1
Analysis of the environmental, social and 
governance information and performance 
of European airlines (from 2018 to 2020)
With special consideration for the use of European bailout 
and stimulus funds during the COVID-19 crisis

2
Authors: 
Eduardo Sánchez Jacob, Eduardo Soria Cáceres (Observatorio de RSC).
Reviewers: 
Paula González, Beatriz Aguilar y Orencio Vázquez (Observatorio de RSC).
Design and Layout: 
Estudio Bailando.
Published in Madrid (Spain), June 2022. 
Research carried out by Observatorio RSC on behalf of Greenpeace CEE.
 
The Observatorio de Responsabilidad Social Corporativa (Corporate Social Responsibility Observatory, 
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3
INDEX 
,_LJ\[P]L:\TTHY`....................................................................................................................5
Total Report
 
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4
Glossary
A4E: Airlines For Europe
A4D: Airlines For Dialogue
ACP: Airline Coordination Platform
CCFF: COVID Corporate Financing Facility
&(2&KLHI([HFXWLYH2τFHU
&)2&KLHI)LQDQFLDO2τFHU
CSR: Corporate Social Responsibility
DJSI: Dow Jones Sustainability Indices
EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization
EC: European Commission
ETF: European Transport Workers’ Federation
ETS (EU ETS):  European Union Emissions Trading System
EU: European Union
ESG: Environmental, Social and Governance
IAG: International Airlines Group
IATA: International Air Transport Association
ICAO: International Civil Aviation Organization
ILO: International Labour Organization
KLM: Koninklijke Luchtvaartmaatschappij (Royal Dutch Airlines)
NGEU: Next Generation European Union
NGO:  Non-Governmental Organization
OECD: Organisation for Economic Co-operation and Development
OHSAS: Occupational Health and Safety Assessment Series
SAF: Sustainable aviation Fuel
SAS: Scandinavian Airlines System
SURE: Support to mitigate Unemployment Risks in an Emergency
UK: United Kingdom
TAP: Transportes Aéreos Portugueses (Portuguese Air Transport)

5
EXECUTIVE SUMMARY
Abstract
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6
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1. Methodology
Table 1: Weighting scheme
AREA
WEIGHTING PERCENTAGE
CATEGORIES
Climate 
Change
50%
Policy and Commitment
Management system
GHG Emissions
Employment
20%
Workforce structure
Labour rights
Equality and 
non-discrimination
Dividends 
and incentives
15%
Dividends
Incentives
Lobbying
15%
Lobby transparency
Lobby ethics

7
2. Global results
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Table 2: Global results
TOTAL
Average 
2018-2020
2018
2019
2020
TAP
15.88
13.74
15.58
18.31
Ryanair
33.15
30.81
29.03
39.61
easyJet
36.58
30.95
33.36
45.42
Lufthansa
42.71
32.64
34.95
60.55
Air France-KLM
46.34
39.84
44.07
55.10
SAS
49.44
42.43
45.89
59.98
IAG
50.29
38.7
44.85
67.33
All companies
39.2
32.73
35.39
49.47
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Figure 1: Average score per area

8
3. Bailouts
EU policy responses to the COVID crisis
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Bailouts for European airlines included in the analysis
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Table 3: General data on bailouts
TOTAL AMOUNT
31,18 EUR 
billion
Number of bailout measures
20
Number of countries granting bailouts
13
% total amount with corporate 
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62.76%
% total amount with governance and 
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23.89%
(Based on public resources)

9
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4. Climate Change
4.1 Company results
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JVTWHUPLZ(SSVM[OLJVTWHUPLZVI[HPULKHZJVYLILSV^WVPU[ZHUKVUS`:(:HUK0(.ZJVYLKHIV]L
WVPU[ZV\[VM
Table 4: Bailouts amount distribution
Air France-KLM
 12.77
easyJet
2.24
IAG
3.64 
Lufthansa 
9
Ryanair
0.67
SAS
1.14
TAP
1.72
(Based on public resources)
Table 5: Climate change area scores
Total Climate Change
Company
Policy and 
Commitment
Management System
GHG missions
Total
TAP
5
12
10.5
8.99
Ryanair
35.33
24
8.5
21.33
EasyJet
37.67
53.33
11
31.37
Air France-KLM
32
60
17
33.34
Lufthansa
38.33
76
10.5
39.41
IAG
53.33
65.33
13.83
41.12
SAS
49
60
34
48.57
Average
35.81
50.09
15.05
32.02

10
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WVPU[ZMVSSV^LKI`7VSPJ`HUK*VTTP[TLU[^P[OWVPU[Z;OLSV^LZ[ZJVYLZ^LYLMVY[OL,TPZZPVUZ
7LYMVYTHUJLJH[LNVY`^P[OHUH]LYHNLVMWVPU[Z
4.2 Companies’ Greenhouse Emissions
0U HSSJVTWHUPLZHWHY[MYVT:(:PUJYLHZLK[OLPYLTPZZPVUZ0UHSSJVTWHUPLZKLJYLHZLK[OLPY
LTPZZPVUZHZHYLZ\S[VM[OL[YH]LSYLZ[YPJ[PVUZ;OLHPYSPULZJVUZPKLYLK[VIL[OLTVZ[WVSS\[PUNHYL3\M[OHU-
ZH0(.HUK(-234HSS^P[OYLWVY[LKLTPZZPVUZVMHIV]LTPSSPVU[VUULZVM*6LX\P]HSLU[LHJOPU[OL
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VJJ\WHUJ`YH[L/V^L]LY[OPZPUKPJH[VYKVLZUV[TLHZ\YL[OLYLHSPTWHJ[VUJSPTH[LJOHUNLILJH\ZLP[KVLZUV[
JVUZPKLYUVU*6NYLLUOV\ZLNHZ./.LTPZZPVUZHUK^OLYL[OLZLHYLLTP[[LK
4.3 Companies’ GHG reduction commitments
4HU`VM[OLJVTWHUPLZOH]LLZ[HISPZOLKLU]PYVUTLU[HSNVHSZHUK[HYNL[ZPU[OLWHZ[KLJHKLOV^L]LY[OL`
OH]LUV[YLWVY[LKPUKL[HPSVU[OLPYJVTWSPHUJLLN(-2340UZVTLJHZLZ[OLJVTTP[TLU[ZHUK[HYNL[Z
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LTPZZPVUZ[`WPJHSS`PUJS\KL[OLMVSSV^PUNTLHZ\YLZ!
ҋ-SLL[TVKLYUPaH[PVU
ҋ*VU[YPI\[PVU[VHLYVUH\[PJHSYLZLHYJO
ҋ:\Z[HPUHISL(]PH[PVU-\LSZ
ҋ6WLYH[PVUHSTLHZ\YLZ
ҋ:\WWVY[PUN[OLPTWSLTLU[H[PVUVM[OLNSVIHSJSPTH[LHNYLLTLU[*69:0(
ҋ9LN\SH[VY`HUKWYVHJ[P]LVMMZL[[PUN
;OL \ZL VM :\Z[HPUHISL (]PH[PVU -\LSZ :(- PZ NYHK\HSS` PUJYLHZPUN OV^L]LY P[ PZ Z[PSS PUZPNUPÄJHU[ (SS
JVTWHUPLZHWHY[MYVT,HZ`1L[HUK9`HUHPYJSHPT[VZ\WWVY[[OL:(-WYVNYHTTLI\[KVUV[WYV]PKLHU`
PUMVYTH[PVUHIV\[[OLPYPU]LZ[TLU[PU[OLZLM\LSZ6US`:(:HUK(PY-YHUJL234YLWVY[[OLWLYJLU[HNLVM
:(-\ZLKZPUJL HUK[OLYLWVY[LK\ZLPZ]LY`SV^-VYL_HTWSL(-234YLWVY[LK:(-JVUZ\TW[PVU
VM R[VUULZPU HUKR[VUULZPUHTV\U[PUN[VH[V[HSVMHUKVMJVU]LU-
[PVUHSH]PH[PVUM\LS\ZLKPU[OVZL`LHYZYLZWLJ[P]LS`
Table 6: Companies total COLX emissions
CO2eq total emissions 
(millions of tonnes)7
2018
2019
2020
Air France – KLM
33.37
34.20
17.09
easyJet
9.58
10.44
5.39
IAG
38.89
39.91
14.32
Lufthansa
44.0
44.1
15.1
Ryanair
11.84
12.54
4.96
SAS
4.31
4.21
1.80
TAP
N.I.
N.I.
N.I.
(Based on public companies annual reports/sustainability reports, 2018-2020)

11
(SSVM[OLHPYSPULZHUHS`ZLKWSHU[VYLUL^[OLPYÅLL[[VTHRLP[TVYLLѝJPLU[HUKSLZZWVSS\[PUN0U
[OLJVTWHUPLZWOHZLKV\[[OLPYTVZ[WVSS\[PUNHPYJYHM[I\[VUS`0(.HUK:(:YLK\JLK[OLH]LYHNL
HNLVM[OLPYÅLL[IL[^LLUHUK0U[OLJVU[L_[VM[OLLJVUVTPJJYPZPZHUKHPYJYHM[Z\YWS\ZLZ
P[^PSSILKPѝJ\S[MVYHPYSPULZ[VWYPVYP[PZL[OLYLUL^HSVM[OLPYÅLL[
4.4 Companies’ Management System
(SSHPYSPULZL_JLW[;(7OH]LHULU]PYVUTLU[HSTHUHNLTLU[Z`Z[LTPUJS\KPUNHJSPTH[LJOHUNL]HYPHISLHUK
TVZ[OH]LPTWSLTLU[LK[OL0:6JLY[PÄJH[PVU
(SS[OLHPYSPULZPKLU[PM`[OLTHPUJSPTH[LYPZRZ^P[OPU[OLPYI\ZPULZZ0UHSSJVTWHUPLZHWHY[MYVT;(7YL-
WVY[LK[OLPYJSPTH[LPUMVYTH[PVU[V[OL*HYIVU+PZJSVZ\YL7YVQLJ[*+7MYHTL^VYR^OLYLZJVYLZHYLNP]LU[V
[OLHPYSPULZ0(.OHZHZJVYLVM(HZHJVTWHU`¸0TWSLTLU[PUN*\YYLU[)LZ[7YHJ[PJLZ¹^P[O(-»ZHUK9`HUHPY
ZJVYPUN)HZHPYSPULZ¸;HRPUN*VVYKPUH[LK(J[PVUVU*SPTH[L0ZZ\LZ¹
5. Labour
(S[OV\NO^VYRPUNJVUKP[PVUZPU[OLHPYSPULPUK\Z[Y`OH]L[YHKP[PVUHSS`ILLUVMHOPNOZ[HUKHYKTVYL
YLJLU[S`PUJVYWVYH[LKWLYZVUULSOH]LILLUVM[LUZ\IQLJ[LK[VWYLJHYPV\Z^VYRPUNJVUKP[PVUZ^P[O
[OLLTLYNLUJLVM]HYPV\ZMVYTZVMV\[ZV\YJPUNHUKH[`WPJHSLTWSV`TLU[TVKHSP[PLZ;OLYPZPUNWYLJH-
YPV\ZULZZPU[OL`LHYZWYPVY[V[OLJYPZPZPUHKKP[PVU[V[OLKL]HZ[H[PUNLMMLJ[ZVM[OL*6=0+ JYPZPZ
P[ZLSMJYLH[LHULU]PYVUTLU[VM\UJLY[HPU[`HIV\[OPYPUNHUK^VYRPUNJVUKP[PVUZPU[OLZLJ[VY
5.1 Company results
Table 7: Labour area scores 
Total Labour
Company
Workforce Structure
Labour rights
Equality & 
Non-discrimination
Total
TAP
18.61
23.61
12.5
18.06
Lufthansa
31.67
22.22
11.67
19.21
Ryanair
26.46
22.22
26.67
26.4
EasyJet
13.23
19.84
46.67
31.16
SAS
19.44
72.22
41.67
42.06
Air France – KLM
56.55
45.83
70
60.79
IAG
49.4
47.62
70
60.97
Average
30.77
36.22
39.88
36.95
  
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JVTWHUPLZ^P[O[OLOPNOLZ[ZJVYLZ^LYL0(.^P[O HUK(PY-YHUJL234^P[O ^OPSL;(7HUK3\M-
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12
5.2 Workforce structure
 
Only 2 airlines report on temporary work and 3 on part-time workers in their workforce. The 
variations reported by the companies for both types of contracts do not allow the inference of 
a clear trend regarding the impact of the crisis on them(PY-YHUJL234HUK0(.YLWVY[VU[OLWLY-
JLU[HNLVM^VYRLYZ^P[OH[LTWVYHY`JVU[YHJ[PUIV[OJHZLZH[HYV\UKVM[OL^VYRMVYJLPU[OLWLYPVK
HUHS`ZLK>VYRLYZ^P[OWHY[[PTLJVU[YHJ[ZYLWYLZLU[HYV\UKVM(PY-YHUJL»Z^VYRMVYJLHUKVM
0(.»ZPU[OLWLYPVKHUHS`ZLK0U[OLJHZLVM3\M[OHUZH[OPZWLYJLU[HNLNVLZMYVT PUHUK [V
PUHJPYJ\TZ[HUJL[OH[[OLJVTWHU`Q\Z[PÄLZHZWHY[VMP[ZYLZ[Y\J[\YPUNWYVNYHTTL"3\M[OHUZH
PZ[OLVUS`JVTWHU`[OH[WYV]PKLZHQ\Z[PÄJH[PVUMVY[OLPUJYLHZLPUWHY[[PTL^VYRLYZ
;OL*6=0+ JYPZPZOHKHU\UWYLJLKLU[LKPTWHJ[VU[OLU\TILYVMLTWSV`LLZ!VUH]LYHNL[OLHPYSPULZ»
^VYRMVYJLKLJYLHZLKI`IL[^LLU HUK
 
 
 
 
 
 
Table 8: Percentage increase or decrease in the workforce  
2017-2019
2019-2020
Air France-KLM
+3.1%
-8.71%
EasyJet
+21%
-1.25%
IAG
+4.12%
-8.21%
Lufthansa
+6.93%
-9.13%
Ryanair
+18.41%
-13.04%
SAS
+11.09%
-34.01%
TAP
-17.86%
-24.77%
(Based on companies annual reports 2017-2020)
0UHKKP[PVU[V^VYRMVYJLYLK\J[PVU[OLHPYSPULZHKVW[LKV[OLY]VS\U[HY`TLHZ\YLZYLSH[LK[V[OLYLK\J[PVU
VMSHIV\YJVZ[ZHUK[VVRWHY[PU]HYPV\ZNV]LYUTLU[QVIZ\WWVY[ZJOLTLZ0U[OLJVU[L_[VML_JLW[PVUHSP[`
HUKPTTLKPHJ`\UKLY[OL[OYLH[VMIHURY\W[J`[OLWVZZPIPSP[PLZMVY^VYRLYZ[VPUÅ\LUJL[OLZ[YH[LNPJKLJP-
ZPVUZVMJVTWHUPLZHUKNV]LYUTLU[Z^LYLSHYNLS`SPTP[LK
 
5.3 Labour rights
6US`[^VJVTWHUPLZYLWVY[VUJV]LYHNLVMJVSSLJ[P]LSHIV\YHNYLLTLU[Z!0(.HUK:(:0U[OLJHZLVM
0(.[OPZJV]LYHNLKLJYLHZLKZSPNO[S`IL[^LLU HUK9LNHYKPUN:(:[OLJVSSLJ[P]L
HNYLLTLU[JV]LYHNLPZWYHJ[PJHSS`[V[HSHJJVYKPUN[V:(:»Z:\Z[HPUHIPSP[`9LWVY[W^OPJOZ[H[LZ
[OH[¸   VMHSS:(:LTWSV`LLZHYLJV]LYLKI`JVSSLJ[P]LIHYNHPUPUNHNYLLTLU[Z^P[O[OLTHPUL_JLW-
[PVUVMZLUPVYTHUHNLTLU[H[.YV\WSL]LS¹
3PTP[LKPUMVYTH[PVUVUJVUMSPJ[ZHUKZ[YPRLZPZNP]LUPU[OLHPYSPULZ»HUU\HSYLWVY[Z0U[V[HS[OLZL]LU
HPYSPULZHUHS`ZLKYLNPZ[LYLKH[SLHZ[ZPNUPMPJHU[Z[YPRLZIL[^LLU1HU\HY`HUK+LJLTILY
(M[LY`LHYZVMPU[LUZLSHIV\YJVUMSPJ[Z[OLYLZWVUZL[V[OLWHUKLTPJZLLTZ[VOH]LW\[VUOVSKZVTL
VM[OL\UPVUKLTHUKZYLNHYKPUN[OLNYV^PUNWYLJHYPV\ZULZZVM^VYRPUNJVUKP[PVUZPU[OLHPYSPULZ;OL
JH\ZLZVM[OLHUK JVUMSPJ[ZYLTHPUSHYNLS`\UYLZVS]LKHUK[OL¸JVZ[YLK\J[PVU¹TLHZ\YLZ
PU[OL^HRLVM[OL*6=0+ JYPZPZTH`SLHK[VHTVYLWYLJHYPV\Z^VYRMVYJL[OH[YLPNUP[LZ[OLZLKPZ-
W\[LZVYNLULYH[LZUL^VULZ

13
5.4 Equality and diversity
(SSVM[OLHUHS`ZLKHPYSPULZOH]LHNLULYHSJVTTP[TLU[[VWYVTV[PUNLX\HSVWWVY[\UP[PLZPU[OLPY^VYRMVYJL
HUKTHUHNLTLU[WHY[PJ\SHYS`VUNLUKLYPZZ\LZ/V^L]LYPUNLULYHS[OLZLJVTTP[TLU[ZHYLUV[X\HU[PÄH-
ISLHUKKVUV[OH]LPU[LYPTKLHKSPULZ
>VTLUOH]LWYVNYLZZP]LS`ILLUHWWVPU[LK[VWVZP[PVUZVU[OLTHUHNLTLU[IVHYKZVM[OLJVTWHUPLZ
HUHS`ZLK!^OPSLPUVUS`[^VJVTWHUPLZOHKH[SLHZ[^VTLUVU[OLPYIVHYKVMKPYLJ[VYZI`
[OLYL^LYLHSYLHK`MV\YJVTWHUPLZ[OH[YLHJOLK[OPZWLYJLU[HNLHUK[^VVM[OLYLTHPUPUN[OYLLJVTWHUPLZ
OHKMLTHSLTHUHNLYPHSYLWYLZLU[H[PVUH[HYV\UK,HZ`1L[HUK0(.HYL[OLJVTWHUPLZ^P[O[OLTVZ[
NLUKLYLX\HSJVTWVZP[PVUVM[OLPYIVHYKVMKPYLJ[VYZPU^P[O^VTLU-\Y[OLYTVYLPU[OL
:JHUKPUH]PHUHPYSPULYLHJOLKM\SSWHYP[`VM
/V^L]LY[OLWYLZLUJLVM^VTLUPUV[OLYHYLHZVMTHUHNLTLU[YLTHPUZH[HSV^SL]LSVYPZUV[YLWVY[LK
5VULVM[OLZL]LUHPYSPULZOHKHMLTHSL*,6IL[^LLUHUKHUK^VTLUPUL_LJ\[P]LWVZP[PVUZ
JVU[PU\LK[VILHTPUVYP[`
6. Dividends and incentives
0UHUK HSSVM[OLHPYSPULZHUHS`ZLK^P[O[OLL_JLW[PVUVM;(7YLNPZ[LYLKWVZP[P]LUL[YLZ\S[Z
0U[OLKLJSPULPUHPYSPULHJ[P]P[`HZHYLZ\S[VM[OLWHUKLTPJOHKKL]HZ[H[PUNLќLJ[ZVU[OLPYÄUHUJPHS
YLZ\S[ZHUKHSS[OLJVTWHUPLZHUHS`ZLKYLJVYKLKSVZZLZ(Z^PSSILHUHS`ZLKILSV^[OLZLULNH[P]LYLZ\S[Z
OHKHUPUÅ\LUJLVUKP]PKLUKKPZ[YPI\[PVUHUKTHUHNLYZ»YLT\ULYH[PVUWHY[PJ\SHYS`]HYPHISLJVTWVULU[Z
Z\JOHZZOVY[VYSVUN[LYTPUJLU[P]LZ
6.1 Company results
Table 9: Dividends and Incentives area scores
Total Dividends and Incentives
Company
Dividends
Incentives
Total
TAP
50
30
40
EasyJet
50
46.67
48.33
Air France - KLM
66.67
50
58.33
IAG
66.67
80
73.33
Ryanair
100
70
85
SAS
100
70
85
Lufthansa
83.33
93.33
88.33
Average
73.81
62.86
68.33

14
3\M[OHUZHWVPU[Z9`HUHPYHUK:(:HJOPL]L[OLOPNOLZ[ZJVYLZ^OPSL;(7HUKLHZ`1L[
VI[HPU[OLSV^LZ[ZJVYLZ;OL+P]PKLUKZJH[LNVY`ZJVYLWVPU[ZPZOPNOLY[OHU[OL0UJLU[P]LZVUL
6.2 Dividends
;OLKPZ[YPI\[PVUVMKP]PKLUKZPZ\Z\HSS`SPURLK[V[OLYLZ\S[ZHUKWYVZWLJ[ZVM[OLJVTWHU`[^VHZWLJ[Z
ZLYPV\ZS`[OYLH[LULKI`[OL*6=0+JYPZPZPU[OLJHZLVMHPYSPULZBeyond the dividend ban conditions 
established by some of the government bailouts, the 2020-early 2021 context was not suitable 
for dividend distribution; in addition, it was not a common practice between 2018 and 2019
6US`LHZ`1L[WHPKKP]PKLUKZPU HUK^P[OH[V[HSHTV\U[VMTPSSPVUL\YVZ;OLZL
KP]PKLUKZYLWYLZLU[HOPNOWYVWVY[PVUVMWYVÄ[HM[LY[H_LZPUHUK +LZWP[L
SVZZLZPULHZ`1L[WHPK ,<9TPSSPVUPUKP]PKLUKZ0(.YLJVYKZ[OLOPNOLZ[HTV\U[ZKPZ[YPI\[LK
PU,<9TPSSPVUHUK ,<9TPSSPVU^OPSL3\M[OHUZHVUS`KPZ[YPI\[LKKP]PKLUKZPU
,<9TPSSPVU
6.3 Incentives
:LUPVYTHUHNLTLU[JVTWLUZH[PVUKLJYLHZLKUV[HIS`IL[^LLUHUK HUKZ\ќLYLKHUL]LU
Z[LLWLYKLJYLHZLIL[^LLU HUKHZHYLZ\S[VM[OYLLMHJ[VYZ!P[OLKL[LYPVYH[PVUVM[OLÄUHUJPHS
ÄN\YLZ\Z\HSS`\ZLKPU[OLJHSJ\SH[PVUVM]HYPHISLYLT\ULYH[PVUPP[OLJVUKP[PVUZVMJLY[HPUIHPSV\[HNYLL-
TLU[ZHUKPPP]VS\U[HY`PUP[PH[P]LZ[VYLK\JLVYKLMLYWH`TLU[ZI`ZLUPVYTHUHNLTLU[;OLJVTWHYHIPSP[`
VM[OLKH[H[HRPUNPU[VHJJV\U[[OLKPќLYLU[JVTWVZP[PVUVM[OLJVYWVYH[LNV]LYUHUJLZ[Y\J[\YLZHUK[OL
KP]LYZP[`PU[OLZJVWLVM[OLPUMVYTH[PVUYLWVY[LKZOV\SKIL[HRLUPU[VHJJV\U[;OLPUMVYTH[PVUYLWVY[LK
I`JVTWHUPLZTH`KPќLYKLWLUKPUNVU[OLPYNV]LYUHUJLZ[Y\J[\YLZSL]LSZVM[YHUZWHYLUJ`HUKSLNPZSH[P]L
MYHTL^VYRZVMYLMLYLUJL
0(.^HZ[OLHPYSPUL^P[O[OLOPNOLZ[YLT\ULYH[PVUMVYZLUPVYTHUHNLYZPUHUK YHURPUN[OPYKPU
[OL`LHY6U[OLV[OLYOHUK;(7HUK(PY-YHUJL234BDYLWVY[LK[OLSV^LZ[YLT\ULYH[PVUZL]LU
[OV\NO[OL-YLUJO.YV\WPZ[OLVUS`VUL[OH[PUJYLHZLKZLUPVYTHUHNLTLU[YLT\ULYH[PVUPU6]L-
YHSS[OLYLT\ULYH[PVUWHPK[VZLUPVYTHUHNLYZKLJYLHZLKI`IL[^LLU HUKHM[LYOH]PUN
KLJYLHZLKI`IL[^LLUHUK ;OLYLT\ULYH[PVUVM[OLTHUHNLTLU[IVKPLZZOV^Z[OH[[OL
HTV\U[ZWHPKHYLJVUJLU[YH[LKVU[OLL_LJ\[P]LKPYLJ[VYZHUKPUWHY[PJ\SHY[OLÄN\YLVM[OL*,6
;OLWH`TLU[VM]HYPHISLYLT\ULYH[PVUZOHZPUJYLHZLKZSPNO[S`IL[^LLU[OL`LHYZHUK ^P[OH
KYHZ[PJYLK\J[PVUVMIL[^LLU HUK;OPZYLK\J[PVUPZHZPU[OLKP]PKLUKJHZLK\L[V[OL
PTWHJ[VM[OL*6=0+ JYPZPZVU[OLLJVUVT`HUKM\[\YLWYVQLJ[PVUZVM[OLHPYSPULZHUHS`ZLK^OPJOTHRL
\WTVZ[VM[OLJYP[LYPH\ZLK[VKL[LYTPUL]HYPHISLYLT\ULYH[PVU)HPSV\[ZHNYLLKI`3\M[OHUZH(PY-YHUJL
HUK:(:PUPUJS\KLJVUKP[PVUZYLSH[LK[V[OLSPTP[H[PVUVM[OLYLT\ULYH[PVUVMTHUHNLYZ/V^L]LY
[OLZLIHPSV\[Z^LYLHNYLLKHM[LY[OLNLULYHSZOHYLOVSKLYZ»TLL[PUNZPU^OPJO[OLZLYLT\ULYH[PVUZ^LYL
HWWYV]LK;OLYLMVYL[OLKP]PKLUKIHU^PSS[HRLLќLJ[MYVTÄZJHS`LHYHUKPZUV[HWWSPJHISL[V[OL
HTV\U[ZKPZ[YPI\[LKPU^P[OYLZWLJ[[V 
9LNHYKPUN[OLJVUZPKLYH[PVUVM,:.[HYNL[ZPU[OL]HYPHISLYLT\ULYH[PVUZJOLTLZVMZLUPVYL_LJ\[P]LZ[OL
HUHS`ZPZZOV^ZHWYVNYLZZP]LPUJS\ZPVU[OH[JHUILJVUZPKLYLKWVZP[P]L!^OPSLPUVUS`[^VV\[VM[OL
ZL]LUJVTWHUPLZJSHPTLK[VPUJS\KL[OPZ[`WLVMJYP[LYPHPU[OLPYYLT\ULYH[PVUWVSPJPLZPU[OPZ^HZ[OL
JHZLMVYHSSJVTWHUPLZ^P[O[OLL_JLW[PVUVM;(7>OPSL[OPZPUJS\ZPVUJHUILJVUZPKLYLKHZ[LWPU[OLYPNO[
KPYLJ[PVUHPYSPULZZOV\SKWYV]PKLJSLHYLYPUMVYTH[PVUVU[OLZWLJPÄJPUKPJH[VYZ[OH[HYLJVUZPKLYLK^OLU
LZ[HISPZOPUNVY]LYPM`PUNHJOPL]LTLU[VM[OLNVHS

15
7. Lobbying
0UYLJLU[`LHYZHPYSPULZOH]LTVIPSPZLKSHYNLHTV\U[ZVMYLZV\YJLZ[VM\Y[OLY[OLPYPU[LYLZ[ZLP[OLYKPYLJ[S`
VY[OYV\NOLU[P[PLZZ\JOHZ[OL0(;(VY(,;OLZP_JVTWHUPLZ^P[OHWYVÄSLPU[OL,<9LNPZ[LYHSSL_JLW[
;(7YLWVY[HUHUU\HSPU]LZ[TLU[PUHJ[P]P[PLZJV]LYLKI`[OL9LNPZ[LYVMHIV\[,<9TPSSPVUHUK
YLNPZ[LYLKSVII`PZ[Z0UK\Z[Y`JVHSP[PVUZZ\JOHZ0(;((,(+HUK(*7HSZVYLWVY[HUU\HSJVZ[ZHYV\UK
TPSSPVUL\YVZHUKYLNPZ[LYLKSVII`PZ[Z
0U[OLTPKZ[VM[OLLTLYNLUJLVM[OL*6=0+ JYPZPZ[OLJSPTH[LSVII`PUNHJ[P]P[PLZVM[OLHPYSPULZLJ[VY
PU[LUZPÄLKHUK^LYLVYPLU[LK[VYLX\LZ[[H_IYLHRZHUKW\ISPJZ\WWVY[9(JJVYKPUN[V*VYWVYH[L,\YVWL
6IZLY]H[VY`¸*VYVUH3VII`>H[JO¹PU4H`[OLHPYSPULPUK\Z[Y`SVII`NYV\WZZ\JOHZ0(;(HUK(,
^LYLW\ZOPUNMVYHTVYH[VYP\TVUUL^[H_H[PVUHZ^LSSHZV[OLY[H_TLHZ\YLZKPZJ\ZZLK^P[OPU[OL,\YV-
WLHU.YLLU+LHS^OPJOPUJS\KLHYL]PL^VM[H_L_LTW[PVUZVUH]PH[PVUM\LSZ10
7.1 Company results
 
 
  
Table 10: Lobbying area results
Total Lobbying
Company
Lobbying Activity
Lobbying Ethics
Total
TAP
12.12
11.11
11.82
SAS
27.27
25
26.59
Ryanair
42.42
14.81
29.7
Lufthansa
51.52
11.11
39.39
IAG
51.52
25
43.56
EasyJet
54.55
37.5
49.43
Air France - KLM
72.73
25
58.41
Average
44.59
21.36
36.99
(PY-YHUJL234OHZ[OLOPNOLZ[ZJVYLMVYP[ZWHY[^OPSL;(7VUS`ZJVYLZWVPU[ZHZP[MHPSZ[V
WYV]PKLHU`KH[HVU[OPZPZZ\LPUP[Z(UU\HS9LWVY[Z
)`JH[LNVY`[OLH]LYHNLZJVYLMVYSVII`PUNHJ[P]P[`PZ OV^L]LY[OLPUMVYTH[PVUWYV]PKLKPZ\Z\HSS`
HNLULYHSKLZJYPW[PVUVM[OLJVTWHU`»ZW\ISPJWVZP[PVUZPUYLSH[PVU[VYLN\SH[VY`PZZ\LZVYP[ZTLTILYZOPW
VMZLJ[VYHSHZZVJPH[PVUZ3P[[SLPUMVYTH[PVUPZWYV]PKLKVU[OLYLZV\YJLZHZZPNULK[V[OLSVII`PUNM\UJ[PVU
IL`VUK[OH[YLWVY[LKPU[OL,<;YHUZWHYLUJ`9LNPZ[LYVY[OLZWLJPÄJHJ[P]P[PLZPU^OPJOP[PZJHYYPLKV\[
-VYP[ZWHY[[OLH]LYHNLZJVYLMVYSVII`PUNL[OPJZPZVUS`V\[VMTHPUS`HZHYLZ\S[VM[OLSV^
SL]LSVMPUMVYTH[PVUVU[OLPU[LYUHSYLN\SH[PVUVMSVII`PUNHUK[OLSHJRVM[YHPUPUNVMZLUPVYTHUHNLYZVU
ZVJPHSHUKLU]PYVUTLU[HSPZZ\LZ

16
7.2 Lobbying activity
;YHUZWHYLUJ`VUSVII`PUNHJ[P]P[PLZHUKYLZV\YJLZPZJVUZPKLYLKNVVKWYHJ[PJLOV^L]LY[OLPUMVYTH[PVU
WYV]PKLKI`[OLJVTWHUPLZPZ\Z\HSS`MHYMYVTZWLJPÄJ
>P[O[OLL_JLW[PVUVM;(7PUHSS[OLJVTWHUPLZHUHS`ZLKTLU[PVU[OLTHPUHZZVJPH[PVUZMVY[OLPY
ZLJ[VYIL[^LLUHUKLP[OLYPU[OLPYHUU\HSYLWVY[ZVYPU[OLPYWYVÄSLPU[OL,<;YHUZWHYLUJ`
9LNPZ[LY(,PZ[OLVYNHUPZH[PVU^P[O[OLTVZ[TLTILYZ^P[OTLTILYZOPWVMHSS[OLHPYSPULZHUHS`ZLK
L_JLW[:(:MVSSV^LKI`0(;(^P[OÄ]LTLTILYZ(+HUK(*7^P[O[OYLLTLTILYZHUK,\YVWLHU9L-
NPVUZ(PYSPULZ(ZZVJPH[PVU,9(^P[OTLTILYZ/V^L]LYUVJVTWHU`WYV]PKLZPUKP]PK\HSKH[HVUP[Z
JVU[YPI\[PVUZ[V[OLZLVYNHUPZH[PVUZ
,U]PYVUTLU[HSYLN\SH[PVUOHZILLU[OLHPYSPULZ»THPUSVII`PUN[HYNL[[VPUMS\LUJLWVSPJ`THRPUN;OL
HPYSPULZ HUK [OL VYNHUPZH[PVUZ [OH[ YLWYLZLU[ [OLT [Y` [V WYLZLU[ [OLTZLS]LZ W\ISPJS` HZ JVTTP[-
[LKHJ[VYZPU[OLMPNO[HNHPUZ[JSPTH[LJOHUNL\ZPUNHZ[OLPYTHPUHYN\TLU[]VS\U[HY`PUP[PH[P]LZVU
VMMZL[[PUN IPVM\LSZ UL^ HPYJYHM[Z VY YLK\JPUN ^HZ[L VU IVHYK /V^L]LY PU SPUL ^P[O 0(;( VY (,
[OL`VWWVZLH]PH[PVU[H_LZH[[OLUH[PVUHSSL]LSHUKWYVTV[L[OLPUK\Z[Y`»ZV^U]VS\U[HY`TLHZ\YL
*69:0(HZ[OLWYLMLYHISLZ[HUKHYK0U[OLJHZLVM,HZ`1L[HUK3\M[OHUZH[OLZLHYLJVTTP[[LK[VH
OHYTVUPZH[PVUVMIV[OZ`Z[LTZ^P[OPU[YH,\YVWLHUMSPNO[ZYLTHPUPUN^P[OPU,<,;:
Lobbying ethics
0UMVYTH[PVUVU[OLYLN\SH[PVUVM[OLSVII`PUNM\UJ[PVUPZWYHJ[PJHSS`UVUL_PZ[LU[5VULVM[OLZL]LUHPYSP-
ULZHUHS`ZLKTLU[PVUOH]PUNHZWLJPÄJWVSPJ`PU[OPZYLNHYKHUKVUS`9`HUHPYPUJS\KLZHZWLJPÄJTLU[PVU
VUSVII`PUNYLN\SH[PVUPUP[Z(U[P*VYY\W[PVU7VSPJ`11-V\YJVTWHUPLZ(PY-YHUJLLHZ`1L[0(.
IHUKPYLJ[JVU[YPI\[PVUZ[VWVSP[PJHSWHY[PLZHUK[OLPYJHUKPKH[LZI\[UVULVM[OLTIHUJVU[YPI\[PVUZ[V
MV\UKH[PVUZVYV[OLYVYNHUPZH[PVUZSPURLK[VWVSP[PJHSWHY[PLZ
;OLKP]LYZP[`VMWYVMLZZPVUHSHUKHJHKLTPJIHJRNYV\UKZPU[OLTHUHNLTLU[WYVÄSLZVMHJVTWHU`IL`VUK
[OL\Z\HS[LJOUPJHSSLNHSHUKÄUHUJPHSWYVÄSLZPZHM\UKHTLU[HSHZWLJ[MVY[OLPUJVYWVYH[PVUVMUL^WVPU[Z
VM]PL^PU[OLKLIH[LVUJVYWVYH[LTHUHNLTLU[HUKLUHISLZNYLH[LYVWLUULZZ[V^HYKZ,:.PZZ\LZ
/V^L]LYUVULVM[OLZL]LUJVTWHUPLZOHZZLUPVYL_LJ\[P]LZ^P[OYLSL]HU[[YHPUPUNHUKL_WLYPLUJLPU[OL
LU]PYVUTLU[HSÄLSKHUKVUS`VULJVTWHU`OHZHZLUPVYL_LJ\[P]L^P[OL_WLYPLUJLPUZVJPHSTH[[LYZ;OPZ
,:.IHJRNYV\UKKLÄJP[ZOV\SKILHKKYLZZLK[OYV\NO[VWTHUHNLTLU[[YHPUPUNI\[UVJVTWHU`YLMLYZ
ZWLJPÄJHSS`[VHU`[YHPUPUNVU[OLZLPZZ\LZWYV]PKLK[V[OLIVHYKVMKPYLJ[VYZ

