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FINANCIAL NEWS
Emirates to pay USD500m-USD1b over EU carbon emissions tax
09 Aug 2011
(MENAFN) Emirates Airline’s senior vice-president of environmental affairs, Andrew Parker, said that the carrier would have to pay between USD500 million and USD1 billion as taxes related to the European Union’s program to limit carbon emissions, reported Arabian Business.
Parker added that the carrier would have its carbon dioxide emissions restricted at 97 percent of its average 2004-2006 levels and 95 percent in the year 2013 when landing in any country within the EU starting 2012.
He also said that the company planned to expand its fleet so that it would include 120 Airbus A380s, which would produce 75g of carbon emissions per passenger kilometer.
It is worth noting that in an attempt to slash pollution by around 5 percent through the year 2020, carriers will have to pay fines of up to USD143 for every tone of carbon dioxide they release above the limit.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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