Several things of note occurred in recent days. The EU Emission Trading Scheme preliminary stats show that the cargo majors failed to disclose data and could be up for a fine, and the figures also disclose exactly what we here said would happen three years ago in one of our first editorials – Alitalia would be the big winner and Ryanair the big looser in the first year of ETS. This was due to the allocation being tagged to fleet emissions when Alitalia had a very old fleet, its gain was obvious while the downside for Ryanair with the most

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