17
1   For example: In cases where workforce reduction in 2018 can only be measured using data from 2017.
2   Covid-19 EU Policy Watch: Database of national-level responses. European Foundation for the Improvement of Living and Working Conditions. 
https://static.eurofound.europa.eu/covid19db/index.html
3   European Commission. SURE. 
https://ec.europa.eu/info/business-economy-euro/economic-and-ﬁscal-policy-coordination/ﬁnancial-assistance-eu/funding-mechanisms-and-facilities/sure_es
4   European Commission. The State Aid Temporary Framework. 
https://ec.europa.eu/competition-policy/state-aid/coronavirus/temporary-framework_en
5   European Union. COMMUNICATION FROM THE COMMISSION TEMPORARY FRAMEWORK FOR STATE AID MEASURES TO SUPPORT 
THE ECONOMY IN THE CURRENT COVID-19 OUTBREAK. 2021. 
https://ec.europa.eu/competition-policy/system/ﬁles/202103/TF_informal_consolidated_version_as_amended_28_january_2021_en.pdf
6   Bank of England. Covid Corporate Financing Facility (CCFF). 
https://www.bankofengland.co.uk/markets/covid-corporate-ﬁnancing-facility 
7   Some of the companies did not report the methodology used to assess their total emissions, whether they include scope 3 or offsets, so the data provi-
ded in the next table may not be calculated with a common criteria, and it affects the comparability of the company’s information.
8   The French Group reports only on BOD remunerations, while the other 6 companies reports also on other governance bodies remuneration (as advi-
sory or executive boards)
9   Frost, L. & Abnett, K. Coronavirus redraws battle lines on airline emissions. Reuters. 24  March 2020. 
https://www.reuters.com/article/us-health-coronavirus-%20airlines-climatech%20/%20coronavirus-redraws-battle-lines-on-airline-emissions-idUSKBN21B1RQ
10  Corporate Europe Observatory. Opportunistic lobbyists abuse the EU’s unprecedented health crisis. 1 May 2020. 
https://corporateeurope.org/en/2020/05/corona-lobby-watch
11  Ryanair, Antibribery & Anticorruption Policy. February 2020. 
https://investor.ryanair.com/wp-content/uploads/2020/02/Ryanair-Holdings-plc-ABAC-Policy.pdf
12  Air France – KLM Group, Air France-KLM, Total, Groupe ADP and Airbus Join Forces to Decarbonize Air Transportation and Carry Out The 
First Long-Haul Flight Powered By Sustainable Aviation Fuel Produced in France, May 2021 
https://www.airfranceklm.com/en/air-france-klm-total-groupe-adp-and-airbus-join-forces-decarbonize-air-transportation-and-carry-out
8. Greenwashing
0UYLJLU[KLJHKLZ[OLYLOHZILLUHNSVIHSJ\S[\YHSJOHUNL[OH[OHZPUJYLHZLK[OLKLTHUKMVYLU]PYVU-
TLU[HSJVTTP[TLU[ZMYVTSHYNLJVYWVYH[PVUZ*VTWHUPLZMLHYILPUNHZZVJPH[LK^P[OULNH[P]LPUMVYTH-
[PVUHIV\[[OLPYLU]PYVUTLU[HSPTWHJ["HUK[OL`HJ[P]LS`[Y`[VWVZP[PVU[OLWVZP[P]LHZWLJ[ZVM[OLPYLU]P-
YVUTLU[HSTHUHNLTLU[PUHK]LY[PZPUNJVYWVYH[LYLWVY[ZVYL]LUPUW\ISPJL]LU[ZZ\JOHZJSPTH[L[HSRZ
*VTWHUPLZ[Y`[VWYLZLU[[OLTZLS]LZHZ¸NYLLUIYHUKZ¹KLZWP[LOH]PUNPUTHU`JHZLZHX\LZ[PVUHISL
LU]PYVUTLU[HSWLYMVYTHUJL
;OLZPTWSLZ[^H`[VPKLU[PM`NYLLU^HZOPUN[LJOUPX\LZPU[OLHPY[YHUZWVY[ZLJ[VYPZ[OYV\NOX\LZ[PVUPUN
[OLSHJRVMVIQLJ[P]P[`VMPUMVYTH[PVUVU[OLLU]PYVUTLU[HSPTWHJ[VM[OLHJ[P]P[`P[ZLSM-\Y[OLYTVYL[OLYL
PZHUH[[LTW[[VZOPM[H[[LU[PVUVU[V]VS\U[HY`TLHZ\YLZZ\JOHZVќZL[[PUNWYVNYHTTLZVYWYVWVZLKHS-
[LYUH[P]L[LJOUVSVNPJHSZVS\[PVUZ[VMVZZPSM\LSZAs analysed throughout this report, the companies 
that are analysed embrace the decarbonisation discourse, but under their own rules, accor-
ding to their own deadlines and only to the extent that they can make this process functional 
to their interests
0UNLULYHS[OLPTWHJ[VU*6SL]LSZVMLTPZZPVUZVќZL[[PUNWYVNYHTZPZWYVIHIS`L_HNNLYH[LKI`JVT-
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18
Analysis of the environmental, social and governance information 
and performance of European airlines (from 2018 to 2020)
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1. INTRODUCTION
1   EEA, Total greenhouse gas emission trends and projections in Europe, 2020
https://www.eea.europa.eu/data-and-maps/indicators/greenhouse-gas-emission-trends-6/assessment-3  
2   Transport & Environment: Airlines are the biggest carbon emitters in four European countrie, 2019s 
https://www.transportenvironment.org/news/airlines-are-biggest-carbon-emitters-four-european-countries 
3   ICAO. Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). June 2021. 
https://www.icao.int/environmental-protection/CORSIA/Pages/default.aspx 
4   Transport & Environment Brieﬁng, March 2021: Corsia: worst option for the Climate
https://www.transportenvironment.org/wp-content/uploads/2021/07/2021_03_Brieﬁng_Corsia_EU_assessement_2021.pdf 
5   IATA. Air transport supports 65.5 million jobs and $2.7 trillion in economic activity. 2 October 2018. 
https://www.iata.org/en/pressroom/pr/2018-10-02-01/ 
6   ICAO. Annual Report: The world of air transport in 2019. 2019. 
https://www.icao.int/annual-report-2019/Pages/the-world-of-air-transport-in-2019.aspx 
7   ATA. $LUOLQH,QGXVWU\6WDWLVWLFV&RQųUP:DV:RUVW<HDURQ5HFRUG. 3 August 2021. 
https://www.iata.org/en/pressroom/pr/2021-08-03-01/ 
8   ibid.
9   EUROCONTROL Data Snapshot #2 on CO2HPLVVLRQVIURPŴLJKWVLQ. 26 January 2021 
https://www.eurocontrol.int/publication/eurocontrol-data-snapshot-co2-emissions-ﬂights-2020

20
Air Transport Sector in the EU 
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10   Mazareanu, E. Number of passengers carried by air in the European Union from 2008 to 2020. Statista. 4 October 2021. 
https://www.statista.com/statistics/1118397/air-passenger-transport-european-union/ 
11   Mazareanu, E. Net proﬁt per departing passenger of commercial airlines in Europe from 2015 to 2020. Statista.  4 June 2021. 
https://www.statista.com/statistics/1118125/net-proﬁt-per-passenger-of-commercial-airlines-europe/#statisticContainer 
12   European Commission. Mobility and Transport. 
https://transport.ec.europa.eu/index_en 
13   European Commission: “Reducing emissions from aviation”
https://ec.europa.eu/clima/eu-action/transport-emissions/reducing-emissions-aviation_en 
14   Debyser, A. & Pernice, D. Air transport: market rules. European Parliament Fact Sheets. June 2021. 
https://www.europarl.europa.eu/factsheets/en/sheet/131/luftverkehr-marktregelungen 
15   Transport & Environment: “EU sat on data showing beneﬁts of ending airlines’ tax break – leak”. 13 May, 2019 
https://www.transportenvironment.org/discover/eu-sat-data-showing-beneﬁts-ending-airlines-tax-break-leak/

21
2. RESEARCH OBJECTIVES: 
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22
3. METHODOLOGY
 
3.1 Research scope
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P[HSVUNLY[PTLZJHSLPZJVUZPKLYLK17 
-V\Y[OLTH[PJHYLHZJV]LYPUN]HYPV\Z[VWPJZYLSH[LK[V,:.PZZ\LZOH]LILLUHUHS`ZLK!LU]PYVUTLU[
JSPTH[LJOHUNLSHIV\YKP]PKLUKZHUKPUJLU[P]LZHUKSVII`PUN,HJOVM[OLZLHYLHZOHZILLUKP]PKLK
PU[VJH[LNVYPLZ^OPJOPU[\YUHYLTHKL\WVMHZL[VMPUKPJH[VYZ;OLZLMV\YHYLHZHYLJVUZPKLYLK
JYP[PJHSPZZ\LZPU[OLTHUHNLTLU[VMJVYWVYH[LZVJPHSYLZWVUZPIPSP[`PUJVTWHUPLZWHY[PJ\SHYS`PU[OL
JVU[L_[VMHJYPZPZZ\JOHZ[OLVULL_WLYPLUJLKZPUJL4HYJO
0U[OLMPYZ[WSHJLPUYLSH[PVU[VLU]PYVUTLU[HSPZZ\LZHZWLJ[ZYLSH[LK[VJSPTH[LJOHUNLOH]LILLU
JVUZPKLYLKHWYPVYP[`MYVTHMVYTHSWVPU[VM]PL^WVSPJPLZHUKJVTTP[TLU[ZI\[HSZVPUYLMLYLUJL[V
WLYMVYTHUJLPUYLSH[PVU[V./.LTPZZPVUZ
 
;OLHZWLJ[ZYLSH[LK[VLTWSV`LLZHYLHUHS`ZLKHJJVYKPUN[V[OLJVTWVZP[PVUVM[OL^VYRMVYJLSHIV\Y
YPNO[ZHUKLX\HSP[`HUKKP]LYZP[`0U[OPZ^H`PUMVYTH[PVUPZJVSSLJ[LKVU[OLU\TILYVMLTWSV`LLZ
HUK[OLPYLTWSV`TLU[TVKHSP[PLZ[OLMYHTL^VYRVMSHIV\YYPNO[ZHUKJVSSLJ[P]LIHYNHPUPUNHUK[OL
PTWSLTLU[H[PVUVMLX\HSP[`HUKKP]LYZP[`WVSPJPLZ
+P]PKLUKZHUKYLT\ULYH[PVUVMZLUPVYTHUHNLTLU[HYLM\UKHTLU[HSHZWLJ[ZVMJVYWVYH[LNV]LYUHU-
JL+P]PKLUKZKPZ[YPI\[PVUHS[OV\NO\ZLM\S[VH[[YHJ[PU]LZ[TLU[ZJHUPUJLY[HPUZP[\H[PVUZWVZLH
YPZRVMKLJHWP[HSPaH[PVUVM[OLJVTWHU`0U[OPZJVU[L_[PUMVYTH[PVU^PSSILJVSSLJ[LKVUJVTWHUPLZ»
KP]PKLUKWVSPJPLZHUKOV^[OL`OH]LILLUHMMLJ[LKI`[OL*6=0+JYPZPZ9LNHYKPUN[OLYLT\ULYH[PVU
VMTHUHNLYZP[ZX\HU[P[H[P]LL]VS\[PVU^PSSILHUHS`ZLKHZ^LSSHZ[OLJVTWVZP[PVUHUK[OLPUJVYWV-
YH[PVUVM,:.[HYNL[ZPU[OL]HYPHISLYLT\ULYH[PVUZJOLTLZ0U[OPZ^H`[OLPTWHJ[ZVM[OLJYPZPZVU
[OL]VS\TLHUKZ[Y\J[\YLVMYLT\ULYH[PVUHYLHUHS`ZLKHZ^LSSHZ[OL^H`PU^OPJOP[OHZILLU\ZLK
[VWYVTV[LNV]LYUHUJL^OPJOPZTVYLVYPLU[LKH[SLHZ[MVYTHSS`[VZ\Z[HPUHIPSP[`JYP[LYPH
3VII`PUNMVYP[ZWHY[PZVM[LUWYLZLU[LK\UKLYL\WOLTPZTZZ\JOHZ¸PUZ[P[\[PVUHSYLSH[PVUZ¹;OYV\NOKP-
ќLYLU[Z[YH[LNPLZPU[LY]LU[PVUPUW\ISPJJVUZ\S[H[PVUZWHY[PJPWH[PVUPUZLJ[VYHSPUP[PH[P]LZL[JJVTWHUPLZ
[Y`[VPUÅ\LUJLKPYLJ[S`VY[OYV\NO]HYPV\ZPUK\Z[Y`HZZVJPH[PVUZ[OH[NYV\W[OLTVU[OLHYLHZVMWVSP[PJHS
KLJPZPVU(S[OV\NOP[PZSLNP[PTH[LMVYJVTWHUPLZ[V[Y`[VWVZP[PVU[OLPYPU[LYLZ[ZPU[OLW\ISPJZWOLYL[OL
WV^LYVMPUÅ\LUJLVMJVYWVYH[LHJ[VYZPZ\Z\HSS`T\JONYLH[LY[OHU[OH[VMV[OLYZVJPHSHNLU[Z^P[OML^LY
YLZV\YJLZLZWLJPHSS`JP]PSZVJPL[`VYNHUPZH[PVUZ>LJVUZPKLY[^V[`WLZVMPUKPJH[VYZ[VKLZJYPILSVII-
`PUNTHUHNLTLU[PUHPYSPULZ!VU[OLVULOHUK[YHUZWHYLUJ`YLNHYKPUN[OLHJ[P]P[PLZJHYYPLKV\[HUK[OL
YLZV\YJLZHSSVJH[LK"VU[OLV[OLY[OLPU[LYUHSYLN\SH[PVUVMHJ[P]P[PLZPU[OLW\ISPJZWOLYL
16   List of main corporate sources available in Annex 2.
17   For example: to check variations in workforce composition or GHG emissions between 2017 and 2018.

23
18   The full list of indicators is available in Annex 1.
(KKP[PVUHSS` H X\HSP[H[P]L HUHS`ZPZ VM ]HYPV\Z L_HTWSLZ VM WVZZPISL NYLLU^HZOPUN WYHJ[PJLZ ^PSS IL
JHYYPLKV\[PUHZWLJPMPJJOHW[LY+LZWP[L[OLKPMMPJ\S[`PUKLSPTP[PUN[OPZWOLUVTLUVUP[PZJVUZPKLYLK
PU[LYLZ[PUNMVY[OLW\YWVZLZVM[OPZYLZLHYJOZPUJLP[JVUULJ[ZLU]PYVUTLU[HSTHUHNLTLU[JVYWVYH[L
JVTT\UPJH[PVUHUKSVII`PUNZ[YH[LNPLZ
3.2 Analysis procedure:
0UVYKLY[VMHJPSP[H[L[OL^VYRHUK[OLU\TLYPJHS[YLH[TLU[VM[OLYLZ\S[Z[OLHUHS`ZPZTVKLSPZHU,_JLS
[LTWSH[LI\PS[PUZWYLHKZOLL[Z18;O\ZMVYLHJOJVTWHU`PU[OLZHTWSLHZLWHYH[LºIVVR»PZ\ZLK^OPJO
OHZPUKP]PK\HSZOLL[ZMVYLHJOHYLH[OH[OHZILLUHUHS`ZLKJSPTH[LJOHUNLSHIV\YL[JHUKHZOLL[MVY
WYVÄSLUVUL]HS\H[P]LPUKPJH[VYZ
;OPZºZOLL[»JVSSLJ[Z[OLMVSSV^PUNPUMVYTH[PVUI`PUKPJH[VYHZHWWSPJHISL!KLZJYPW[PVUVMKVJ\TLU[LKL]P-
KLUJLWHNLZVM[OLJVTWHU`KVJ\TLU[PU^OPJOZHPKPUMVYTH[PVUPZMV\UKHZZLZZTLU[VM[OLPUKPJH[VY
^LPNO[PUKPTLUZPVUZJVYL0U[V[HS X\HSP[H[P]LPUKPJH[VYZKPZ[YPI\[LKHJYVZZHYLHZHUKJH[LNVYPLZ
OH]LILLUL]HS\H[LK-PM[`ZL]LUUVUL]HS\H[P]LPUKPJH[VYZOH]LILLU\ZLK[VI\PSK[OLJVTWHU`WYVÄSL
0UMVYTH[PVUMVYLHJOL]HS\H[P]LPUKPJH[VYPZJVSSLJ[LKMVYVUL`LHY HUKHZLYPLZVMJVU-
KP[PVUZPZHZZLZZLK>OLYLHJVUKP[PVUPZUV[M\SÄSSLKVY^OLYLKH[HPZUV[W\ISPJS`H]HPSHISL¸UV¹PZLU[LYLK
HUKaLYVWVPU[ZHYLH^HYKLK0M[OLJVUKP[PVUPZUV[HWWSPJHISL¸UV[HWWSPJHISL¹PZLU[LYLKHUK[OLPUKPJH[VY
PZUV[PUJS\KLKPU[OLJHSJ\SH[PVU0M[OLJVTWHU`TLL[ZHSS[OLJVUKP[PVUZVM[OLPUKPJH[VY¸`LZ¹PZLU[LYLK
HUKHZJVYLPZHZZPNULKIHZLKVU[OL^LPNO[PUNZJOLTL^P[OPU[OLJH[LNVY`>OLUHJH[LNVY`PZM\SS`HUHS`-
ZLKHÄUHSZJVYLVMIL[^LLU[VPZHSSVJH[LK
6UJL[OLZJVYLMVYHSS[OLJH[LNVYPLZOHZILLUVI[HPULK[OLWYVWVZLK^LPNO[PUNZJOLTLPZHWWSPLK[V
VI[HPUHZJVYLMYVT[VMVYLHJOHYLH,HJOHYLHOHZHZWLJPÄJ^LPNO[PUNVU[OLZJVYLVI[HPULKI`
[OLJVTWHU`MVYLHJOVM[OL`LHYZHUHS`ZLK;OLÄUHSNYHKLMVYLHJOJVTWHU`PZ[OLYLZ\S[VMHWWS`PUN[OL
HYP[OTL[PJH]LYHNLVM[OLZJVYLZVI[HPULKPULHJOVM[OL[OYLL`LHYZHUHS`ZLK
 
 
             
Table 1:  Weighting on the areas 
DQDO\VHGIRUREWDLQLQJWKHųQDOJUDGH
Area
Weight percentaje
Climate Change
50%
Employment
20%
Dividends and incentives
15%
Lobbying
15%
0UVYKLY[VVќLYHU\TLYPJHSHZZLZZTLU[[OH[PUJS\KLZ[OL]HYPV\Z[VWPJZHUHS`ZLKPUHIHSHUJLK^H`P[^HZJVUZP-
KLYLKHWWYVWYPH[L[VNYHU[VM[OLYH[PUN[VHZWLJ[ZYLSH[LK[V[OLTHUHNLTLU[VMJSPTH[LPTWHJ[Z^OPSL[OL
YLTHPUPUNPZKP]PKLKIL[^LLU[OLZVJPHSHZWLJ[Z^VYRMVYJLSVII`PUNHUKJVYWVYH[LNV]LYUHUJLKP]PKLUKZ
HUKPUJLU[P]LZHZZPNUPUNHZSPNO[S`OPNOLY^LPNO[[VSHIV\YHZWLJ[ZK\L[V[OLWYLZLUJLVMHNYLH[LYU\TILYVMPUKP-
JH[VYZHUK[OLMHJ[[OH[WVVY^VYRPUNJVUKP[PVUZHYLHZ[YVUNJVUJLYUMVYSHYNLWHY[ZVMJP]PSZVJPL[`PUJS\KPUN\UPVUZ

24
3.3 Indicators
+H[HPZJVSSLJ[LKMYVT[`WLZVMPUKPJH[VYZJVUJLYUPUN!
)HPSV\[Z!JVTWHU`HTV\U[JOHYHJ[LYPZ[PJZJVUKP[PVUHSP[`)HPSV\[;YHJRLY19JVU[L_[HUKHKKP[PVUHSKH[H
*VTWHU`WYVÄSLZ!UVUL]HS\H[P]LPUKPJH[VYZ[OH[OH]LPU[LYLZ[MVY[OLJOHYHJ[LYPaH[PVUVM[OLJVTWHUPLZ
PU[OLKPќLYLU[JH[LNVYPLZHKKYLZZLK
*VTWHU`ILOH]PV\Y!L]HS\H[P]LPUKPJH[VYZ[OH[Q\Z[PM`[OLÄUHSZJVYLMVYLHJOHYLH
H*SPTH[LJOHUNL!PUKPJH[VYZWLY`LHY
Category
Indicators related to
Weight percentage
GHG Emissions
Total emissions, passenger-km emissions, biofuel 
and synthetic hydrocarbons fuels use.
60%
Policy and Commitment
Environmental and climate change policies, 
GHG emissions targets, new commitments with 
bailouts.
23%
Management system
&HUWLųHGV\VWHPVUHSRUWRIVFRSHDQGFOL-
mate risks, remuneration linked to climate change 
targets.
17%
;OL./.,TPZZPVUZJH[LNVY`PZ]HS\LKH[ILJH\ZL[OPZPZ[OLILZ[TLHZ\YLVM[OLJVTWHU`»ZJSPTH[L
WLYMVYTHUJL;OL7VSPJ`HUK*VTTP[TLU[KPTLUZPVUZOV^Z[OLPU[LU[PVUZVM[OLJVTWHU`PU[OLM\[\YLP[
PZPTWVY[HU[I\[HZ[OL`TH`UV[ILM\SÄSSLKP[OHZILLU^LPNO[LKH[;OLL_PZ[LUJLVMH4HUHNLTLU[
:`Z[LTPZLZZLU[PHSMVYKL]LSVWPUNHUKTLHZ\YPUNJSPTH[LILOH]PV\YHUK[OLYLMVYLP[PZHJSHZZPJPUKPJH[VY
VMI\ZPULZZWLYMVYTHUJLI\[P[KVLZUV[WYV]PKLYLSL]HU[PUMVYTH[PVUVU[OLSL]LSVMJVTTP[TLU[VYWLYMVY-
THUJLZVP[PZ^LPNO[LKVUS`H[
I3HIV\Y!PUKPJH[VYZ WLY`LHY
Category
Indicators related to
Weight
Workforce structure
Layoffs, temporary staff, part-time jobs, 
outsourcing.
40%
Labour rights
Health and safety in the workplace, collective 
bargaining, salaries and working conditions 
30%
Equality and non-discrimination
Commitments and policies, pay gaps (gender, 
age, professional status, mean and highest 
salary), equal access to managerial positions 
(gender).
30%
3HIV\YPZJVUZPKLYLK[OLTVZ[PTWVY[HU[ZVJPHSNV]LYUHUJLHYLH[VILJVUZPKLYLKHJYP[PJHSHZWLJ[VM
JVYWVYH[LTHUHNLTLU[PU[OLJVU[L_[VMHJYPZPZ;OLJVTWSL_P[`VMSHIV\YYLSH[PVUZTHRLZP[ULJLZZHY`[V
YLJVYK[OLL]HS\H[PVUVM\W[VPUKPJH[VYZ"[OH[OH]LILLUNYV\WLKPU[V[OYLLJH[LNVYPLZ!
>VYRMVYJLZ[Y\J[\YL!PUKPJH[VYZHIV\[[OLU\TILYVMLTWSV`LLZ[OLPYKPZ[YPI\[PVUHUK[OLPYJVU[YHJ[TV-
KHSP[PLZ*YPZPZ[LUKZ[VSLHKJVTWHUPLZ[V¸Z[Y\J[\YHSHKQ\Z[TLU[¹WYVJLZZLZMVJ\ZLKSHYNLS`VUYLK\JPUN
SHIV\YJVZ[ZLP[OLY[OYV\NOHYLK\J[PVUPU[OL^VYRMVYJLWYLJHYPV\ZLTWSV`TLU[JVUKP[PVUZVY[OL\ZLVM
V\[ZV\YJPUN;OL^LPNO[PUNMVY[OPZJH[LNVY`PZZSPNO[S`OPNOLYZPUJLP[NYLH[S`PUÅ\LUJLZSHIV\YYPNO[Z
HUKLX\HSP[`HUKKP]LYZP[`IV[OYLWYLZLU[VM[OLZJVYLPU[OLSHIV\YHYLH
19   Transport & Environment Bailout Tracker
https://www.transportenvironment.org/challenges/planes/subsidies-in-aviation/bailout-tracker/

25
3HIV\YYPNO[Z!PUKPJH[VYZVUJVSSLJ[P]LIHYNHPUPUNSHIV\YKPZW\[LZHUK^VYRPUNJVUKP[PVUZ(ZTLU[PVULK
HIV]LJYPZPZZP[\H[PVUZPTWS`HYPZRVMSH`VќZHUKWYLJHYPV\ZULZZ;OPZ^VYZLUPUNVMOPYPUNJVUKP[PVUZPZ
HSZVTHUPMLZ[LKPUSHIV\YYPNO[ZPUWHY[PJ\SHYJVSSLJ[P]LIHYNHPUPUNHUKTH`L]LUOH]LHUPTWHJ[VUV[OLY
HZWLJ[ZYLSH[LK[V^VYRWSHJLZHML[`HUKZLJ\YP[`VY[OLYLJVUJPSPH[PVUVMWLYZVUHSHUKMHTPS`SPML0UZ\JOH
JVU[L_[Z[YPRLZHUKSHIV\YKPZW\[LZJHUJVTWYVTPZL[OLYLW\[H[PVUHUKÄUHUJPHSYLZ\S[ZVMHPYSPULZ
,X\HSP[`HUKUVUKPZJYPTPUH[PVU!PUKPJH[VYZVUKP]LYZP[`PU[OLJVTWVZP[PVUVM[OL^VYRMVYJLHUKZLUPVY
THUHNLTLU[^P[OZWLJPHSLTWOHZPZVUNLUKLYLX\HSP[`^P[OYLZWLJ[[VYLT\ULYH[PVUHUKHJJLZZ[VTH-
UHNLYPHSWVZP[PVUZ0UYLJLU[`LHYZ[OLZL[VWPJZOH]LPUJYLHZLK[OLPYWYLZLUJLPU[OLPU[LYUHSYLN\SH[PVUZVM
JVTWHUPLZPUJVOLYLUJL^P[O[OLL]VS\[PVUVM[OLSLNHSMYHTL^VYRHUKW\ISPJVWPUPVU/V^L]LYHZJHUIL
ZLLUPUTHU`JHZLZ[OLNLULYHSJVTTP[TLU[ZYLNHYKPUNPZZ\LZZ\JOHZNLUKLYLX\HSP[`HYLUV[HJJVTWH-
UPLKI`HKLX\H[LPUMVYTH[PVUVU[OLPYM\SÄSSTLU[VYZJVWL
J+P]PKLUKZHUKPUJLU[P]LZ!PUKPJH[VYZWLY`LHY
Category
Indicators related to
Weight percentage
Dividends
Dividends policy, dividends distributed
50%
Incentives
Top management remuneration, structure and 
components of bonus as variable remuneration
50%
;OLZJVYLZMVYIV[OJH[LNVYPLZPU[OPZHYLHOH]LILLUKPZ[YPI\[LKLX\HSS`/V^L]LYPUYLSH[P]L[LYTZ[OL
^LPNO[VM¸KP]PKLUKZ¹PZNYLH[LYHZP[PZTHKL\WVMHZTHSSLYU\TILYVMPUKPJH[VYZ;OPZPZK\L[V[OLMHJ[
[OH[[OLYLT\ULYH[PVUVMZLUPVYTHUHNLTLU[KLZWP[LILPUNPUTHU`JHZLZ[OLZ\IQLJ[VMW\ISPJJVU[YV-
]LYZ`YLWYLZLU[ZHYLSH[P]LS`SV^WLYJLU[HNLVM[OLJVTWHU`»ZÄUHUJPHSYLZ\S[ZPUJVU[YHZ[[V[OLKP]PKLUKZ
[OH[HYLUVYTHSS`KPZ[YPI\[LK
+P]PKLUKKPZ[YPI\[PVUPZHM\UKHTLU[HSHZWLJ[VMJVTWHUPLZTHUHNLTLU[LZWLJPHSS`[OVZLSPZ[LKVUZ[VJR
THYRL[Z)LPUNHYLT\ULYH[PVU[VZOHYLOVSKLYZKP]PKLUKZKPZ[YPI\[PVUJV\SKILJVUZPKLYLKH[[YHJ[P]LMVY
PU]LZ[VYZ/V^L]LYP[HSZVPTWSPLZHUVWWVY[\UP[`JVZ[ZPUJLP[SPTP[ZPU]LZ[TLU[ZPUV[OLYHYLHZHUKJHU
L]LUHќLJ[[OLÄUHUJPHSJHWHJP[`VM[OLJVTWHU`[VYLZWVUK[VJYPZLZVYTHYRL[Å\J[\H[PVUZZ\JOHZ[OVZL
L_WLYPLUJLKHZHYLZ\S[VM[OLWHUKLTPJ0U[OPZZLUZLJVTWHUPLZT\Z[IL[YHUZWHYLU[HIV\[[OLWVSPJPLZ
LZ[HISPZOLK[VKPZ[YPI\[LKP]PKLUKZHUKKLÄUL[OLPYHTV\U[^P[OV\[JVTWYVTPZPUN[OL]PHIPSP[`HUK,:.
WLYMVYTHUJLVM[OLJVTWHU`PU[OLTLKP\THUKSVUN[LYT
;OLYLT\ULYH[PVUVMZLUPVYTHUHNLTLU[PZHUV[OLYJVYWVYH[LNV]LYUHUJLHZWLJ[[OH[JHUILHќLJ[LKPU
JYPZPZZP[\H[PVUZLP[OLYH[[OLPUP[PH[P]LVM[OLTHUHNLTLU[P[ZLSMVYK\L[VWYLZZ\YLMYVTP[ZZ[HRLOVSKLYZ
ZOHYLOVSKLYZPUZ[P[\[PVUZL[J(ZWHY[VMZLUPVYTHUHNLYZYLT\ULYH[PVUZIVU\ZLZVYPUJLU[P]LZHYLLZ[H-
ISPZOLKIHZLKVU[OLWLYMVYTHUJLVM[OLL_LJ\[P]LTHUHNLY\Z\HSS`*,6HUK*-6HJJVYKPUN[VKPќLYLU[
ÄUHUJPHSHUKUVUÄUHUJPHSWHYHTL[LYZ:OVY[[LYTVYSVUN[LYTPUJLU[P]LZJHUOLSWN\PKLZLUPVYTHUHNL-
TLU[KLJPZPVUZ[V^HYKZNYLH[LYZVJPHSHUKLU]PYVUTLU[HSZ\Z[HPUHIPSP[`
K3VII`PUN!PUKPJH[VYZWLY`LHY
Category
Indicators related to
Weight percentage
Lobbying transparency
Presence in transparency registers, membership in 
sectoral organisations, information on topics and 
activities in which the lobbying function is exercised.
70%
Lobbying ethics
Regulation of the lobbying function, political 
contributions, social and environmental knowledge of 
top management
30%

26
0UYLSH[PVU[V[OLSVII`PUNHYLH[OL[YHUZWHYLUJ`JH[LNVY`OHZILLUJVUZPKLYLKHWYPVYP[`HZZPNUPUNP[
VM[OL^LPNO[;OPZPZILJH\ZL[YHUZWHYLUJ`WYV]PKLZV]LYZPNO[VMSVII`PUNYLZV\YJLZHUKHJ[P]P[PLZWHY-
[PJ\SHYS`[OVZLHPTLKH[PUÅ\LUJPUNJSPTH[LYLN\SH[PVUZ;OLYLTHPUPUNJVYYLZWVUKZ[V[OLSVII`PUN
L[OPJZJH[LNVY`THKL\WVMPUKPJH[VYZYLSH[LK[V[OLMVYTHSYLN\SH[PVUVMZ\JOHJ[P]P[PLZHUK[OL[YHPUPUNHUK
L_WLYPLUJLPU,:.PZZ\LZVM[OLTLTILYZVM[OL[VWTHUHNLTLU[
9LNHYKPUN[OLJH[LNVY`VMSVII`PUN[YHUZWHYLUJ`PUKPJH[VYZHYLYLSH[LK[VPUMVYTH[PVUVUVYNHUPZH[PVUZ
[OH[PUKPYLJ[S`YLWYLZLU[[OLPYPU[LYLZ[ZPU[OPZJHZLHZZVJPH[PVUZZ\JOHZ0(;(YLNPZ[YH[PVUPU[YHUZWHYLUJ`
YLNPZ[LYZVY[OLMVYTH[ZHUK[VWPJZ^OPJOHYL[OLMVJ\ZVM[OLSVII`PUNHJ[P]P[`
3.4 Evaluation criteria:
;OLL]HS\H[P]LJVTWHU`ILOH]PV\YPUKPJH[VYZ[HRLPU[VJVUZPKLYH[PVUKPќLYLU[[`WLZVMJVUKP[PVUZ^OVZL
M\SÄSSTLU[PZJVUZPKLYLKHNVVKWYHJ[PJLHUKVY[OLPYUVUM\SÄSSTLU[HIHKWYHJ[PJL;OLZLJVUKP[PVUZHYL
YLSH[LK[V!
• Transparency!X\HSP[`YLSPHIPSP[`HUKJVTWHYHIPSP[`VM[OLPUMVYTH[PVUWYV]PKLKI`[OLJVTWHU`
• Commitments!L_PZ[LUJLVMJVTTP[TLU[Z^P[OZWLJPÄJVIQLJ[P]LZHUKKLHKSPULZ
• Performance!W\ISPZOLKTHUHNLTLU[YLZ\S[Z[OH[HYLPUHJJVYKHUJL^P[OJVYWVYH[LZVJPHSYLZWVUZPIPSP[`Z[HUKHYKZ
• Performance evolution!PTWYV]LTLU[PUPUKPJH[VYZJVTWHYLK[VWYL]PV\Z`LHYZ

27
4. GENERAL PUBLIC 
SUPPORT SCHEMES FOR 
LARGE COMPANIES IN EU AND UK
4.1 European Union
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[YHUZWVY[ILPUNVULVM[OLTVZ[HќLJ[LKZLJ[VYZZPUJLP[ZPUJLW[PVU-HJPUN[OPZZP[\H[PVU[OLUH[PVUHSNV-
]LYUTLU[ZVM[OL,\YVWLHU<UPVUPTWSLTLU[LKHZLYPLZVMZ\WWVY[TLHZ\YLZMVYJVTWHUPLZ[OH[ZH^[OLPY
HJ[P]P[`PU[LYY\W[LKVYPTWHPYLK20(TVUN[OLZLTLHZ\YLZP[PZ^VY[OOPNOSPNO[PUN[OL^HNLZ\IZPKPLZHUK
Z\ZWLUZPVUVMZVJPHSJVU[YPI\[PVUWH`TLU[ZVYJVYWVYH[L[H_LZHWWSPJHISL[VHSSLJVUVTPJZLJ[VYZ)L`VUK
[OLZLTLHZ\YLZ[OLZP[\H[PVUVMTHU`SHYNLJVTWHUPLZJVU[PU\LK[VYLX\PYLIYVHKLYZ\WWVY[SLHKPUN[VH
ZLYPLZVMZ[H[LHPKWYVNYHTZH[[OLUH[PVUHSSL]LS[OH[^PSSYLX\PYLUV[PÄJH[PVU[V[OL,\YVWLHU*VTTPZZPVU
;OLPUP[PHSTLHZ\YLZMVSSV^PUN[OL*6=0+ V\[IYLHR^LYLJV]LYLKI`PUZ[Y\TLU[ZZ\JOHZ:<9,,\YV-
WLHUPUZ[Y\TLU[MVY[LTWVYHY`Z\WWVY[[VTP[PNH[L\ULTWSV`TLU[YPZRZPUHULTLYNLUJ`HUL^M\UKVM
\W[V,<9IPSSPVUSH\UJOLKPU(WYPSPUVYKLY[VZ\WWVY[4LTILY:[H[LZPTWSLTLU[PUNZOVY[[PTL
^VYRZJOLTLZ[VZHMLN\HYKQVIZ21
;OLZLZ[H[LHPKWYVNYHTZKLWLUKHIV]LHSSVU[OLZWLJPÄJJVU[L_[PU^OPJO[OL`HYPZLOV^L]LY[OL,<OHZ
HU\UKLUPHISLYVSLHZHYLN\SH[VYVMJVTWL[P[PVUPU[OLPU[LYUHSTHYRL[-VY[OPZYLHZVUHZL[VMN\PKLSPULZ
[OL:[H[LHPK;LTWVYHY`-YHTL^VYR^HZHKVW[LKI`[OL,\YVWLHU*VTTPZZPVUPU4HYJOPUVYKLY[V
LUHISL4LTILY:[H[LZ¸[V\ZL[OLM\SSÅL_PIPSP[`MVYLZLLU\UKLY:[H[LHPKY\SLZ[VZ\WWVY[[OLLJVUVT`PU
[OLJVU[L_[VM[OLJVYVUH]PY\ZV\[IYLHR¹220U[OPZSHZ[YL]PZPVU[OL*VTTPZZPVUOHZKLJPKLK[VWYVSVUNHUK
L_[LUK[OLZJVWLVM[OL;LTWVYHY`-YHTL^VYR\U[PS+LJLTILY23(SHYNLU\TILYVMZ[H[LHPKWYV-
NYHTZOH]LILLUHWWYV]LK\UKLY[OPZMYHTL^VYRIL[^LLU4HYJOHUK:LW[LTILYJVUZ[P[\[PUN
[OL;LTWVYHY`-YHTL^VYRHZHRL`[VVSPU[OLÄNO[HNHPUZ[[OLLJVUVTPJJYPZPZ24
(JJVYKPUN [V [OL ,\YVWLHU *VTTPZZPVU JVTT\UPJH[PVU HIV\[ [OPZ PZZ\L ¸[HYNL[LK HUK WYVWVY[PVUH[L
HWWSPJH[PVUVM,<:[H[LHPKJVU[YVSZLY]LZ[VTHRLZ\YL[OH[UH[PVUHSZ\WWVY[TLHZ\YLZHYLLќLJ[P]LPUOLS-
WPUN[OLHќLJ[LK\UKLY[HRPUNZK\YPUN[OL*6=0+ V\[IYLHRI\[HSZV[OH[[OL`HSSV^[OLT[VIV\UJLIHJR
MYVT[OLJ\YYLU[ZP[\H[PVURLLWPUNPUTPUK[OLPTWVY[HUJLVMTLL[PUN[OLNYLLUHUKKPNP[HS[^PU[YHUZP[PVUZ
PUHJJVYKHUJL^P[O,<VIQLJ[P]LZ253PRL^PZL,<:[H[LHPKJVU[YVSLUZ\YLZ[OH[[OL,<0U[LYUHS4HYRL[PZ
UV[MYHNTLU[LKHUK[OH[[OLSL]LSWSH`PUNÄLSKZ[H`ZPU[HJ[;OLPU[LNYP[`VM[OL0U[LYUHS4HYRL[^PSSHSZVSLHK
[VHMHZ[LYYLJV]LY`0[HSZVH]VPKZOHYTM\SZ\IZPK`YHJLZ^OLYL4LTILY:[H[LZ^P[OKLLWLYWVJRL[ZJHU
V\[ZWLUKULPNOIV\YZ[V[OLKL[YPTLU[VMJVOLZPVU^P[OPU[OL<UPVU¹
;OLHMVYLTLU[PVULKJVTT\UPJH[PVUSHZ[HTLUKLKPU1HU\HY`LZ[HISPZOLZ[OH[Z[H[LHPKT\Z[IL
JVTT\UPJH[LKHUKH\[OVYPZLKI`[OL,\YVWLHU*VTTPZZPVUPUJHZLZHZMVSSV^Z!¸HPKPU[OLMVYTVMKPYLJ[
NYHU[ZYLWH`HISLHK]HUJLZVY[H_HK]HU[HNLZ¹¸HPKPU[OLMVYTVMN\HYHU[LLZVUSVHUZ¹¸HPKPU[OLMVYT
20   COVID-19 EU Policy Watch: Database of national-level responses. European Foundation for the Improvement of Living and Working Conditions. 
https://static.eurofound.europa.eu/covid19db/index.html 
21   European Commission. SURE. 
https://ec.europa.eu/info/business-economy-euro/economic-and-ﬁscal-policy-coordination/ﬁnancial-assistance-eu/funding-mechanisms-and-facilities/sure_es 
22   European Commission. The State Aid Temporary Framework. 
https://ec.europa.eu/competition-policy/state-aid/coronavirus/temporary-framework_en 
23   European Union. COMMUNICATION FROM THE COMMISSION TEMPORARY FRAMEWORK FOR STATE AID MEASURES TO SUPPORT 
THE ECONOMY IN THE CURRENT COVID-19 OUTBREAK. 2021. 
https://ec.europa.eu/competition-policy/system/ﬁles/2021-03/TF_informal_consolidated_version_as_amended_28_january_2021_en.pdf 
24   European Commission. Coronavirus Outbreak - List of Member State Measures approved under Articles 107(2)b, 107(3)b and 107(3)c 
TFEU and under the State Aid Temporary Framework. 18 October 2021. 
https://ec.europa.eu/competition-policy/system/ﬁles/2021-10/State_aid_decisions_TF_and_107_2b_107_3b_107_3c_1.pdf 
25   Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak. 2021. 
https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52020XC0320(03)&from=EN

