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As winter storm Stella heads for the northeast U.S. on Tuesday airlines are canceling thousands of flights and governments and airlines throughout the region are checking their coffers to see how this late season blizzard may affect their finances.

A similar storm, Jonas in January of 2016, cost the airlines an estimated $200 million in canceled flights and logistical costs, Airways News senior business analyst Vinay Bhaskara told Business Insider at the time. 

Forecasters are calling for up to two feet of snow along the nation's Northeast Corridor, from Washington D.C. to Northern New England. The storm is also expected to bring rain to several areas along its predicted route, but precisely where the division will fall is unclear.

According to an Accuweather report Monday afternoon, "Residents should prepare for school closures and potential cancellations of sporting events due to hazardous travel for players and fans. In some areas where a mixture of rain and snow or a change to rain do not occur, blizzard conditions will develop. This is most likely in New England to near New York City. However, extensive blowing and drifting snow will also occur as far west as western Maryland and eastern West Virginia,"  AccuWeather Senior Meteorologist Kristina Pydynowski told USA Today on Monday.

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"For many areas in the Northeast, this will likely be the biggest and most impactful storm of the winter."

According to the Website, delays within, into, or out of the United States today, as of 4 p.m. ET, stood at 2,393 while 1,484 flights are canceled. See all delayed and canceled flights here. 

Among the nation's largest carriers, JetBlue (JBLU) - Get JetBlue Airways Corporation Report has canceled 10% of its Monday flights, Southwest (LUV) - Get Southwest Airlines Co. Report has canceled 8%, and American Airlines (AAL) - Get American Airlines Group, Inc. Report has canceled 4%.

Among destination airports, Chicago's O'Hare, and LaGuardia Airport and John F. Kennedy Airport have canceled 14%, 17% and 13% of Monday's flights respectively.

Travelers can expect even more extensive cancellations and delays on Tuesday, experts advised and said most cancellations have been in the Midwest as a weather pattern that will contribute to the northeast's woes makes it way across the country.