In the UK, Oilprice.com reported that Luis Gallego, chief executive officer of British Airways’ owner, IAG told the Financial Times that the airline industry in Europe will have to raise fares to offset the more expensive clean fuels as the sector looks to slash emissions. “Flying is going to be more expensive. That is an issue, we are trying to improve efficiency to mitigate that, but it will have an impact on demand,” Gallego said. Due to the EU’s net-zero targets and stricter emissions control and requirements for a higher share of sustainable fuels to be used by airlines, the European companies could lose some of their competitive edge, Gallego added.
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