28
26   European Commission. Communication from the Commission to the European Parliament.,27 June 2020. 
https://eur-lex.europa.eu/legal-content/EN/TXT/?qid=1590732521013&uri=COM:2020:456:FIN 
27   European Commision. Recovery plan for Europe. 
https://ec.europa.eu/info/strategy/recovery-plan-europe_en#ﬁnancing-the-eu-long-term-budget-and-nextgenerationeu
28   European Commission. Overview of the State aid rules and public service obligations rules applicable to the air transport sector during the COVID-19 outbreak. March 2021. 
https://ec.europa.eu/competition-policy/system/ﬁles/2021-05/air_transport_update_March_2021.pdf
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PUZ[P[\[PVUZVYV[OLYÄUHUJPHSPUZ[P[\[PVUZ¹VY¸YLJHWP[HSPZH[PVUTLHZ\YLZ¹,HJOVM[OLZLMVYTZVMZ[H[LHPK
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LX\P]HSLU[[V,<9IPSSPVUVM[OL[V[HSHTV\U[VM[OLZLTLHZ\YLZ

29
Table 3: bailout measures for European Airlines
Company
Country, year
Amount 
(EUR 
billion)
Conditions
Type
Air France-KLM
France, 2020
7
No dividends
Climate conditions
Recapitalisation, hybrid 
instrument and loan 
guarantee
Air France-KLM
Netherlands, 2020
3.4
No conditions
Loan and loan guarantee
Air France-KLM
France, 2021
1
No dividends.
Limits to manager 
remuneration.
Recapitalisation, share 
acquisition,  
hybrid instrument
Air France-KLM
Netherlands, 2021
1.37
No conditions
Deferred tax payment
easyJet
UK, 2020
0.67
No conditions
Loan
easyJet
UK, 2021
1.57
Dividends restrictions 
QRWVSHFLųHG
Loan
IAG
UK, 2020
2.55
No conditions
Loan
IAG
Spain, 2020
0.26
No conditions
Loan
IAG
Spain, 2020
0.75
No conditions
Loan
IAG
Ireland, 2020
0.75
No conditions
Loan
Lufthansa
Germany, 2020
6.84
No dividens. Limits to 
manager remuneration
Environmental conditions 
QRWVSHFLųHG
Loan, recapitalisation, 
share acquisition
Lufthansa
Switzerland, 2020
1.42
No dividends
Loan
Lufthansa
Austria, 2020
0.45
No dividends
Limits to managers 
remuneration
Climate conditions
State aid and loan
Lufthansa
Belgium, 2020
0.29
No dividends
Limits to managers 
remuneration
Loan
Ryanair
UK, 2020
0.67
No conditions
Loan
SAS
Denmark & Sweden, 
2020
1
Dividend ban, limits to 
managers remuneration, 
environmental conditions
Recapitalisation, loan 
guarantee, share 
acquisition
SAS
Norway, 2020
0.14
No conditions
Loan
TAP
Portugal, 2020
1.2
No conditions
Loan and loan guarantee
TAP
Portugal, 2020
0.06
No conditions
Share acquisition
TAP
Portugal, 2021
0.46
No conditions
Recapitalisation, share 
acquisition

30
4.2 United Kingdom
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29  Bank of England. COVID Corporate Financing Facility (CCFF). 
https://www.bankofengland.co.uk/markets/COVID-corporate-ﬁnancing-facility  
30  Exchange rates as of December 31, 2020.
31  Kelso, P. Coronavirus: Airlines among businesses given Bank of England bailouts. SkyNews. 4 June 2020. 
https://news.sky.com/story/coronavirus-airlines-among-businesses-given-bank-of-england-bailouts-12000568  
Table 2: General data on european airlines bailouts
Total amount 
31.18 EUR billion
Number of bailout measures
209
Number of countries granting bailouts
13
WRWDODPRXQWZLWKFRUSRUDWHJRYHUQDQFHVSHFLųF
conditions
62.76%
% total amount with governance and climate change 
UHODWHGVSHFLųFFRQGLWLRQV
23.89%
(Based on public sources)

31
32   Transport and Environment. Austrian Bailout: Climate Conditions Explained. 2020. 
https://www.transportenvironment.org/wp-content/uploads/2021/07/2020_06_austrian-airlines-rescue_ﬁnal.pdf 
33   Also stated on Austrian Airlines press release about bailouts: 
Austrian Airlines Coronavirus Update: Austrian Airlines Receives Financial Aid from the Federal Government and Lufthansa
https://www.austrianairlines.ag/Press/PressReleases/Press/2020/06/038.aspx?sc_lang=en&mode=%7B30999B4B-42D0-45A6-B671-FE5E3CB68ED8%7D
34   1,9% according to Umweltbundesamt (Austrian Environmental Protection Agency):  Climate Protection Report 2020 (p.109):
https://www.umweltbundesamt.at/ﬁleadmin/site/publikationen/rep0738.pdf 
35   Transport and Environment. AirFrance Bailout: Climate Conditions Explained. 2020. 
https://www.transportenvironment.org/wp-content/uploads/2021/07/2020_06_air-france-rescue_ﬁnal_1.pdf 
36   Framework Agreement between the Federal Republic of Germany the Economic Stabilisation Fund and Deutsche Lufthansa Aktiengesellschaft 
concerning a Stabilisation measure of the Economic Stabilisation Fund. 
https://investor-relations.lufthansagroup.com/ﬁleadmin/downloads/en/annual-meeting/2020/eagm/WSF_DLF_Framework_Agreement_ENG.pdf 
4.3 Climate change related conditions
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32
     
Table 4: Bailouts amount distribution 
(EUR Billion)
Air France/ KLM
 12.77
easyJet
2.24
IAG
3.64 
Lufthansa 
9
Ryanair
0.67
SAS
1.14
TAP
1.72
(Based on public sources)
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37   Lufthansa. Framework Agreement between the Federal Republic of Germany the Economic Stabilisation Fund and Deutsche Lufthansa 
Aktiengesellschaft concerning a Stabilisation measure of the Economic Stabilisation Fund. June 2020
https://investor-relations.lufthansagroup.com/ﬁleadmin/downloads/en/annualmeeting/2020/eagm/WSF_DLF_Framework_Agreement_ENG.pdf   
38   France 24, Francia pasa a controlar el 30 % de Air France tras rescate económico. France 24. 7 April 2021. 
https://www.france24.com/es/europa/20210407-air-france-rescate-economico-francia 
39   European Commission press release: State aid: Commission approves €1 billion Danish and Swedish measure to recapitalise SAS.  17 August 2020
https://ec.europa.eu/commission/presscorner/detail/en/IP_20_1488

33
40   Euractiv: Portuguese government takes bigger stake in national airline. 3 July 2020
 https://www.euractiv.com/section/aviation/short_news/lisbon-state-takes-72-5-of-tap-airline/
41   European Commission press release: State aid: Commission approves €462 million Portuguese support to compensate TAP for damage 
suffered due to coronavirus outbreak. 23 April 2021
 https://ec.europa.eu/commission/presscorner/detail/en/ip_21_1928
42   Reuters. Aer Lingus among Irish sovereign wealth fund’s COVID-19 investments. 8 February 2021. 
https://www.reuters.com/article/health-coronavirus-ireland-economy-idUSL1N2KE12I 
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Table 5: Type of aid received
Loan
Loan guarantee
Recapitalisation, 
share acquisition
Air France-KLM
X
X
X
easyJet
X
IAG
X
Lufthansa
X
X
Ryanair
X
SAS
X
X
TAP
X
X
X
(Based on public sources)
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34
4.5 Airline bailouts controversies.
Do airlines deserve to be bailed out by states?
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43   Carbon Market Watch. Polluting European Airlines seen 12.8bn and counting in bailouts. 
https://carbonmarketwatch.org/2020/04/22/polluting-european-airlines-seek-e12-8-bn-and-counting-in-bailouts/ 
44   In respect to April 2020
45   OECD. State Support to the Air Transport Sector: Monitoring developments related to the COVID-19 crisis. 22 April 2021. 
https://www.oecd.org/corporate/State-Support-to-the-Air-Transport-Sector-Monitoring-Developments-Related-to-the-COVID-19-Crisis.pdf
46   Izquierdo, E. SDG Watch Europe steering group statement on COVID. SDG Watch Europe. 16 April 2020. 
https://www.sdgwatcheurope.org/sdg-watch-europe-steering-group-statement-on-COVID/    
47   Open Letter: Network to counter aviation – for a just transport system. Stay Grounded Network. 
https://stay-grounded.org/wp-content/uploads/2020/03/Open_Letter_EU_Transport_Ministers.pdf

35
48   Positive Money The COVID Corporate Financing Facility (CCFF)Where are the Conditions for the Billion £ Bailouts? July 2021
http://positivemoney.org/wp-content/uploads/2020/07/CCFF-Final-version.pdf   
49   El Pais.  El Tribunal General de la UE avala el rescate de la SEPI a Air Europa, pero no las ayudas a TAP y KLM. 
https://cincodias.elpais.com/cincodias/2021/05/19/companias/1621418080_665772.html 
50   Finland’s guarantee in favour of the airline Finnair to help it obtain a loan of €600 million from a pension fund to cover its working capital 
requirements following the COVID-19 pandemic is compatible with EU law. Press Release: General Court of European Union. 14 April 2021. 
https://curia.europa.eu/jcms/upload/docs/application/pdf/2021-04/cp210053en.pdf 
51   Judgment of the General Court of 19 May 2021 — Ryanair v Commission (KLM; COVID-19) (Case T-643/20). 
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A62020TA0643 
52   Ryanair. Ryanair Welcomes EU Court Rulings On Air France-KLM And TAP State Aid. 19 May 2021. 
https://corporate.ryanair.com/news/ryanair-welcomes-eu-court-rulings-on-air-france-klm-and-tap-state-aid-2/ 
53   European Commission. NextGenerationEU: la Commission approuve le plan pour la reprise et la résilience de la Tchéquie. 19 July 2021. 
https://ec.europa.eu/commission/presscorner/detail/nl/mex_21_3785 
54   Ryanair gaat in beroep tegen staatssteun voor KLM. NU.nl. 25 October 2021.  
https://www.nu.nl/economie/6146561/ryanair-gaat-in-beroep-tegen-staatssteun-voor-klm.html 
55   Saeed, S. Ryanair goes to war against coronavirus bailouts. Politico. 12 May 2020. 
https://www.politico.eu/article/ryanair-goes-to-war-against-coronavirus-bailouts/  
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[PVU[VHTVYLZ\Z[HPUHISLI\ZPULZZTVKLSPU[LNYH[LKPU[VHJOHUNLPUW\ISPJWVSPJPLZHUKYLN\SH[PVUZHPTLK
H[ZVJPHSS`HUKLU]PYVUTLU[HSS`YLZWVUZPISLTVIPSP[`
56   Semprun, A. & Lopez, E. Ryanair vuela en España con más de 236 millones de dinero público. El Economista. 11 September 2019.
 https://www.eleconomista.es/empresas-ﬁnanzas/noticias/10077557/09/19/Ryanair-vuela-en-Espana-con-mas-de-236-millones-de-dinero-publico.html  
57   Sistema Nacional de Publicidad de Subvenciones y Ayudas Públicas. Base de datos. 
https://www.infosubvenciones.es/bdnstrans/GE/es/concesiones

37
5. OVERALL RANKING RESULTS
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Table 6: Companies ranking according to the score achieved
Total
Average 
2018-2020
2018
2019
2020
TAP
15.88
13.74
15.58
18..1
Ryanair
33.15
3081
29.03
39.61
easyJet
36.58
30.95
33.36
45.42
Lufthansa
42.71
32.64
34.95
60.55
Air France-KLM
46.34
39.84
44.07
55.10
SAS
49.44
42.43
45.89
59.98
IAG
50.29
38.7
44.85
67.33
All companies
39.2
32.73
35.39
49.47
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38
Figure 2: Results per area

39
RESULTS BY AREA 
*SPTH[LJOHUNL

40
6. RESULTS BY AREA
6.1. Climate Change
6.1.1 Climate Change: conceptual framework
Paris agreement commitments
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JHYIVULTPZZPVUZYLK\J[PVU[HYNL[MYVT[OLWYL]PV\ZVULVMSLHZ[[Vat least 55% by 2030, com-
pared with 1990 levels59;OL,<7HYSPHTLU[OHKWYVWVZLKHOPNOLY[HYNL[VMHYLK\J[PVUHUK[OL
*SPTH[L(J[PVU5L[^VYR¶,\YVWLOHZZ[H[LK[OH[L]LU[OPZ[HYNL[PZPUZ\ѝJPLU[HZP[^V\SKILH[SLHZ[
[VILHSPNULK^P[O[OL7HYPZ(NYLLTLU[60;OL,<OHZHSZVJVTTP[[LK[VILJVTPUNJSPTH[LUL\[YHSI`
;VTLL[[OLZL[HYNL[Z[OL,<OHZKL]LSVWLKZL]LYHSJSPTH[LWVSPJPLZSH^ZHUKWSHUZ61 Some of the most impor-
tant tools are the emissions cap and allowances!¸;OLV]LYHSS]VS\TLVMNYLLUOV\ZLNHZLZ[OH[JHUILLTP[[LK
I`WV^LYWSHU[ZPUK\Z[Y`MHJ[VYPLZHUK[OLH]PH[PVUZLJ[VYJV]LYLKI`[OL,<,TPZZPVUZ;YHKPUN:`Z[LT,<,;:
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UP[VYYLWVY[HUK]LYPM`[OLPYLTPZZPVUZHUK[VZ\YYLUKLYHSSV^HUJLZHNHPUZ[[OVZLLTPZZPVUZ;OL`YLJLP]L
[YHKHISLHSSV^HUJLZJV]LYPUNHJLY[HPUSL]LSVMLTPZZPVUZMYVT[OLPYÅPNO[ZWLY`LHY63
58   United Nations. Paris Agreement 2015. 
https://unfccc.int/sites/default/ﬁles/english_paris_agreement.pdf 
59   2030 Climate Change Plan. European Commission. 
https://ec.europa.eu/clima/eu-action/european-green-deal/2030-climate-target-plan_en 
60   Climate Action: Bolstering EU climate ambition to reach the 1.5°C goal of the Paris Agreement. Climate Action Network. 
https://caneurope.org/work-areas/climate-action/ 
61   European Green Deal. European Commission.
https://ec.europa.eu/clima/eu-action/european-green-deal_en 
62   Emissions Cap and Allowances. European Commission. 
https://ec.europa.eu/clima/eu-action/eu-emissions-trading-system-eu-ets/emissions-cap-and-allowances_en 
63   Reduce Emission from Aviation. European Commission. 
https://ec.europa.eu/clima/eu-action/transport-emissions/reducing-emissions-aviation_en

41
GHG emissions from domestic aviation are calculated as part of the UNFCCC national GHG 
inventoriesHUKHYLPUJS\KLKPUUH[PVUHS[V[HSZWHY[VM[OL5H[PVUHSS`+L[LYTPULK*VU[YPI\[PVUZ5+*ZVM
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PUJS\KLKPU5+*Z
0Uapproximately 65 percent of global aviation fuel consumption was from international 
aviation.64 The contribution of global aviation in 2011 to GHG emissions was calculated to be 
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*6LTPZZPVUZPU[LYUH[PVUHSH]PH[PVUPZYLZWVUZPISLMVYHWWYV_PTH[LS`WLYJLU[VMNSVIHS*6LTPZZPVUZ
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CONYLLUOV\ZLNHZLZHUK^OLYL[OL`HYLLTP[[LKHUK[OL[V[HSLќLJ[P]LYHKPH[P]LMVYJPUNVMHSSWVSS\[HU[Z
MYVTH]PH[PVUPZIL[^LLUHUK[PTLZOPNOLY[OHU[OH[VM*6LTPZZPVUZKLWLUKPUNVU^OL[OLYÅPNO[Z
HYLZOVY[VYSVUNOH\S
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Aviation *69:0(67 
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HLYVWSHULVWLYH[VYZ
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WOHZL¶;OLWHY[PJPWH[PVUVM:[H[LZPU[OLWPSV[HUKÄYZ[WOHZLPZ]VS\U[HY`-VY[OLZLJVUK
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VM[V[HSHJ[P]P[`VY^OVZLJ\T\SH[P]LZOHYLYLHJOLZ VM[V[HSHJ[P]P[`HYLPUJS\KLK3LHZ[+L]LSVWLK
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[OL`]VS\U[LLY[VWHY[PJPWH[L
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plementing ICAO’s CORSIA would be the most damaging option for the environment as would 
lead to the biggest global increase in aviation CO2 emissions because of its questionable quali-
[`VMVɈZL[ZHUK[OLWYPJLHUKV]LYZ\WWS`VMVɈZL[[Z68!¸5VULVM[OLVќZL[[PUNWYVNYHTTLZHWWYV-
ved under Corsia meet all of the required criteria, and all having (sic) issues with double counting. A large 
ZOHYLVML_PZ[PUNWYVQLJ[ZHYLKLSP]LYPUNLTPZZPVUYLK\J[PVUZPUZLJ[VYZ[OH[HYLHSYLHK`JV]LYLKI`[OLPY
YLZWLJ[P]LJV\U[Y`»ZJ\YYLU[JSPTH[L[HYNL[ZHUKKV\ISLJV\U[LK*VYZPH^PSSOH]LHUV]LYZ\WWS`VMJOLHW
SLZZ[OHUÁJHYIVUVќZL[JYLKP[Z^VYZLULKI`0*(6»ZKLJPZPVU[VJOHUNLP[ZIHZLSPULK\L[V*6=0+ 
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for them to reduce emissions”. 
;OL,<OHZJVUÄYTLKP[ZWHY[PJPWH[PVUPU[OL*69:0(]VS\U[HY`WOHZLMYVT69/V^L]LY;YHUZWVY[
HUK,U]PYVUTLU[^HYUZ[OH[¸K\L[V[OL^LHRULZZVM[OL*69:0([HYNL[PZZ\LZPUOLYLU[[VVќZL[[PUNHUK
JVUJLYUZ^P[OOV^0*(6VWLYH[LZPTWSLTLU[PUN*69:0(PU,\YVWLYLWYLZLU[ZHKPYLJ[[OYLH[[V,\YVWL»Z
64   Fleming, G. & Lépinay, I. Environmental Trends in Aviation to 2050. Chapter 1: Aviation and Environmental Outlook. 
https://www.icao.int/environmental-protection/Documents/EnvironmentalReports/2019/ENVReport2019_pg17-23.pdf 
65   https://www.sciencedirect.com/science/article/pii/S1352231020305689?via%3Dihub
66   ICAO. Frequently Asked Questions. 
https://www.icao.int/environmental-protection/CORSIA/Pages/CORSIA-FAQs.aspx
67   ICAO. Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). June 2021. 
https://www.icao.int/environmental-protection/CORSIA/Pages/default.aspx 
68   Transport & Environment: Brieﬁng: Corsia: worst option for the climate. March 2021-
https://www.transportenvironment.org/wp-content/uploads/2021/07/2021_03_Brieﬁng_Corsia_EU_assessement_2021.pdf
69   Council of the EU. Aviation emissions: EU conﬁrms its participation in the CORSIA voluntary phase from 2021 and chooses a more ambi-
tious option to calculate its offsetting requirements. European Council & Council of the EU. 25 June 2020. 
https://www.consilium.europa.eu/en/press/press-releases/2020/06/25/aviation-emissions-eu-conﬁrms-its-participation-in-the-corsia-voluntary-pha-
se-from-2021-and-chooses-more-ambitious-option-to-calculate-its-offsetting-requirements/#

42
L_PZ[PUNJSPTH[LJVTTP[TLU[Z\UKLY[OL7HYPZ(NYLLTLU[6]LY[OLWLYPVKZ\JOHTV]L^V\SK
PUJYLHZL,\YVWL»ZH]PH[PVULTPZZPVUZI`TPSSPVU[VUULZ*6¹70
Characteristics of the aviation sector
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[YHUZWVY[LTPZZPVUZZLJVUKVUS`[VYVHK[YHUZWVY[
)`MHY[OLTHPUJH\ZLVM./.LTPZZPVUZPU[OLZLJ[VYPZHPYJYHM[M\LSRNVM*6WLYRNVMRLYVZLULZV
[OLTHPUTLHZ\YLZ[VYLK\JLLTPZZPVUZHYLYLK\JPUNÅPNO[ZHUKVYKLJYLHZPUNJHYIVUPU[LUZP[`WLYWHZZLU-
NLYRPSVTL[LY[YHUZWVY[LKHUK\ZPUNLM\LSZ0TWYV]LTLU[ZPUM\LSLѝJPLUJ`HYLNYHK\HSS`ILPUNKL]LSVWLK
OV^L]LYHU`LU]PYVUTLU[HSILULÄ[ZOH]LILLUV\[^LPNOLKI`HZ\Z[HPULKNYV^[OPUHPY[YHѝJ0U[OL
U\TILYVMWHZZLUNLYZPUJYLHZLKVUH]LYHNLI`JVTWHYLK[V
-VYLJHZ[ZHYL[OH[[OL*6LTPZZPVUZVMHSSÅPNO[ZKLWHY[PUNMYVT,<HUK,-;(^PSSNYV^I`I`
71^P[O[OL0U[LYUH[PVUHS*P]PS(]PH[PVU6YNHUPZH[PVU0*(6ILPUNTVYLWLZZPTPZ[PJWYLKPJ[PUNILMVYL[OL
WHUKLTPJ[OH[I`LTPZZPVUZMYVTPU[LYUH[PVUHSH]PH[PVUJV\SK[YPWSLJVTWHYLK[V
;OLH]PH[PVUZLJ[VYMHJLZTHQVYJOHSSLUNLZ[VYLK\JLLTPZZPVUZPU[OLJVTPUN`LHYZ!
ҋ6ɈZL[[PUNLTPZZPVUZPZ[OLTHPUZ[YH[LN`\ZLKI`JVTWHUPLZ[VYLK\JLUL[LTPZZPVUZI\[[OPZKVLZ
UV[TLHUHUHIZVS\[LYLK\J[PVUVMLTPZZPVUZHUKP[^PSSILJVTLTVYLKPѝJ\S[HZZV\YJLZVMJVTWLUZH[PVU
Y\UV\[HUK[OLJVZ[ZPUJYLHZL
ҋFleet modernisationOLSWZPUYLK\JPUNLTPZZPVUZWLY[YPWOV^L]LYPUHJVU[L_[VMÄUHUJPHSJVUZ[YHPU[Z
TVZ[JVTWHUPLZ^PSSÄUKP[KPѝJ\S[[VYLWSHJLHPYJYHM[HUKPMVSKHPYJYHM[HYL\ZLKVYZVSK[VV[OLYJVTWHUPLZ
[OL`^PSSJVU[PU\L[VWVSS\[L
ҋSustainable Aviation Fuels (SAF)HYLWYVK\JLKVUH]LY`ZTHSSZJHSL[OL`HYLT\JOTVYLL_WLUZP]L
[OHUWHYHѝUHUK[OLPYLU]PYVUTLU[HSPTWHJ[KLWLUKZVU[OLYH^TH[LYPHSZ\ZLKHUK[OL^H`[OL`HYL
WYVK\JLKHUKP[PZUV[HS^H`ZZTHSS
ҋLow-emission electric or hydrogen aircraftHYLZ[PSSPU[OLYLZLHYJOHUKKL]LSVWTLU[WOHZLHUK[OL`
^PSSUV[ILJVTTLYJPHSS`]PHISL\U[PSH[SLHZ[[OLZ
ҋOperational measuresZ\JOHZPUJYLHZPUNÅPNO[VJJ\WHUJ`\ZPUNTVYLKPYLJ[YV\[LZVYÅ`PUNTVYL
LѝJPLU[S`HYL\ZLM\SI\[OH]LSPTP[LKPTWHJ[
;VYLK\JL[OLU\TILYVMÅPNO[ZUL^JHYIVULTPZZPVU[HYNL[Z[H_LZHUKSPTP[ZVUZOVY[OH\S
travel are being promoted, which some aviation companies oppose.
70   Murphy, A. Why ICAO and Corsia cannot deliver on climate. Transport and Environment. 22 September 2019. 
https://www.transportenvironment.org/discover/why-icao-and-corsia-cannot-deliver-climate/  
71   EASA, Emissions Data
https://www.easa.europa.eu/eaer/topics/overview-aviation-sector/emissions

43
6.1.2 Company results
;OLZJVYLVI[HPULKPU[OLJSPTH[LJOHUNLHUHS`ZPZPZ[OLSV^LZ[V\[VMHSS[OLMV\YHYLHZHUHS`ZLK(SSVM[OL
JVTWHUPLZVI[HPULKHZJVYLILSV^WVPU[Z^P[OVUS`:(:HUK0(.ZJVYPUNTVYL[OHUWVPU[ZV\[VM
 
Table 7: Climate change area results
Total scores: Climate Change
Company
Policy and 
Commitment
Management System
GHG Emissions
Total
TAP
5
12
10.5
8.99
Ryanair
35.33
24
8.5
21.33
EasyJet
37.67
53.33
11
31.37
Air France-KLM
32
60
17
33.34
Lufthansa
38.33
76
10.5
39.41
IAG
53.33
65.33
13.83
41.12
SAS
49
60
34
48.57
Average
35.81
50.09
15.05
32.02
Figure 3: Average in each dimension, climate change area

44
>P[OPU[OL[OYLLJH[LNVYPLZHUHS`ZLKPU[OLJSPTH[LJOHUNLHYLH[OLJVTWHUPLZVI[HPULK[OLOPNOLZ[ZJVYLZ
MVY4HUHNLTLU[:`Z[LT^P[OHUH]LYHNLVM WVPU[ZMVSSV^LKI`7VSPJ`HUK*VTTP[TLU[^P[O
WVPU[Z;OLJH[LNVY`^P[O[OLSV^LZ[ZJVYLZ^HZ./.,TPZZPVUZ^P[OHUH]LYHNLVMVUS`WVPU[Z
 
 
 
 
 
        
Table 8: Evolution of COL total GHG emissions (millions of tones)
CO2e total 
GHG emissions 
(Millions of tonnes)
2018
2019
2020
Air France – KLM
33.37
34.20
17.09
easyJet
9.58
10.44
539
IAG
38.89
39.91
14.32
Lufthansa
44
44.1
15.1
Ryanair
11.84
12.54
4.96
SAS
4.31
4.21
1.80
TAP
N.I.
N.I.
N.I.
N.I.: No information.
(Based on companies annual report/sustainability reports, 2018-2020)
0U [OL`LHYILMVYL[OL*6=0+ JYPZPZHSSJVTWHUPLZHWHY[MYVT:(:PUJYLHZLK[OLPYLTPZZPVUZ0U
HSSJVTWHUPLZKLJYLHZLK[OLPY[V[HS./.LTPZZPVUZILJH\ZLVM[OL[YH]LSYLZ[YPJ[PVUZ
:VTLVM[OLJVTWHUPLZKPKUV[YLWVY[[OLTL[OVKVSVN`\ZLK[VHZZLZZ[OLPY[V[HSLTPZZPVUZ^OL[OLY[OL`
PUJS\KLZJVWLVYVќZL[ZZV[OLKH[HWYV]PKLKPU[OL[HISLTH`UV[ILJHSJ\SH[LK^P[OJVTTVUJYP[LYPH
^OPJOHќLJ[Z[OLJVTWHYHIPSP[`VM[OLJVTWHUPLZ»PUMVYTH[PVU
Lufthansa, IAG and AF-KLM are the most polluting companies in terms of total GHG emissions, 
^P[OYLWVY[LKLTPZZPVUZVMTVYL[OHUTPSSPVU[VUULZ*6LX\P]HSLU[LHJOPU[OL`LHYZILMVYL[OLWHUKL-
TPJ([[OLSV^LYLUKVM[OLZJHSLPZ:(:^P[OLTPZZPVUZILSV^TPSSPVU[VUULZ
Practice to improve!0UMVYTH[PVUVU./.LTPZZPVUZI`;(7PZUV[W\ISPJ;OPZKH[HPZULP[OLYPUP[Z
4HUHNLTLU[9LWVY[UVYPUP[Z:\Z[HPUHIPSP[`9LWVY[UVYVUP[Z^LIZP[L^OPJOYLWYLZLU[ZHZPNUPÄJHU[
SHJRVMHJJV\U[HIPSP[`

45
Table 9: Evolution of emissions) (G.COL/passenger-km)
g CO2/passenger-km
2018
2019
2020
Air France – KLM
80
79
102
easyJet
71.56
70.41
70.77
IAG
91.5
89.8
106.2
Lufthansa
92
92.2
105.2
Ryanair
66
66
98
SAS
95
95
111
TAP
100
93
112.1
(Based on companies annual report/sustainability reports, 2018-2020)
0U [OL*6LTPZZPVUZWLYWHZZLUNLYRTHYLbetween 66 and 95 gHS[OV\NO[OLYLJV\SKILZVTL
KPќLYLUJLZPU[OLJHSJ\SH[PVUTL[OVK\ZLK;OLLTPZZPVUZWLYWHZZLUNLYRTYVJRL[LKPUILJH\ZL
VM[OLSV^LYHPYJYHM[VJJ\WHUJ`YH[L/V^L]LY[OPZPUKPJH[VYKVLZUV[TLHZ\YL[OLYLHSPTWHJ[VUJSPTH[L
JOHUNLILJH\ZLP[KVLZUV[JVUZPKLY[OLUVU*6LTPZZPVUZHUK^OLYL[OL`HYLLTP[[LK
9`HUHPYPZWYV\K[VOH]LVULVM[OLSV^LZ[*6LTPZZPVUZWLYWHZZLUNLYRTPU[OLZLJ[VYNYHTZ72
/V^L]LYP[KVLZUV[WYV]PKLPUMVYTH[PVUVUOV^[OLZLHYLJHSJ\SH[LK^OL[OLY[OL`HYL¸HIZVS\[L¹VY
¸UL[¹LTPZZPVUZHUK^OL[OLY[OL`PUJS\KL¸ZJVWL¹LTPZZPVUZVYUV[
(UHS`ZPUN[OLL]VS\[PVUVM[OPZPUKPJH[VYV]LYHSVUNLYWLYPVKVM[PTLP[JHUILZLLU[OH[[OLreductions are 
slowing down, because it depends on variables with a limited margin of improvement in the me-
dium-term PMVULJVTWHU`OHZHPYJYHM[VJJ\WHUJ`VM P[VUS`OHZHTHYNPUVMPTWYV]LTLU[ILMVYL
YLHJOPUN[OLTH_PT\T-VY[OLM\[\YL9`HUHPYOHZJVTTP[[LK[VYLK\JLP[Z*6LTPZZPVUZWLYWHZZLUNLYRT
[VILSV^NYHTZ^OPJOPZSV^LY[OHU[OLJ\YYLU[YH[LVMTLHUPUNP[ZH]LYHNLYLK\J[PVU^PSSIL0.6 g/
pkm per year, far less than the average reduction of 2.0 g/pkm per year in the last two decades.
0UHU`JHZLLTPZZPVUZWLYWHZZLUNLYRTPZUV[HNVVKPUKPJH[VYMVY[V[HSLTPZZPVUZILJH\ZLJVTWHUPLZ
JHUYLK\JL[OPZPUKPJH[VYI\[Z[PSSPUJYLHZL[OLPY[V[HSLTPZZPVUZ
0UHKKP[PVU[OLLTPZZPVUZWLYWHZZLUNLYRTPZKLWLUKLU[VU[OLZOHYLIL[^LLUZOVY[HUKSVUNOH\S
ÅPNO[Z^P[O\S[YHZOVY[OH\SÅPNO[ZOH]PUN[OLOPNOLZ[LTPZZPVUZWLYWRT
72   Ryanair press release: Ryanair Continues To Promote Sustainability Voluntary Carbon Offset To Increase From €1 To €2 From April . 10 February 2020. 
https://corporate.ryanair.com/news/ryanair-continues-to-promote-sustainability-voluntary-carbon-offset-to-increase-from-e1-to-e2-from-april/

46
Good practice
SAS has a commitment to reduce its total emissions and its data shows that it is imple-
menting it, reducing its emissions in 2018 and 2019 compared to 2017.
Good practice
In 2020, easyJet hardly increased its emissions per passenger at all. The reduction of the 
RFFXSDQF\UDWHZDVPLWLJDWHGE\RSHUDWLRQDOHIųFLHQF\PHDVXUHV
Practice to improve
All the companies analysed except SAS increased their absolute carbon emissions in 
DQGZKLFKLVFRXQWHUWRWKHLUVXSSRVHGFRPPLWPHQWWRWKHųJKWDJDLQVW
climate change.
7YHJ[PJL[VPTWYV]L
Ryanair claims to be “Europe’s cleanest, greenest airline” because its CO emissions 
per passenger-km are lower than its competitors. However, its total emissions increa-
sed by 7.56% in 2018 and by 5.89% in 2019, so it is not making a real effort to limit its 
HPLVVLRQV,WDOVRDGYHUWLVHVWKDWŔ$YLDWLRQLVWKHPRVWHIųFLHQWIRUPRIPDVVSRLQWWR
point transport”, which is not true, and minimises the importance of emissions from the 
aviation sector, saying that they only account for 2% of EU man-made CO emissions.
6.1.2.1 Policy and commitment
INDICATOR
Number of companies
2018
2019
2020
Does the company have an absolute (not net) emission reduction 
target in the short- medium-term?
C
1
1
1
N.R
0
0
0
N.C
6
6
6
N.A
0
0
0
Does the company aim to be carbon neutral by 2050 or before?
C
0
1
2
N.R
0
0
0
N.C
7
6
5
N.A
0
0
0
Does the company have targets by 2030?
C
3
4
5
N.R
4
3
2
N.C
0
0
0
N.A
0
0
0
Does the company have short-term targets (less than 5 years)?
C
2
2
2
N.R
5
5
5
N.C
0
0
0
N.A
0
0
0
Does the company have annual targets?
C
0
0
0
N.R
7
7
7
N.C
0
0
0
N.A
0
0
0
Has the company increased its climate commitment in the bailout year?
C
0
0
2
N.R
0
0
0
N.C
0
0
5
N.A
7
7
0
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59!5V[YLWVY[LK![OLJVYWVYH[LKVJ\TLU[H[PVUMVY[OLYLMLYLUJL`LHYKVLZUV[PUJS\KL[OLPUMVYTH[PVUPU[OL[LYTZLZ[HISP-
ZOLKI`[OLPUKPJH[VY
5*!5VUJVTWSPHUJL![OLPUMVYTH[PVUWYV]PKLKI`[OLJVTWHU`KVLZUV[TLL[[OLJVUKP[PVUZLZ[HISPZOLKPU[OLPUKPJH[VY
5(!5V[HWWSPJHISL![OLPUKPJH[VYPZUV[HWWSPJHISLMVY[OLJVTWHU`PU[OLYLMLYLUJL`LHYHUKJVUZLX\LU[S`P[PZUV[JVUZPKLYLK
MVY[OLJVTWHU`»ZZJVYL

47
No company, except SAS, has absolute emissions reduction targets0U[OLJHZLVM:(:[OLYLPZ
UVJSLHYPUMVYTH[PVUVUOV^P[^PSSHJOPL]LP[Z[HYNL[HUK^OL[OLY[OPZPZYLSH[LK[V[OL\ZLVMIPVM\LSZVYPM
WHSTVPSIPVM\LSZ^PSSILL_JS\KLK
In 2018, no airline had committed to be carbon neutral by 2050HUKTVZ[^LYLHKOLYPUN[V0(;(»Z
JVTTP[TLU[[VOHS]L[OLPYLTPZZPVUZI`/V^L]LYPU 0(.THKL[OLJVTTP[TLU[[VILJHYIVU
UL\[YHSI`HUK3\M[OHUZHMVSSV^LKPU0U0(;(HWWYV]LKHYLZVS\[PVUMVY[OLNSVIHSHPY
[YHUZWVY[PUK\Z[Y`[VHJOPL]LUL[aLYVJHYIVULTPZZPVUZI`HUKmore companies are expected to 
take up this new goal in the coming years. 
The companies do not provide precise information on how they are going to achieve this new 
commitment^OPJO\UKLYTPULZ[OLPYJYLKPIPSP[`HSZV[HRPUNPU[VHJJV\U[[OLUVUJVTWSPHUJL^P[OWYL-
]PV\ZJVTTP[TLU[ZHUK[OL[YLUKVM[OLSHZ[ML^`LHYZPU^OPJO[OL`OH]LNYHK\HSS`PUJYLHZLKLTPZZPVUZ
-VY L_HTWSL 0(. WSHUZ YLK\J[PVUZ I`  MYVT UL^ HPYJYHM[ HUK VWLYH[PVUZ [OL \ZL VM :\Z[HPUHISL
(]PH[PVU-\LSZHUKTHYRL[IHZLKTLHZ\YLZHUKVќZL[I\[[OLYLK\J[PVUZHSSVJH[LK[VLHJOZ[YH[LN`OH]L
JOHUNLKMYVT [V
;OLU\TILYVMJVTWHUPLZ[OH[OH]LZL[YLK\J[PVU[HYNL[ZI`PZNYHK\HSS`PUJYLHZPUNPUPU
 HUKPU,HZ`1L[HUK;(7OH]LUV[`L[ZL[[OLZLYLK\J[PVU[HYNL[ZMVY6US`LHZ`1L[HUK
0(.OH]LJVUJYL[LZOVY[[LYTSLZZ[OHU`LHYZJVTTP[TLU[ZHUKUVJVTWHU`OHZHUU\HSJVTTP[TLU[Z
Only two companies, IAG and SAS, increased their climate commitment in the bailout year.
Good practice
In 2018 SAS set a target to reduce its total carbon emissions by 25% by 2030 com-
pared with 2005. During 2020, SAS decided to accelerate its efforts to reduce 25% of 
total CO2 emissions (compared to 2005 levels) by 2025 instead by 2030. The com-
SDQ\KDVLGHQWLųHGWKHSRVVLELOLW\RIDFKLHYLQJDSRWHQWLDOUHGXFWLRQRIXSWRLQ
total CO2 emissions by 2030 (compared to 2005), if the prerequisites are right and a 
supportive regulatory framework is put in place.
Practice to improve
TAP does not have an environmental policy that seriously addresses the reduction 
of greenhouse gas emissions, nor does it have clear reduction targets. On the other 
hand, a large part of the environmental measures it is implementing, such as eliminating 
single-use plastics, promoting the acquisition of sustainable materials and products, or 
reducing the production of solid urban waste, have a very low impact on the company’s 
total carbon emissions.

