A massive cloud of ashes has kept thousands of fligfhts on the ground in Northern Europe yesterday after a volcano in Iceland erupted a second time this month, spewing huge amounts of silicate ash into a busy airspace for travellers in the region. Some of Europe's busiest airports have closed down in what appears to be the biggest shutdown of flights since 9/11.

In the latest indicator that the U.S. airline industry is still struggling, American Airlines has announced plans to eliminate 921 flight attendant positions, representing six percent of the company's in-flight service staff. Like many U.S. carriers, American Airlines has reduced its flight capacity this summer, cutting seven percent of flights in June. For a closer look at the state of the nation's airlines, we speak with reporter Charisse Jones, who covers the airline industry for USA Today.

Airlines are starting to release their quarterly earnings reports. The results? Turbulence. While Southwest and United eked out a small profit, Continental announced a slight loss. Charisse Jones, reporter for USA Today, joins The Takeaway to talk about the state of airline industry.