Airline, aviation associations introduce study detailing costs of European ETS

Inclusion of aviation into the EU emissions trading scheme as outlined in the European Commission's December proposal would reduce collective airline profits by €9.5-€40.5 billion ($12.83-$54.71 billion) during the 2011-22 period, according to a study by Ernst & Young and York Aviation conducted on behalf of a group of aviation organizations including the Assn. of European Airlines. Profit margins of network carriers could see a 1.5% downturn, low-fare airlines 3% and cargo ...