Despite the breathing room granted airlines by the near record low oil prices in recent years, the International Aviation Transport Association estimates that most airlines are no more than six weeks away from bankruptcy.As any retailer will tell you, the trick for staying in the black with narrow margins is to increase volumes; anything else puts you at risk of collapse. And the aviation industry is growing rapidly: it has doubled in size over the past 20 years, and is set to repeat this feat by 2035.This is problematic for those who are concerned about climate change and looking to drive transformation in aviation. What’s more, while most nations have committed to reducing their emissions by 2050 as part of the Paris Agreement, the aviation industry falls outside this arrangement.Joeri Rogelj, an expert on global carbon budgets, estimates that for the world to have a decent chance of keeping temperature increase below 1.5°C (beyond which we are likely to see severe climate disrupt...
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