United Continental Holdings Inc. (UAL) added a $3 one-way fee on flights from the U.S. to Europe, matching an earlier charge by Delta Air Lines Inc. (DAL), as carriers absorb the cost of new European emissions rules. United added the fee yesterday, said Mike Trevino, a spokesman for the Chicago-based carrier. Delta initiated its charge Jan. 2, spokesman Trebor Banstetter said. The International Air Transport Association, a trade group that represents major global carriers, estimates the European emissions rules could cost airlines 900 million euros ($1.2 billion) this year and 2.8 billion euros by 2020. The European emissions trading system puts pollution quotas on thousands of utilities and manufacturers, and allows companies that produce less carbon dioxide than their quota to sell the surplus to others who exceed their limits. United Continental fell 1.5 percent to $18.24 at 2:32 p.m. in New York. The shares fell 21 percent last year. Delta rose 2.6 percent to $8.22. It dropped 36 percent in 2011.
No comments:
Post a Comment