The concerns of Cyprus, as a regional and island state of the EU, regarding the legislative proposals concerning aviation will be conveyed to Brussels by the Minister of Transport, Communications and Works, Giannis Karousos, where he will have contacts on Thursday with European Commission officials, with The main topic of discussion is the legislative package of the European Union "Fit for 55". It is estimated that it will lead to a 40-50% increase in airline ticket prices, which will lead to a 15-20% reduction in tourism revenues and a 1,75% Gross Domestic Product.
According to a press release from the Ministry of Transport, Communications and Works, Mr. Karousos is going to Brussels where he will hold meetings on Thursday with Frans Timmermans, First and Executive Vice President of the European Commission in charge of the European Green Pact, and Mr. Member of the Office of the President of the European Commission, Ursula von der Leyen, specializing in European Green Agreement issues.
In addition, the Minister will give an interview to the print media "POLITICO" in Brussels on the same subject, it is reported.
In his meetings, the Minister of Transport, he added, "will convey the concerns of Cyprus, as a regional and island state of the EU, regarding the legislative proposals concerning aviation".
"According to Cyprus estimates, the total cost of aviation for the 27 EU Member States by 2050 is estimated at € 1,4 trillion, while in Cyprus the concern is focused on the cumulative cost of the period from 2024-2050, which is estimated to reach € 18 billion in an economy of € 24 billion ", it is reported.
In addition, based on the assessment made of the impact that the legislative package will have on the economy of Cyprus, it is estimated that air ticket prices will increase by 40-50%, which will lead to a reduction in tourism revenues by 15 -20% and in the Gross Domestic Product by 1,75%.
During the talks, according to the press release, Mr. Karousos will reiterate Cyprus' commitment to supporting the goals of "Fit for 55" in relation to the environment and the reduction of pollutant emissions and will explain to his interlocutors its suggestions. Cyprus, seeking to improve the legal framework, so as to take into account the specificities of the island and regional EU Member States which, due to their geographical location, are highly dependent on air transport.
It is recalled that at the Council of Ministers of Transport held in Luxembourg on 2 June 2022, the relevant Ministers reached a general approach to the first legislative proposal of the "Fit for 55" package, adopting initiatives and proposals submitted by Cyprus, such as the extension of of sustainable aviation fuels (SAF) and synthetic fuels, the exemption for refueling aircraft, a specific exemption for Cyprus in the alternative fuel infrastructure legislation and the extension of the transitional period.
Source: KYPE