48
6.1.2.2 Management system
INDICATOR
Number of companies
2018
2019
2020
Does the company have an environmental management system, 
including a climate change variable?
C
6
6
6
N.R
1
1
1
N.C
0
0
0
N.A
0
0
0
Is the climate change policy supervised by a responsible person in 
senior management?
C
6
6
6
N.R
1
1
1
N.C
0
0
0
N.A
0
0
0
Does the company's remuneration for senior executives explicitly 
incorporate climate change performance?
C
1
1
3
N.R
6
6
4
N.C
0
0
0
N.A
0
0
0
Does the company identify the main climate risks within its business?
C
7
7
7
N.R
0
0
0
N.C
0
0
0
N.A
0
0
0
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59!5V[YLWVY[LK![OLJVYWVYH[LKVJ\TLU[H[PVUMVY[OLYLMLYLUJL`LHYKVLZUV[PUJS\KL[OLPUMVYTH[PVUPU[OL[LYTZLZ[HISPZOLKI`
[OLPUKPJH[VY
5*!5VUJVTWSPHUJL![OLPUMVYTH[PVUWYV]PKLKI`[OLJVTWHU`KVLZUV[TLL[[OLJVUKP[PVUZLZ[HISPZOLKPU[OLPUKPJH[VY
5(!5V[HWWSPJHISL![OLPUKPJH[VYPZUV[HWWSPJHISLMVY[OLJVTWHU`PU[OLYLMLYLUJL`LHYHUKJVUZLX\LU[S`P[PZUV[JVUZPKLYLKMVY
[OLJVTWHU`»ZZJVYL
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HUKTVZ[OH]LPTWSLTLU[LK[OL0:6JLY[PÄJH[PVU
*SPTH[LJOHUNLWVSPJ`PZ\Z\HSS`Z\WLY]PZLKI`HYLZWVUZPISLWLYZVUPUZLUPVYTHUHNLTLU[I\[VUS`3\M-
[OHUZHZPUJLHUKLHZ`1L[HUK0(.ZPUJLOH]LSPURLK[OLYLT\ULYH[PVUMVYZLUPVYL_LJ\[P]LZ
L_WSPJP[S`[VJHYIVULTPZZPVUZ/V^L]LY[OLZLJVTWHUPLZOH]LUV[JVTTP[[LK[VHUU\HS[HYNL[ZMVYHIZV-
S\[LYLK\J[PVUZPUJHYIVULTPZZPVUZ
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[OLPYJSPTH[LPUMVYTH[PVU^P[O[OL*HYIVU+PZJSVZ\YL7YVQLJ[*+7MYHTL^VYR^P[OZJVYLZIL[^LLU0(.»Z(
0TWSLTLU[PUN*\YYLU[)LZ[7YHJ[PJLZHUK(-»ZVY9`HUHPY);HRPUN*VVYKPUH[LK(J[PVUVU*SPTH[L0ZZ\LZ
 
Good practice
In 2020, IAG implemented new management incentives explicitly linked to climate 
targets. These incentives were agreed by IAG’s Management Committee, Remunera-
tion Committee and Board in 2019, resulting in 60 of the most senior executives across 
WKH*URXSLQFOXGLQJWKH,$*&KLHI([HFXWLYH2IųFHUKDYLQJDSURSRUWLRQRIWKHLUDQQXDO
incentives linked to the achievement of annual carbon intensity targets. Although the 
inclusion of these criteria can be seen as a positive element, companies should consider 
PHWULFVUHODWHGVSHFLųFDOO\WR*+*HPLVVLRQVDQGQRWMXVWFDUERQLQWHQVLW\
Practice to improve
$OWKRXJK'LUHFWLYH(8RQWKHGLVFORVXUHRIQRQųQDQFLDODQGGLYHUVLW\LQIRUPD-
tion requires large companies to report all risks of their activities, the companies analysed 
only identify the main climate risks within their business, but not outside their business, as 
if greenhouse gas emissions do not generate risks for the environment and people.
Practice to improve
Despite IAG declaring an ambitious commitment on climate change, it has many areas 
for improvement. From 2014 to 2019 it increased its emissions by 30.7%, (from 30.52 
to 39.91 million tonnes of CO2e).

49
6.1.2.2 GHG emissions
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
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^LYLUV[TL[HUKUVPUMVYTH[PVUPZWYV]PKLK[VL_WSHPU[OLYLHZVUZMVY[OPZ
Table 10: Evolution of total emissions (COL), 2018-2020
How has the company changed the total emissions 
(CO2e) in the last year?
2018
2019
2020
Air France – KLM
+1.47%
+2.51%
N.A
easyJet
+704%
+9%
N.A
IAG
+5.70%
+2.62%
N.A
Lufthansa
+7.24%
+1.53%
N.A
Ryanair
+7.56%
+5.89%
N.A
SAS
-1.44%
-2.39%
N.A
TAP
N.R
N.R
N.A
(Based on companies annual/sustainability reports, 2017-2020)
Note: N.R: Not Reported: the corporate documentation for the reference year does not include the information in the terms established by 
the indicator; N.A: Not applicable: the indicator is not applicable for the company in the reference year, and consequently, it is not consi-
dered for the company’s score.
(JJVYKPUN[V[OLHUU\HSYLWVY[ZVM[OLJVTWHUPLZHSSJVTWHUPLZL_JLW[:(:PUJYLHZLK[OLPY[V[HSLTPZZPVUZ
PU[OL[^V`LHYZILMVYL[OLIHPSV\[`LHY;OLHUU\HS]HYPH[PVUZYHUNLKMYVTH PUJYLHZLMVYLHZ`1L[PU
[VH KLJYLHZLMVY:(:PU ZOV^PUNZPNUPÄJHU[KPќLYLUJLZIL[^LLUJVTWHUPLZ;OL]HYPH[PVUZPU
LTPZZPVUZHYLTHPUS`YLSH[LK[V[OL]HYPH[PVUZPU[OLU\TILYVMWHZZLUNLYRT[YHUZWVY[LKHZJHUILZLLU
I`JVTWHYPUN[OLZL[^V]HYPHISLZThe two airlines with the highest growth in emissions during 2018-
2019 are easyJet and Ryanair,[OL[^VJVTWHUPLZZWLJPHSPZLKPUZOVY[OH\SSV^JVZ[HUK]HJH[PVU[YH]LSZ
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P[Z[V[HSLTPZZPVUZ

50
Table 11: Evolution of gCO/PKM emissions, 2018-2020
How has the company changed 
the gCO2/pkm in the last year?
2018
2019
2020
Air France – KLM
0%
-1.25%
N.A
easyJet
-1.24%
-1.61%
N.A
IAG
-0.87%
-1.86%
N.A
Lufthansa
-4.5%
+0.22%
N.A
Ryanair
-1.47%
0%
N.A
SAS
-1.04%
0%
N.A
TAP
-0.1%
-7.0%
N.A
(Based on companies annual/sustainability reports, 2017-2020)
Note: N.A: Not applicable: the indicator is not applicable for the company in the reference year, and consequently, it is not considered 
for the company’s score.
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HIV]LZOV^LHZ`1L[YLK\JLKP[ZLTPZZPVUZWLYWRTI`PU[OLZHTL`LHY[OH[P[PUJYLHZLKP[Z[V[HS
LTPZZPVUZI`  HUK:(:KPKUV[YLK\JLP[ZLTPZZPVUZWLYWRT^OLUP[YLK\JLKP[Z[V[HSLTPZZPVUZ
I`  ^OPJOZOV^Z[OH[[OLYLPZUVJVYYLSH[PVUIL[^LLU[OLZL[^VPUKPJH[VYZAdvertising emis-
sions per passenger-kilometer (pkm) as an indicator of good climate performance is misleading

51
INDICATOR
Number of companies
2018
2019
2020
Has the company used Sustainable Aviation Fuels (SAF)?
C
2
3
4
N.R
5
4
3
N.C
0
0
0
N.A
0
0
0
Does the company provide information on the % of SAF used?
C
1
2
2
N.R
5
5
5
N.C
0
0
0
N.A
0
0
0
Has the company supported any SAF programme?
C
5
5
5
N.R
2
2
2
N.C
0
0
0
N.A
0
0
0
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C
7
7
7
N.R
0
0
0
N.C
0
0
0
N.A
0
0
0
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C
0
0
1
N.R
0
0
0
N.C
7
7
6
N.A
0
0
0
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C
7
7
7
N.R
0
0
0
N.C
0
0
0
N.A
0
0
0
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59!5V[YLWVY[LK![OLJVYWVYH[LKVJ\TLU[H[PVUMVY[OLYLMLYLUJL`LHYKVLZUV[PUJS\KL[OLPUMVYTH[PVUPU[OL[LYTZLZ[HISPZOLKI`
[OLPUKPJH[VY
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5(!5V[HWWSPJHISL![OLPUKPJH[VYPZUV[HWWSPJHISLMVY[OLJVTWHU`PU[OLYLMLYLUJL`LHYHUKJVUZLX\LU[S`P[PZUV[JVUZPKLYLKMVY
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KVUV[YLWVY[[OL\ZLVM:(-Z
6US`:(:HUK(-234WYV]PKLPUMVYTH[PVUVU[OLWLYJLU[HNLVM:(-\ZLKZPUJL HUK[OLYLWVY[LK\ZL
PZ]LY`SV^-VYL_HTWSL(-234YLWVY[LK:(-JVUZ\TW[PVUVM R[VUZPU VM[OLJVU]LU[PVUHS
H]PH[PVUM\LS\ZLK[OH[`LHYHUKR[VUZPUVMJVU]LU[PVUHSH]PH[PVUM\LS\ZLK[OH[`LHY
0(.IVHZ[ZHZ[YVUNJVTTP[TLU[[V:(-HUKPZPU]LZ[PUN<:+TPSSPVUPU:(-WYVK\J[PVUV]LY[OL
UL_[[^VKLJHKLZZPUJL/V^L]LY<:+TPSSPVUV]LY`LHYZPZVUS`<:+TPSSPVUWLY`LHY
HZTHSSWYVWVY[PVUVM[OL[V[HSM\LSI\KNL[In 2018 and 2019 IAG did not provide information about 
investments, and in 2020 declared that 0.5 GBP million was invested in the Altalto waste-to-jet 
fuel plant*\YYLU[S`PU0(.OHZJVTTP[[LK[VWV^LYVM[OLPYÅPNO[Z^P[O:(-I`I\[[OL
JVTWHU`OHZUV[PUKPJH[LK[OLHTV\U[ZP[^PSS\ZLLHJO`LHYVY^OL[OLYP[^PSSYLWVY[[OPZKH[H

52
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TH[PVUHIV\[[OLPYPU]LZ[TLU[3\M[OHUZHZ\WWVY[Z[OLKL]LSVWTLU[VMZ`U[OL[PJRLYVZLULIHZLKVU^HZ[L
TH[LYPHSZSPNULV\ZIPVTHZZHUKYLUL^HISLLSLJ[YPJHSLULYN`WV^LY[VSPX\PK¶7[3
4VZ[JVTWHUPLZHYLTLTILYZVMHZZVJPH[PVUZZ\JOHZ[OL9V\UK[HISLVU:\Z[HPUHISL)PVTH[LYPHSZ9:)
[OL:\Z[HPUHISL(]PH[PVU-\LS<ZLYZ.YV\W:(-<.[OL(9;-\LSZ-VY\TVY[OL,\YVWLHU(K]HUJLK
)PVM\LSZ-SPNO[WH[O:VTLVM[OLZLHZZVJPH[PVUZSVII`VU[OLYLN\SH[PVUVM:(-
:VTLJVTWHUPLZMVYL_HTWSL0(.HYLHNHPUZ[:(-YLN\SH[PVUZHYN\PUN[OH[¸[OL,<WYVWVZHS[VPTWVZL
HZ\Z[HPUHISLM\LSX\V[HMVY[OLH]PH[PVUZLJ[VY^V\SKIVVZ[WYVK\J[PVUI\[^V\SKMVYJLHPYSPULZ[VI\`Z\Z-
[HPUHISLH]PH[PVUM\LSZH[HOPNOLYWYPJLJVTWHYLK[VJVU]LU[PVUHSM\LSZJYLH[PUNHJVTWL[P[P]LKPZ[VY[PVU¹
*VTWHUPLZOH]LLU]PYVUTLU[HSJYP[LYPHMVY:(-MVYL_HTWSL:(:»sustainability criteriaMVYIPVM\LSZHYL
[OH[[OLWYVK\J[PVUPZZ\Z[HPUHISLPU[OLSVUN[LYTKVLZUV[JVTWL[L^P[OMVVKWYVK\J[PVUVYHJJLZZ[V
WV[HISL^H[LYKVLZUV[OHYTIPVKP]LYZP[`HUK\ZLZHZSP[[SLSHUKHYLHHZWVZZPISL/V^L]LY[OLYLPZUV[H
JSLHYHUHS`ZPZVM[OLLU]PYVUTLU[HSPTWHJ[VM[OL:(:»WYVK\J[PVUVUHO\NLZJHSL
9LNHYKPUN[OLKL]LSVWTLU[VMHPYJYHM[IHZLKVUV[OLY[LJOUVSVNPLZLHZ`1L[OHZILLUZ\WWVY[PUNWright 
ElectricV]LY[OLSHZ[[OYLL`LHYZPUP[ZHPT[VWYVK\JLHUHSSLSLJ[YPJZLH[JVTTLYJPHSHPYJYHM[[OL>YPNO[
^OPJOJV\SKIL\ZLKMVYZOVY[OH\SÅPNO[Z>YPNO[PU[LUKZ[VJVUK\J[NYV\UK[LZ[ZVMP[ZTV[VYPU
HUKÅPNO[[LZ[ZPU;OLJVTWHU`HUUV\UJLKHMVYTHSWHY[ULYZOPW^P[O(PYI\Z[VKPZJ\ZZO`KYVNLUHUK
LSLJ[YPJHPYJYHM[JVUJLW[Z:(:WHY[PJPWH[LZPU;OL5VYKPJ5L[^VYRMVY,SLJ[YPJ(]PH[PVUTHUHNLKI`90:,
/V^L]LY(PYI\ZWSHUZ[VKL]LSVWHaLYVLTPZZPVUJVTTLYJPHSHPYJYHM[MVYLU[Y`PU[VZLY]PJLI`HUK
:(:KVLZUV[L_WLJ[[VOH]LZLH[Z^P[OHVUL[V[^VOV\YÅPNO[YHUNLILMVYLHUK
ZLH[HPYJYHM[^P[OH[`WPJHSZOVY[OH\SYHUNLILMVYL;OLYLMVYL[OLUL^HPYJYHM[Z^PSSUV[WYVK\JLLTPZ-
ZPVUYLK\J[PVUZPU[OLZOVY[[LYT
(SSHPYSPULZWSHU[VYLUL^[OLPYÅLL[[VTHRLP[TVYLLѝJPLU[HUKSLZZWVSS\[PUNHUKPU[OLJVTWHUPLZ
OH]LWOHZLKV\[[OLTVZ[WVSS\[PUNHPYJYHM[I\[VUS`0(.HUK:(:OH]LYLK\JLK[OLH]LYHNLHNLVM[OLPY
HPYJYHM[IL[^LLUHUK0UHWLYPVKVMÄUHUJPHSKPѝJ\S[PLZHUKHPYJYHM[Z\YWS\ZLZP[^PSSILKPѝJ\S[MVY
JVTWHUPLZ[VWYPVYP[PZL[OLW\YJOHZLVMUL^HPYJYHM[
7DEOH$YHUDJHDJHRIWKHŴHHW\HDUV
$YHUDJHDJHRIWKHŴHHW<HDUV
2018
2019
2020
Air France – KLM
11.3
11.6
12.1
easyJet
7
7.4
8
IAG
11.3
11.4
10.6
Lufthansa
11.9
12.1
12.5
Ryanair
6.7
7
8
SAS
9.9
10.2
8.6
TAP
N.R
N.R
N.R
(Based on companies annual/sustainability reports, 2018-2020)
Note: N.R: Not Reported: the corporate documentation for the reference year does not include the information in the terms esta-
blished by the indicator

53
;OLH]LYHNLHNLVM[OLÅLL[YHUNLKIL[^LLU`LHYZMVYLHZ`1L[HUK9`HUHPYHUK`LHYZMVY3\M[OHUZH
-SLL[YLUL^HSYLK\JLZHPYSPULZ»LTPZZPVUZI\[PMVSKHPYJYHM[HYLZVSKVYSLHZLK[VV[OLYHPYSPULZ[OLZLJ[VY»Z
NSVIHSLTPZZPVUZHYLUV[YLK\JLK
(SSJVTWHUPLZHYLZ\IQLJ[[V[OL,<,;:YLN\SH[PVUHUK[OL*HYIVU6ќZL[[PUNHUK9LK\J[PVU:JOLTLMVY
0U[LYUH[PVUHS(]PH[PVU*69:0(PUZ[Y\TLU[[OH[OHZILLUL_WSHPULKHIV]LPU[OLZLJ[PVUVU[OLJVUJLW[\HS
MYHTL^VYRVMJSPTH[LJOHUNL
(SSJVTWHUPLZVќLY[VVќZL[ÅPNO[Z[V[OLPYJSPLU[Z;OLWLYJLU[HNLVMLTPZZPVUZVќZL[PZSV^HUKPUMVY-
TH[PVUVUHSSVM[OLWYVQLJ[ZZ\WWVY[LKPZUV[HS^H`ZH]HPSHISL:VTLJVTWHUPLZYLWVY[[OLZ[HUKHYKVM
[OLWYVQLJ[ZZ\WWVY[LKMVYL_HTWSL3\M[OHUZHWYVQLJ[Z^P[O*+4.VSK:[HUKHYKHUK7SHU=P]VHUK;(7
WYVQLJ[ZJLY[PÄLKI`[OL<UP[LK5H[PVUZ
6US`LHZ`1L[OHZJVTTP[[LK[VVɈZL[P[ZVYNHUPZH[PVU»ZKPYLJ[JHYIVULTPZZPVUZZJVWLHUK
since 2020.
Practice to improve
Air France has planned a reorganization of the short-haul operation, and the Group has 
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are more oriented to promote its low-cost subsidiary company than to improve sustai-
nability, as the company is declaring.
Practice to improve
Companies claiming to support the development of Sustainable Aviation Fuels (SAFs) 
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ting to these activities, so it is not possible to measure their real commitment.
Practice to improve
The four companies using SAF (AF-KLM, IAG, Lufthansa and SAS) do not provide 
detailed information on the origin of the SAF used, e.g., whether they come from agri-
culture/forest products, waste, synthetic or if all of them are produced with renewable 
energy. Thus, it is not possible to know the environmental and social impacts of their 
use of SAF.
Practice to improve
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WH`Z¹WYPUJPWSL
Practice to improve
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H]LYHNLHNLVMP[ZÅLL[OHZYPZLUMYVT`LHYZ[V`LHYZ
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WLYMVYTHUJLPZUV[PUSPUL^P[O[OL7HYPZHNYLLTLU[JVTTP[TLU[Z[VRLLW[OLH]LYHNLNSVIHS[LTWLYH[\YL
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LTPZZPVUZK\YPUN[OLSHZ[[OYLL`LHYZ
4VZ[JVTWHUPLZ\ZL[OLJHYIVULTPZZPVUZWLYWHZZLUNLYRTHZHRL`JSPTH[LPUKPJH[VYI\[[OPZPUKPJH[VY
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VM[OLJVTWHUPLZHUHS`ZLKOH]LPUJYLHZLK[OLH]LYHNLHNLVM[OLPYÅLL[ZPUJL(SZV[OL`OH]L
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KV\I[VU[OLYLHSJVTTP[TLU[VMJVTWHUPLZPU[OLÄNO[HNHPUZ[JSPTH[LJOHUNL

54
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[OLTVUL`HUKW\ISPJZ\WWVY[[OL`OH]LYLJLP]LK
0UNLULYHS[LYTZHJJV\U[HIPSP[`PUYLSH[PVU[VJSPTH[LJOHUNLVU[OLWHY[VM[OLJVTWHUPLZHUHS`ZLKJV\SK
ILPTWYV]LK;OLYLPZHSHJRVM[YHUZWHYLUJ`VULTPZZPVUTLHZ\YLTLU[TL[OVKVSVNPLZPUZVTLJVTWH-
UPLZP[PZUV[RUV^U^OL[OLY[OLKH[HWYLZLU[LKPUYLSH[PVU[VLTPZZPVUZPUJS\KLZ:JVWLHUKHZH
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WHYHISLIL[^LLUJVTWHUPLZ6U[OLV[OLYOHUK[OLYLPZHSHJRVMHJJV\U[HIPSP[`PU[LYTZVM[OLVIQLJ[P]LZ
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VMZVTLVM[OLVIQLJ[P]LZLTPZZPVUZVY[OLTLHUZ[VHJOPL]L[OLTLNYLK\J[PVUVM[OLH]LYHNLSPMLVM[OL
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(]PH[PVU-\LSZI`HJLY[HPUKH[L
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X\V[HZ[OYV\NOYLN\SH[PVU

55
RESULTS BY AREA 
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56
6.2. Labour
6.2.1 Labour conditions in the airline sector
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73   Juul, M. Employment and working conditions in EU civil aviation. European Parliament. April 2016. 
https://www.europarl.europa.eu/RegData/etudes/BRIE/2016/580915/EPRS_BRI(2016)580915_EN.pdf   
74   Jorens, Y, Gillis, D., Valcke, L. & De Coninck, J. Atypical Forms of Employment in the Aviation Sector. European Social Dialogue, European Commission 
and Ghent University. 
2015. https://www.eurocockpit.be/sites/default/ﬁles/report_atypical_employment_in_aviation_15_0212_f.pdf 
75   Jorens, Y. Fair Aviation for All. European Transport Workers’ Federation. January 2019. 
https://www.etf-europe.org/wp-content/uploads/2019/02/Fair-Aviation_ETF-Brochure.pdf

57
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6.2.2 Labour rights in the context of the COVID crisis 
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WHPUM\SKLJPZPVUZI\[ULJLZZHY`[VN\HYHU[LL[OLPYPTTLKPH[LZ\Y]P]HS0U[OLJVU[L_[VML_JLW[PVUHSP[`HUK
PTTLKPHJ`\UKLY[OL[OYLH[VMIHURY\W[J`VWWVY[\UP[PLZMVY^VYRLYZ[VPUÅ\LUJL[OLZ[YH[LNPJKLJPZPVUZVM
JVTWHUPLZHUKNV]LYUTLU[Z^LYLSHYNLS`SPTP[LK,TWSV`LLZ^P[OWYLJHYPV\ZJVUKP[PVUZ^LYLTVYLL_WV-
ZLK[V[OLYPZRVMSVZPUN[OLPYQVI^P[OV\[JVTWLUZH[PVUVYOH]PUNSLZZHJJLZZ[VZVJPHSWYV[LJ[PVUTLHZ\YLZ
[OHULTWSV`LLZ^P[OZ[HISLJVU[YHJ[ZHUKNYLH[LYZLUPVYP[`81
   
(Z^PSSILHUHS`ZLKPU[OLMVSSV^PUNWHNLZ[OL\UJLY[HPU[`HIV\[[OLM\[\YLVM[OLZLJ[VYTLHUZ[OH[PU[OL
ZOVY[HUKTLKP\T[LYT[OLHPYSPULZHUHS`ZLKPU[OPZYLWVY[KVUV[JVUZPKLYYL[\YUPUN[VWYL]PV\ZSL]LSZVM
LTWSV`TLU[HUK[OLULLK[VYLK\JL[OL^VYRMVYJLPZL_WYLZZS`Z[H[LKIL`VUK[OLSHYNLU\TILYVMSH`VќZ
PU0[PZULJLZZHY`[VYHPZLHJVUJLYUHIV\[[OLYPZR[OH[ZVTLVM[OLÅL_PIPSPZH[PVUTLHZ\YLZHWWSPLK
HZHYLZ\S[VM[OLJYPZPZ^PSSILWLYTHULU[S`PUJVYWVYH[LKPU[V[OLSHIV\YYLSH[PVUZIL[^LLULTWSV`LLZHUK
JVTWHUPLZYLZ\S[PUNPUHULJVUVTPJYLJV]LY`IHZLKVUWYLJHYPV\ZJVUKP[PVUZMVY^VYRLYZHUKHUPUJYLHZL
PUPULX\HSP[PLZ(YLWVY[MYVT[OL,\YVWLHU;YHKL<UPVU0UZ[P[\[L,;<0VU[OLPTWHJ[VM[OLWHUKLTPJVU
76   EU orders Ryanair to meet European rules on local contracts. Reuters. 27 September 2018. 
https://www.euractiv.com/section/economy-jobs/news/eu-orders-ryanair-to-meet-european-rules-on-local-contracts/ 
77   Psaledakis, D. & Blenkinsop, P. EU orders Ryanair to meet European rules on local contracts. Reuters. 26 September 2018. 
https://www.reuters.com/article/us-ryanair-hldgs-unions-eu-idUSKCN1M61ZL 
78   Saeed, S. Ryanair protests put Irish labor law in the spotlight. Politico. 6 August 2018. 
https://www.politico.eu/article/ryanair-strike-august-ﬂight-cancel-protests-put-irish-labor-law-in-the-spotlight/
79   ILO. Country policy responses. 
https://www.ilo.org/global/topics/coronavirus/regional-country/country-responses/lang--en/index.htm
80   European Commission. State Aid Cases. 
https://ec.europa.eu/info/live-work-travel-eu/coronavirus-response/jobs-and-economy-during-coronavirus-pandemic/state-aid-cases_en 
81   Berg, J. Precarious workers pushed to the edge by COVID-19. ILO. 20 March 2020. 
 https://iloblog.org/2020/03/20/precarious-workers-pushed-to-the-edge-by-COVID-19/

58
82    ETUI and ETUC. Benchmarking Working Europe, Brussels, ETUI. 2020. 
https://www.etui.org/sites/default/ﬁles/2020-12/09%20ETU%20BM2020%20FULL.pdf
SHIV\YYLSH[PVUZHYN\LZ[OH[[OLJYPZPZOHZL_HJLYIH[LK[OLK`UHTPJZVMPULX\HSP[`JH\ZLKI`KLJHKLZVM
KLYLN\SH[PVULZWLJPHSS`PTWHJ[PUN[OLTVZ[]\SULYHISLNYV\WZHUK[OVZL^P[OTVYLWYLJHYPV\Z^VYRPUN
JVUKP[PVUZ82,;<0LTWOHZPZLZ[OLULLK[VYL]LYZL[OPZZP[\H[PVUHUKMHJLLTLYNPUNJOHSSLUNLZ[OYV\NOHU
LJVUVTPJYLJV]LY`IHZLKVUZVJPHSHUK[LYYP[VYPHSZVSPKHYP[`
;VZ\T\WP[ZOV\SKILUV[LK[OH[[OLWHUKLTPJOHZOHKHUPUL]P[HISLPTWHJ[VULTWSV`TLU[SL]LSZPU
HPYSPULZHS[OV\NOP[PZZ[PSS[VVLHYS`[VVќLYHKPHNUVZPZHIV\[P[ZLќLJ[ZVU[OLSHIV\YYPNO[ZVM[OL^VYRMVY-
JL;OLWYLJHYPV\ZULZZPU[OL`LHYZWYPVY[V[OLJYPZPZHKKLK[V[OLKL]HZ[H[PUNLќLJ[ZVM[OLJYPZPZP[ZLSM
JYLH[LZHULU]PYVUTLU[VM\UJLY[HPU[`HYV\UK[OLOPYPUNHUK^VYRPUNJVUKP[PVUZPU[OLZLJ[VY0UHJVU[L_[
SPRL[OPZP[PZLZZLU[PHS[OH[[OLPU[LY]LU[PVUVMW\ISPJPUZ[P[\[PVUZHUKSLNPZSH[VYZPZJHWHISLVMN\HYHU[LLPUN
LќLJ[P]LSHIV\YWYV[LJ[PVUMVY^VYRLYZYLNHYKSLZZVM[OLPYJH[LNVY`VY[`WLVMJVU[YHJ[
6.2.3 Company results
Table 13: Labour area results
Total Labour
Company
Workforce Structure
Labour Rights
Equality & 
Non Discrimination
Total
TAP
18.61
23.61
12.5
18.06
Lufthansa
31.67
22.22
11.67
19.21
Ryanair
26.46
22.22
26.67
26.4
EasyJet
13.23
19.84
46.67
31.16
SAS
19.44
72.22
41.67
42.06
Air France-KLM
56.55
45.83
70
60.79
IAG
49.4
47.62
70
60.97
Average
30.77
36.22
39.88
36.95
The average score achieved by the 7 companies analysed in the labour area was 36.95 out of 
100. ;OLJVTWHUPLZ^P[O[OLOPNOLZ[ZJVYLZ^LYL0(.^P[OH HUK(PY-YHUJL234^P[OHZJVYLVM
 ^OPSL;(7HUK3\M[OHUZHZJVYLK[OLSV^LZ[^P[OZJVYLZVMHUK YLZWLJ[P]LS`

59
;OLLX\HSP[`HUKUVUKPZJYPTPUH[PVUJH[LNVY`OHZOPNOLZ[ZJVYLZ^P[OHUH]LYHNLVM MVSSV^LKI`SH-
IV\YYPNO[Z^P[O^OPSL^VYRMVYJLZ[Y\J[\YL^P[OWVPU[ZZJVYLZ[OLSLHZ[;OL^VYRMVYJLZ[Y\J[\-
YLHUKSHIV\YYPNO[ZZJVYLZYLTHPULKYLSH[P]LS`Z[HISLIL[^LLUHUK^OPSLLX\HSP[`UVUKPZJYP-
TPUH[PVUZOV^ZWYVNYLZZP]LPTWYV]LTLU[ZPU[OL[YHUZWHYLUJ`HUKWLYMVYTHUJLVMJVTWHUPLZWHY[PJ\SHYS`
PU[OLPUKPJH[VYZYLSH[LK[VNLUKLYLX\HSP[`
6.2.3.1 Workforce structure
0UNLULYHS[LYTZJVTWHUPLZPUJYLHZLK[OLPY^VYRMVYJLIL[^LLUHUK ^P[OHKYHZ[PJKLJYLHZL
PU>VYRMVYJLYLK\J[PVUZHZHYLZ\S[VM[OL*6=0+ JYPZPZHYLUV[HJJVTWHUPLKI`L_WSPJP[JVTTP[-
TLU[Z[VTHPU[HPULTWSV`TLU[PUHU`JHZL
0UMVYTH[PVUVU[OLWLYJLU[HNLVM^VYRLYZ^P[O[LTWVYHY`VYWHY[[PTLJVU[YHJ[ZPZUV[YLWVY[LKI`ZL]LYHS
JVTWHUPLZ"PU[OVZL[OH[KV[OLYLPZUVTHYRLK[YLUKPU[OLWLYPVKHUHS`ZLK0UMVYTH[PVUVU[OLU\TILY
HUKJVUKP[PVUZVMV\[ZV\YJLK^VYRLYZPZL]LUZJHYJLY^P[OVUS`NLULYHSYLMLYLUJL[VJLY[HPUV\[ZV\YJLK
HJ[P]P[PLZHUKJVTTP[TLU[Z[VSHIV\YYPNO[ZPU[OLZ\WWS`JOHPU(ZZLLUILMVYLHUPUJYLHZLPU[OLZL[`WLZ
VMJVU[YHJ[ZTH`IL\UKLYJLY[HPUJVUKP[PVUZHULќLJ[VM[OLWYLJHYPV\ZULZZVM[OL^VYRMVYJL
-PUHSS`PUMVYTH[PVUHJJVYKPUN[VWYVMLZZPVUHSJH[LNVY`PZWYV]PKLKI`TVZ[VM[OLJVTWHUPLZHS[OV\-
NO[OL`KVZV\UKLYNLULYHSJH[LNVYPLZZ\JOHZMSPNO[JYL^JHIPUJYL^NYV\UKZ[HMMVYHKTPUPZ[YH[P]L
Z[HMMHUK^P[OHSV^SL]LSVMKPZHNNYLNH[PVUPU[LYTZVMNLUKLYHNLVYSL]LSZVMYLT\ULYH[PVUHZ^PSS
ILZLLUPU[OLUL_[ZLJ[PVU
Figure 4: Result per category, labour area

60
Figure 4: Result per category, labour area
INDICATOR
Results
Number of companies
2018
2019
2020
Did not reduce its workforce
C
6
6
0
N.R
0
0
0
N.C
1
1
0
N.A
0
0
7
Provides an explanation of workforce reduction
C
0
0
7
N.R
1
1
0
N.C
0
0
0
N.A
6
6
0
3URYLGHVVSHFLųFGDWDRQOD\RIIV
C
0
0
4
N.R
1
1
3
N.C
0
0
0
N.A
6
6
0
Commits to maintain employment
C
0
0
0
N.R
1
1
1
N.C
0
0
6
N.A
6
6
0
;LTWVYHY`^VYRLYZKVUV[L_JLLKVM[OL^VYRMVYJL
C
2
2
2
N.R
5
5
5
N.C
0
0
0
N.A
0
0
0
+PKUV[PUJYLHZLVM[LTWVYHY`LTWSV`LLZ
C
0
1
2
N.R
6
5
5
N.C
1
1
0
N.A
0
0
0
7YV]PKLZHUL_WSHUH[PVUVMWHY[[PTL^VYRPUJYLHZL
C
0
0
1
N.R
6
6
6
N.C
0
0
0
N.A
1
1
0
9LWVY[ZVUZ[HќJVTWVZP[PVUI`WYVMLZZPVUHSJH[LNVY`
C
5
5
4
N.R
0
0
0
N.C
2
2
3
N.A
0
0
0
9LWVY[ZVUU\TILYVMV\[ZV\YJLKZ[Hќ
C
0
0
0
N.R
7
7
7
N.C
0
0
0
N.A
0
0
0
9LWVY[ZVU^VYRPUNJVUKP[PVUZVMV\[ZV\YJLKZ[Hќ
C
0
0
0
N.R
6
6
6
N.C
1
1
1
N.A
0
0
0
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59!5V[YLWVY[LK![OLJVYWVYH[LKVJ\TLU[H[PVUMVY[OLYLMLYLUJL`LHYKVLZUV[PUJS\KL[OLPUMVYTH[PVUPU[OL[LYTZLZ[HISPZOLKI`[OLPUKPJH[VY
5*!5VUJVTWSPHUJL![OLPUMVYTH[PVUWYV]PKLKI`[OLJVTWHU`KVLZUV[TLL[[OLJVUKP[PVUZLZ[HISPZOLKPU[OLPUKPJH[VY
5(!5V[HWWSPJHISL![OLPUKPJH[VYPZUV[HWWSPJHISLMVY[OLJVTWHU`PU[OLYLMLYLUJL`LHYHUKJVUZLX\LU[S`P[PZUV[JVUZPKLYLK
MVY[OLJVTWHU`»ZZJVYL

61
Workforce reductions
)LMVYLVUS`[^VHPYSPULZYLK\JLK[OLPY^VYRMVYJLZ;(7I`IL[^LLUHUK HUK
:(:I`IL[^LLUHUK^P[OV\[WYV]PKPUNQ\Z[PÄJH[PVU(ZTLU[PVULKPU[OLJOHW[LY
VUKP]PKLUKZHUKPUJLU[P]LZHUK ^LYLWVZP[P]L`LHYZMVY[OLPUK\Z[Y`^P[OHPYSPULZNLULYHSS`
WLYMVYTPUN^LSSÄUHUJPHSS`
;OLKPќLYLU[^H`ZVMYLWVY[PUN^VYRMVYJLÄN\YLZLNH[[OLLUKVM[OLÄZJHS`LHYI`TVU[OS`H]LYHNLOLHK-
JV\U[VYM\SS[PTLLX\P]HSLU[ZWYL]LU[ZJVTWHYHIPSP[`PUHIZVS\[L[LYTZZVWLYJLU[\HSPUJYLHZLVYKLJYLHZL
OHZILLUJOVZLU[VWYLZLU[[OLWLYJLU[HNL]HYPH[PVUHJJVYKPUN[V^OH[^HZKLJSHYLKI`LHJOJVTWHU`
IL[^LLU[V HUK [V
 
 
Table 14: Percentage of increase or decrease in the workforce
Company
 2017-2019
2019-2020
Air France – KLM
+3.1%
-8.71%
easyJet
+21%
-1.25%
IAG
+4.12%
-8.21%
Lufthansa
+6.93%
-9.13%
Ryanair
+18.41%
-13.04%
SAS
+11.09%
-34.01%
TAP
-17.86%
-24.77%
(Based on companies annual report/sustainability reports, 2017-2020)
 
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^P[OPUJYLHZLZVMI`LHZ`1L[HUKI`9`HUHPYLZWLJPHSS`Z[YPRPUN;OLIPNNLZ[J\[IHJRZIL-
[^LLU HUKVJJ\YYLKPU:(:^OPJOYLK\JLKP[Z^VYRMVYJLI`MVSSV^LKI`;(7I`
HUK9`HUHPYI`0UHIZVS\[L[LYTZ[OLSHYNLZ[YLK\J[PVUZIL[^LLU HUKVJJ\-
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KLZWP[L[OLJYPZPZ
;OLZL^VYRMVYJLYLK\J[PVUZYLZ\S[LKPUHYLK\J[PVUPUZHSHY`JVZ[ZHS[OV\NO[OPZPTWHJ[^HZTP[PNH[LKI`
[OL]HYPV\Z[LTWVYHY`Z\WWVY[TLJOHUPZTZHWWYV]LKI`[OLKPќLYLU[UH[PVUHSNV]LYUTLU[Z

62
Table 15: Total salaries (EUR billion)
Company
2018
2019
2020
Air France – KLM
5.33
5.59
4.66
easyJet
0.75
0.84
0.76
IAG
3.24
3.33
2.24
Lufthansa
7.29
7.45
5.09
Ryanair1
984
1.107
472 
SAS
675
695
623
TAP2
703
679
478
(Based on companies annual/sustainability reports, 2017-2020)
;OLYLPZUV[T\JOPUMVYTH[PVUVU[OL^H`[OH[[OLHPYSPULZKLHS[^P[OYLK\UKHUJPLZPU[OLJVU[L_[VM[OL
*6=0+ JYPZPZ0UNLULYHSJVTWHUPLZKVUV[WYV]PKLL_HJ[KH[HVU[OLU\TILYVMKPZTPZZHSZ[OLPYKPZ[YP-
I\[PVUHUK[OLPYJVUKP[PVUZ;OLPUMVYTH[PVUVU[OLKPHSVN\LWYVJLZZLZ^P[O[OL^VYRLYZ»YLWYLZLU[H[P]LZPZ
YLK\JLK[VNLULYHSKLJSHYH[PVUZVMNVVKPU[LU[PVUZ^P[OV\[HKKYLZZPUNWYVISLTH[PJHZWLJ[Z
(\UHUPTV\ZL_WSHUH[PVUMVY[OLZL^VYRMVYJLYLK\J[PVUZPZ[OLJYPZPZJH\ZLKI`[OLWHUKLTPJ(SSJVTWH-
UPLZOPNOSPNO[PU[OLPYYLWVY[Z[OH[KLZWP[L[OLPTWHJ[JH\ZLKI`ZHPKJYPZPZVU[OLÄUHUJPHSZ[H[LTLU[ZVM[OL
JVTWHU`[OL`OH]LOHK¸KPHSVN\LZ¹^P[O^VYRLYZHUKPUZ[P[\[PVUZ[V[Y`¸[VTPUPTPZL[OLQVIZSVZZLZ¹[OYV\-
NOTLJOHUPZTZVM[LTWVYHY`JLZZH[PVULHYS`YL[PYLTLU[VYYLZJPZZPVUZI`T\[\HSHNYLLTLU[/V^L]LY
[OLYLPZUVL_WSPJP[JVTTP[TLU[[VTHPU[HPUPUNVYYLJV]LYPUNLTWSV`TLU[UVY[VMHJPSP[H[LQVIYLPU[LNYH[PVU
MVYSHPKVќLTWSV`LLZ
;OL^VYRMVYJLYLK\J[PVUZHYLJVUZPKLYLKPYYL]LYZPISLPU[OLZOVY[[LYTK\L[V[OL\UJLY[HPUJSPTH[LMVY[OL
ZLJ[VYI\[[OLYLPZUVL_WLJ[H[PVU[OH[LTWSV`TLU[SL]LSZWYPVY[V[OLJYPZPZ^PSSILYLJV]LYLKPU[OLTLKP\T
VYSVUN[LYT![OLYLK\J[PVUVM[OL^VYRMVYJLZLLTZ[VOH]LJVTL[VZ[H`HUKP[PZWYVWVZLKHZWHY[VM
Z[Y\J[\YHSHKQ\Z[TLU[WYVJLZZLZUV[HZHTLYL[LTWVYHY`YLZWVUZL
1   Total labour costs, salaries not reported.
2   Total labour costs, salaries not reported.

