Mr. Michael O'Leary:

If it were extended to all airlines without increasing the emissions trading system, ETS, revenues, then our €4.50 would go down to probably €1.50. It would go down by about two thirds. That would be meaningful for growth and incentives for growing routes and traffic into Shannon and Cork and peripheral destinations. I think what is likely to happen is that Europe will say “No, we want a slightly bigger cake”, in which case ours may stay at €4.50 or it may come down to €4 or €3.50, but at least Europe is able to hold its head up and say everybody is paying their fair share. What is unarguable at the moment is that only the poor Europeans are paying all of it and the rich Americans and the rich Chinese are paying none of it.