Climate change has become a crucial issue for the air transport industry. Back in 1999, the United Nation's Intergovernmental Panel on Climate Change published a specific report on Aviation and the Global Atmosphere. Since then policymakers as well as airline managers have taken a variety of measures to reduce the environmental impact of aviation. However, the implementation of mitigation measures in a global industry provides several challenges. The European Union has been forced to revise their comprehensive Emissions Trading Scheme, thereby causing competitive distortions between EU...