Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Xetra  >  Deutsche Lufthansa AG    LHA   DE0008232125

News SummaryMost relevantAll newsSector news 

Lufthansa Chairman Slams EU's CO2 Trade For Aviation Sector

05/08/2012 | 05:48am US/Eastern

Deutsche Lufthansa AG's (>> Deutsche Lufthansa AG) supervisory board chairman and former chief executive, Juergen Weber, Tuesday slammed European and German politicians in an unusually blunt manner, saying that the continent's aviation industry is considerably squeezed by regulations and levies.

Addressing shareholders at the company's annual general meeting, Weber said that the inclusion of the aviation industry to the European Union's carbon dioxide emissions trading scheme--known as E.U. ETS--could prompt a trade war with opponents of the system, including the U.S., China and others.

"A trade war over the issue of CO2 trade will demote the European aviation industry to the third league" of the global industry, Weber said.

His comments come after airlines and governments in other parts of the world have threatened potential retaliation over the E.U.'s unilateral introduction of CO2 trade for the airline sector.

Orders worth billions of euros for Franco-German aircraft manufacturer Airbus, a unit of European Aeronautic Defence & Space Co. EADS NV (EADSY, EAD.FR), came under threat last month, as a European aerospace industry official said China is holding back the approvals Chinese airlines need to buy another 10 Airbus A330 jetliners, in a move that was part of the escalating row over the EU plan that's spilling into the trade sector.

China said in February it was prohibiting its airlines from paying for carbon emissions under the new EU system.

-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503; jan.hromadko@dowjones.com

Stocks mentioned in the article : Deutsche Lufthansa AG
React to this article
10/02DJEUROPE MARKETS : European Stocks Shrug Off U.S. Jobs Report To End Higher
10/02DJEUROPE MARKETS : European Stocks Erase Gains After Disappointing U.S. Jobs Repor..
10/02DJEUROPE MARKETS : European Stocks Rally More Than 1% Ahead Of U.S. Jobs Data
10/02 DEUTSCHE LUFTHANSA : Lufthansa Group opens up new winter holiday destinations
10/02 RYANAIR : It's a dog's high life on Ryanair
10/01 DEUTSCHE LUFTHANSA : Shareholders' structure as of 30 September 2015
09/30 MICHAEL O'LEARY : Ryanair has applied for slots at Paris Roissy and Orly airport..
09/28 DEUTSCHE LUFTHANSA : Publication pursuant to section 26 (1) WpHG
09/25 DEUTSCHE LUFTHANSA : Lufthansa starts new Frankfurt-Tampa service
09/23 DEUTSCHE LUFTHANSA : Publication pursuant to section 26 (1) WpHG
Duration : Period :
Deutsche Lufthansa AG Technical Analysis Chart | LHA | DE0008232125 | 4-Traders
Income Statement Evolution
More Financials