WORLD
China blocks airbus deals over EU carbon tax
Baku, March 15 (AZERTAC). China has blocked purchases of Airbus planes by Chinese companies in reaction to a controversial European carbon tax, the CEO of Airbus parent European Aeronautic Defense & Space Co. NV (Paris: EAD) said Thursday.
China has blocked purchases of Airbus planes by Chinese companies in reaction to a controversial European carbon tax, the CEO of Airbus parent European Aeronautic Defense & Space Co. NV said Thursday.
Louis Gallois, CEO of EADS, said Airbus is being subjected to "retaliation measures" by Beijing and warned that the European commercial-aircraft maker stands to lose business if the European Union fails to heed protests from airlines around the world about the emissions scheme that took effect Jan. 1.
The EU imposed a carbon tax, also known as the Emissions Trading Scheme, on airlines flying into EU airspace to help achieve a goal of cutting carbon emissions by 20 percent by 2020.
China is set to become the world's second-largest air travel market after the United States by 2014, according to a report released by the International Air Transport Association.