The use of "green" fuel will destroy European aviation.
The chief executive of parent company British Airways said planned environmental levies on airlines would "kill" the European airline industry and lead to higher ticket prices.
Under the proposed rules, the amount of clean jet fuel that airlines are required to use will increase next year. Currently, the share of clean aviation fuel in the fuel mix of UK airlines is 3.7%. Following the increase next year, this share is expected to rise to 10% by the end of the decade.
According to him, the oil companies that produce SAF (Synthetic Aviation Fuel) do not produce enough fuel to meet their environmental goals. "We have mandates for things that don't exist. All European airlines will be at a significant disadvantage compared to global competitors due to high costs, and this will have consequences," Gallego said.
The sharp rise in fuel prices had a negative impact on IAG's earnings. The London-based company, which owns the airlines Vueling and Aer Lingus along with British Airways, recorded a 16% drop in pre-tax profit to 3 billion euros during the nine months. The group stated that the decrease in profits was due to "significant increases in aviation fuel prices since March" due to the closure of the Strait of Hormuz following the outbreak of war in the Middle East.