April 17, 2024

Taylor Daily Press

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Airbus CEO warns: Brussels green drives investors to US

Airbus CEO warns: Brussels green drives investors to US

The Inflationary Reduction Act, also known as the IRA, is good news for the greening of the aviation industry, according to Fourey, as it supports more sustainable jet fuels. But from a European perspective this is less good news. “It attracts investment to America, so it’s very unfavorable for European industry,” says Fourie. “As a European, I think the IRA is very dangerous for Europe, and Europe is finding it difficult to respond.”

Many new measures are coming from Brussels to reduce greenhouse gas emissions, but according to Fourie, these too often involve tax increases. “Europe has opted for more coercive measures, with taxes and sanctions, to transform its own industry. But it’s more interesting to go to places where you get help and don’t get caught in taxes. So in that sense America kicks in. It’s a messy game.”

If it’s up to Faury, the EU should be “encouraged” by Joe Biden’s billion-dollar package. Now only “half-measures” are on the table, which worries the Airbus boss.

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