European Commission announced (30-Jan-2012) another step was taken in the implementation of the inclusion of aviation in the EU Emissions Trading Scheme (EU ETS), with the partial activation of the new Union Registry to enable access for aircraft operators to the scheme. The Union Registry operated by the Commission will ensure the accurate accounting of all emission allowances issued under the EU ETS and keep track of the ownership. Currently, allowances are held in accounts in electronic registries administered by EU member states. The partial activation of the Union Registry for airlines is a first step towards the full activation, which will not take place before Jun-2012. Until then, existing national registries remain operational, in particular for allocation and for the completion of compliance activities for stationary installations. All aircraft operators covered by the EU ETS have to open an account in the Union Registry. Based on a benchmark published in Sep-2011, EU member states calculate the amount of allowances to be allocated for free to each aircraft operator in accordance with the rules set out in the EU ETS directive. Aircraft operators will receive the first annual batch of free allowances credited on their registry account by 28-Feb-2012 or as soon as their account is opened. In total, approximately 181 million aviation allowances will be handed out to airlines for free in 2012. [more - original PR]
European Commission announces partial activation of the EU ETS registry for airlines
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The global commercial aircraft fleet grew by 4% in 2016 and the year ended with an order backlog of more than nine years of production. Among the regions, North America still has the biggest and oldest fleet, but the lowest ratio of orders to aircraft in service. By contrast, Middle East has the fewest in service, but the highest ratio of orders to current fleet numbers.
This report gives an overview of the number of commercial aircraft deliveries in 2016 and the outlook into 2017 and beyond. It also looks at numbers in service and on order by region. It is based on preliminary numbers from the CAPA Fleet Database and guidance on 2016 deliveries from Airbus and Boeing, who have yet to announce final numbers.
The data indicate that total worldwide deliveries fell in 2016, the first such decline for six years, as a result of delays to new aircraft programmes. Boeing delivered more aircraft than Airbus for the fifth straight year, but its deliveries fell short of its 2015 level, while Airbus increased its numbers year-on-year. Total deliveries will likely rise again in 2017, but this may prove to be a peak year.
Lufthansa and Etihad: equity tie up could further align mutual strategy, but marriage unlikely
Greater cooperation between Lufthansa and Etihad reflects their local and global challenges growing in quantity and complexity. Contact between the two has led to speculation that the partnership could radically expand to include an equity tie up, with rumoured merger talks.
Their initial Dec-2016 codeshare announcement was, in practical terms, small but showed the possibility, as they stated, to expand cooperation. However, it would be a leap to go from their handful of codeshares to a 17-Jan-2017 article from Italian daily newspaper Il Messaggero that Etihad could invest in Lufthansa on the way to a possible merger between the two. A subsequent denial in a Reuters story that "A financial stake is out of the question at the moment", does little to dispel the rumour. Were it not for the last three words of that statement the rumour would lack credibility.
There is certainly logic for a deeper partnership - and the two have danced this waltz before. Equity involvement from airlines can cement partnerships, add to board influence and partially allow one side to gain financially from any matter it feels it is compromising away. Nevertheless, there are obstacles to a full blown merger, and even to Etihad's taking a 30% to 40% stake. A marriage between the new bedfellows does not seem an immediate prospect. Nonetheless the logic is there for a move; and the mere fact of a potential move is sufficient to rock the equilibrium.