Europe's airlines, represented by the Association of European Airlines (AEA), the European Regions Airline Association (ERA) and the International Air Carrier Association (IACA), are in an uproar over "grossly misleading" statements made by the European Commission, on 26 September. In connection with its adoption of rules on the allocation of free emissions allowances to airlines, the EU executive stated that these quotas represent, at current market prices, more than €20 billion over the coming decade, a sum it referred to as "revenues" airlines could use to modernise their fleets. The aviation sector, which will come under the Emission Trading Scheme (ETS) on 1 January 2012, will receive 85% of its emissions allowances at no charge the first year, then 82% from 2013 to 2020. "To refer to carbon permits as revenue is totally absurd," commented AEA Secretary-General Ulrich Schulte-Strathaus. "This is simply not true. The allocated certificates have to be surrendered. This is not money which airlines can re-invest."
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