China threatens EU and Airbus over emissions scheme: reports

China has reportedly threatened retaliation against Airbus if the EU goes ahead with plans to include international aviation in its carbon market (Reuters/Bloomberg, 20-May-2011). One EU diplomat reportedly stated the EU is taking China's threat very seriously, which include China imposing penalties on European carriers. From 01-Jan-2011, the EU will require all carriers serving Europe to be included in the emissions trading scheme. China's aviation authority opposes the measure, claiming it will cost Chinese carriers CNY800 million (USD123 million) in the first year and more than triple that by 2020.