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Europe airlines: $1.2 billion loss in 2012

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IATA, Kallas call for “fully functioning Single European Sky”

European airlines will be in the red by $1.2 billion in 2012, according to the International Air Transport Association – the only region in the world to report a collective loss. The sector suffers from high taxes, heavy regulation and infrastructure that is both overlapping and inefficient, IATA says. As a consequence, the body has reacted positively to statements made yesterday by Siim Kallas, vice president of the European Commission, that achieving a fully functioning Single European Sky (SES) must be Europe’s top aviation priority.
“IATA fully supports Vice President Kallas in his efforts to put the long-delayed SES project back on track,” Tony Tyler, IATA’s director general and CEO, said. “It is the top priority in rebuilding the competitiveness of the European aviation sector. Cost efficient connectivity is critical to every modern economy. The failure of European member states to deliver on the SES places a EUR 5 billion burden on airlines flying in Europe and on their passengers […]. In these difficult economic times, that is a burden that the Continent cannot afford.”
TRBusiness
[Photo courtesy Copenhagen Airports]

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