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. Last Updated: 07/27/2016

Aeroflot Sees $1Bln CO2 Bill

Aeroflot says the European Union's move to force airlines to pay for carbon emissions may cost the company 800 million euros ($1 billion) to 2025.

"The quotas will be sold on the exchange, so the price will be higher," deputy chief executive Igor Chalik said. The EU may start demanding payments next year.

Russia is preparing a law that would bar Russian airlines from participating in EU carbon trading, Deputy Transportation Minister Valery Okulov said Thursday. Okulov, a former Aeroflot chief executive, estimated last month that Russian airlines may have to pay 20 million to 25 million euros a year under the EU measure.

(Bloomberg)