financetom
Business
financetom
/
Business
/
European airlines demand 'level playing field' with Chinese rivals
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
European airlines demand 'level playing field' with Chinese rivals
Oct 17, 2024 1:19 PM

BRUSSELS, Oct 16 (Reuters) - European airlines urged

Brussels on Wednesday to do more to secure a level playing field

in the industry, complaining that Chinese rivals enjoy a huge

cost advantage because they can fly over Russia and do not face

extra environmental costs.

Action is all the more important because many carriers are

also facing delivery delays as planemakers Airbus and

Boeing ( BA ) struggle with supply chain problems and, in

Boeing's ( BA ) case, industrial action, the airlines said.

At an industry meeting in Brussels, Lufthansa CEO Carsten

Spohr said all flights into Europe should be required to avoid

Russian airspace to ensure fair competition.

"We are not allowed to cross Russia but Chinese carriers

are. If you want a level playing field, we need to ensure any

airline landing in Europe avoids Russian airspace. Until that

happens there will be enormous advantages to Chinese carriers,"

he said.

He also said that Chinese airlines did not have costs

related to Europe's emissions trading system, describing that as

another "financial advantage".

Airlines also lamented the uncertainty caused by aircraft

delivery delays, although budget carrier Ryanair noted

the capacity constraints would be good for ticket pricing.

Ryanair group CEO Michael O'Leary said the company would be

doing well if it got 10 or 15 aircraft from Boeing ( BA ) after March

next year, instead of the expected 30.

He earlier told Reuters that Ryanair would have to cut its

passenger traffic estimates for next year because of expected

delivery delays.

Air France-KLM said it was impacted by Pratt &

Whitney engine issues with its Airbus A220 orders, while

Lufthansa said it had never seen delays like those for

the Boeing 777X, adding they had reached around five years.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
In a first, FDA authorizes flavored vape products from Altria's NJOY for sale
In a first, FDA authorizes flavored vape products from Altria's NJOY for sale
Jun 21, 2024
June 21 (Reuters) - The U.S. Food and Drug Administration authorized four of Altria's ( MO ) menthol e-cigarette products for sale in the country on Friday, making them the first ever flavored vapes the agency has permitted on the market. The decision shows vape makers can provide evidence satisfying the FDA that the benefits their products offer in terms...
U.S. jet fuel output rises to pre-COVID levels as demand soars
U.S. jet fuel output rises to pre-COVID levels as demand soars
Jun 21, 2024
NEW YORK (Reuters) - U.S. refiners pumped out jet fuel last week at the fastest pace since the pandemic, government data showed, as they look to keep up with forecasts of record air travel this summer. U.S. refiners' net production of jet fuel hit about 1.9 million barrels per day (bpd) last week, 8% higher than the same time last...
National Bank
National Bank "Positive" on Fiera Management Maintaining Control After $53 Million Transaction
Jun 21, 2024
02:44 PM EDT, 06/21/2024 (MT Newswires) -- Fiera Capital ( FRRPF ) said Friday that several members of its senior management and board of directors acquired the 6.8% stake put up for sale by the Federation des caisses Desjardins du Quebec in April. The transaction, which includes no outside buyers, represents 7.25 million Class B voting shares and Class A...
Factbox-US regulators single out four banks for flawed 'living wills'
Factbox-US regulators single out four banks for flawed 'living wills'
Jun 21, 2024
(Reuters) - U.S. bank regulators said four major banks had shortcomings in their living wills - or plans that outline how they could be safely wound down if they went bankrupt or came under pressure. The four lenders - Citigroup ( C/PN ), Bank of America ( BAC ), Goldman Sachs ( GS ) and JPMorgan Chase ( JPM )...
Copyright 2023-2026 - www.financetom.com All Rights Reserved