Over 3,500 airlines and business jet operators globally will have to sign up to the new European Union Emissions Trading Scheme by 2012 or face either financial penalties or a ban, the EU has warned.
In its official gazette, the EU has published a list of operators, which includes the likes of Lufthansa, Qantas, KLM, Emirates and United, that could be penalised unless they comply.
The list in the Official Journal of the European Union also includes hundreds of private business jet operators, as well as European airplane manufacturers Airbus and Dassault.
Under the programme, operators will have to submit plans for monitoring their emissions by January 2010.
“Aviation has been included into the emissions trading scheme and this list is part of a directive that was adopted in 2008 to bring the aviation sector into that scheme,” EU spokeswoman Katharina von Schnurbein said.
The EU’s list of airlines that must take part in the programme has been controversial because, aside from European operators, it also includes scores of airlines from other parts of the world flying into Europe.
The International Air Transport Association said airlines should submit their EU emission reports “under protest” but should first consult their legal departments.
It said airlines should comply with the EU’s requirements to avoid being penalised when the European Emissions Trading Scheme comes into force in 2012.
Fractional aircraft provider NetJets’ second-quarter revenues fell 43 percent year-over-year to $550 million, and for the first half dropped $1.024 billion–or 42 percent–from the same six-month period last year. According to parent company Berkshire Hathaway, NetJets’ declines reflected an 81-percent dive in aircraft sales and a 22-percent reduction in flight operations revenues “primarily due to lower flight revenue hours.
NetJets reported pre-tax losses of $253 million for the second quarter and $349 million for the first six months, compared with gains of $192 million and $255 million, respectively, in the same time frames last year. Further, Berkshire said that NetJets owns more airplanes than it requires for its present level of operations “and further downsizing will be required unless demand rebounds.
NetJets founder and now former chairman and CEO Richard Santulli left the company last Tuesday, just three days before Berkshire released its second-quarter results.
AIN by Chad Trautvetter
After a monthslong free fall, it feels like the business jet market is starting to stabilize, said Jack Pelton, head of Cessna Aircraft.
"At some point there, we'll be able to call the bottom," Pelton, the company's chairman, president and CEO, said of the drop in the market. "The negatives, like (order) cancellations are slowing down; we're starting to see orders start to rise again."
Aircraft deliveries are expected to hit their low next year, which will be followed by a steady climb, he said.
"The slope of that rise will be dependent on what the economy does," he said.
Pelton's boss, meanwhile, said Cessna's parent company is not interested in selling the Wichita company.
"I don't know where all the rumors come from," said Scott Donnelly, president and chief operating officer of Textron. "I think I can be clear that no one is interested in any way, shape or form in divesting Cessna out of Textron. It's a central asset of what Textron is."
- Molly McMilin - Kansas.com