Airline shares fall as France announces flight tax from its airports

France is set to introduce a tax on airlines flying from its airports in a bid to support the environment, the transport minister said. The move is expected to raise around €180 million from 2020. Following the news, shares in airlines across Europe fell with Air France down 5.2%, Ryanair down 4.8%, easyJet down 4% and Lufthansa down nearly 3%. The new French tax will be €1.5 for flights within France or the European Union, €3 for economy flights out of the EU, €9 for intra-EU business class and up to €18 for business class tickets out of the EU.