European Union confirmed it will keep open the possibility of exempting air travel from certain countries under its plan to include aviation in its emission trading scheme from 2012 (Bloomberg, 03-Jun-2011). The use of "equivalent measures" by another country to cut greenhouse gas emission could be enough to exempt incoming flights from a non-EU nation. Any exemption would require approval of EU Member State representatives in the Climate Change Committee. The decision would then be subject to three-months' scrutiny by the European Parliament and national governments.
EU confirms possibility of exemptions from EU ETS through use of ‘equivalent measures’
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Dubrovnik Airport: providing essential tourism support for a region. Croatia Airlines' 3rd base
Dubrovnik, in the far south of Croatia on the Adriatic Sea, has the country’s third busiest airport after Zagreb and Split. The airport is leisure-oriented with a mix of FSC/network carriers, LCCs and charter carriers.
The economy of the small city is heavily reliant on tourism, which the airport supports by way of handling almost two million passengers annually. Because of the unique nature of that tourism Dubrovnik Airport has no outright competitors either within or outside Croatia with the exception of Split Airport to the north, whose profile is very similar.
This report examines Dubrovnik Airport by way of several sets of metrics, looks at the airports that are rivals to it, at its construction activities and its current and projected ownership.
Brexit and aviation Part 2: lower air traffic, economic uncertainty. UK-EU relations up in the air
The British exit from the European Union will have a negative impact on UK air traffic as a result of weaker GBP – an immediate effect – and a weaker GDP outlook. Air freight is also likely to be negatively affected by lower levels of international trade. The impact on air traffic is also likely to be felt in the rest of Europe, while economists are also warning that Brexit adds to the uncertainties facing the global economy.
European airline share prices have been hard hit since the UK referendum result was announced early on 24-Jun-2016, particularly those of easyJet and British Airways' parent IAG. This reflects the likely lowering of demand, but also the significant regulatory uncertainty surrounding the sector, particularly with respect to market access.
UK membership of the European Common Aviation Area would preserve existing market access and is the expected route. However, UK political turmoil and question marks concerning its ongoing commitment to EU principles may compromise its access in the future. Profit warnings from IAG and easyJet point to at least a slowing of profit growth. It is difficult to see the world airline profit cycle continuing the upswing of recent years.