke across a wide area after weeks of intense earthquake activity.

    Below is some detail about what impact the earthquake could have, and on previous eruptions in Iceland:

    ICELAND VOLCANO LOCATION

    – Geologists said early on Tuesday that lava appeared to be flowing away from the coastal Grindavik, which is the only town in the area and located 40 km (25 miles) southwest of capital Reykjavik

    – Grindavik’s 4,000 inhabitants were evacuated in November as a precaution after days of seismic activity, and roads in the area are closed.

    – The volcano is located about 30 km from Reykjavik. Keflavik international airport is somewhat nearer and closer still is the Blue Lagoon, a renowned geothermal spa popular with tourists visiting Iceland. The Blue Lagoon has been mostly closed since the current seismic activity was detected.

    – There are five to six different volcanic systems on the Reykjanes peninsula, said Halldor Geirson, an associate professor at the Institute of Earth Sciences, University of Iceland

    – Monday’s eruption is part of the Svartsengi volcanic system, which is different from the nearby Fagradalsfjall that erupted in 2021 and 2022

    WILL ICELAND WEATHER AFFECT POLLUTION RISK?

    – The eruption is taking place on a fissure that was last active about 2,000 years ago

    – Lava flows had decreased from 200-250 cubic meters per second in the first two hours of the eruption to around a quarter of that on Tuesday morning

    – It is normal for fissure eruptions to subside after an initial burst, but it could still go on “for some time”, Geirson said

    – The crack that opened up in the earth’s surface was about 4 km long, with its southern end some 3 km from Grindavik, Iceland’s Meteorological Office said

    – If the eruption maintains the current intensity, it will produce significant air pollution, volcanology researchers at the University of Iceland said on Facebook

    – “The good news is that the wind is northwesterly and according to the forecast it will stay northerly for the next few days. Hence the eruption plume is likely to be blown away from inhabited areas,” the researchers said

    WILL THERE BE AN ASH CLOUD LIKE EYAFJALLAJOKULL ERUPTION?

    – Located between the Eurasian and the North American tectonic plates, among the largest on the planet, Iceland is a seismic and volcanic hot spot as the two plates move in opposite directions

    – The eruption late on Monday is the fourth on Reykjanes in recent years and largest in the area since 2021

    – In 2021, volcanic activity in the area continued for six months, prompting thousands of Icelanders and tourists to visit the scene

    – In August 2022, a three-week eruption happened in the same area, followed by another in July 2023

    – In 2010, ash clouds from eruptions at the Eyafjallajokull volcano in the south of Iceland spread over large parts of Europe, grounding some 100,000 flights in Europe and beyond, and forcing hundreds of Icelanders to evacuate their homes

    – Unlike Eyafjallajokull, the Reykjanes volcano systems are not trapped under glaciers and are thus not expected to cause similar ash clouds

    (Reporting by Anna Ringstrom, Louise Rasmussen and Jacob Gronholt-Pedersen; Editing by Niklas Pollard and Alison Williams)

    Related Posts
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets
    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust
    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust
    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews
    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews
    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust
    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Top Stories PostVW cost-cutting drive includes less staff, faster development
    Next Top Stories PostBusiness travel emissions drop as many firms fly less -survey

    More from Top Stories

    Explore more articles in the Top Stories category

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    View All Top Stories Posts