European Airlines Distressed by Greta Thunberg's 'Flight-Free' Campaign

[Image source=EPA Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Sixteen-year-old environmental activist Greta Thunberg took the train when traveling to Davos, Switzerland last year to meet CEOs and global leaders. She also traveled by sailing ship to New York, USA, last September to deliver a speech at the UN 'Climate Action Summit.'

Thunberg has put the European aviation industry in a dilemma. Her 'No Flying' campaign has led to a decrease in passengers.

According to Swedish airline Swedishavia, Thunberg's 'No Flying' campaign caused a 4% decrease in passengers at Swedish airports in 2019. This amounts to approximately 150 million euros.

EasyJet, one of Europe's low-cost airlines, is expected to see its operating profit drop from 580 million euros to 465 million euros in 2020, excluding various tax benefits and carbon dioxide emission credits provided to airlines.

Another European low-cost airline, Ryanair, is projected to see its operating profit for the same period plunge by more than half to 437 million euros.

Local media reported that the total damage to the entire aviation industry is expected to reach about 3 billion euros.

Meanwhile, according to the International Air Transport Association (IATA), air transport accounts for 2% of global carbon dioxide emissions, but if appropriate changes are not made, it is expected to reach 25% by 2050.

In particular, unlike electric vehicles and hydrogen vehicles, research has shown that it will take several more decades to find alternative fuels for the aviation sector.