63
Practice to improve
The workforce reduction reported by easyJet as of September 30, 2020 (185 emplo-
yees in respect to 2019) is much lower than that by other airlines, but a staff reduction 
of around 30% is considered an essential measure to ensure the company’s viability, 
as mentioned on its Annual Report 2020 (p.15): “The sudden and extensive reduction 
in demand as a result of the pandemic led to the need to right size our operations, to 
ensure we were able to successfully navigate the unprecedented circumstances. This 
led to the launch of a number of employee consultation processes on proposals to 
reduce staff numbers by up to 30%”
Practice to improve
When reporting on the reduction of wage costs, IAG distinguishes between short-term 
measures (covered by temporary government wage or job support mechanisms) and 
structural measures (restructuring plans in anticipation of a drop in demand that may last 
several years) (IAG Annual Report 2020, p.29)
Negative Practice
(JJVYKPUN[V:(:»Z(UU\HS9LWVY[W!¸;OL[LTWVYHY`SH`VќZJOLTLZH]HPSHISL
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Negative Practice
The reduction of Lufthansa’s workforce by 12,577 employees in 2020 is presented by 
the company as part of a structural adjustment process that will lead to the reduction 
of 27,000 jobs by 2023 (Lufthansa Annual Report 2020, p.16).
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strategic investments with a positive impact in this regard.
Temporary and part-time work
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6\[ZV\YJLKZ[HɈ
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NSLJ[PUN[OLPYK\LKPSPNLUJLK\[PLZ

64
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OH]LHK]LYZLLќLJ[ZVUZHML[`¹
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[VV\[ZV\YJLKM\UJ[PVUZMVYYLHZVUZVMVWLYH[PVUHSLѝJPLUJ`VYJVTTP[TLU[Z[VYLZWLJ[SHIV\YYPNO[ZPU[OL
Z\WWS`JOHPU
Practice to improve
SAS mentions having subcontracted several operations, but does not report on the 
number of people who carry out such subcontracted activities. According to the SAS 
Annual Report 2018, (p.23): “We have continued to outsource some of our ground 
KDQGOLQJVHUYLFHVWRLPSURYHWKHHIųFLHQF\DQGŴH[LELOLW\RIRXUQHWZRUNŚ+HDYLHU
technical maintenance where aircraft are taken out of service for longer periods are 
outsourced to specialist technical subcontractors.”
Practice to improve
SAS is committed to maintaining labour standards similar to those of its own staff, but 
GRHVQRWUHSRUWRQZKLFKVSHFLųFVWDQGDUGVZLOOEHFRYHUHGE\WKLVFRPPLWPHQW$FFRU-
ding to SAS’s Annual Report 2018, (p.46): “SAS requires that employees at subcontrac-
tors have proper market-based employment terms and the right to organize into unions”. 
6.2.3.2 Labour rights
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[OLSV^SL]LSVMYLWVY[PUNVUV[OLYHZWLJ[ZZ\JOHZ[OLWLYJLU[HNLVM[OL^VYRMVYJLJV]LYLKI`JVSSLJ[P]L
HNYLLTLU[ZVY[OLJLY[PÄJH[PVUVMVJJ\WH[PVUHSOLHS[OHUKZHML[`Z`Z[LTZPZZ[YPRPUNHZVUS`[^VJVTWHUPLZ
ZWLJPÄJHSS`YLWVY[VU[OLZLPZZ\LZ
83   ETF. Aviation strategy for Europe: It is time for the Commission to deliver on social issues. 7 December 2015. 
https://www.etf-europe.org/aviation-strategy-for-europe-it-is-time-for-the-commission-to-deliver-on-social-issues/

65
INDICATOR
Result
Number of companies
2018
2019
2020
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plan
C
2
2
2
N.R
1
1
0
N.C    
4
4
5
N.A
0
0
0
80% of workforce covered by collective agreements
C
2
2
2
N.R
5
5
5
N.C
0
0
0
N.A
0
0
0
90% of workforce covered by collective agreements
C
1
1
1
N.R
5
5
5
N.C
1
1
1
N.A
0
0
0
5HSRUWVRQVWULNHVRUODERXUFRQŴLFWV
C
3
2
0
N.R
0
1
1
N.C
1
2
0
N.A
3
2
6
Reports on consultation and dialogue processes with unions
C
7
6
7
N.R
0
0
0
N.C    
0
1
0
N.A
0
0
0
Salaries/EBITDA ratio did not decrease
C
5
4
0
N.R
0
0
0
N.C    
2
4
0
N.A
0
0
7
Reports on personal/familiar reconciliation measures
C
2
3
1
N.R
4
3
3
N.C    
1
1
3
N.A
0
0
0
5HSRUWVRQQXPEHURIZRUNHUVEHQHųWLQJIURPWKHVHPHDVXUHV
C
0
0
0
N.R
7
7
7
N.C    
0
0
0
N.A
0
0
0
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59!5V[YLWVY[LK![OLJVYWVYH[LKVJ\TLU[H[PVUMVY[OLYLMLYLUJL`LHYKVLZUV[PUJS\KL[OLPUMVYTH[PVUPU[OL[LYTZLZ[HISPZOLKI`
[OLPUKPJH[VY
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5(!5V[HWWSPJHISL![OLPUKPJH[VYPZUV[HWWSPJHISLMVY[OLJVTWHU`PU[OLYLMLYLUJL`LHYHUKJVUZLX\LU[S`P[PZUV[JVUZPKLYLKMVY
[OLJVTWHU`»ZZJVYL

66
*LY[PÄLKVJJ\WH[PVUHSOLHS[OHUKZHML[`WSHU
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OH]LHUHJJ\YH[LHUKVIQLJ[P]LKPHNUVZPZI`PUKLWLUKLU[L_[LYUHSL_WLY[Z0U[OPZ^H`[OLJVTWHU`JHU
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JLY[PÄJH[PVUZ[HUKHYKZPUYLJLU[`LHYZOHZILLU[OL)YP[PZO6JJ\WH[PVUHS/LHS[OHUK:HML[`(ZZLZZTLU[
:LYPLZ6/:(:84HS[OV\NOP[OHZYLJLU[S`ILLUZ\WLYZLKLKI`[OLZ[HUKHYKZVM[OL0:6
MHTPS`PUWHY[PJ\SHY0:6!856JJ\WH[PVUHS/LHS[OHUK:HML[`4HUHNLTLU[:`Z[LTZ(^PKLS`
YLJVNUPaLKZ[HUKHYKPU[OLHPYSPULPUK\Z[Y`PZ[OL6WLYH[PVUHS:HML[`(\KP[06:(WHY[VMHWYVNYHTKL-
ZPNULKI`0(;(86¸[VHZZLZZ[OLVWLYH[PVUHSTHUHNLTLU[HUKJVU[YVSZ`Z[LTZVMHUHPYSPUL¹87
0UNLULYHS[OLHPYSPULZHUHS`ZLKTLU[PVUOH]PUNOLHS[OHUKZHML[`Z`Z[LTZ^P[OOPNOX\HSP[`Z[HUKHYKZHUK
M\SSJV]LYHNLVM[OLPYHJ[P]P[PLZI\[[OL`KVUV[WYV]PKLL]PKLUJLVM[OLPYJLY[PÄJH[PVUI`L_[LYUHSL_WLY[Z
PUPUKLWLUKLU[H\KP[Z;OLZLJVTWHUPLZYLWVY[JLY[PÄJH[PVUZPUV[OLYHYLHZ[OH[TH`ILYLSH[LKZ\JOHZ
X\HSP[`VYLU]PYVUTLU[I\[[OL`HYLUV[ZWLJPÄJJLY[PÄJH[PVUZPUVJJ\WH[PVUHSOLHS[OHUKZHML[`PZZ\LZ6US`
[^VJVTWHUPLZ(PY-YHUJL234HUK:(:TLU[PVUOH]PUNVJJ\WH[PVUHSOLHS[OHUKZHML[`WSHUZVYZ`Z[LTZ
]LYPÄLK\UKLYPUKLWLUKLU[Z[HUKHYKZH[[OLHPYSPULNYV\WSL]LS
0U[OLJHZLVM(PY-YHUJLP[YLWVY[ZOH]PUNP[ZOLHS[OHUKZHML[`Z`Z[LTJLY[PÄLK\UKLY6/:(:"P[HSZVOHZ
[OL06:(JLY[PÄJH[PVU0U[OLJHZLVM:(:VUS`06:(JLY[PÄJH[PVUPZYLWVY[LK
Collective labour agreements coverage
(JJVYKPUN[V[OL036JVSSLJ[P]LIHYNHPUPUNPZ¸H]VS\U[HY`WYVJLZZ\ZLK[VKL[LYTPUL[LYTZHUKJVUKP[PVUZ
VM^VYRHUKYLN\SH[LYLSH[PVUZIL[^LLULTWSV`LYZ^VYRLYZHUK[OLPYVYNHUPZH[PVUZSLHKPUN[V[OLJVU-
JS\ZPVUVMHJVSSLJ[P]LHNYLLTLU[*VSSLJ[P]LIHYNHPUPUNOHZ[OLHK]HU[HNL[OH[P[ZL[[SLZPZZ\LZ[OYV\NO
KPHSVN\LHUKJVUZLUZ\ZYH[OLY[OHU[OYV\NOJVUÅPJ[HUKJVUMYVU[H[PVU¹87
5LNV[PH[PVUIL[^LLUJVTWHUPLZHUKLTWSV`LLZ[OYV\NOVYNHUPZH[PVUZ[OH[YLWYLZLU[[OLPYPU[LYLZ[ZPZ[OL-
YLMVYLHJVUZ[Y\J[P]LHUKILULÄJPHSWYVJLZZMVYVYNHUPZH[PVUZ(^LSSTHUHNLKJVSSLJ[P]LIHYNHPUPUNZ`Z[LT
OHZHWVZP[P]LPTWHJ[VU[OLNLULYH[PVUVMHKLX\H[L^VYRLU]PYVUTLU[ZMHJPSP[H[PUN[OLL_LYJPZLVMSHIV\Y
YPNO[ZHUKH]VPKPUN[OLLZJHSH[PVUVMJVUÅPJ[Z^P[O^VYRLYZ
*VSSLJ[P]L IHYNHPUPUN T\Z[ OH]L JSLHY WYVJLK\YLZ HUK HWWYVWYPH[L TLJOHUPZTZ N\HYHU[LLPUN [OH[ [OL
PU[LYLZ[ZVMIV[OWHY[PLZHYLHKLX\H[LS`JVUZPKLYLKPUKLJPZPVUTHRPUN0UHJJVYKHUJL^P[O036»Z*VSSLJ[P]L
(NYLLTLU[*VU]LU[PVU¸JVSSLJ[P]LIHYNHPUPUNZOV\SKUV[ILOHTWLYLKI`[OLHIZLUJLVMY\SLZNV]LYUPUN
[OLWYVJLK\YL[VIL\ZLKVYI`[OLPUHKLX\HJ`VYPUHWWYVWYPH[LULZZVMZ\JOY\SLZ¹88
6US`[^VJVTWHUPLZYLWVY[VU[OLWLYJLU[HNLVM[OL^VYRMVYJLJV]LYLKI`JVSSLJ[P]LHNYLLTLU[Z!0(.
HUK:(:0U[OLJHZLVM0(.[OPZJV]LYHNLKLJYLHZLKZSPNO[S`IL[^LLU HUK
9LNHYKPUN:(:[OLJV]LYHNLPZWYHJ[PJHSS`[V[HSHJJVYKPUN[V:(:»Z:\Z[HPUHIPSP[`9LWVY[W!
¸   VMHSS:(:LTWSV`LLZHYLJV]LYLKI`JVSSLJ[P]LIHYNHPUPUNHNYLLTLU[Z^P[O[OLTHPUL_JLW[PVU
VMZLUPVYTHUHNLTLU[H[.YV\WSL]LS¹
84  ISO. Sistemas de Gestión de Riesgos y Seguridad. 
https://www.isotools.org/normas/riesgos-y-seguridad/ohsas-18001/ 
85  ISO. Occupational health and safety management systems — Requirements with guidance for use. 
https://www.iso.org/standard/63787.html 
86   IATA. IATA Operational Safety Audit (IOSA). 
https://www.iata.org/en/programs/safety/audit/iosa/ 
87   ILO. Q&As on business and collective bargaining. 
https://www.ilo.org/empent/areas/business-helpdesk/WCMS_DOC_ENT_HLP_CB_FAQ_EN/lang--en/index.htm 
88   ILO. C154 - Collective Bargaining Convention, 1981 (No. 154). 
https://www.ilo.org/dyn/normlex/en/f?p=NORMLEXPUB:12100:0::NO::P12100_ILO_CODE:C154

67
Malpractice
Ryanair agreed to start the transition to collective labour agreements at the end of 2017, in a 
process that has not been free from labour disputes. Ryanair considers this transition as a risk 
for the company, as mentioned in its 2019 Annual Report (p.66): “Each country within the EU has 
different rules and rates in relation to the calculation of employee and employer social insurance 
contributions and any increase in the rates of contributions will have a material adverse effect on 
5\DQDLUŒVFDVKŴRZVųQDQFLDOSRVLWLRQDQGUHVXOWVRIRSHUDWLRQVŕ
According to a report by the European Transport Workers’ Federation (ETF) issued at the end 
of 2019: “While the company has announced progress in its relationship with trade unions, the 
SXQLWLYHPDQDJHPHQWVW\OHDQGDQWLXQLRQEHKDYLRUKDVLQDQXPEHURIVLJQLųFDQWLQVWDQFHVFRQ-
WLQXHGŚ5\DQDLUWHUPLQDWHVZRUNHUVZKRUDLVHFRQFHUQVLQWHUQDOO\ZDUQVFUHZRIIUHSRUWLQJ
and then terminates workers who become whistleblowers publicly. They threaten to or actually 
close bases where crew exercise their right to strike or take legal action against the company”.89
Practice to 
improve
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its workforce in Germany (83%).
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
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
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89   ETF: A year of change? Ryanair’s industrial relations a year after its big announcement.
https://www.etf-europe.org/wp-content/uploads/2018/12/ITF-ETF-Report_Progress_at_Ryanair_131218.pdf

68
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0UHJVU[L_[VML_JLW[PVUHSJPYJ\TZ[HUJLZZ\JOHZ[OVZLL_WLYPLUJLKZPUJL4HYJO[OLKLTHUKZVM
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VMSHIV\YYLSH[PVUZ^P[OPU[OLZLJVTWHUPLZ;OLJH\ZLZVM[OLHUK JVUÅPJ[ZYLTHPUSHYNLS`
\UYLZVS]LKHUK[OL¸JVZ[YLK\J[PVU¹TLHZ\YLZPU[OL^HRLVM[OLJYPZPZTH`SLHK[VHWYLJHYPV\Z
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Table 16: Main strikes per company, 2018-2020
Company
2018
2019
2020
Air France – KLM
February-May: France
September: Netherlands
February: France 
(Hop!)
easyJet
-
-
-
IAG
-
July/September: UK
September: Spain
-
Lufthansa
April: Germany
May: Belgium
October: Germany
November: Germany
December: Germany
-
Ryanair1
March-April: Portugal
July: Ireland, Spain, Belgium, Portugal, Italy
August: Ireland, Germany, Belgium, Nether-
lands, Sweden
September: Spain, Portugal, Italy, Belgium, 
Germany, Netherlands
August: Ireland, UK
September: Spain
-
SAS
-
April: Sweden, Denmark, 
Norway
-
TAP
April: Portugal
-
-
(Based on public sources)

69
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[P]LS`IL[^LLUHUK )HZLKVU[OLPYPTWHJ[[OLJHZLVM9`HUHPYPZ^VY[OHZWLJPÄJTLU[PVU
NP]LU[OH[PU[OLSV^JVZ[HPYSPULL_WLYPLUJLKZ[YPRLHJ[PVUZPU JV\U[YPLZ;OL5L^@VYR;PTLZJHSSLK
[OL1\S`Z[YPRLHJ[PVUPUJV\U[YPLZ¸[OLIPNNLZ[[OH[9`HUHPYOHZOHK[VNYHWWSL^P[O¹90 The strikes the 
MVSSV^PUNTVU[OOP[L]LUOHYKLYHUKSHZ[LK\U[PS[OLLUKVM[OLZ\TTLY;OLZ[YPRPUNZ[HќKLTHUKLKIL[[LY
WH`HUKZVJPHSZLJ\YP[`JV]LYHNLPUHJJVYKHUJL^P[O[OLSH^ZVM[OLPYJV\U[YPLZ(JJVYKPUN[V[OL))*
¸\UPVUZ^HU[Z[Hќ[VILNP]LUJVU[YHJ[ZPU[OLJV\U[YPLZ^OLYL[OL`SP]LYH[OLY[OHU\UKLY0YPZOSH^;OL`
ZH`LTWSV`PUNZ[Hќ\UKLY0YPZOSH^PUJVU]LUPLUJLZ^VYRLYZHUKHќLJ[Z[OLPYHIPSP[`[VHJJLZZZVJPHSZLJ\YP[`
ILULÄ[Z¹910[ZOV\SKILUV[LKH[HTLL[PUNPU)Y\ZZLSZVU:LW[LTILY[OH[,<ZVJPHSHќHPYZJVTTPZ-
ZPVULY4HYPHUUL;O`ZZLU[VSK6»3LHY`[OH[¸YLZWLJ[PUN,<SH^PZUV[ZVTL[OPUNV]LY^OPJO^VYRLYZZOV\SK
OH]L[VULNV[PH[LUVYPZP[ZVTL[OPUN^OPJOJHUILKVULKPќLYLU[S`MYVTJV\U[Y`[VJV\U[Y`¹92
0[ZOV\SKILUV[LK[OH[[OLJVTWHU`OHZHILSSPNLYLU[WVZP[PVUYLNHYKPUN[OPZHUKV[OLYJVUÅPJ[ZHJJ\ZPUNV[OLY
JVTWHUPLZVMWHY[PJPWH[PUNPUHJVUZWPYHJ`HNHPUZ[9`HUHPY-VYL_HTWSLHJJVYKPUN[VHJVTWHU`WYLZZYLSLHZL
PU1\S`!¸;OLZLJVVYKPUH[LKZ[YPRL[OYLH[ZHYLKLZPNULK[VJH\ZL\UULJLZZHY`KPZY\W[PVU[VJ\Z[VTLYZ
HUKKHTHNL9`HUHPY»ZSV^MHYLTVKLSMVY[OLILULÄ[VMOPNOMHYLJVTWL[P[VYHPYSPULZPU0YLSHUKHUK.LYTHU`¹93
;OL^H]LVMZ[YPRLZL_WLYPLUJLKI`(PY-YHUJLIL[^LLU-LIY\HY`HUK4H`HSZVZ[HUKZV\[K\L[VP[Z
ZJHSL;OPZJVUÅPJ[HJJVYKPUN[V[OL.YV\W^V\SKOH]LOHKHUPTWHJ[VUP[ZYL]LU\LZVMHWWYV_PTH[LS`
,<9TPSSPVU(JJVYKPUN[V,-,!¸(PY-YHUJLJYL^TLTILYZHUKNYV\UKZ[HќZ[YPRLZILNHUPU-LIY\HY`
PUWYV[LZ[V]LY^OH[[OL`JVUZPKLYLKHZ[LHK`SVZZVMW\YJOHZPUNWV^LYZPUJLK\L[VPUÅH[PVU^OPSL
ZOHYLOVSKLYZJVU[PU\LK[VTHRLNHPUZ¹94;OLZLZ[YPRLHJ[PVUZPUOHKHULќLJ[HSZVH[JVYWVYH[LNV-
]LYUHUJLSL]LSHZTLU[PVULKPU(PY-YHUJL234<UP]LYZHS9LNPZ[YH[PVU+VJ\TLU[W !¸6U4H`
MVSSV^PUNZ[YPRLZH[(PY-YHUJLHUK[OLULNH[P]LYLZ\S[VM[OLZ[HќJVUZ\S[H[PVUVU[OL^HNLHNYLL-
TLU[1LHU4HYJ1HUHPSSHJZ[LWZKV^UHZ*OHPYTHUHUK*OPLM,_LJ\[P]L6ѝJLYVM(PY-YHUJL234HUK
*OHPYTHUVM[OL(PY-YHUJL)VHYKVM+PYLJ[VYZ¹
,HZ`1L[PZ[OLVUS`JVTWHU`[OH[KVLZUV[YLWVY[VUZ[YPRLZHUKTHRLZUVYLMLYLUJLZ[VP[PUL_[LYUHSZV\Y-
JLZ0U[OLJHZLVM:(:HUK;(7[OLYLPZVUS`VULJVUÅPJ[PU[OLHUHS`ZLKWLYPVKIYPLÅ`HJRUV^SLKNLKI`
IV[OJVTWHUPLZPU[OLPYHUU\HSKVJ\TLU[H[PVU
Malpractice
5\DQDLUKDVUHFHLYHGWUDGHXQLRQFRPSODLQWVLQUHFHQW\HDUVIRUKDYLQJPDGHLWGLIųFXOWWRH[HU-
cise the right to strike. In a news story about the August 2019 strike in the company bases in 
6SDLQ(O&RQųGHQFLDOVWDWHVWKDW5\DQDLUSLORWVŔKDYHDFFXVHGWKHDLUOLQHRIYLRODWLQJWKHULJKW
to strike by imposing 100% minimum services, under threats and coercion”.95 Following these 
complaints, in March 2021, the Spanish National Court condemned the low-cost airline for 
violating the freedom of association rights of unions and workers’ right to strike. According to 
El Periódico “the court condemns Ryanair to compensate each union with 30,000 euros and to 
replace the workers who participated in the September 2019 strike with the monthly produc-
tivity bonus amounting to 150 euros per month, from which only the amount 5 euros for each 
day of participation in said strike”.96
90   The New York Times. 25 July 2018. Ryanair, Long Opposed to Unions, Grapples With Strikes in Europe. 
https://www.nytimes.com/2018/07/25/business/ryanair-strike-cabin-crew.html
91   Reuters, BBC News. 28 September 2018. Ryanair cancels 250 ﬂights as strike action hits tens of thousands. 
https://www.bbc.com/news/business-45667370 
92   European Commission press release. Commissioner Thyssen receives Ryanair CEO Michael O’Leary. 26 September 2018. 
https://ec.europa.eu/social/main.jsp?langId=en&catId=82&newsId=9195&furtherNews=yes 
93   Ryanair Group. Irish Customer Update – Pilot Strike Thurs 12 July. 10 July 2018. 
https://corporate.ryanair.com/news/irish-customer-update-pilot-strike-thurs-12-july/ 
94   EFE. Pilots refuse Air France management’s offer to end strike action. 17 April 2018. 
https://www.efe.com/efe/english/business/pilots-refuse-air-france-management-s-offer-to-end-strike-action/50000265-3586787  
95   EFE. Pilotos de Ryanair denuncian amenazas y coacciones en el primer día de huelga. Cotizalia. 19 September 2019. 
https://www.elconﬁdencial.com/empresas/2019-09-19/pilotos-ranyanair-denuncia-amenazas-coacciones-huelga_2241683/ 
96   Ledo, S. La Audiencia Nacional sentencia que Ryanair vulneró el derecho a huelga en 2019. El Periodico. 25 March 2021. 
https://www.elperiodico.com/es/economia/20210325/audiencia-nacional-sentencia-ryanair-derecho-huelga-2019-11610800

70
Salaries/EBITDA ratio
;OLYH[PVIL[^LLUZHSHY`JVZ[ZHUKHJVTWHU`»Z,)0;+(ZLY]LZ[VKL[LYTPUL[OLYLSH[P]L^LPNO[VMZHSHYPLZ
PUHJVTWHU`»ZLJVUVTPJYLZ\S[Z(KLJYLHZLPU[OPZYH[PVPZPUKPJH[P]LVM[OL^LPNO[SVZZVMSHIV\YJVZ[ZPU
YLSH[PVU[VV[OLYI\KNL[P[LTZVMHJVTWHU`;OLYLMVYLP[TH`TLHU[OH[[OLWHY[PJPWH[PVUVM^VYRLYZPU[OL
WYVÄ[VMHJVTWHU`PZYLK\JLK^P[OHUPUJYLHZLPUWYVÄ[Z[OH[KVLZUV[JVYYLZWVUK[VIL[[LYZHSHY`SL]LSZ
.P]LU[OH[HSSJVTWHUPLZYLJVYKLKULNH[P]L,)0;+(PU[OPZKH[H^V\SKUV[ILHWWSPJHISLPU[OH[`LHY
(ZJHUILZLLUPU[OLMVSSV^PUN[HISL[OLYLPZHKP]LYZP[`VMZP[\H[PVUZPU[OPZYLNHYKHUKHJSLHY[YLUKIL-
[^LLU[OL`LHYZHUK JHUUV[ILPUMLYYLK
 
 
Table 17:Salaries/EBITDA Ratio 2018-2020
Company
2017 (%)
2018  (%)
2019  (%)
Air France – KLM
159.07
126.35
135.03
easyJet
80.95
83
76.69
IAG
75.15
72.26
61.79
Lufthansa
140.05
145.26
157.95
Ryanair3
34.89
53.95
59.01
SAS
109.3
160.6
244.83
TAP4
106.8
332.45
142.18
(Based on companies annual/sustainability reports, 2017-2020)
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[YHY`H[9`HUHPYLHZ`1L[HUK0(.P[PZSV^LY;OLOPNOWLYJLU[HNLZYLHJOLKI`;(7PUHUK:(:PU 
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*VUÅPJ[ZIL[^LLU^VYRHUKV[OLYHZWLJ[ZVMSPMLJHUILJH\ZLKI`SVUNOV\YZKPѝJ\S[ZJOLK\SLZVYPU[LUZL
WLYPVKZH[^VYRHZ^LSSHZI`[OLKLTHUKZVM\UWHPK^VYRPU[OLOVTLWHY[PJ\SHYS`KVTLZ[PJJOVYLZHUK
[OLJHYLVMJOPSKYLUHUK[OLLSKLYS`¹
:PUJL^VTLU[HRLVUHNYLH[LYI\YKLUPUJHYL^VYR^VYRSPMLJVUÅPJ[Z^PSSHSZVOH]LHULNH[P]LLќLJ[VU
NLUKLYLX\HSP[`;OLYLWVY[PKLU[PÄLZHZWYLMLYLU[PHSHYLHZVM[OLZLWVSPJPLZVU[OLWHY[VM[OLJVTWHUPLZ
HZÅL_PIPSP[`HYV\UK[OLWSHJLHUK[PTLVM^VYR"Z\JOHJ[PVUZZOV\SKILHJJVTWHUPLKI`ZVJPHSILULÄ[Z
HUKSLH]LYLN\SH[PVUZH[[OLNV]LYUTLU[SL]LS;OLZLTLHZ\YLZOH]LHWVZP[P]LPTWHJ[VU[OL^LSSILPUNVM
LTWSV`LLZHUK[OLPYSL]LSZVMZH[PZMHJ[PVU^P[O[OLJVTWHU`
3   Labour costs for Ryanair’s ﬁscal year (April - March), salaries not reported
4   Labour costs vs EBITDA ratio, salaries and EBITDA not reported.
97   Davies, R. Work-life balance Measures to help reconcile work, private and family life. European Parliament. 
https://www.europarl.europa.eu/RegData/bibliotheque/brieﬁng/2013/130549/LDM_BRI(2013)130549_REV1_EN.pdf

71
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context,98HUKHYLPUJYLHZPUNS`[OLZ\IQLJ[VMKLTHUKZMYVT[YHKL\UPVUZ[VJVTWHUPLZHUKSLNPZSH[VYZ99
 
(ZLJ[VYZ\JOHZHPY[YHUZWVY[PTWSPLZLZWLJPHSS`MVY[OLÅPNO[JYL^HUKJHIPUJYL^[OLULLKMVYSVUN[YPWZ
HUKSVUN^VYRPUNOV\YZ^P[OHWV[LU[PHSULNH[P]LPTWHJ[VU^VYRSPMLIHSHUJL.P]LU[OPZWHY[PJ\SHYP[`VM
[OLPYHJ[P]P[PLZJVTWHUPLZPU[OLZLJ[VYZOV\SKWYV]PKLHKLX\H[LZVS\[PVUZHUKW\ISPJPUMVYTH[PVUVU[OLPY
UH[\YLHUKZJVWL/V^L]LYP[PZVULVM[OLHZWLJ[Z^OLYL[OLYLPZSLZZ[YHUZWHYLUJ`PU[OLJVTWHUPLZ
HUHS`ZLK!UVULVM[OLHPYSPULZYLWVY[VU[OLWLYJLU[HNLVYU\TILYVMLTWSV`LLZ^OVOH]LILULÄ[LKMYVT
^VYRSPMLJVUJPSPH[PVUTLHZ\YLZ
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TLHZ\YLZIL[^LLUHUKSPTP[PUN[OLTZLS]LZ[VNLULYHSTLU[PVUZVMTLJOHUPZTZHPTLKH[[OPZ
PZZ\LHZPU[OLJHZLVM(PY-YHUJL^OPJOYLWVY[ZPUP[Z<UP]LYZHS9LNPZ[YH[PVU+VJ\TLU[ W[OH[
¸[VWYVTV[LHIHSHUJLIL[^LLUWYVMLZZPVUHSHUKWYP]H[LSP]LZHU\TILYVMKPќLYLU[HJ[PVUZHUKZJOLTLZ
OH]LILLUKLWSV`LKPUWHY[PJ\SHYYLTV[L^VYRPUNHJJLZZ[VZWLJPHSWHY[[PTLHYYHUNLTLU[ZHUKOLSW^P[O
WHYLU[PUNWHYLU[OVVKIVVRSL[0UHKKP[PVU[VZ\WWVY[LTWSV`LLZ^OVTH`ILJVU[LUKPUN^P[OWLYZVUHS
VYWYVMLZZPVUHSKPѝJ\S[PLZTVYLLќLJ[P]LS`(PY-YHUJLW\[ZHUL[^VYRVMZVJPHSHZZPZ[HU[ZH[[OLPYKPZWVZHS¹
Practice to 
improve
IAG is the only company that reports on work-life conciliation policies and measures in 2018, 
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(p.58): “Throughout the Group, there are various policies and initiatives designed to promote 
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depending on the position, and are designed in their entirety to help employees organize their 
personal and work life. Regarding co-parenting responsibilities, there are policies on part-time 
work, maternity, adoption, paternity and shared parental leave”.
However, the company does not provide data on how many employees have participated in 
these initiatives.
6.2.3.4. Equality and non-discrimination
,X\HSP[`HUKUVUKPZJYPTPUH[PVUPZ[OLJH[LNVY`[OH[ZJVYLZOPNOLZ[ZJVYLPU[OLSHIV\YHYLHOV^L]LY[OLSL-
]LSZVM[YHUZWHYLUJ`HUKWLYMVYTHUJLVM[OLJVTWHUPLZHUHS`ZLKHYLZ[PSSSV^(SSVM[OLTL_WYLZZPUTVYL
VYSLZZKL[HPSHNLULYHSJVTTP[TLU[[VWYVTV[PUNLX\HSVWWVY[\UP[PLZPU[OLPY^VYRMVYJLHUKTHUHNLTLU[
/V^L]LY[OLZLHYLJVTTP[TLU[Z^P[OV\[L_WSPJP[NVHSZX\HU[PÄHISLHUK^P[O[LTWVYHY`KLHKSPULZHUK
[OLYLPZSP[[SLPUMVYTH[PVUHIV\[[OLM\UKHTLU[HSPZZ\LVM]LYPM`PUNJVTWSPHUJL^P[O[OLTHZPU[OLJHZLVM
ZHSHY`NHWZIHZLKVUNLUKLYHNLVYWYVMLZZPVUHSJH[LNVY`4LHZ\YLZMVY[OLPUJS\ZPVUVMWLVWSL^P[OKPZH-
IPSP[PLZPU[OL^VYRMVYJLYLJLP]LSP[[SLH[[LU[PVUHUK[OLWLYJLU[HNLVM[OL[V[HS^VYRMVYJL[OH[[OL`YLWYLZLU[
PZ\Z\HSS`UV[L]LUYLWVY[LK
>VTLUWYVNYLZZP]LS`NHPUZWHJLVU[OLIVHYKZVMKPYLJ[VYZVM[OLJVTWHUPLZHUHS`ZLKOV^L]LY[OLPY
WYLZLUJLPUV[OLYHYLHZVMTHUHNLTLU[YLTHPUZH[HSV^SL]LSVYPZUV[YLWVY[LK-PUHSS`[OLKH[HJVSSLJ[LK
YL]LHSZ[OH[[OLKPќLYLUJLIL[^LLU[OLOPNOLZ[YLT\ULYH[PVUVMTHUHNLTLU[HUK[OLH]LYHNLZHSHY`VM
LTWSV`LLZJVU[PU\LZ[VILOPNOKLZWP[L[OLYLK\J[PVUVM[OPZYH[PVPU
98   Eurostat. Reconciliation of work and family life - statistics. September 2019. 
https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Reconciliation_of_work_and_family_life_-_statistics&oldid=511883#Conclusions 
99   Helferich, B. & Franklin, P. Trade unions’ strategies and good practices to promote work-life balance. Syndicat European Trade Union. 
https://www.etuc.org/sites/default/ﬁles/publication/ﬁle/2019-10/743-Rebalance-long-EN-web.pdf

