Since we last reported on the introduction of aviation into the
EU Emissions Trading Scheme (EU ETS) in
December 2010's edition of the Legalflyer there have been
further developments regarding the scheme which will be of interest
to airlines, leasing companies and aircraft financiers. Firstly, on
30 June 2011, another milestone date in the lead up to the
inclusion of aviation into the EU ETS passed with the publication
of the total quantity of aviation emissions allowances available
for 2012, 2013 and each year thereafter up to 2020. Secondly, as we
near the 1 January 2012 launch date for full compliance with the
expanded EU ETS, there has been growing public opposition from
various governments along with manufacturers and airlines to the EU
ETS, with threats of retaliatory measures against the EU and EU
airlines. Finally, we report on an interesting article published by
Standard & Poors looking at the estimated costs which the
scheme will have on the aviation industry.
