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RYANAIR HOLDINGS PLC

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Ryanair : Condemns EU Environment Ministers Who Allow Rich Long-Haul Passengers To Evade Environmental Taxes, While Short-Haul Passengers Pay All ETS Taxes

06/29/2022 | 09:29am EDT

Following last night's vote in the Council of the European Union, Ryanair - Europe's favourite airline, has today (29th June) condemned the EU Environment Ministers' hypocritical decision to block the extension of Europe's Emissions Trading Scheme ("ETS") to long-haul flights departing the European Union, which account for over 50% of EU aviation emissions. This hypocritical decision runs contrary to the recent EU Parliament vote to include long-haul departures in the EU's ETS schemes.

If this Council decision prevails over the democratic wishes of the European Parliament on this important policy, then Europe's richest passengers, departing on the most polluting long-haul flights, will continue to evade paying any ETS enviro taxes, while hard pressed EU families, travelling on short-haul flights, (which account for less than 50% of EU aviation CO2 emissions), continue to pay 100% of Europe's ETS taxes. This is blatantly unfair.

It is inexplicable and deeply unfair that rich people flying on long-haul flights, which account for almost 52% of European aviation's CO2, are exempt from paying environmental taxes, while European families on short-haul flights, who account for just over 45% of emissions, pay 100% of the ETS taxes.

Ryanair's CEO Michael O'Leary said:

"Today's EU Council vote of environment Ministers is inexplicable and indefensible. These environment Ministers of Germany, Holland, France, Spain, and others should now explain why they exempt rich long-haul passengers from paying any environment taxes, while hard-pressed European consumers and their families on short-haul flights, who account for less than 50% of Europe's aviation CO2 emissions, but pay 100% of the environment taxes.

These EU Environment Ministers have yet again failed their citizens today with their vote to preserve this broken environmental policy which, unless reversed, will enable the richest visitors to/from Europe travelling on the most pollutinglong-haul flights to evade any environmental taxes, while Europe's hard-pressed consumers and their families, pay an unfair burden of 100%.

Ryanair now calls on EU's Member States to reverse this deeply hypocritical position and endorse the European Parliament's vote to apply ETS to all long-haul flights departing Europe. Europe's "Green Deal" Commissioner Frans Timmermans should also support this extension of the ETS and finally require high-fare flag carriers like KLM, Air France and Lufthansa to pay their fair share of ETS taxes by including their long-haul flights, that account for more than 50% of European aviation CO2 emissions, within Europe's ETS regime."

Disclaimer

Ryanair Holdings plc published this content on 29 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2022 13:28:16 UTC.


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Sales 2023 10 056 M 10 194 M 10 194 M
Net income 2023 1 222 M 1 238 M 1 238 M
Net Debt 2023 785 M 796 M 796 M
P/E ratio 2023 12,1x
Yield 2023 -
Capitalization 14 519 M 14 718 M 14 718 M
EV / Sales 2023 1,52x
EV / Sales 2024 1,21x
Nbr of Employees 19 000
Free-Float 96,0%
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Neil Sorahan Treasurer
Stan McCarthy Non-Executive Chairman
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Julie O'Neill Independent Non-Executive Director
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