72
INDICATOR
Result
Number of companies
2018
2019
2020
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C
3
3
3
N.R
0
0
0
N.C    
4
4
4
N.A
0
0
0
&RPPLWPHQWVWRJHQGHUHTXDOLW\ZLWKTXDQWLųDEOHDQGWLPHERXQGJRDOV
C
4
4
4
N.R
0
0
0
N.C
3
3
3
N.A
0
0
0
5HSRUWVVSHFLųFDOO\RQJHQGHUSD\JDS
C
1
1
1
N.R
5
5
5
N.C
1
1
0
N.A
0
0
1
Reported gender pay gap is less than 30% 
C
1
1
1
N.R
5
5
5
N.C
1
1
1
N.A
0
0
0
30% of the workforce are women
C
4
5
4
N.R
0
0
0
N.C    
3
2
3
N.A
0
0
0
30% of the members of the board of directors are women
C
5
5
5
N.R
0
0
0
N.C    
2
2
2
N.A
0
0
0
30% of managers (apart from the board of directors) are women
C
1
3
4
N.R
3
2
2
N.C    
3
2
1
N.A
0
0
0
Board or board committees chaired by women
C
3
4
6
N.R
0
0
0
N.C    
4
3
1
N.A
0
0
0
Reports on workforce composition by age
C
3
3
3
N.R
4
4
4
N.C
0
0
0
N.A
0
0
0
5HSRUWVVSHFLųFDOO\RQDJHSD\JDS
C
0
1
1
N.R
7
6
6
N.C
0
0
0
N.A
0
0
0
5HSRUWVVSHFLųFDOO\RQSURIHVVLRQDOFDWHJRU\SD\JDS
C
0
1
1
N.R
7
6
6
N.C
0
0
0
N.A
0
0
0

73
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59!5V[YLWVY[LK![OLJVYWVYH[LKVJ\TLU[H[PVUMVY[OLYLMLYLUJL`LHYKVLZUV[PUJS\KL[OLPUMVYTH[PVUPU[OL[LYTZLZ[HISPZOLKI`
[OLPUKPJH[VY
5*!5VUJVTWSPHUJL![OLPUMVYTH[PVUWYV]PKLKI`[OLJVTWHU`KVLZUV[TLL[[OLJVUKP[PVUZLZ[HISPZOLKPU[OLPUKPJH[VY
5(!5V[HWWSPJHISL![OLPUKPJH[VYPZUV[HWWSPJHISLMVY[OLJVTWHU`PU[OLYLMLYLUJL`LHYHUKJVUZLX\LU[S`P[PZUV[JVUZPKLYLKMVY
[OLJVTWHU`»ZZJVYL
Equality and non discrimination policy and commitments
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UH[PVUWVSPJPLZ0U[OLJHZLVM0(.P[PZHWVSPJ`YLSH[LKVUS`[VLX\HSP[`HUKKP]LYZP[`PUZLUPVYTHUHNLTLU[
;OLYLTHPUPUNMV\YJVTWHUPLZKVUV[OH]LW\ISPJWVSPJPLZZWLJPÄJHSS`KLKPJH[LK[V[OPZPZZ\LHS[OV\NO
[OL`KVPUJS\KLNLULYHSJVTTP[TLU[ZYLSH[LK[VLX\HSP[`HUKUVUKPZJYPTPUH[PVUPU[OLPYHUU\HSYLWVY[ZVYPU
JVKLZVMJVUK\J[VYV[OLYPU[LYUHSYLN\SH[PVUZ
9LNHYKPUN[OLLZ[HISPZOTLU[VMX\HU[PÄHISLNVHSZ^P[OZWLJPÄJ[PTLMYHTLZMVYNLUKLYLX\HSP[`JVTWSPHUJL
PZ\UL]LUPU[OL`LHYZJVUZPKLYLK!0(.9`HUHPYHUK3\M[OHUZHYLWVY[VU[OPZ[OYV\NOV\[[OLWLYPVK
OV^L]LY[OLJVTTP[TLU[ZHYLYLSH[LKVUS`[V[OLWYLZLUJLVM^VTLUPUZLUPVYTHUHNLTLU[0U
[OLJHZLVM9`HUHPY[OPZPZHJVTTP[TLU[[VYLHJOMLTHSLYLWYLZLU[H[PVUVU[OLIVHYKVMKPYLJ[VYZI`
HNVHS[OH[P[THUHNLZ[VHJOPL]LHZ^PSSILZLLUPU[OLUL_[ZLJ[PVU
0U[OLJHZLZVM0(.HUK3\M[OHUZH[OL`\UKLY[HRL[VHJOPL]LVUL[OPYKMLTHSLYLWYLZLU[H[PVUPUZLUPVY
THUHNLTLU[I`[OLLUKVMÄZJHS`LHYZHUKYLZWLJ[P]LS`^P[OUVZPTPSHYJVTTP[TLU[ZHKVW[LK
MVY[OLNLULYHSSL]LSVM[OL^VYRMVYJL
0UZPTPSHY[LYTZ(PY-YHUJL234PZJVTTP[[LK[VHJOPL]PUNMLTHSLYLWYLZLU[H[PVUPU[OL[VWVM[VW
THUHNLTLU[I`/V^L]LY[OLVUS`TLU[PVUVM[OPZJVTTP[TLU[PZTHKLPU-VYP[ZWHY[LHZ`1L[
JVTTP[[LKPU[^V`LHYZHUK [OH[VMUL^S`OPYLKWPSV[Z^PSSIL^VTLUPUOV^L]LY
PU[OH[`LHY[OLJVTWHU`YLWVY[Z[OH[[OLJVTTP[TLU[^HZZ\ZWLUKLK^P[OV\[WYV]PKPUNHUL^[PTLSPUL
Practice to 
improve 
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non-discrimination. 
However, both companies lack measurable targets and timelines for gender equality in the workforce.
Reports measures for labour inclusion of people with disabilities
C
2
3
4
N.R
3
2
1
N.C    
2
2
2
N.A
0
0
0
Reports on number/% of employees with disabilities
C
2
2
2
N.R
5
5
5
N.C
0
0
0
N.A
0
0
0
Reports on difference between highest and average salary
C
1
2
2
N.R
6
5
5
N.C
0
0
0
N.A
0
0
0
CEO remuneration is less than 30 times the average employee salary
C
2
3
4
N.R
0
0
0
N.C
5
4
3
N.A
0
0
0

74
Gender equality performance:
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ULYH[PVUHUKWYVTV[PVUVYHJJLZZ[VTHUHNLYPHSWVZP[PVUZ0U[OLHPYSPULZLJ[VY[OLZLPZZ\LZJVU[YPI\[L[V
[OLZOVY[HNLVM^VTLUHTVUNWPSV[Z[OLOPNOLZ[WHPKZLJ[VYVM[OL^VYRMVYJL^P[O[OLL_JLW[PVUVMTHUH-
NLTLU[;OLLZ[HISPZOTLU[VMWVSPJPLZHUKVIQLJ[P]LZYLSH[LK[VNLUKLYLX\HSP[`PZHWVZP[P]LLSLTLU[^OLU
P[JVTLZ[V[HJRSPUN[OLLSPTPUH[PVUVMPULX\HSP[PLZPUYLT\ULYH[PVUHJJLZZHUKWYVTV[PVUPU[OL^VYRMVYJL
HUKPUTHUHNLYPHSM\UJ[PVUZ)\[[OLZLJVTTP[TLU[ZT\Z[ILZWLJPÄJHUKILHJJVTWHUPLKI`YLWVY[PUN
HJ[P]P[`VU[OLKLNYLLVMJVTWSPHUJLHJOPL]LKPU[OLMVSSV^PUN`LHYZ
0U[OLZL]LUJVTWHUPLZHUHS`ZLK[OLYLPZNLULYHSS`HUPUZ\ѝJPLU[KLNYLLVM[YHUZWHYLUJ`YLNHYKPUN[OLPY
NLUKLYLX\HSP[`WLYMVYTHUJLHZ^LSSHZHKLNYLLVMJVTWSPHUJL[OH[PZWYVNYLZZP]LS`PTWYV]PUNI\[PZZ[PSS
HSVUN^H`MYVTLќLJ[P]LLX\HSP[`PUHZWLJ[ZZ\JOHZHJJLZZ[VTHUHNLTLU[WVZP[PVUZ
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TVYL[OHU^VTLUHTVUN[OLPYLTWSV`LLZHUK:(:YLWVY[Z]HS\LZHYV\UK3\M[OHUZHHUK9`H-
UHPYKVUV[WYV]PKLKH[H^OPSL;(7VUS`KVLZZVPU +LZWP[L[OPZYLSH[P]LLX\HSP[`PUHNNYLNH[L
[LYTZ[OLYLPZHUV[HISLWH[[LYUVMKPZ[YPI\[PVUKLWLUKPUNVU[OLWYVMLZZPVUHSJH[LNVY`!PUNLULYHS[OL
WYLZLUJLVM^VTLUPU[OLÅPNO[JYL^HUKTHUHNLTLU[SL]LSZPZSV^^OPSLV[OLYWVZP[PVUZZ\JOHZJHIPU
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100   UK Government. Easy Jet 2018/19 Gender pay gap report. 
https://gender-pay-gap.service.gov.uk/Employer/EMxvV2qy/2018 
101   UK Government. Ryanair ltd 2018/19 Gender pay gap report. 5 April 2018.  
https://gender-pay-gap.service.gov.uk/Employer/rrAcOspy/2018 
102   Topham, G. Ryanair reveals worst gender pay gap in airline industry. The Guardian. 3 April 2018. 
https://www.theguardian.com/business/2018/apr/03/ryanair-reveals-worst-gender-pay-gap-airline-industry 
103   Directive 2014/95/EU of the European Parliament and of Council. 22 October 2014.
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32014L0095 
104   European Commission. Gender Equality. 
https://ec.europa.eu/info/policies/justice-and-fundamental-rights/gender-equality_en
105   EWOB. European Women on Boards Gender Diversity Index. 2020. 
https://europeanwomenonboards.eu/wp-content/uploads/2021/01/EWoB-Gender-Diversity-Index-2020.pdf

75
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Table 18: Percentage of women in the board of directors, 2018-2020
Company
2018 (%)
2019  (%)
2020  (%)
Air France – KLM
41
41
41
easyJet
33
30
45
IAG
33
33
45
Lufthansa
35
35
35
Ryanair
33
40
40
SAS
50
45
36
TAP
17
17
27
Average, all companies
35
34
38
(Based on companies annual/sustainability reports, 2018-2020)
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76
CEO remuneration vs average employee salary
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Table 19: Average salaries vs CEO remuneration ratio, 2018-2020
Company
2018
2019 
2020 
Air France – KLM
13.035
23.51
29.44
easyJet
29.38
19.97
15.94
IAG
68.52
67.92
29.416
Lufthansa
66.36
72.57
94.19
Ryanair7
57.84
54.13
64.58
SAS
40.75
29.02
21.52
(Based on companies annual/sustainability reports, 2018-2020)
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Malpractice
Lufthansa’s total remuneration for its CEO is 73 times the average salary per employee in 2019, 
and increasing to 94 in 2020.
The remuneration of Carsten Spohr, company CEO, barely decreased by 2,4% between 2019 
and 2020, while the average salary per employee decreased by 24,8%.
5   Jean-Marc Janaillac (from 1 January to 15 May); Frédéric Gagey (from 15 May to 18 September); Benjamin Smith (from 18 September). Mr Gagey 
received no additional compensation for his temporary role as CEO.
6   Willie Walsh (until 8 September), Luis Gallego (from 8 September)
7   Average labour cost per employee, salaries not reported.

77
Other equality issues: age and inclusión of people with disabilities
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78
RESULTS BY AREA 
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79
6.3. Dividends and incentives
6.3.1 Why do dividends and incentives matter?
Dividend distribution in the context of the COVID crisis
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7DEOH1HWSURųWORVV(85ELOOLRQ
Company
2018
2019 
2020 
Air France-KLM
0.41 
0.29 
-7.1 
easyJet
0.4
0.39
-0.79
IAG
2.9
1.72
-6.92
Lufthansa
2.16 
1.21 
-6.73
Ryanair
0.89 
0.65 
-1.02 
SAS
0.16
0.06
-0.92
TAP
-0.12
-0.11
-1.42
Total, all companies
6.8
4.22
-24.9
(Based on companies annual/sustainability reports, 2018-2020)
106   Picker, L. Why Do Firms Pay Dividends?. National Bureau of Economic Research. February 2005.
https://www.nber.org/digest/feb05/why-do-ﬁrms-pay-dividends 
107   UNWTO. El turismo internacional sigue  adelantando a la economía global. 
https://www.unwto.org/es/el-turismo-mundial-consolida-su-crecimiento-en-2019

80
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6.3.2 Managers remuneration: inequality and performance issues
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108   Wigglesworth, R., Martin, K. & Darbyshire, M. How COVID sparked a dividend drought for investors. Financial Times. 10 September 2020. 
https://www.ft.com/content/2719966c-b228-4300-bdc0-dcbe2f7050fd 
109   Recommendation of the European Central Bank: on dividend distributions during the COVID-19 pandemic and repealing Recommen-
dation ECB/2020/35. ECB. 
https://www.bankingsupervision.europa.eu/ecb/pub/pdf/en_ecb_2020_62_f_sign~6a404d7d9c..pdf 
110   ECB decides not to extend dividend recommendation beyond September 2021. ECB. 23 July 2021. 
https://www.bankingsupervision.europa.eu/press/pr/date/2021/html/ssm.pr210723~7ef2cdf6b7.en.html
111   Bebchuk, L.  Executive Pay and the Financial Crisis. World Bank Blogs. 31 January 2012.
https://blogs.worldbank.org/allaboutﬁnance/executive-pay-and-the-ﬁnancial-crisis 
112   Directive (EU) 2017/828 of the European Parliament and of the Council. 17 May 2017. 
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32017L0828 
113   Agejas, M.J. Los altos ejecutivos del IBEX 35 cobran 123 veces el salario medio de sus plantillas. Oxfam Intermón. 25 October 2019.
 https://www.oxfamintermon.org/es/nota-de-prensa/impacto-empresas-ibex35-desigualdad

81
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6.3.4 Company results
 
Table 21: Dividends and incentives area results
Total Dividends and Incentives
Company
Dividends
Incentives
Total
TAP
50
30
40
EasyJet
50
46.67
48.33
Air France-KLM
66.67
50
58.33
IAG
66.67
80
73.33
Ryanair
100
70
85
SAS
100
70
85
Lufthansa
83.33
93.33
88.33
Average
73.81
62.86
68.33
114   Karananou, A. & Mooney, O. Integrating ESG Issues into Executive Pay. United Nations Global Compact. 2016. 
https://www.unpri.org/download?ac=1798 
115   Draft Report by Subgroup 4: Social Taxonomy. Platform on Sustainable Finance. July 2021. 
https://ec.europa.eu/info/sites/default/ﬁles/business_economy_euro/banking_and_ﬁnance/documents/sf-draft-report-social-taxonomy-july2021_en.pdf

82
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HUK]LYPM`JVTWSPHUJL^P[OJVYWVYH[LVIQLJ[P]LZ
)HZLKVU[OLHUHS`ZPZJHYYPLKV\[^P[OYLZWLJ[[V[OL`LHYZ[V3\M[OHUZHWVPU[Z9`HUHPY
HUK:(:HJOPL]L[OLOPNOLZ[ZJVYLZ^OPSL;(7HUKLHZ`1L[VI[HPU[OLSV^LZ[ZJVYLZ
6.3.4.1 Dividends
INDICATOR
Result
Number of companies
2018
2019
2020
Explains the dividend policy for the reference year
C
5
5
6
N.R
0
0
0
N.C    
2
2
1
N.A
0
0
0
Paid no dividends
C
4
5
6
N.R
0
0
0
N.C
3
2
1
N.A
0
0
0
*!*VTWSPHUJL![OLPUMVYTH[PVUVќLYLKI`[OLJVTWHU`TLL[Z[OLJVUKP[PVUZLZ[HISPZOLKI`[OLPUKPJH[VY
59!5V[YLWVY[LK![OLJVYWVYH[LKVJ\TLU[H[PVUMVY[OLYLMLYLUJL`LHYKVLZUV[PUJS\KL[OLPUMVYTH[PVUPU[OL[LYTZLZ[HISPZOLKI`
[OLPUKPJH[VY
5*!5VUJVTWSPHUJL![OLPUMVYTH[PVUWYV]PKLKI`[OLJVTWHU`KVLZUV[TLL[[OLJVUKP[PVUZLZ[HISPZOLKPU[OLPUKPJH[VY
5(!5V[HWWSPJHISL![OLPUKPJH[VYPZUV[HWWSPJHISLMVY[OLJVTWHU`PU[OLYLMLYLUJL`LHYHUKJVUZLX\LU[S`P[PZUV[JVUZPKLYLKMVY
[OLJVTWHU`»ZZJVYL

83
Dividend policy
(PYSPULZ»PUMVYTH[PVUVU[OLPYKP]PKLUKKPZ[YPI\[PVUWVSPJPLZIL[^LLUHUKPZ\Z\HSS`SPTP[LK[VH
NLULYHSKLZJYPW[PVUVM[OLÄUHUJPHSÄN\YLZ\ZLKHUKKP]PKLUKJVUKP[PVUZHZWHY[VMIHPSV\[HNYLLTLU[ZHZ
JHUILZLLUPU[OLMVSSV^PUN[HISL!
Table 22: Dividend policiesof the airlines analyzed
Air France-KLM
Air France mentions in its 2018, 2019 and 2020 Annual Reports that the company “distributed no 
GLYLGHQGVLQWKHODVWųQDQFLDO\HDUVŕ)RULWPHQWLRQVWKDWGLYLGHQGSD\PHQWVDUHUHVWULFWHG
as part of bailout agreements. Apart from these statements, no reference to the criteria used to 
distribute or not distribute dividends to shareholders was found in the corporate documentation.
easyJet
HDV\-HWKDVDGLYLGHQGSROLF\ŔRIDSD\RXWUDWLRRIRIKHDGOLQHSURųWDIWHUWD[ŕQRWUHFRP-
PHQGLQJGLYLGHQGGLVWULEXWLRQIRUWKHųVFDO\HDUHQGHGLQ6HSWHPEHUWREHSDLGIURP
2021).
IAG
IAG board considers several factors in determining annual dividend, including ”earnings of the 
Group, on-going cash requirements and prospects of the Group and its operating companies; 
OHYHOVRIGLVWULEXWDEOHUHVHUYHVE\RSHUDWLQJFRPSDQ\DQGHIųFLHQF\RIXSVWUHDPLQJRSWLRQVGL-
vidend coverage; and its intention to distribute regular returns to its shareholders in the medium 
and long-term” (IAG Annual Report 2018, p.49). Dividend payments were cancelled in 2020.
Lufthansa
Lufthansa Annual Report 2020, (p.24): "Before the coronavirus pandemic, the Lufthansa Group’s 
GLYLGHQGSROLF\ZDVWRGLVWULEXWHWRVKDUHKROGHUVWRRIQHWSURųWDGMXVWHGIRUQRQUH-
curring gains and losses. The crisis prompted the Annual General Meeting in 2020 to suspend 
the dividend for 2019”. Dividend payments were suspended as part of 2020 bailout agreements.
Ryanair
Ryanair Annual Report 2021, (p.104): “Since its incorporation as the holding company for Ryanair 
in 1996, Ryanair Holdings has only occasionally declared special dividends on both its Ordinary 
Shares and ADRs“. Ryanair's last dividend payment was in 2015.8
SAS
6$6 $QQXDO 5HSRUW  S Ŕ7KH *URXSŒV ųQDQFLDO SRVLWLRQ HDUQLQJV H[SHFWHG SHUIRU-
mance, investment requirements and relevant economic conditions should also be taken into 
account. The dividend should take into account any restrictions applying to the Group’s right to 
distribute dividends to shareholders. The dividend policy endeavors to achieve long-term sustai-
nable dividends”.
TAP
TAP is the only company that doesn’t provide any data on its dividend policy.
According to Portuguese media, TAP never paid dividends to shareholders.9
;OLKPZ[YPI\[PVUVMKP]PKLUKZPZ\Z\HSS`SPURLK[V[OLYLZ\S[ZHUKWYVZWLJ[ZVM[OLJVTWHU`[^VHZWLJ[Z
ZLYPV\ZS`[OYLH[LULKI`[OL*6=0+JYPZPZPU[OLJHZLVMHPYSPULZ)L`VUK[OLKP]PKLUKIHUJVUKP[PVUZLZ[H-
ISPZOLKI`NV]LYUTLU[IHPSV\[Z[OLJVU[L_[PZUV[Z\P[HISLMVYKP]PKLUKKPZ[YPI\[PVU0[PZ^VY[OJVU-
ZPKLYPUN[V^OH[L_[LU[[OLZLIHPSV\[JVUKP[PVUZ^PSSLUJV\YHNL[OLHKVW[PVUVMTVYL¸TVKLYH[L¹KP]PKLUK
WVSPJPLZPU[OLTLKP\THUKSVUN[LYT
8   Ryanair Group. Shareholder Returns. 
https://investor.ryanair.com/shareholders/dividend/ 
9   Suspiro, A. Pagar dividendos aos acionistas e prémios aos gestores. Um tema “controverso” na maior crise. Observador. 17 April 2020.
https://observador.pt/especiais/pagar-dividendos-aos-acionistas-e-premios-aos-gestores-um-tema-controverso-na-maior-crise/

84
               
Table 23: Dividend distribution (EUR million)
Company
2018
2019 
2020 
easyJet
182 
262.8 
190.7
IAG
577
1.308
0
Lufthansa
380
0
0
(Based on companies annual/sustainability reports, 2018-2020)
;OLKPZ[YPI\[PVUVMKP]PKLUKZ^HZUV[HJVTTVUWYHJ[PJLPU[OLHPYSPULZHUHS`ZLKIL[^LLUHUK
^P[OQ\Z[[OYLLJVTWHUPLZWH`PUNKP]PKLUKZPU[OPZWLYPVK6US`LHZ`1L[WHPKKP]PKLUKZPU HUK
^P[OH[V[HSHTV\U[VM,<9TPSSPVU;OLZLKP]PKLUKZYLWYLZLU[HOPNOWYVWVY[PVUVMWYVÄ[
HM[LY[H_LZPUHUK +LZWP[LSVZZLZPULHZ`1L[WHPK ,<9TPSSPVU
PUKP]PKLUKZ0(.YLJVYKZ[OLOPNOLZ[HTV\U[ZKPZ[YPI\[LKPUHUK ^OPSL3\M[OHUZHKPZ[YPI\[LK
KP]PKLUKZVUS`PU
Malpractice
The dividends paid by easyJet and IAG reveal an aggressive strategy to attract investment. The 
DPRXQWRIWKHVHGLYLGHQGVUHSUHVHQWVDVLJQLųFDQWSDUWRIWKHDQQXDOSURųWVRIERWKFRPSDQLHV
GLYLGHQGVSDLGLQUHSUHVHQWHGRI,$*ŒVSURųWDIWHUWD[HVDQGLQWKHFDVHRI
easyJet (which also distributed dividends in 2020 despite its negative net result).
The distribution of dividends may have been carried out at the expense of certain important bud-
gets in other areas, for example, in measures aimed at reducing the environmental impact (such 
DVŴHHWUHQHZDO'LYLGHQGSD\PHQWVPD\DOVRKDYHZHDNHQHGWKHDLUOLQHŒVųQDQFLDOSRVLWLRQVWR
face unforeseen events, as in the case of the COVID crisis.
IAG paid € 1.89 billion in dividends between 2018 and 2019. This is equivalent to 52.9% of the 
bailouts obtained by the Group in the context of the current crisis. In the case of easyJet, the € 
635.5 million paid between 2018 and 2020 represent 28.4% of the bailouts received.

85
6.3.4.2  Incentives
INDICATOR
Result
Number of companies
2018
2019
2020
Provides data on the remuneration of managers (apart from the board of 
directors)
C
5
5
5
N.R
1
1
1
N.C    
1
1
1
N.A
0
0
0
Did not increase the remuneration of managers (apart from  the board of 
directors) 
C
4
2
5
N.R
1
1
1
N.C
2
4
1
N.A
0
0
0
Reports on the amounts paid to each member of the board of directors
C
6
6
6
N.R
1
1
1
N.C
0
0
0
N.A  
0
0
0
Did not increase the total remuneration of the board of directors
C
4
5
6
N.R
0
0
0
N.C
3
2
1
N.A
0
0
0
Reports on the components and structure of the variable remuneration  
C
6
6
6
N.R
1
1
1
N.C    
0
0
0
N.A
0
0
0
Did not increase the total variable remuneration  
C
3
4
4
N.R
1
1
1
N.C    
3
2
2
N.A
0
0
0
Did not pay compensations/severances exceeding two years’ salary to 
senior executives
C
6
6
7
N.R
1
1
0
N.C    
0
0
0
N.A
0
0
0
There are senior executives with a % of variable remuneration depending on 
ESG objectives 
C
2
5
5
N.R
4
1
1
N.C    
1
1
0
N.A
0
0
1
There are directors with a % variable remuneration depending on targets 
VSHFLųFDOO\UHODWHGWRFOLPDWHFKDQJH
C
1
5
5
N.R
4
1
1
N.C
2
1
0
N.A
0
0
1
6SHFLųHVFRQGLWLRQVDQGOHYHOVRIFRPSOLDQFHZLWKFOLPDWHFKDQJHVSHFLųF
targets
C
0
1
1
N.R
7
6
4
N.C
0
0
1
N.A
0
0
1
*!*VTWSPHUJL![OLPUMVYTH[PVUVќLYLKI`[OLJVTWHU`TLL[Z[OLJVUKP[PVUZLZ[HISPZOLKI`[OLPUKPJH[VY
59!5V[YLWVY[LK![OLJVYWVYH[LKVJ\TLU[H[PVUMVY[OLYLMLYLUJL`LHYKVLZUV[PUJS\KL[OLPUMVYTH[PVUPU[OL[LYTZLZ[HISPZOLKI`[OLPUKPJH[VY
5*!5VUJVTWSPHUJL![OLPUMVYTH[PVUWYV]PKLKI`[OLJVTWHU`KVLZUV[TLL[[OLJVUKP[PVUZLZ[HISPZOLKPU[OLPUKPJH[VY
5(!5V[HWWSPJHISL![OLPUKPJH[VYPZUV[HWWSPJHISLMVY[OLJVTWHU`PU[OLYLMLYLUJL`LHYHUKJVUZLX\LU[S`P[PZUV[JVUZPKLYLK
MVY[OLJVTWHU`»ZZJVYL

86
Total remuneration of senior managers
(SS[OLHPYSPULZHUHS`ZLK^P[O[OLL_JLW[PVUVM;(7YLWVY[[OLHTV\U[ZWHPK[VLHJOTLTILYVM[OLIVHYK
VMKPYLJ[VYZ^P[O]HY`PUNKLNYLLZVMIYLHRKV^UHIV\[YLT\ULYH[PVUJVTWVULU[Z
;OLYLPZUV[HISLKP]LYZP[`PU[OLKLÄUP[PVUVMJVYWVYH[LNV]LYUHUJLIVKPLZ!ZVTLJVTWHUPLZOH]LIVHYKZ
VMKPYLJ[VYZ[OH[PUJS\KLL_LJ\[P]LKPYLJ[VYZZ\JOHZ(PY-YHUJL"^OPSLPUV[OLYZZ\JOHZ:(:TLTILYZVM
[OLIVHYKHYLUV[JVUZPKLYLKL_LJ\[P]LZ^P[O[OPZKLZPNUH[PVUYLZLY]LKMVYTLTILYZVM[OLTHUHNLTLU[
JVTTP[[LLVYLX\P]HSLU[IVK`0U[OLHPYSPULZ[OH[VќLYPUMVYTH[PVUVUYLT\ULYH[PVUVMZLUPVYTHUHNLYZ
HSSL_JLW[;(7[OLL_LJ\[P]LTHUHNLYZHYL[OLVUS`VULZ^OVHYLHZZPNULK]HYPHISLWLYMVYTHUJLIHZLK
YLT\ULYH[PVUJVUJLW[ZIL`VUK[OVZLYLSH[LK[VILULÄ[ZZ\JOHZ\ZLVMJVTWHU`]LOPJSLZH[[LUKHUJLH[
TLL[PUNZVYTLTILYZOPWVMJVTTP[[LLZ0UNLULYHSL_LJ\[P]LTHUHNLYZPUJS\KPUN*,6Z^OL[OLYVYUV[
[OL`MVYTWHY[VM[OLIVHYKVMKPYLJ[VYZHJJV\U[MVY[OLTHQVYP[`VM[OLYLT\ULYH[PVU^OPSLUVUL_LJ\[P]L
KPYLJ[VYZVYTHUHNLYZ^P[OHK]PZVY`M\UJ[PVUZHJJV\U[MVYHZTHSSWHY[VM[OLYLT\ULYH[PVU
>P[O[OLL_JLW[PVUVM(PY-YHUJL234HUKLHZ`1L[HSS[OLHPYSPULZHUHS`aLKYLWVY[[OLYLT\ULYH[PVUVMNV]LYUPUN
IVKPLZV[OLY[OHU[OLIVHYKVMKPYLJ[VYZYLWVY[LKI`HSS0UVYKLY[VZ[HUKHYKPaL[OLKH[HIHZLKVU[OLHMVYL-
TLU[PVULKOL[LYVNLULP[`VMJVYWVYH[LNV]LYUHUJLZ[Y\J[\YLZ[OLKH[HVUYLT\ULYH[PVUPUJS\KLZL_LJ\[P]LHUK
UVUL_LJ\[P]LTHUHNLYZYLNHYKSLZZVM[OLUHTLVM[OLNV]LYUPUNIVK`PU^OPJO[OL`WLYMVYT[OLPYK\[PLZ
;OLJVTWHYHIPSP[`VM[OLKH[H[HRPUNPU[VHJJV\U[[OLKPќLYLU[JVTWVZP[PVUVM[OLJVYWVYH[LNV]LYUHUJL
Z[Y\J[\YLZHUK[OLKP]LYZP[`PU[OLZJVWLVM[OLPUMVYTH[PVUYLWVY[LKZOV\SKIL[YLH[LK^P[OJH\[PVU;OL
[V[HSYLT\ULYH[PVUYLÅLJ[LKPU[OLMVSSV^PUN[HISLPUJS\KLZVUS`[OLPUMVYTH[PVUYLWVY[LKI`[OLJVTWHUPLZ
H[[OLNYV\WSL]LSOV^L]LYP[ZOV\SKILJVUZPKLYLK[OH[ZHPKPUMVYTH[PVUKVLZUV[PUJS\KL[OL[V[HSYLT\UL-
YH[PVUWHPK[V[OLL_LJ\[P]LZVM[OLKPќLYLU[HPYSPULZ[OH[HYLWHY[VM[OLZLNYV\WZ0U[OPZZLUZL234YLWVY[Z
YLT\ULYH[PVU[VP[ZV^UTHUHNLTLU[MVYHTV\U[ZZPTPSHY[V[OVZLVM[OL.YV\WHZH^OVSLPUMVYTH[PVU[OH[
PZUV[PUJS\KLKPU[OLHUU\HS(PY-YHUJL234<UP]LYZHS9LNPZ[YH[PVU+VJ\TLU[Z1160U[OLJHZLVM0(.[OL
YLWVY[H[[OLNYV\WSL]LSYLÅLJ[Z[OLYLT\ULYH[PVUVM[OL*,6ZVM[OLKPќLYLU[HPYSPULZHZWHY[VM[OLPY4HUH-
NLTLU[*VTTP[[LLI\[KVLZUV[WYV]PKLZWLJPÄJPUMVYTH[PVUVU[OLHTV\U[ZJOHYNLKI`[OLYLZ[VM[OL
L_LJ\[P]LZVM[OLZLHPYSPULZ0UZ\TTHY`[OLPUMVYTH[PVUYLWVY[LKI`JVTWHUPLZTH`OH]LHKPќLYLU[UH[\YL
KLWLUKPUNVU[OLPYNV]LYUHUJLZ[Y\J[\YLZSL]LSZVM[YHUZWHYLUJ`HUKSLNPZSH[P]LMYHTL^VYRZVMYLMLYLUJL
 
 
 
 
116   KLM Dutch Airlines. Annual Report 2019. 
https://www.klm.com/travel/nl_nl/images/KLM-Jaarverslag-2019_tcm541-1063986.pdf

87
 
Table 24: Total remuneration paid to senior managers (EUR)
Company
2018
2019 
2020 
Air France-KLM10
2,343,000
2,622,000
2,705,000
easyJet11
14,425,000
10,631,000
6,724,000 
IAG12
22,000,000
21,000,000
8,000,000
Lufthansa13
18,310,000 
16,970,000
11,590,000
Ryanair14
16,800,000
15,500,000
9,300,000
SAS15
5,413,000
6,015,000
3,809,000
TAP16
2,467,000
2,490,000
2,187,000
Total, all companies
81,758,000
75,228,000
44,315,000
(Based on companies annual/sustainability reports, 2018-2020)
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PU([[OLVWWVZP[LL_[YLTL;(7HUK(PY-YHUJL234117YLWVY[LK[OLSV^LZ[YLT\ULYH[PVUHS[OV\NO
[OL-YLUJO.YV\WPZ[OLVUS`VUL[OH[PUJYLHZLK[OLYLT\ULYH[PVUVMP[ZZLUPVYTHUHNLYZPU6]LYHSS
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JYLHZLKI`IL[^LLUHUK 
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KPYLJ[VYZHUKPUWHY[PJ\SHY[OLÄN\YLVM[OL*,6-VYL_HTWSL[OL[V[HSWHPK[V>PSSPL>HSZOPU I`
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[OLHTV\U[ZWHPKPU[V[OL.YV\WZLUPVYTHUHNLTLU[:L]LYHUJLHNYLLTLU[Z^P[OZLUPVYTHUHNLYZ
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10   Air France-KLM Board of Directors + CEO remuneration
11   easyJet Board of Directors + Arline Management Board remunerations
12   IAG Board of Directors + Management Committee remunerations
13   Lufthansa Executive Board + Supervisory Board remunerations
14   Ryanair Board of Directors + Executive Board remunerations
15   SAS Board of Directors + “senior executives” remunerations
16   TAPBoard of Directors + Supervisory Board remunerations
117   As noted in previous footnotes, Air France-KLM reports only on CEO +BOD remunerations, while other companies also report on other executive or advisory boards.

