Sept 19, 2011
British Airways faces a bill of nearly €50m, the highest of any airline, when carriers around the world are brought into the European Union’s carbon emissions trading scheme next year, a new study estimates.
But BA and other large European carriers will face a relatively smaller burden than their rivals in the US and China, because they should get an average of 81 per cent of the carbon allowances needed under the scheme for free. The Chinese and American carriers will only get an average of up to 64 per cent, says the report by Thomson Reuters Point Carbon, the energy research firm.
The airline industry’s total bill is expected to be €1.1bn ($1.5bn) at today’s carbon prices, the study says. The whole sector may only make a $4bn profit this year, the International Air Transport Association has forecast.
This article was posted: Monday, September 19, 2011 at 3:21 am