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 ...

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