88
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Table 25: Incentives paid to senior managers (EUR)
Company
2018
2019 
2020 
Air France-KLM
573,000
367,000
768,000
easyJet
1,707,000 
1,225,000 
0
IAG
3,225,000 
3,398,000
0
Lufthansa
7,756,000 
9,923,000
1,058,000
Ryanair17
2,327,000
2,967,000
2,315,000
SAS
0
184,000 
0
TAP
Not reported
Not reported
Not reported
Total, all companies
15,588,000
18,064,000
4,141,000
(Based on companies annual/sustainability reports, 2018-2020)
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118   Ryanair’s ﬁscal year ends on 31 March.
17   Bonus + share-based compensation

89
Bonus and incentives with ESG criteria
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Table 26: ESG criteria on variable remuneration schemes
Company
ESG criteria on variable remuneration
Air France-KLM
In 2018, the CEO’s long-term incentive plan takes into account general sustainability issues, as 
shown by the company position on DJSI (15%) or “Environmental commitments and CSR perfor-
mance targets” (15%) (Air France Universal Registration Document 2017, p.54). There is no data 
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ce targets (20%), such as CO2 reductions and increasing the female presence on the Group 
Board of Directors (Air France Universal Registration Document 2018, p.113; and 2019, p.115) . 
Despite improved information about CSR goals, target setting generally still lacks time-bound and 
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compliance levels.
easyJet
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of service, without including ESG criteria, with the exception of the Annual Report 2020, in 
which the company declares that “Climate change-related personal targets were agreed to 
form part of the remuneration package for all members of the Airline Management Board for 
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neither are the levels of compliance achieved by managers.
IAG
ESG criteria are mentioned as part of the CEO’s annual incentives in 2019 & 2020, but there is 
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tioned. In 2020 the annual incentive plan was cancelled. It should include “a CO2 emissions 
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Lufthansa
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remuneration. In 2018, 30% of the multiplication factor of the short-term incentive is determined 
based on the reduction of CO2 emissions (Annual Report 2018, p. 88).  In 2019 and 2020 new 
ESG criteria were included, and information about conditions and compliance improved.
Ryanair
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the CEO and other senior managers is determined based on a set of criteria that include envi-
ronmental targets, but does not specify what targets are, their relative weight or the compliance 
level achieved.
SAS
According to SAS’s Annual Report 2019, p. 57: “Less than 30% of the variable cash remune-
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compliance on climate change related targets.
TAP
Doesn’t provide information on this issue
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90
RESULTS BY AREA 
3VII`PUN

91
6.4. Lobbying
6.4.1 Lobbying: conceptual framework
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119   Lobbying Deﬁnition. Transparency International.  
https://www.transparency.org/en/corruptionary/lobbying 
120   Preventing Policy Capture: Integrity in Public Decision Making. OECD Public Governance Review. 2017. 
https://read.oecd-ilibrary.org/governance/preventing-policy-capture_9789264065239-en#page10 
121   Revolving Doors in the EU and US. European Parliament. July 2018. 
https://www.europarl.europa.eu/cmsdata/216441/EPRS_BRI(2018)625105_EN_revolving_doors.pdf
122   Lobbying in the 21st Century: Transparency, Integrity and Access. OECD Council. 21 April 2021.
 https://one.oecd.org/document/C(2021)74/en/pdf

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123   Berg, J. & Freund, D. EU LEGISLATIVE FOOTPRINT: What’s the real inﬂuence of lobbying?. Transparency International EU. 2015. 
https://transparency.eu/wp-content/uploads/2016/09/Transparency-05-small-text-web-1.pdf 
124   Berg, J. & Freund, D. EU Legislative footprint: What’s the real inﬂuence of lobbying?. Transparency International EU. 2015. 
https://transparency.eu/wp-content/uploads/2016/09/Transparency-05-small-text-web-1.pdf 
125   Transparency Register. 18 September 2021. 
https://ec.europa.eu/transparencyregister/public/homePage.do?redir=%20false%20&%20locale%20=%20en 
126   Lobby Planet: Tu guía al turbio mundo de lobby en Bruselas. Corporate Europe Observatory &  Observatorio de Multinacionales en América 
Latina y Ecologistas en Acción. May 2018.
https://corporateeurope.org/sites/default/ﬁles/2019-05/informe-lobby-planet.pdf

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127   Lobby Meetings with EU Policy-Makers Dominated by Corporate Interests. Transparency International. 24 June 2015. 
https://www.transparency.org/en/press/lobby-meetings-with-eu-policy-makers-dominated-by-corporate-interests  
128   Cann, V. Business lobbies offered privileged access to secretive EU Council group. 15 July 2021. 
https://socialeurope.eu/business-lobbies-offered-privileged-access-to-secretive-eu-council-group 
129   Lobbying in the 21st Century: Transparency, Integrity and Access. OECD Council. 21 April 2021. 
https://one.oecd.org/document/C(2021)74/en/pdf 
130   ibid. 
131   European Ombudsman. Ombudsman asks EU institutions to ensure transparency of EU COVID-19 response. 14 September 2021. 
https://www.ombudsman.europa.eu/es/news-document/en/127058

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*VYWVYH[L,\YVWLZ[H[LZ[OH[PU[OPZZP[\H[PVU¸[OL,<»Z;YHUZWHYLUJ`9LNPZ[LYPZULHYS`\ZLSLZZHZJVTWH-
UPLZKVU»[OH]L[V\WKH[L[OLPYSVII`PUNKPZJSVZ\YLZ\U[PSSVUNHM[LY[OLSVII`PUNOHWWLUZ;OPZTLHUZ[OH[
VUS`PUVULVY[^V`LHYZ^PSS^LNL[[VZLL[OLPYSVII`I\KNL[ZHUKOV^[OL`PUJYLHZLKVYKLJYLHZLKK\YPUN
[OLWHUKLTPJ(UKL]LU[OH[YLTHPUZHZLSMKLJSHYH[PVU¹
6.4.2 The airlines lobby in Brussels: 
Table 27: Main actors of the airlines lobby in the EU
Company
Last reported lobbying 
FRVWVųQDQFLDO\HDU
Lobbyist declared 
Meetings with EU 
RIųFLDOV
(2014-2021) 
Business Europe
4,000,000€ - 4,249,999€, 2020
30
325
IATA
900,000€ - 999,999€, 2019 
4
53
A4E
1,000,000€ - 1,249,999€, 2020 
9
51
A4D
<9,999€, 2020 
1
0
ACP
100,000€ - 199,999€, 2020 
2
1
Business Europe 
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PU[OLMVYTVMWVSS\[PVUWLYTP[ZHZWVZZPISL¹
132   Corporate Europe Observatory. Opportunistic lobbyists abuse the EU’s unprecedented health crisis. 1 May 2020. 
https://corporateeurope.org/en/2020/05/corona-lobby-watch 
133   Corporate Europe Observatory. Brussels’ most powerful lobbyist? Step forward Business Europe. 27 November 2017.  
https://corporateeurope.org/en/power-lobbies/2017/11/brussels-most-powerful-lobbyist-step-forward-businesseurope

95
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International Air Transport Association (IATA)
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LU]PYVUTLU[HSYLN\SH[PVUVY[OLYLWVY[PUNVMUVUÄUHUJPHSPUMVYTH[PVU
134   Business Europe. Publications. 
https://www.businesseurope.eu/publications/european-business-%20views-competitive-energy-climate-strategy
135   Transparency Register. International Air Transport Association. 
https://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=1805107590-28 
136   I  ATA. IATA Members. 
https://www.iata.org/en/about/members/
137   IATA. Strategic Partnerships. 
https://www.iata.org/en/about/sp/ 
138   Hagagy, A. Aviation industry to counter ﬂight shaming movement: IATA chief. Reuters. 5 November 2019. 
https://www.reuters.com/article/us-airlines-environment-iata-idUSKBN1XF1HE 
139   IATA. DG biography & photos. 
https://www.iata.org/en/pressroom/dg-biography/ 
140   IATA. IATA DG to Step Down. 
https://www.iata.org/en/pressroom/pr/2020-11-23-04/  
141   IATA. Industry Areas of Involvement for Strategic Partners. 
https://www.iata.org/en/about/sp/areas/

96
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Airlines for Europe (A4E)
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142   IATA. Working Towards Ambitious Targets. 
https://www.iata.org/en/programs/environment/climate-change/ 
143   Graver, B. Glass half full: An invitation for IATA to update climate goals. The International Council on Clean Transportation (ICCT). 6 April 2021. 
https://theicct.org/blog/staff/iata-update-apr2021 
144   Lobby Planet. Bruselas: El Barrio Europeo. Corporate Europe Observatory. 
https://corporateeurope.org/sites/default/ﬁles/lobby_planet_es.pdf 
 145  IATA. Pressroom 2018. 
https://www.iata.org/en/pressroom/2008-releases%20/%202008-10-24-02%20/ 
146   IATA. Environmental Taxes. 
https://www.iata.org/contentassets/a72d8d3cfaf84529bcdef6b2dc59f224/environmental_tax_update.pdf 
147   IATA. Taxation. 
https://www.iata.org/en/policy/taxation/ 
148   Airlines for Europe. Our Members. 
https://a4e.eu/about-us/our-members/ 
149   Transparency Register. Airlines for Europe. 20 July 2021. 
https://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=807912421050-91

97
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Airlines for Dialogue (A4D), Airlines Coordination Platform (ACP)
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150   Inﬂuence Map. Airlines for Europe. 
https://inﬂuencemap.org/inﬂuencer/Airlines-For-Europe-A4E-70ed0c4d8d3f9249e0c3e37d135a8770 
151   Airlines for Europe. Taxes. 
https://a4e.eu/policies/taxes/
152   Airlines for Europe. Input on Public Consultation Updating the EU Emissions Trading System (ETS). 30 March 2021. 
https://a4e.eu/publications/a4e-input-on-public-consultation-updating-the-eu-emissions-trading-system-ets/ 
153   Hodgson, C., Georgiadis, P. & Khan, M. European airlines step up lobbying against EU climate rules. Financial Times. 10 June 2021.
https://www.ft.com/content/7ac043eb-364b-43c3-bc32-9a90add1ab20 
154   Airlines for Europe. Single European Sky Regulation must be agreed before additional decarbonisation costs imposed on airlines. 10 June 2021. 
https://a4e.eu/publications/single-european-sky-regulation-must-be-agreed-before-additional-decarbonisation-costs-imposed-on-airlines/ 
155   Janzen, J. European Governments Must Act Now to Reduce COVID-19 Impact on Aviation. Airlines for Europe. 12 March 2020.
 https://a4e.eu/publications/european-governments-must-act-now-to-reduce-COVID-19-impact-on-aviation/ 
155   Transparency Register. Airline 4 Dialogue. 
https://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=532375942808-38 
156   Transparency Register. Airline Coordinator Platform. 
 https://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=224920726807-48

98
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European Regions Airline Association (ERA)
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6.4.3 European airlines and climate lobbying
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157   Transparency Register. Airline Coordinator Platform.  
https://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=224920726807-48 
158   Inﬂuence Map. Airline Coordination Platform (ACP). 
https://inﬂuencemap.org/inﬂuencer/ACP-335f29490f01e6cae908f468f22733c0 
159   Transparency Register. ERA. 
https://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=73491621553-11
160   Transparency Register. ERA. 
https://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=73491621553-11
161   ERA, Our members, 2021
https://www.eraa.org/membership/our-members
162   ERA, Policies: sustainable aviation. 2021.
https://www.eraa.org/policy/sustainable-aviation
163   ERA, Regional-International, July-August 2021, p.5  
https://cloud.3dissue.net/9237/9242/9271/37010/?page=5
164   Lobby Planet. A Guide to Corporate COP21 Info on key climate criminals Maps of lobbying hotspots Section on COP21 Sponsors. 
https://corporateeurope.org/sites/default/ﬁles/attachments/lobbyguide_en_small.pdf

99
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
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165   Frost, L. & Abnett, K. Coronavirus redraws battle lines on airline emissions. Reuters. 24 March 2020. 
https://www.reuters.com/article/us-health-coronavirus-%20airlines-climatech%20/%20coronavirus-redraws-battle-lines-on-airline-emissions-idUSKBN21B1RQ 
166   Baratt, L. Documents reveal airline industry plan for tax breaks, subsidies and voucher refunds. 7 April 2020. 
https://unearthed.greenpeace.org/2020/04/07/coronavirus-airlines-lobby-for-tax-breaks-subsidies-vouchers-passenger-refunds/ 
167   Corporate Europe Observatory. Opportunistic lobbyists abuse the EU’s unprecedented health crisis. 1 May 2020. 
https://corporateeurope.org/en/2020/05/corona-lobby-watch 
168   Inﬂuence Map. The Aviation Industry and European Climate Policy. Report June 2021. 
https://inﬂuencemap.org/report/Aviation-Industry-Lobbying-European-Climate-Policy-131378131d9503b4d32b365e54756351

100
6.4.4 Company results
Table 28: Lobbying area results
Total Lobbying
Company
Lobbying Activity
Lobbying Ethics 
Total
TAP
12.12
11.11
11.82
SAS
27.27
25
26.59
Ryanair
42.42
14.81
29.7
Lufthansa
51.52
11.11
39.39
IAG
51.52
25
43.56
easyJet
54.55
37.5
49.43
Air France-KLM
72.73
25
58.41
Average
44.59
21.36
36.99
 
Figure 5: Companies’ results average. lobbying area

101
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102
6.4.4.1 Lobbying activity
INDICATOR
Result
Number of companies
2018
2019
2020
Reports on associations who represent its business interests 
C
6
7
7
N.R
1
0
0
N.C    
0
0
0
N.A
0
0
0
Reports on the amount of contributions to these entities
C
1
1
1
N.R
6
6
6
N.C
0
0
0
N.A
0
0
0
Provides disaggregated data (contributions for each organisation)
C
0
0
0
N.R
7
7
7
N.C
0
0
0
N.A  
0
0
0
Is registered in the EU Transparency Register
C
5
6
6
N.R
0
0
0
N.C
2
1
1
N.A
0
0
0
Reports presence in other Transparency Registers   
C
1
1
1
N.R
6
6
6
N.C    
0
0
0
N.A
0
0
0
Reports about the subjects of its lobbying activity 
C
6
5
6
N.R
1
2
0
N.C    
0
0
0
N.A
0
0
0
Reports on climate lobbying  
C
5
5
6
N.R
2
2
1
N.C    
0
0
0
N.A
0
0
0
Reports on labour regulation lobbying
C
1
0
0
N.R
4
7
5
N.C    
2
0
2
N.A
0
0
0
Reports on public aid/bailout lobbying 
C
0
0
1
N.R
7
7
4
N.C
0
0
2
N.A
0
0
0
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C
5
4
4
N.R
1
3
3
N.C
1
0
0
N.A
0
0
0
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C
5
5
3
N.R
2
2
4
N.C
0
0
0
N.A
0
0
0

103
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Industry coalitions and associations membership and contributions
Table 29: Industry coalitions membership
Company
IATA
A4E 
A4D
ACP
Air France-KLM
X
X
X
easyJet
X
X
IAG
X
X
X
Lufthansa
X
X
X
Ryanair
X
X
SAS
X
TAP
X
X
X
(Based on EU Transparency Register)
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¸;OLTHQVYP[`VM[OLZLJVZ[ZYLSH[L[VTLTILYZOPWZVMUH[PVUHSHUKPU[LYUH[PVUHS[YHKLHZZVJPH[PVUZ
(TPUVYWHY[PZZWLU[MVY[OLZLY]PJLZVMJVUZ\S[HUJPLZ¹169
Practice that can be 
improved
Air France KLM is the only company that provides data (beyond the Transparency Register) 
on its investment in lobbying activities. This investment practically doubled between 2018 
and 2020 (from 1.64 to 3.27 EUR million) 
 
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1RQHRIWKHDLUOLQHVDQDO\VHGVSHFLųHVWKHDPRXQWRIFRQWULEXWLRQVWRHDFKRIWKHVHFWRU
organisations to which they belong. 
169   AirFrance-KLM. Public Positions. Sustainable Development Strategy 2020 Report. 2020. 
https://sustainabilityreport2020.airfranceklm.com/en/english-public-positions/

104
Presence and data on transparency registers
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https://www.iata.org/en/about/members/fees/
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Company
Latest reported lobbying 
FRVWVųQDQFLDO\HDU
Number of lobbyists 
declared 
Meetings with EU 
RIųFLDOV
Air France-KLM
800,000-899,999 EUR (2020) 
5
8
easyJet
100,000-199,999 EUR (2020)
4
8
IAG
200,000-299,999 EUR (2019)
5
4
Lufthansa
700,000-799,999 EUR 2020
5
13
Ryanair
200,000-299,999 EUR (2021)
2
8
SAS
-
-
-
TAP
< 9,999 EUR (2020)
1
2
Total, all companies 
(average)
About 2,25 € million
22
36.99
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105
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OHZILJVTLHWV^LYM\SPUÅ\LUJLVU,\YVWLHUWVSPJ`THRPUN
Lobbying activity around climate change
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JVUZ\S[H[PVUWYVJLZZLZHUKYVHKTHWZYLSH[LK[VJSPTH[LYLN\SH[PVU
Table 31: Participation in public consultation processes and roadmaps related to climate regulation
Company
Revision of the EU 
ETS Directive 
ReFuelEU 
Aviation18
Revision of the 
Renewable Energy 
Directive
Revision of 
Energy Tax 
Directive
Air France-KLM
X
X
X
easyJet
X
IAG
X
Lufthansa
X
X
X
Ryanair
X
X
X
TAP
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18   European Commission regulatory initiative aimed to boost the supply and demand for sustainable aviation fuels in the EU.
EC:  Sustainable aviation fuels – ReFuelEU Aviation
https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/12303-Sustainable-aviation-fuels-ReFuelEU-Aviation_en

106
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Table 32: Companies and industry associations positions on climate regulation
IATA
A4E 
Air 
France-
KLM
easyJet
IAG
Lufthansa
Ryanair
SAS
TAP
Supports 
CORSIA
YES
YES
YES
YES
YES
YES
YES
YES
Unknown
Supports 
EU-ETS
NO
NO
NO
Partial
NO
Partial
Unknown
Unknown
Unknown
Supports 
national 
taxes
NO
NO
NO
NO
NO
NO
NO
NO
Unknown
(Based on companies annual reports/sustainability reports (2018-2020) and public external sources)
CORSIA vs EU-ETS
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Commission website,170¸[OLSLNPZSH[P]LMYHTL^VYRVM[OL,<,;:MVYWOHZL^HZYL]PZLKPU[VLUZ\YL
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3\M[OHUZHLHZ`1L[HUKZ\WWVY[PUN*69:0(HZ[OLVUS`M\[\YLZJOLTL0(.:(:(PY-YHUJL9`HUHPYHUK
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PUK\Z[Y`HZZVJPH[PVUZP[JHUILHZZ\TLK[OH[[OL`HSZVZ\WWVY[[OLWYL]HSLUJLVM*69:0(V]LY,<,;:
170   EC, Climate Action: EU-ETS Revision for phase 4 (2021-2030)
https://ec.europa.eu/clima/eu-action/eu-emissions-trading-system-eu-ets/revision-phase-4-2021-2030_es

107
Table 33: Companies position on Corsia/EU-ETS
Company
Position
Air France-KLM
“The Group expects CORSIA to be the only measure applicable to emissions from international 
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easyJet
“easyJet was an early advocate for aviation being part of the EU ETS”   (Annual Report 2018, 
p.44)
“The new global framework for managing aviation carbon through offsetting is the Carbon Off-
setting and Reduction Scheme for International Aviation (CORSIA).” (Annual Report 2020, p.47)
IAG
IAG Annual Report 2018 (p.57) states that the company is “allocating resources to collaborate 
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pricing solution for aviation: CORSIA”
Lufthansa
Annual Report 2020 (p.95) states “The European Emissions Trading Scheme is currently being 
revised, and the Lufthansa Group is also involved in this process. The project aims to harmoni-
se CORSIA and EU ETS in order to avoid double regulation”
Ryanair
Ryanair Annual Report 2021 (p.12) mentions that the company “continues to work actively with 
the European Commission and fuel manufacturers to incentivize sustainable aviation fuel use. 
We are working with A4E and the EU Commission to accelerate reform of the Single European 
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CO emissions”.
SAS
Sustainability Report 2018 (p.15) mentions that the aviation industry “pays for its carbon emis-
sions within the EU through the European Union Emission Trading Scheme (EU/ETS), which 
is an established market-based measure. SAS has supported the development of a global, 
market-based solution for airline emissions for many years”.
4HSWYHJ[PJL
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mentions that European airlines are “actively lobbying UK and EU Governments on the issue that CORSIA 
should replace the inclusion of aviation EU Emissions Trading System (ETS)”.
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EU climate policies, especially since the start of the COVID-19 crisis. The airlines lobby is also pressing for 
subsidies for the incorporation of new technologies or the relaxation of environmental regulation in various 
areas, including opposition to the inclusion of biofuels quotas.
National aviation taxes 
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108
Table 34: Companies position on national aviation taxes
Company
Position
Air France-KLM
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The Group regrets that such additional taxation will not serve the environmental transition of the sector 
through a contribution to a Sustainable Aviation Fuel fund.” (CSR Report 2019)
About Dutch tax: “with the COVID-19 crisis further impacting the liquidity of airlines and investments fore-
seen to make the sector more sustainable, the introduction of the Dutch ticket tax is questionable.” (CSR 
Report, 2020).
“Air France-KLM is in favor of more sustainable aviation, but the Group is against a national air passenger 
tax that does not help the environment.” (CSR Report, 2018)
SAS
Annual Report 2019, (p.57): “Sweden and Norway have both introduced excise taxes on air travel. While 
the taxes are called environmental taxes, they have no connection with emissions or any climate protection 
measures. Emission-linked taxes or regulations are also being discussed in Denmark. National aviation 
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agreements at a global level and can affect future investment possibilities for areas including biofuel”.
Sustainable Aviation Fuels promotion and other voluntary measures 
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109
Table 35: Companies position on SAFs
Company
Position
Air France-KLM
“Sustainable Aviation Fuels (SAFs) are a key lever for decarbonising aviation in the short and medium term 
as they emit up to 80% less CO than regular kerosene. Air France-KLM calls for a predictable, coherent 
and long-term EU framework to be put in place, in particular in the context of the European Commission’s 
RefuelEU proposal, in order to support the ramp-up of affordable SAF supply in Europe”.
“SAF production must have a minimal impact on biodiversity, not compete with food production or access 
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impact on local development, and lead to a minimum CO reduction of 75%. Unfortunately, the price of 
SAFs is still six to eight times more expensive than regular kerosene, depending on the price of oil and the 
type of SAFs considered. It is crucial to close this price gap, not only by upscaling production, but also by 
using EU funds, e.g. from the EU ETS revenues through the EU ETS Innovation Fund, or through national 
plans and the 750 billion euro NextGenerationEU recovery fund.” (CSR Report 2020)
easyJet
“We do not see SAFs as a long-term decarbonisation solution for short-haul aviation, since current pa-
thways are not zero carbon and total projected emissions savings remain limited. In the long term they are 
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PHQWRIJHQXLQH]HURHPLVVLRQVWHFKQRORJLHVIRUVKRUWKDXOVXFKDVHOHFWULFRUK\GURJHQSRZHUHGŴLJKWŕ
(Annual Report 2020, p.47)
Ryanair
Annual Report 2021, p. 48: “Through our leadership role in Airlines for Europe (A4E) we are actively encou-
raging governments to support industry investment in SAF through incentives, and work with the energy 
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SAS
Supports SAFs with conditions: availability, competitive price and sustainability criteria. 
Concerning availability and price, the company mentions that it is involved in “projects and forums to develop 
biofuel production” (SAS Sustainability Report 2018, p.13). According to its Annual Report 2020, p.9: 
“SAS has continued the work with multiple stakeholders to accelerate the commercialization of Sustainable 
Aviation Fuels, such as biofuel”. Despite considering that SAFs are a strategic element in the development of 
its sustainability strategy, it considers that supply is still limited, and prices are high. As set out in its Annual 
Report 2020 (p.124): “SAS continues to ask for SAF quotes in all jet-fuel tenders in order to indicate that we 
are prepared to purchase biofuel if the sustainability criteria are in place and the price is competitive” 
Concerning sustainability, the company mentions that biofuel production should be “sustainable in the long-
term, does not compete with food production or access to potable water, does not harm biodiversity and 
uses as little land area as possible” (SAS Annual Report 2020, p. 124). Despite this consideration, one of the 
main biofuel suppliers of the company is Neste19, a Finnish company which is producing in Singapore and is 
member20 of RSPO (Roundtable of Sustainable Palm Oil), a palm oil industry lobby. The cultivation of palm oil 
has been widely questioned for its impact on deforestation and loss of biodiversity in developing countries21.
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9VHKTHWWYVWVZHSZMVJ\ZTHPUS`VU]VS\U[HY`TLHZ\YLZHUKW\ISPJZLJ[VYZ\WWVY[^P[OHUHTIP]H-
SLU[Z[HUJLVUYLN\SH[PVUIL`VUKNLULYHSZ\WWVY[[V*69:0(
19   Neste, Neste and Boston Consulting Group announce new sustainable aviation fuel partnership to reduce the climate impact of business air travel,2021:
 https://www.neste.com/releases-and-news/aviation/neste-and-boston-consulting-group-announce-new-sustainable-aviation-fuel-partnership-reduce-climate 
20   RSPO: Neste Oyj (Neste Corporation)  proﬁle:
 https://rspo.org/members/100/Neste-Oyj-Neste-Corporation 
21   Greenpeace: 5 problems with sustainable palm oil, 2019:
https://www.greenpeace.org/aotearoa/story/5-problems-with-sustainable-palm-oil/ 
 
171   The European Aviation Sector’s Climate Mission. Destination 2050. 
https://www.destination2050.eu/commitments/

110
6.4.4.2 Lobbying ethics
INDICATOR
Result
Number of companies
2018
2019
2020
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function
C
0
0
1
N.R
5
5
4
N.C    
2
2
2
N.A
0
0
0
Bans contributions to political parties and their candidates 
C
4
4
4
N.R
3
3
2
N.C
0
0
1
N.A
0
0
0
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C
1
1
1
N.R
3
3
3
N.C
3
3
3
N.A
0
0
0
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company activities in EU or national institutions   
C
4
4
4
N.R
0
0
0
N.C
3
3
3
N.A  
0
0
0
Board of directors has one or more members with relevant training 
and experience in social issues
C
1
1
1
N.R
0
0
0
N.C
6
6
6
N.A
0
0
0
The board of directors has one or more members with relevant 
training and experience in environmental issues 
C
0
0
0
N.R
0
0
0
N.C    
7
7
7
N.A
0
0
0
Senior management received training in social issues
C
1
1
1
N.R
0
0
0
N.C    
6
6
6
N.A
0
0
0
Senior management received training in environmental and climate 
change issues
C
0
0
0
N.R
0
0
0
N.C    
7
7
7
N.A
0
0
0
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111
Lobbying regulation
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Practice that can 
be improved  
Ryanair declares that lobbying activity must be carried out under ethical standards, however, it 
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Ryanair Anti-Bribery and Anti-Corruption (ABAC) Policy (2020), p. 4: “Lobbying should not be 
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functions (e.g., Ryanair’s Head of Public Affairs) provide guidance on how lobbying should be 
conducted based on the values of transparency, honesty and integrity. Any lobbying activities 
must be reported to the respective manager”
Contributions to political parties or related organisations
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Air France-KLM
3 of the company's directors between 2018 and 2020 (Anne Marie Idrac, Jean-Dominique Comolli and 
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Ryanair
4 of the company's directors between 2018 and 2020 (Michael Cawley, Julie O’Neill, Mike O’Brien and 
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TAP
Bernardo Trindade, director of the company in the three years analyzed, held the position of Secretary of 
State of Tourism of Portugal between 2009 and 2011.
(Based on annual reports and cross-check with public external sources)
172   Thiel, M., Bauer, E. & Runcan, P. Revolving Doors in the EU and US. European Parliament: Transparency Sector. July 2018. 
https://www.europarl.europa.eu/cmsdata/216441/EPRS_BRI(2018)625105_EN_revolving_doors.pdf

112
ESG background and training of senior management
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Good practice
TAP is the only company that has a director with relevant training and experience in social mat-
ters: Diogo Campos Barradas de Lacerda Machado (director between 2018 and 2020). Accor-
ding to TAP’s Corporate Governance Report (p.86), he has training in law, human rights and 
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113
RESULTS BY AREA 
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114
6.5 Greenwashing
6.5.1 What is greenwashing?
Green sells
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173   Kenny, S. Setback in ﬁght against greenwashing. Transport & Environment. 30 September 2019. 
https://www.transportenvironment.org/discover/setback-ﬁght-against-greenwashing/ 
174   Gelmini, S. We’re living in a golden age of greenwash. Greenpeace. 29 June 2021. 
https://www.greenpeace.org.uk/news/golden-age-of-greenwash/ 
175   Bruno, Kenneth and Greer, Jed. (1992) The Greenpeace Book of Greenwash. Amsterdam: Greenpeace.
176   How some powerful corporations are standing in the way of sustainable development. Greenpeace. June 2012 
https://wayback.archive-it.org/9650/20200430152205/http://p3-raw.greenpeace.org/international/Global/international/publications/RioPlus20/GreenwashPlus20.pdf

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177   Greenwash Factsheet. Corpwatch, 2001
 https://www.corpwatch.org/article/greenwash-fact-sheet
178   The Sins of Greenwashing Home and Family Edition. TerraChoice. 2010. 
http://faculty.wwu.edu/dunnc3/rprnts.TheSinsofGreenwashing2010.pdf 
179   Carrignton, D. How to spot the difference between a real climate policy and greenwashing guff. The Guardian. 6 May 2021.
 https://www.theguardian.com/commentisfree/2021/may/06/difference-real-climate-policy-greenwashing-emissions 
180   Words vs actions: The truth behind fossil fuel advertising. Greenpeace. 
https://www.greenpeace.org/static/planet4-netherlands-stateless/2021/10/3b500e9b-words-vs-actions-the-truth-behind-fossil-fuel-advertising.pdf
181  Green hydrogen or non-fossil hydrogen is produced using renewable electricity via electrolysis in a power-to-gas plant. According to the mentioned 
report, Greenpeace supports green hydrogen produced by renewable sources.
182  Corporate greenwashing: “net zero” and “nature-based solutions” are a deadly fraud. Grain. 17 March 2021. 
https://grain.org/en/article/6634-corporate-greenwashing-net-zero-and-nature-based-solutions-are-a-deadly-fraud

116
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Questionable sources
A slogan repeated by Ryanair in all its Annual Reports from 2018 to 2021 as well as in numerous press releases is to be 
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constantly working towards improving its performance”. 
However, the most recent Brighter Planet report on this issue that could be founded is a public document from 
2011187. In contrast Transport & Environment considered188 that Ryanair was the seventh biggest company with the 
most CO emissions in EU/ETS in 2019, the only airline in the top 10. 
Minimising negative impacts, exaggerating progress
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183   Bonaccorsi, L. EU law against greenwashing approved by European Parliament. 18 June 2020. Transport & Environment. 
https://www.transportenvironment.org/discover/eu-law-against-greenwashing-approved-european-parliament/ 
184   Timperley, J. Why ‘ﬂight shame’ is making people swap planes for trains. BBC. 10 September 2019. 
https://www.bbc.com/future/article/20190909-why-ﬂight-shame-is-making-people-swap-planes-for-trains
185   Hagagy, A. Aviation industry to counter ﬂight shaming movement: IATA chief. Reuters. 5 November 2019. 
https://www.reuters.com/article/us-airlines-environment-iata-idUSKBN1XF1HE 
186   Sampson, H. ‘Green’ travel stunts by airlines can’t erase the environmental impact of ﬂying. Washington Post. 16 August 2019. 
https://www.washingtonpost.com/travel/2019/08/16/green-travel-stunts-by-airlines-cant-erase-environmental-impact-ﬂying/ 
187   Kling, M & Hough, I. Air Travel: Carbon and Energy Efﬁciency. Brighter Planet. 2011. 
https://static.brighterplanet.com/science/publications/aviation/aviation.pdf 
188   Murphy, A. Ryanair Europe’s 7th biggest carbon polluter last year as aviation emissions continued to grow. Transport & Environment. 16 April 2020. 
https://www.transportenvironment.org/discover/ryanair-europes-7th-biggest-carbon-polluter-last-year-aviation-emissions-continued-grow/

117
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Europe’s lowest emissions airline
In February 2020, Ryanair was charged with greenwashing after the UK Advertising Standards Authority banned an 
advertising campaign claiming it was “Europe’s lowest fares, lowest emissions airline”192. The regulator concluded 
that the claims “Europe’s Lowest Emissions Airline and low CO2 emissions were misleading”. 
According to The Guardian, “The ads claim that Ryanair has the lowest carbon emissions of any major airline, ba-
sed on CO2HPLVVLRQVSHUSDVVHQJHUSHUNLORPHWHUŴRZQEHFDXVHLWKDVWKH\RXQJHVWŴHHWKLJKHVWSURSRUWLRQRI
VHDWVųOOHGRQŴLJKWVDQGQHZHVWPRVWIXHOHIųFLHQWHQJLQHVŕ193. According to Jo Dardenne, manager of Transport & 
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ruling is a reminder that the aviation sector’s climate impact is soaring because of a decades-long tax holiday and 
almost zero regulation of their pollution. European governments must without delay agree bilaterally to tax jet fuel until 
EU Vice-President Timmermans secures the end of the tax exemption ”.
Over-emphasised use of biofuel
An original version of a KLM corporative blog post claimed that “biofuels are always mixed with conventional fossil 
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Dutch Advertising Code Committee ordered KLM to change the blog post contents and to indicate the percentage 
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of biofuel196$FFRUGLQJWR(GLHQHWŔZKLOH./0KDVRSHUDWHGDVHOHFWHGQXPEHURIŴLJKWVZLWKDELRIXHOEOHQG
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total fuel consumption in 2019”197.
Voluntary measures, better than regulations
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189   Timmins, B. Advertising regulator to clampdown on greenwashing ads. BBC News. 23 September 2021. 
https://www.bbc.com/news/business-58645708 
190   Jessop, S. & Abnett, K. EU prepares to turn the screw on asset managers over greenwashing. Reuters. 9 March 2021. 
https://www.reuters.com/article/us-europe-regulations-ﬁnance-focus-idUSKBN2B11LM 
191   Código de Autorregulación sobre argumentos en comunicaciones comerciales 2009. Ministerio de Transición Ecológica y el Reto Demográﬁco. 
https://www.miteco.gob.es/es/ceneam/recursos/mini-portales-tematicos/Codigo-argumentos-ambientales_tcm30-70733.pdf 
192   ASA/CAP. ASA Ruling on Ryanair Ltd t/a Ryanair Ltd. 
https://www.asa.org.uk/rulings/ryanair-ltd-cas-571089-p1w6b2.html
193   Sweney, M. Ryanair accused of greenwash over carbon emissions claim. The Guardian. 5 February 2020. 
https://www.theguardian.com/business/2020/feb/05/ryanair-accused-of-greenwash-over-carbon-emissions-claim 
194   Dardenne, J. Ryanair fake ‘green’ ad shows why lawmakers must take on its soaring emissions. Transport & Environment. 5 February 2020. 
https://www.transportenvironment.org/discover/ryanair-fake-green-ad-shows-why-lawmakers-must-take-its-soaring-emissions/ 
195   Duivis, R. 10 Things You Didn’t Know About Biofuel. KLM. 23 July 2020.
 https://blog.klm.com/10-things-you-always-wanted-to-know-about-biofuel/ 
196   Uitspraken. Stichting reclame code. 
https://www.reclamecode.nl/uitspraken/biofuel/vervoer-2020-00136/269836/ 
197   George, S. KLM’s biofuel advertisements were greenwashing, regulator rules. Edie. 3 August 2020. 
https://www.edie.net/news/7/KLM-s-biofuel-advertisements-were-greenwashing--court-rules/

118
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Gold Standard and VCS. They will include forestry, renewable and community based projects”199.  
Some media200&201 questioned whether the company contribution to offsetting schemes was only 0.30 GBP per ticket sold, or the 
little carbon saving achieved through the company offsetting projects202.   
Flying carbon neutral? British Airways offsetting projects
In a press statement, British Airways announced that, from 1 January 2020, the airline “will begin offsetting carbon emissions on 
DOOLWVŴLJKWVZLWKLQWKH8.DVSDUWRIWKHDLUOLQHŒVFRPPLWPHQWWRDFKLHYLQJQHW]HURFDUERQHPLVVLRQVE\ŕ203.
An investigation carried out by Unearthed-Greenpeace and The Guardian ”found evidence that raises serious doubts about the 
ability of these projects to offset emissions in line with the claims of major airlines”. The investigation also suggests that “the 
FXUUHQWŴDJVKLSV\VWHPIRURIIVHWWLQJHPLVVLRQVWKURXJKDYRLGHGGHIRUHVWDWLRQPD\QRWEHųWIRUSXUSRVHŕ204.  In particular, this re-
port refers to one of the company’s main projects, which is being carried out in Madre de Dios, Peru. The Madre de Dios’ Project 
FRXOGEHH[SRVHGWRULVNVRIGHIRUHVWDWLRQGXHWRGHPRJUDSKLFSUHVVXUHPDNLQJLWGLIųFXOWWRPDNHDUHDOLVWLFFDOFXODWLRQRIRIIVHW
emissions. According to Redd Monitor, the Madre de Dios Project is run by logging companies205. 
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,QDSUHVVUHOHDVHLVVXHGLQ'HFHPEHU$LU)UDQFHDQQRXQFHGWKDWLWZDVŔWKHųUVWDLUOLQHWRSURDFWLYHO\RIIVHWWKHHPLVVLRQVRQLWV
GRPHVWLFŴLJKWVŕ206,QUHODWLRQWRWKHFRPSDQ\ŒVFRPPLWPHQWVLQWKHųJKWDJDLQVWFOLPDWHFKDQJHWKHVWDWHPHQWPHQWLRQVWKDWŔ7KLV
YROXQWDU\RIIVHWWLQJLQLWLDWLYHLVSDUWRI$LU)UDQFHŒVJOREDOFRPPLWPHQWWRUHGXFLQJLWVHQYLURQPHQWDOIRRWSULQWWKURXJKLWVŴHHWUHQHZDOLWŒV
piloting practices and its partnership with the SolarImpulse foundation aimed at developing sustainable solutions for aviation”.
The announcement and the use of this argument in corporate communications was questioned by numerous environmental 
groups207. According to La Chaîne Info: “Defenders of the environment invoke the objectives of the Paris Agreement on the cli-
PDWHWRGHPDQGWKHSXUHDQGVLPSOHUHGXFWLRQRIDLUWUDIųFUDWKHUWKDQWKHRQO\FRPSHQVDWLRQRI&2 emissions by airlines”208. 
Carbone 4 recommended that Air France “adopt a different semantics as of now, moving from ‘carbon compensation’ to (synon-
ymous with cancellation of emissions, which is incorrect) to ‘contribution to neutrality’” 209 .   
 
198   Hooker, L. Will I ever be able to ﬂy again without feeling guilty?. BBC. 29 August 2021. 
https://www.bbc.com/news/business-57917193
199   easyJet to become the world’s ﬁrst major airline to operate net-zero carbon ﬂights. 
https://mediacentre.easyjet.com/story/13474/easyjet-to-become-the-world-s-ﬁrst-major-airline-to-operate-net-zero-carbon-ﬂights 
200   Alkadri, H.  Mit 30 Cent gegen die Scham. 22 November 2019.
 https://taz.de/Greenwashing-von-Flugunternehmen/!5640954/
201   Hegmann, G. Mit 30 Cent will easyjet uns von der Flugscham befreien. Welt. 19 November 2019. 
https://www.welt.de/wirtschaft/article203657970/Easyjet-und-Lufthansa-werben-mit-CO2-Kompensation.html 
202   Carbon offsets used by airlines are not credibles, investigation shows. Transport & Environment. 31 May 2021. 
https://www.transportenvironment.org/discover/carbon-offsets-used-by-airlines-not-credible-investigation-shows/ 
203   British airways’ UK offsetting scheme takes off. British Airways. 
https://mediacentre.britishairways.com/pressrelease/details/86/0/11944 
204   Sandler, C. & Barratt, L. Top airlines’ promises to offset ﬂights rely on ‘phantom credits’. Unearthed. 4 June 2021. 
https://unearthed.greenpeace.org/2021/05/04/carbon-offsetting-british-airways-easyjet-verra/ 
205   Lang, C. Madre de Dios Amazon REDD Project: easyJet’s phantom carbon credits are generated by logging the forest. Redd. 14 May 2021. 
https://redd-monitor.org/2021/05/14/madre-de-dios-amazon-redd-project-easyjets-phantom-carbon-credits-are-generated-by-logging-the-forest/  
206   AirFrance. AirFrance to begin offsetting 100% of CO2 emissions on its domestic ﬂights on 1st January 2020. 23 December 2019. 
https://corporate.airfrance.com/en/press-release/air-france-begin-offsetting-100-co2-emissions-its-domestic-ﬂights-1st-january-2020 
207   FranceInfo.”Vol neutre en CO2” : la petite mention d’Air France qui fait tiquer des scientiﬁques. 30 July 2019. 
https://www.francetvinfo.fr/economie/transports/greve-a-air-france/vol-neutre-en-CO2-la-petite-mention-d-air-france-qui-fait-tiquer-des-scientiﬁques_4058309.html 
208   Michelon, V. Air France compensera “100% des émissions de CO2” sur ses vols intérieurs : mesure salutaire ou coup de com’ ?. LCI. 1 October 2019.
 https://www.lci.fr/planete/air-france-compensera-100-des-emissions-de-co2-sur-ses-vols-interieurs-greenwashing-ou-mesure-salutaire-2133791.html 
209   Amant, S. Air France et la neutralité : pourra-t-on voler tranquilles en France dès l’an prochain? Carbone 4. 7 November 2019.
 https://www.carbone4.com/decryptage-mobilite-air-france-neutralite

119
SAFs and new technologies
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In May 18, 2021, Air France-KLM announced in a press release211 that “Air France-KLM, Total, Groupe ADP and Airbus have joined 
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are considered by Benjamin Smith, CEO of Air France, as the “main lever in the medium-term for reducing our CO emissions per 
passenger/km by half by 2030”. A relevant aspect, not highlighted in the corporate communication about the event, is the propor-
tion of biofuel present in the SAF produced by TOTAL: just 16%, compared to 84% for conventional fuel. 
 
