Lufthansa to add environmental charge to fares [Yahoo! Finance Canada]
AIR FRANCE-KLM ADS (AFLYY)
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Source: Yahoo! Finance Canada
The airline group made the announcement Tuesday (June 25), joining at least one European rival in doing so. The industry is fighting to cover the cost of meeting new EU rules on reducing emissions. Airlines have warned regulations requiring them to use more expensive sustainable jet fuel could drive up costs. Ticket prices have already surged in recent years in the post-COVID travel boom. That has raised fears further increases could start putting travelers off from flying. The German airline group said fares will go up between 1 euro and 72 euros - or $77 -, depending on the type of ticket. It will be on all flights departing from EU countries, Britain, Norway and Switzerland. Some of the increases are effective from this week, and others from next year. Lufthansa shares were down just over 1% after the update. Aviation is held responsible for about 2% of the world's emissions but is considered one of the hardest sectors to decarbonize. Fuel for flights can't be
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