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easyJet statement on Stern report on The Economics of Climate Change

easyJet Press Release, 31/10/06

Posted with the express permission of the easyJet Press Office

Andy Harrison: Can grow and can be green at the same time

Today Sir Nicolas Stern presented the findings of his report on The
Economics of Climate Change in the presence of Prime Minister Tony Blair
and the Chancellor Gordon Brown. easyJet, Europe?s leading low-fares
airline and one of the world?s most environmentally-efficient carriers,
welcomes the emphasis the Stern report puts on emission trading, global
solutions and on the reconciliation of economic and environmental
sustainability.

Andy Harrison, easyJet Chief Executive, commented on the report:

?easyJet shares many of the conclusions of the Stern report. Like the Stern
report, easyJet strongly believes that we can grow and can be green at the
same time. To achieve this objective, we have to find European and global
solutions that reconcile economic with environmental sustainability. Low-
fare airlines have done exactly this by introducing a new way of flying
that is incredibly more efficient than the old way of flying half-empty
aircraft in and out of congested hub airports. We fly brand-new aircraft
and we fly them direct and as full as possible.

Now it is time to take the whole industry to the next level of efficiency
and energy conservation. easyJet has been one of the earliest advocates of
including aviation into the EU?s Emission Trading Scheme, and we are
delighted that the Prime Minister personally is putting its weight behind
the idea. While emission trading is not yet a global solution, we can make
give it global outreach by including all flights to and from Europe, not
just intra-EU flights that account for only 20% of Europe?s flying - or 1%
of total EU emissions.

It is also important to understand that taxation is not the answer. Taxes
don?t help the environment - they only fill a government?s coffers and
burden the economy. There are more effective solutions right under our
nose. Airlines could significantly reduce CO2 emissions if Europe's
governments would reform our medieval Air Traffic Management systems and
would stamp out the illegal subsidies that are still given to ailing
national airlines that fly old, half-empty airlines.?

easyJet has long been arguing that airlines have their part to play in
safeguarding the environment. However, it is important to put this into
perspective - the European Commission?s own calculations confirm that
aviation accounts for just 3% of CO2 emissions in Europe. easyJet takes its
environmental responsibilities very seriously and as a result the airline
is one of the world?s most environmentally-efficient airlines. easyJet
flies brand new, quiet and fuel efficient aircraft using the latest
technology. With its point to point network and some of the highest load
factors in the industry, no resources are wasted and every aspect of the
business is efficient.

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