Iceland volcano cloud impact‎ - In Pictures

As the ash cloud from Iceland's volcanic eruption continues to hover over the European skies, flights to and from Europe remained suspended.

The closing of European airspace has dealt a severe blow to the beleaguered airline industry. The crisis has cost the airlines at least $1 billion so far in lost revenue and could wipe out weaker carriers if it continues much longer, analysts say.

Scientists say that because the volcano is situated below a glacial ice cap, magma is being cooled quickly, causing explosions and plumes of grit that can be catastrophic to plane engines, depending on prevailing winds.