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Dubai's Emirates airline says EU emissions rules could cost it $1 billion over a decade
DUBAI, United Arab Emirates (AP) ' Emirates airline says planned European Union emissions requirements could cost the carrier ' the Mideast's biggest ' as much as $1 billion over a decade.
Andrew Parker, a senior vice president for the Dubai-based airline, said Monday the EU's plan would have a "significant financial impact." He says Europe accounts for nearly a quarter of the carrier's operations.
EU requirements will eventually force airlines ' including foreign carriers ' to pay for their emissions as part of its cap-and-trade scheme. U.S. airlines took the EU to court over the proposal last month, arguing it breaches international law.
Parker spoke after outlining a company environmental report that claims Emirates' emissions are 26 percent lower than the industry average.