Airlines Face Cut in Profit From EU Emissions Law
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The European Union's plan to cap airline emissions would reduce profit by more than 40 billion euros ($54 billion) over a decade, said an industry-funded study that dismissed EU claims travelers would bear most of the costs.
The EU aims to add airlines in 2011 to its emissions-trading system, a tool to fight global warming by imposing carbon-dioxide quotas on businesses and requiring those that exceed their limits to buy permits from companies that emit less. EU regulators say airlines would be able to protect profits by raising ticket prices as much as 39.60 euros.