IATA Statement on US-EU Agreement

It is disappointing that, at this critical time, we did not make significant progress on the issue of ownership. The agreement was not a step backwards, but it did not move us forward. The long-term financial sustainability of the industry is dependant on normal commercial freedoms. I urge both governments to keep this on the radar screen for urgent follow-up, said Giovanni Bisignani, IATAs Director General and CEO. IATA welcomed the reaffirmation within the agreement that environmental issues leading up to COP-16 should continue to be addressed through the International Civil Aviation Organization (ICAO). ICAO is the right forum to reach a global sectoral approach to deal with aviations carbon emissions. I welcome the agreements reaffirmation of this as the industry continues to pursue its ambitious environmental targets to improve fuel efficiency by 1.5% per year to 2020, cap net emissions from 2020 with carbon neutral growth and cut net carbon emissions in half by 2050 compared to 2005, said Bisignani.