6LQFHWKH*URXSKDVFDUULHGRXWQXPHURXVWULDOVRI6$)VRQGRPHVWLFDQGPHGLXPKDXOŴLJKWV212, which according to a press 
release, places the company in a leadership position. But according to other sources, Air France-KLM is just one of more than 40 
airlines that regularly use SAFs213DQG./0PDGHLWVųUVWŴLJKWVZLWKELRIXHOLQWR%UD]LOEHIRUHHVWDEOLVKLQJDZHHNO\ŴLJKWEH-
tween Amsterdam and New York in 20132147KHUHIRUHLWLVTXHVWLRQDEOHZKHWKHUWKHŴLJKWPDGHLQ0D\FRXOGEHFRQVLGHUHG
a disruptive novelty for the company and the industry.
Is IAG’s  commitment to the  development and use of  SAF a strong one?
IAG boasts a strong commitment to SAF, and will invest US$ 400 million in SAF production over the next two decades (from 2017). 
In 2018 and 2019 IAG did not mention any investments, and in 2020 it declared that £0.5 million was invested in the Altalto waste-
to-jet initiative. Despite these commitments IAG declares sustainable fuels as a “regulatory risk” and takes a position against regu-
lations arguing that “the EU proposal to impose a sustainable fuel quota for the aviation sector would boost production but would 
force airlines to buy sustainable aviation fuels at a higher price compared to conventional fuels, creating a competitive distortion” 
(IAG, 2018) and its position is to “persuade to avoid mandates” (IAG, 2018).
6.2.2.6 Airlines and climate change talks
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210   In this regard, it is recommended to consult the section on lobbying activity in this document.
211   Air France-KLM, Total, Groupe ADP and Airbus Join Forces to Decarbonize Air Transportation and Carry Out The First Long-Haul 
Flight Powered By Sustainable Aviation Fuel Produced in France. 18 May 2021.
  https://www.airfranceklm.com/en/air-france-klm-total-groupe-adp-and-airbus-join-forces-decarbonize-air-transportation-and-carry-out 
212   Sauvage, G. Un premier vol long-courrier à l’huile de cuisson pour un avion d’Air France. France 24. 18 June 2021.
 https://www.france24.com/fr/%C3%A9co-tech/20210518-un-premier-vol-long-courrier-%C3%A0-l-huile-de-cuisson-pour-un-avion-d-air-france 
213   Philippe, A. Le vol AF 342 Paris-Montréal était-il vraiment le “ premier “ vol long-courrier avec du biocarburant ? RTBR.de. 19 May 2021. 
https://www.rtbf.be/info/monde/detail_le-vol-af-342-paris-montreal-etait-il-vraiment-le-premier-vol-long-courrier-avec-du-biocarburant?id=10765202#:~:-
text=Dans%20les%20r%C3%A9servoirs%20de%20l,partir%20d%27huiles%20de%20cuisson 
214   Kroesen, F. Deployment of sustainable aviation fuels at KLM. ICAO. 
https://www.icao.int/Meetings/SAFStocktaking/Documents/ICAO%20SAF%20Stocktaking%202019%20-%20AI1-3%20Fokko%20Kroesen.pdf 
215   Lobby Planet. A guide to corporate COP21. 
https://corporateeurope.org/sites/default/ﬁles/attachments/lobbyguide_en_small.pdf

120
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JHUILJHW[\YLKHNHPU¹217
Iberia as “silver sponsor” of COP25
Iberia (IAG’s Spanish airline) was a “silver sponsor” of the COP25 Climate Change Conference, held in Madrid in De-
cember 2019218. As reported in Iberia’s Sustainability Report 2019, p.73: “As part of the Climate Change Conference, 
Iberia received the award for business climate leadership given by Business Ambition for 1.5ºC of Global Compact 
Spain, which Iberia recently joined”. 
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media219&220  considered that the sponsorship of the event by highly polluting companies was a possible case of 
greenwashing. The sponsorship of the event, despite being a positive initiative, contrasts with the few commitments 
assumed by companies like Iberia and their poor environmental performance.
According to a Greenpeace report, “The environmental performance of IAG-Iberia cannot be considered to be alig-
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against climate change. And its incipient ‘forest’ in Madrid is a ruse to distract attention from its responsibility in the 
worsening of climate change”221.
216   UN. Conference of the Parties (COP). UN Climate Change. 
https://unfccc.int/process/bodies/supreme-bodies/conference-of-the-parties-cop 
217 Associated Press. Greenpeace Chief Warns of ‘Greenwashing’ at UN Climate Talks. US News. 22 October 2021. 
 https://www.usnews.com/news/us/articles/2021-10-21/greenpeace-chief-warns-of-greenwashing-at-un-climate-talks 
218 UN. Conferencia de las Naciones Unidas sobre el Cambio Climático, diciembre de 2019. UN Climate Change. 
https://unfccc.int/es/cop25 
219 Tena, A. Jugar a dos bandas o cómo hay empresas contaminantes en la Cumbre del Clima. 4 December 2019. 
https://www.publico.es/sociedad/cop-25-empresas-patrocinan-cop.html 
220 Villarreal, A. El ‘greenwashing’ del Ibex 35 con la Cumbre: chapa y pintura verde para grandes empresas. Cotizalia. 3 December 2019. 
https://www.elconﬁdencial.com/empresas/2019-12-03/cop25-greenwashing-empresas-ibex-35_2361780/ 
221 Haciendo Trampas al clima. Greenpeace. h
ttps://es.greenpeace.org/es/wp-content/uploads/sites/3/2020/12/HACIENDO-TRAMPAS-AL-CLIMA.pdf

121
GENERAL CONCLUSIONS

122
7. GENERAL CONCLUSIONS
7.1 Government support of airlines 
must correspond with more sustainable management.
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(ZJHUILZLLUT\JOVM[OLNV]LYUTLU[Z\WWVY[WYHJ[PJHSS`NP]LZ[OLHPYSPULZHISHURJOLX\LVUZVJPHSHUK
LU]PYVUTLU[HSPZZ\LZHUK[OLYLPZUV[LUV\NO[YHUZWHYLUJ`YLNHYKPUN[OLJVUKP[PVUZ0U[OVZLIHPSV\[Z
[OH[KVPUJS\KLW\ISPJJVUKP[PVUZ[OL`HYLUV[HS^H`ZJSLHYHZ[V[OLPYZJVWLWHY[PJ\SHYS`PU[OLLU]PYVU-
TLU[HSÄLSKHUK[OLYLT\ULYH[PVUVMTHUHNLYZ0UHJVU[L_[^OLYL:[H[LZOH]LPUJYLHZLK[OLPYWYLZLUJL
HZ ZOHYLOVSKLYZ VM ZL]LYHS HPYSPULZ VY OH]L H[ SLHZ[ JVU[YPI\[LK [V [OLPY ÄUHUJPHS Z\Y]P]HS [OL IHPSV\[Z
NYHU[LK[V[OLHPYSPULZZOV\SKZLY]L[VZ[PT\SH[LHUPTWYV]LTLU[PU[OLPYWLYMVYTHUJLVUPZZ\LZ^OPJOHYL
JYP[PJHS[V[OLJV\U[Y`
Recommendations regarding government support:
• 
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mitments and objectives by airlines in terms of their social and environmental impact and particularly 
reduction of their GHG emissions.
• 
Include new conditions related to aspects such as labour rights: employment protection, occupatio-
nal health and safety, equality and diversity, collective bargaining, work-life conciliation, etc.
• 
Improve levels of transparency regarding the conditions of the bailouts, as well as regarding com-
pliance and monitoring of the use of these funds in the coming years.

123
7.2 Airlines must incorporate 
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;OLJSPTH[LJOHUNLWLYMVYTHUJLVM[OLHPYSPULZHUHS`ZLKZOV\SKJSLHYS`ILPTWYV]LK(SSJVTWHUPLZ
L_JLW[:(:PUJYLHZLK[OLPY[V[HSLTPZZPVUZPUHUK ^OPSL[OLYLK\J[PVUPUPZK\L[V[OL
KLJYLHZLPUHPY[YHѝJHZHYLZ\S[VM[OLYLZ[YPJ[PVUZKLYP]LKMYVT[OLWHUKLTPJ5V[HISLPZ[OLSHJRVM[YHUZ-
WHYLUJ`HIV\[OV^JVTWHUPLZJHSJ\SH[L[OLPY[V[HSLTPZZPVUZVU^OL[OLY[OL`PUJS\KLZJVWLVYVќZL[Z
;OLJVTTP[TLU[Z[VHKKYLZZ[OPZZP[\H[PVUHYLJSLHYS`PUZ\ѝJPLU[HUK^LYLUV[PUJYLHZLKPUYLZWVUZL[V
IHPSV\[Z*VTWHUPLZ»WSHUZ[VYLK\JLLTPZZPVUZ[`WPJHSS`PUJS\KLTLHZ\YLZZ\JOHZÅLL[TVKLYUPZH[PVU
JVU[YPI\[PVU[VHLYVUH\[PJHSYLZLHYJO:(-ZVWLYH[PVUHSTLHZ\YLZVYYLN\SH[VY`HUKWYVHJ[P]LVќZL[[PUN
/V^L]LY[OLZLTLHZ\YLZHYLMHPSPUN[VYLK\JL[V[HSLTPZZPVUZHUKZVTLVM[OLTHYLL]LUJV\U[LYWYVK\J-
[P]LZ\JOHZ[OL\ZLVMWHSTVPSHZ:(-
4HU`JVTWHUPLZLZ[HISPZOLKLU]PYVUTLU[HSWSHUZTVYL[OHU[LU`LHYZHNVI\[OH]LUV[YLWVY[LKPUKL[HPS
VU[OLPYJVTWSPHUJL^OLU[OLKLHKSPUL^HZYLHJOLK>P[OV\[HKLX\H[LMVSSV^\WVM[OLJVTTP[TLU[Z
THKLYLJLU[S`[OPZZP[\H[PVUJV\SKILYLWLH[LKSLH]PUN[OLZLJVTTP[TLU[ZHZHZPTWSLKLJSHYH[PVUVMNVVK
PU[LU[PVUZVYH[^VYZ[NYLLU^HZOPUN[V\ZLPUHK]LY[PZPUN
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TLU[HUK[OLLJVUVTPJPTWHJ[VM[OLWHUKLTPJTH`KLSH`[OLZSPNO[HK]HUJLZYLNPZ[LYLKPUYLJLU[`LHYZ
Recommendations related to climate change risk management:
• 
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annual goals in terms of the absolute reduction of greenhouse gas emissions. 
• 
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institutions and other transport sector agents (i.e rail companies).
• 
Airlines must present realistic information about the scope of their offsetting programmes or the 
incorporation of SAFs, two aspects widely used in corporate communication, but with a rather 
questionable effective impact. 
• 
Airlines should consider incorporating more senior managers with knowledge and experience in 
environmental issues, as well as promoting training on these issues at the senior management level.
• 
Airlines should increase their transparency about the calculation methods used to determine emis-
sions, as well as offer the information in such a way that it can facilitate comparability.
• 
Regulatory institutions must establish reporting obligations on emissions and their compensation as 
ZHOODVVDQFWLRQVLQFDVHRIQRQFRPSOLDQFH,QSDUWLFXODUWKHVSHFLųFFDOFXODWLRQPHWKRGVVKRXOG
EHLQFOXGHGDVZHOODVVLJQLųFDQWLQIRUPDWLRQRQWKHųQDQFLDOVRFLDODQGHQYLURQPHQWDODVSHFWV
linked to the projects supported through the compensation programs.

124
7.3 Airlines have to face growing job precariousness, guarantee adequate collective 
bargaining and strengthen their commitments on equality and non-discrimination. 
(S[OV\NO^VYRPUNJVUKP[PVUZPU[OLHPYSPULPUK\Z[Y`OH]L[YHKP[PVUHSS`OHKYLSH[P]LS`OPNOZ[HUKHYKZ[OLJVU-
KP[PVUZVMYLJLU[S`PUJVYWVYH[LKWLYZVUULSLZWLJPHSS`PU[OLSV^JVZ[HPYSPULZHYLILJVTPUNTVYLWYLJH-
YPV\Z^P[O[OLLTLYNLUJLVM]HYPV\ZMVYTZVMV\[ZV\YJPUNHUKH[`WPJHSLTWSV`TLU[TVKHSP[PLZ^P[OSPTP[LK
PUMVYTH[PVUHIV\[[OPZMYVT[OLHUHS`ZLKHPYSPULZ;OLZLJVU[YHJ[PUNTVKHSP[PLZHYLWHY[VM¸LѝJPLUJ`¹
WYVNYHTZ[OH[WYPVYP[PZL[OLYLK\J[PVUVMSHIV\YJVZ[ZPUTHU`JHZLZ^P[OV\[Z\ѝJPLU[S`HKKYLZZPUNV[OLY
HZWLJ[ZYLSH[LK[VVWLYH[PVUZZ\JOHZ[OLYLUL^HSVM[OLÅLL[VYÄUHUJLZHNNYLZZP]LKP]PKLUKWVSPJPLZ
THUHNLYZ^P[OTPSSPVUHPYLZHSHYPLZLѝJPLUJ`;OLYPZPUNWYLJHYPV\ZULZZPU[OL`LHYZWYPVY[V[OLJYPZPZ
HKKLK[V[OLKL]HZ[H[PUNLќLJ[ZVM[OLJYPZPZP[ZLSMYHPZLZHWHUVYHTHVM\UJLY[HPU[`HIV\[[OLOPYPUNHUK
^VYRPUNJVUKP[PVUZPU[OLZLJ[VY
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ZLK^OPJOVUH]LYHNLYLK\JLK[OLPY^VYRMVYJLI`IL[^LLU HUK;OL^VYRMVYJLYLK\J[PVUZ
HYLJVUZPKLYLKPYYL]LYZPISLPU[OLZOVY[[LYTK\L[V[OL\UJLY[HPU[`PU[OLZLJ[VYHUK[OL`ZLLT[VOH]L
JVTL[VZ[H`HZWHY[VMZ[Y\J[\YHSHKQ\Z[TLU[WYVJLZZLZ
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YLK\J[PVUVMSHIV\YJVZ[ZHUKHSZV[VVRWHY[PU]HYPV\ZNV]LYUTLU[QVIZ\WWVY[ZJOLTLZ0UHJVU[L_[VM
L_JLW[PVUHSP[`HUKPTTLKPHJ`\UKLY[OL[OYLH[VMIHURY\W[J`[OLWVZZPIPSP[PLZMVY^VYRLYZ[VPUÅ\LUJL[OL
Z[YH[LNPJKLJPZPVUZVMJVTWHUPLZHUKNV]LYUTLU[Z^LYLSHYNLS`SPTP[LK(M[LY`LHYZVMPU[LUZLSHIV\YJVU-
ÅPJ[Z[OLYLZWVUZL[V[OLWHUKLTPJZLLTZ[VOH]LW\[VUOVSKZVTLVM[OL\UPVUKLTHUKZYLNHYKPUN[OL
NYV^PUNWYLJHYPV\ZULZZVM^VYRPUNJVUKP[PVUZPU[OLHPYSPULZ
(SSVM[OLHUHS`ZLKHPYSPULZZ[H[LPUNYLH[LYVYSLZZKL[HPSHNLULYHSJVTTP[TLU[[VWYVTV[PUNLX\HS
VWWVY[\UP[PLZPU[OLPY^VYRMVYJLHUKTHUHNLTLU[/V^L]LYPUNLULYHS[OLZLJVTTP[TLU[ZHYLUV[X\HU-
[PÄHISLHUKOH]LUV[LTWVYHY`KLHKSPULZ"[OLYLPZHSZVSP[[SLPUMVYTH[PVUHIV\[M\UKHTLU[HSHZWLJ[Z[OH[
JV\SK]LYPM`JVTWSPHUJLMVYL_HTWSLVUWH`NHWZ>VTLUWYVNYLZZP]LS`NHPUZWHJLVU[OLIVHYKZVM
KPYLJ[VYZVM[OLJVTWHUPLZHUHS`ZLKOV^L]LY[OLPYWYLZLUJLPUV[OLYHYLHZVMTHUHNLTLU[YLTHPUZH[
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Recommendations on workforce management:
• 
Greater incorporation of commitments related to gender equality at the salary and professional pro-
motion level, beyond the boards of directors. Promotion of similar commitments regarding other 
possible categories of discrimination such as ethnic origin, disability or age.
• 
Greater agreement between different stakeholders for the protection of employment and the promo-
tion of measures related to the professional retraining and job alternatives for airline workers affected 
by the workforce reductions.
• 
Regulations aimed at standardising data on the composition of the workforce, their contractual con-
ditions, their professional category, etc. Said data must be more exhaustive and comparable than at 
present, and presented with a greater degree of disaggregation.
• 
In order to contribute to a way out of the COVID-19 crisis that reinforces social cohesion, the esta-
blishment of regulations aimed at improving working conditions in the sector and avoiding the preca-
riousness of the workforce should be considered a priority. 
• 
Greater transparency about the number of people employed under temporary or part-time contracts, 
as well as through subcontractors, temporary work agencies or other “atypical forms” of hiring, inclu-
ding the working conditions of these employees.

125
7.4 Airlines should maintain policies of moderation 
regarding the distribution of dividends and the remuneration of senior management.
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PUHPYSPULHJ[P]P[`HZHYLZ\S[VM[OLWHUKLTPJOHKKL]HZ[H[PUNLќLJ[ZVU[OLPYÄUHUJPHSYLZ\S[ZMVYHUK
[OLJVTWHUPLZHUHS`ZLKYLJVYKLKULNH[P]LYLZ\S[Z
;OLKPZ[YPI\[PVUVMKP]PKLUKZPZ\Z\HSS`SPURLK[V[OLYLZ\S[ZHUKWYVZWLJ[ZVM[OLJVTWHU`[^VHZWLJ[Z
ZLYPV\ZS`[OYLH[LULKI`[OL*6=0+ JYPZPZPU[OLJHZLVMHPYSPULZ)L`VUK[OLKP]PKLUKIHUJVUKP[PVUZ
LZ[HISPZOLKI`NV]LYUTLU[IHPSV\[Z[OLLHYS`JVU[L_[^HZUV[Z\P[HISLMVYKP]PKLUKKPZ[YPI\[PVU
0[PZ^VY[OJVUZPKLYPUN[V^OH[L_[LU[[OLZLIHPSV\[JVUKP[PVUZ^PSSHSSV^PU[OLTLKP\THUKSVUN[LYT[OL
HKVW[PVUVMTVYL¸TVKLYH[L¹KP]PKLUKWVSPJPLZVYKP]PKLUKWVSPJPLZ[HRPUNPU[VHJJV\U[YLHSJSPTH[LWLYMVY-
THUJL
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NYLH[LYIL[^LLU HUKZVTL[OPUN[OH[PZYLSH[LK[V[OYLLMHJ[VYZ![OLKL[LYPVYH[PVUVM[OLÄUHUJPHS
ÄN\YLZ\Z\HSS`\ZLKPU[OLJHSJ\SH[PVUVM]HYPHISLYLT\ULYH[PVU[OLJVUKP[PVUZVMJLY[HPUIHPSV\[HNYLLTLU[Z
HUKHSZV]VS\U[HY`PUP[PH[P]LZ[VYLK\JLVYKLMLYWH`TLU[ZI`ZLUPVYTHUHNLTLU[+LZWP[L[OLUV[HISL
KLJYLHZLPU[OLPYHIZVS\[LHTV\U[[OLZLYLT\ULYH[PVUZJVU[PU\L[VILH[]LY`OPNOSL]LSZ^P[OHSHYNL
KPќLYLUJLJVTWHYLK[V[OLH]LYHNLLTWSV`LLYLT\ULYH[PVUPULHJOJVTWHU`
Recommendations on dividends and incentives:
• 
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distribution of dividends in the coming years.
• 
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criteria and conditions.
• 
The incorporation of metrics related to climate change in variable remuneration schemes could be 
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EHQHųFLDULHVWDUJHWVDQGOHYHOVRIFRPSOLDQFH
• 
Access to public support to be conditional on responsible policies and practices for the management 
of remuneration to executives and shareholders.

126
7.5 Airlines must increase transparency about their lobbying 
activity and ensure that it is carried out under ethical standards.
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;OPZPU[LY]LU[PVUZ[YH[LN`W\[ZJVYWVYH[LPU[LYLZ[ZPUHWYP]PSLNLKWVZP[PVUJVTWHYLK[V[OLKLTHUKZVMZV-
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VM[OLWHUKLTPJOHZPU[LUZPÄLK[OLZLPULX\HSP[PLZPUPUÅ\LUJLV]LY[OLTHQVYKLJPZPVUTHRPUNZWOLYLZH[
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[OLZLJ[VYOHZZOV^UOLHKVUVWWVZP[PVU[VUH[PVUHSH]PH[PVU[H_LZWYLZZPUNMVY*69:0([VIL[OLVUS`
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Recommendations related to lobbying activity:
• 
Reform of the regulatory reporting frameworks on lobbying information, within the framework of sa-
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• 
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of corporate lobbies and allowing a plural representation of the interests of the various social agents.
• 
Expansion of the scope and completeness of the information included in the EU Transparency Re-
gister and the registers of national institutions.
• 
Improving the level of transparency on investment in lobbying activities, reliably reporting the econo-
mic and human resources assigned to it. This includes a breakdown of the legislative initiatives that 
have been the objective of monitoring by the company, the contributions by sectoral organisations 
and the meetings with national and European authorities.
• 
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FUHDWLRQRIVSHFLųFDQGSXEOLFO\DFFHVVLEOHSROLFLHV
• 
Improve the accountability of companies in relation to lobbying actions carried out,  by reporting on 
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127
7.6 Airlines must be responsible and objective 
when communicating about their environmental impact.
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Recommendations to avoid greenwashing:
• 
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tion of emissions in absolute terms.
• 
Science-based criteria when reporting on the company’s performance and environmental commit-
ments.
• 
Realistic information about the risks and trade-offs in their offsetting or SAFs programmes. Compa-
nies must ensure that these measures are coherent with sustainability and human rights criteria. For 
example, in the case of SAFs, agrofuels production has a big impact itself,222 and can be counterpro-
ductive for food security, climate and biodiversity223. 
• 
Greater involvement of advertising regulators in the creation of regulations and manuals of good 
practices in communication on the management of environmental impacts.
• 
Sanctions for companies whose information or advertisements do not correspond to the reality of the 
company’s environmental impact.
222   Hugo Valin (IIASA), Daan Peters (Ecofys), Maarten van den Berg (E4tech), Stefan Frank,
Petr Havlik, Nicklas Forsell (IIASA) and Carlo Hamelinck (Ecofys): The land use change impact of
biofuels consumed in the EU Quantiﬁcation of area and greenhouse gas impacts, 2015.
https://ec.europa.eu/energy/sites/ener/ﬁles/documents/Final%20Report_GLOBIOM_publication.pdf 
223  I nternational Food Policies Research Institute (IFPRI): Biofuels and food security. Balancing needs for food, feed, and fuel, 2008.
https://www.ifpri.org/publication/biofuels-and-food-security

ANNEX

129
ANNEX 1: LIST OF INDICATORS
Climate change area
POLICY AND COMMITMENT
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+VLZ[OLJVTWHU`OH]LHUHIZVS\[LUV[UL[LTPZZPVUYLK\J[PVU[HYNL[PU[OLZOVY[TLKP\T[LYT& 
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MANAGEMENT SYSTEM
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 
0M`LZ[OLJVTWHU`PUKPJH[LZ[OLWLYJLU[HNLVMWYVK\J[PVUMHJPSP[PLZLTWSV`LLZJV]LYLKI`[OLJLY[PÄLKH\KP[LKZ`Z-
[LT& 
/H]L:JVWLHUK:JVWL./.LTPZZPVUZILLUL_[LYUHSS`]LYPÄLKH\KP[LK& 
+VLZ[OLJVTWHU`YLWVY[VU:JVWLLTPZZPVUZ& 
+VLZ[OLJVTWHU`YLWVY[VU:JVWLLTPZZPVUZ& 
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GHG EMISSIONS
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/HZ[OLH]LYHNLHNLVM[OLHPYJYHM[ÅLL[KLJYLHZLKPU[OLSHZ[`LHYI`H[SLHZ[TVU[OZ& 
/HZ[OLJVTWHU`\ZLK:(-& 
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0M`LZHYL[OL`Z`U[OL[PJ& 
0M`LZHYL[OL`MYVTYLUL^HISLVYPNPU& 
/HZ[OLJVTWHU`Z\WWVY[LKHU`:(-WYVNYHTTL& 
0Z[OLJVTWHU`VќZL[[PUNWHY[VMP[ZÅPNO[Z& 
0Z[OLJVTWHU`VќZL[[PUNÅPNO[Z& 
0Z[OLJVTWHU`VќLYPUN[VVќZL[ÅPNO[Z& 

130
Labour area
WORKFORCE STRUCTURE
;OLJVTWHU`KPKUV[YLK\JLP[Z^VYRMVYJLJVTWHYLK[V[OLWYL]PV\Z`LHY 
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7YV]PKLZZWLJPÄJKH[HVU[OLU\TILYVMSH`VќZ 
*VTTP[TLU[[VWYVTV[LHUKTHPU[HPULTWSV`TLU[ 
;LTWVYHY`^VYRLYZKVUV[L_JLLKVM[OL[V[HS^VYRMVYJLPU 
+VLZ56;PUJYLHZL[OLVM[LTWVYHY`LTWSV`LLZJVTWHYLK[V[OLWYL]PV\Z`LHY 
0UJHZLVMPUJYLHZPUNVMWHY[[PTLLTWSV`LLZJVTWHYLK[V[OLWYL]PV\Z`LHYWYV]PKLHQ\Z[PÄJH[PVU 
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`TLU[JVTWHU` 
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 
LABOUR RIGHTS
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L_HTWSL6:/(: 
([SLHZ[VM[OL^VYRMVYJLPZJV]LYLKI`JVSSLJ[P]LHNYLLTLU[ 
([SLHZ[ VM[OL^VYRMVYJLPZJV]LYLKI`JVSSLJ[P]LHNYLLTLU[ 
0M[OLYLOH]LILLUSHIV\YKPZW\[LZVYZ[YPRLZYLWVY[ZVU[OLT 
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EQUALITY AND DIVERSITY
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;OLJVTWHU`»ZJVTTP[TLU[Z[VNLUKLYLX\HSP[`YLÅLJ[X\HU[PÄHISLHUK[PTLIV\UKNVHSZ 
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;OLKPќLYLUJLIL[^LLU[OLH]LYHNLYLT\ULYH[PVUVMTLUHUK^VTLUPZSLZZ[OHUPU 
;OLKPќLYLUJLIL[^LLU[OLH]LYHNLYLT\ULYH[PVUVMTLUHUK^VTLUPZSLZZ[OHUPU 
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([SLHZ[VM[OLTLTILYZVM[OLIVHYKVMKPYLJ[VYZHYL^VTLU  
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7YV]PKLZKH[HVU[OLKPќLYLUJLIL[^LLU[OLOPNOLZ[ZHSHY`HUK[OLH]LYHNLHUKVYSV^LZ[ZHSHY`PU[OL^VYRMVYJL
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Dividends and incentives area
DIVIDENDS
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INCENTIVES
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131
 
+PKUV[PUJYLHZL[OL[V[HSYLT\ULYH[PVUVM[OLIVHYKVMKPYLJ[VYZJVTWHYLK[V[OLWYL]PV\Z`LHY 
9LWVY[ZVU[OLJVTWVULU[ZHUKZ[Y\J[\YLVM[OL]HYPHISLYLT\ULYH[PVUHJJVYKPUN[VVIQLJ[P]LZVM[OLKPYLJ[VYZ
 
+PKUV[PUJYLHZL[OL[V[HS]HYPHISLYLT\ULYH[PVUWHPK[V[OLIVHYKVMKPYLJ[VYZJVTWHYLK[VWYL]PV\Z`LHY 
;OLJVTWHU`OHZUV[THKLZL]LYHUJLHNYLLTLU[ZHUKOHZUV[WHPKZL]LYHUJLZPUL_JLZZVM[^V`LHYZ»ZHSHY`[V
KPYLJ[VYZHUKV[OLYZLUPVYL_LJ\[P]LZPU 
;OLYLHYLKPYLJ[VYZ^P[OHVM]HYPHISLYLT\ULYH[PVUKLWLUKPUNVU,:.VIQLJ[P]LZ 
;OLYLHYLKPYLJ[VYZ^P[OH]HYPHISLYLT\ULYH[PVUKLWLUKPUNVUVIQLJ[P]LZZWLJPÄJHSS`YLSH[LK[VJSPTH[LJOHUNL
 
:WLJPÄLZJVUKP[PVUZHUKSL]LSZVMJVTWSPHUJL^P[OJSPTH[LJOHUNLZWLJPÄJ[HYNL[Z 
Lobbying area
LOBBY ACTIVITY
;OLJVTWHU`YLWVY[ZVUHZZVJPH[PVUZVYV[OLYVYNHUPZH[PVUZ^OVYLWYLZLU[P[ZI\ZPULZZPU[LYLZ[ZPU[OLW\ISPJZWOLYL
 
;OLJVTWHU`YLWVY[ZVU[OL[V[HSHTV\U[VMJVU[YPI\[PVUZ[V[OLZLLU[P[PLZ 
0[WYV]PKLZ[OLKPZHNNYLNH[LKKH[HMVYLHJOVYNHUPZH[PVU[V^OPJOP[JVU[YPI\[LZ 
;OLJVTWHU`PZYLNPZ[LYLKPU[OL,<;YHUZWHYLUJ`9LNPZ[LY 
;OLJVTWHU`YLWVY[ZP[ZYLNPZ[YH[PVUPUV[OLY[YHUZWHYLUJ`YLNPZ[LYZVMW\ISPJPUZ[P[\[PVUZ 
;OLJVTWHU`YLWVY[ZVU[OLZ\IQLJ[Z^OLYLP[OHZL_LYJPZLKSVII`PUNHJ[P]P[`PU 
9LWVY[ZVUSVII`PUNHJ[P]P[PLZPUYLSH[PVU[VJSPTH[LJOHUNLLNLTPZZPVUZLM\LSZL[J 
9LWVY[ZVUSVII`PUNHJ[P]P[PLZPUYLSH[PVU[VSHIV\YYLN\SH[PVUÅL_PIPSP[`SH`VќZL[J 
9LWVY[ZVUSVII`PUNHJ[P]P[PLZPUYLSH[PVU[VVI[HPUPUN¸IHPSV\[Z¹Z\IZPKPLZVYW\ISPJHPK 
9LWVY[ZVU[OLSLNPZSH[P]LPUP[PH[P]LZ[OH[OH]LILLUTVUP[VYLKI`[OLJVTWHU` 
9LWVY[ZVUTLL[PUN^P[OZLUPVYVѝJPHSZMYVT[OL,<VY[OLJV\U[YPLZPU^OPJOP[OHZHWYLZLUJL 
LOBBY ETHICS
;OLJVTWHU`WYV]PKLZPUMVYTH[PVUVU[OLPU[LYUHSYLN\SH[PVUVM[OLSVII`PUNM\UJ[PVU 
)HUZJVU[YPI\[PVUZ[VWVSP[PJHSWHY[PLZHUK[OLPYJHUKPKH[LZPUHSSJV\U[YPLZPU^OPJOP[VWLYH[LZ 
7YV]PKLZKH[HVUWVSP[PJHSJVU[YPI\[PVUZVY[OLPYUVUL_PZ[LUJLPU 
)HUZJVU[YPI\[PVUZ[VMV\UKH[PVUZHUKV[OLYIVKPLZSPURLK[VWVSP[PJHSWHY[PLZ 
0[KVLZUV[OH]LVUP[ZIVHYKVMKPYLJ[VYZMVYTLYWVSP[PJPHUZVYVѝJPHSZSPURLK[VP[ZZWOLYLVMHJ[P]P[`PUPUZ[P[\[PVUZH[
UH[PVUHSVY,<SL]LS 
;OLIVHYKVMKPYLJ[VYZOHZVULVYTVYLTLTILYZ^P[OYLSL]HU[[YHPUPUNHUKL_WLYPLUJLPUZVJPHSPZZ\LZ 
;OLIVHYKVMKPYLJ[VYZOHZVULVYTVYLTLTILYZ^P[OYLSL]HU[[YHPUPUNHUKL_WLYPLUJLPULU]PYVUTLU[HSPZZ\LZ
 
:LUPVYTHUHNLTLU[OHZYLJLP]LK[YHPUPUNPUZVJPHSPZZ\LZ 
:LUPVYTHUHNLTLU[OHZYLJLP]LK[YHPUPUNPULU]PYVUTLU[HSPZZ\LZ 
ANNEX 2: MAIN CORPORATE SOURCES
Air France-KLM
<UP]LYZHS9LNPZ[YH[PVU+VJ\TLU[
O[[WZ!^^^HPYMYHUJLRSTJVTLUZ`Z[LTÄSLZYLNPZ[YH[PVUFKVJ\TLU[FHPYFMYHUJLRSTFF]HFKLMWKM
*:99LWVY[
O[[WZ!JZYYLWVY[HPYMYHUJLRSTJVTLU
<UP]LYZHS9LNPZ[YH[PVU+VJ\TLU[ 
O[[WZ!^^^HPYMYHUJLRSTJVTLUZ`Z[LTÄSLZ\UP]LYZHSYLNPZ[YH[PVUKVJ\TLU[ ]HWKM
*:99LWVY[ 
O[[WZ!JVYWVYH[LHPYMYHUJLJVTLUUL^ZHPYMYHUJLRSTZ JZYYLWVY[
<UP]LYZHS9LNPZ[YH[PVU+VJ\TLU[
O[[WZ!^^^HPYMYHUJLRSTJVTLUZ`Z[LTÄSLZHMRF\YKFF WKM
*:99LWVY[
O[[WZ!Z\Z[HPUHIPSP[`YLWVY[HPYMYHUJLRSTJVTLU

132
easyJet
(UU\HSYLWVY[HUKHJJV\U[Z
O[[WZ!JVYWVYH[LLHZ`QL[JVTeTLKPH-PSLZ,,HZ`QL[WKMPU]LZ[VYZYLZ\S[ZJLU[YLHUU\HSYLWVY[HUKHJJV\U[ZWKM
(UU\HSYLWVY[HUKHJJV\U[Z 
O[[WZ!JVYWVYH[LLHZ`QL[JVTeTLKPH-PSLZ,,HZ`QL[WKMPU]LZ[VYZYLZ\S[ZJLU[YL LHZHUU\HSYLWVY[ ^LIWKM
(UU\HSYLWVY[HUKHJJV\U[Z
O[[WZ!JVYWVYH[LLHZ`QL[JVTeTLKPH-PSLZ,,HZ`QL[WKMPU]LZ[VYZHNTHNTKLJHUU\HSYLWVY[WKM
 
IAG
(UU\HSYLWVY[HUKHJJV\U[Z
O[[WZ!^^^PHPYNYV\WJVTeTLKPH-PSLZ00(.HUU\HSYLWVY[ZPHNHUU\HSYLWVY[ZLUHUU\HSYLWVY[HUKHJJV\U[ZLUWKM
(UU\HSYLWVY[HUKHJJV\U[Z 
O[[WZ!^^^PHPYNYV\WJVTeTLKPH-PSLZ00(.KVJ\TLU[Z0(.(UU\HSYLWVY[HUKHJJV\U[Z WKM
(UU\HSYLWVY[HUKHJJV\U[Z
O[[WZ!^^^PHPYNYV\WJVTeTLKPH-PSLZ00(.HUU\HSYLWVY[ZPHNHUU\HSYLWVY[ZLUPHNHUU\HSYLWVY[HUKHJJV\U[ZWKM
 
Lufthansa
(UU\HS9LWVY[
O[[WZ!^^^S\M[OHUZHNYV\WJVTLU[OLTLZHUU\HSYLWVY[O[TS
(UU\HS9LWVY[ 
O[[WZ!PU]LZ[VYYLSH[PVUZS\M[OHUZHNYV\WJVTÄSLHKTPUKV^USVHKZLUÄUHUJPHSYLWVY[ZHUU\HSYLWVY[Z3/(9 LWKM
(UU\HS9LWVY[
O[[WZ!^^^S\M[OHUZHNYV\WJVTLU[OLTLZHUU\HSYLWVY[O[TS
Ryanair
(UU\HS9LWVY[
O[[WZ!PU]LZ[VYY`HUHPYJVT^WJVU[LU[\WSVHKZ9`HUHPY-@(UU\HS9LWVY[WKM
(UU\HS9LWVY[ 
O[[WZ!PU]LZ[VYY`HUHPYJVTY`YYLWVY[ZHUU\HSYLWVY[ 
(UU\HS9LWVY[
O[[WZ!PU]LZ[VYY`HUHPYJVTY`YYLWVY[ZHUU\HSYLWVY[
(UU\HS9LWVY[
O[[WZ!PU]LZ[VYY`HUHPYJVT^WJVU[LU[\WSVHKZ-05(3F9`HUHPY/VSKPUNZWSJ(UU\HS9LWVY[-@WKM
SAS
(UU\HSYLWVY[
O[[WZ!^^^ZHZNYV\WUL[PU]LZ[VYYLSH[PVUZÄUHUJPHSYLWVY[ZHUU\HSYLWVY[ZZHZHUU\HSYLWVY[ÄZJHS`LHY
:\Z[HPUHIPSP[`YLWVY[
O[[WZ!^^^ZHZNYV\WUL[Z\Z[HPUHIPSP[`Z\Z[HPUHIPSP[`YLWVY[ZZHZZ\Z[HPUHIPSP[`YLWVY[
(UU\HSHUKZ\Z[HPUHIPSP[`YLWVY[ 
O[[WZ!^^^ZHZNYV\WUL[PU]LZ[VYYLSH[PVUZÄUHUJPHSYLWVY[ZHUU\HSYLWVY[ZZHZHUU\HSHUKZ\Z[HPUHIPSP[`YLWVY[ÄZJHS`LHY 
(UU\HSHUKZ\Z[HPUHIPSP[`YLWVY[
O[[WZ!^^^ZHZNYV\WUL[PU]LZ[VYYLSH[PVUZÄUHUJPHSYLWVY[ZHUU\HSYLWVY[ZZHZHUU\HSHUKZ\Z[HPUHIPSP[`YLWVY[ÄZJHS`LHY
TAP
(UU\HSYLWVY[
O[[WZ!^^^[HWHPYWVY[\NHSJVTLUTLKPH0UZ[P[\JPVUHS7+-Z(U\HSYLWVY[Z 9*9(;(7:.7:*VUZVSPKH-
KVF7;WKM&SH$LUOHZO$*,,-(- *,)-)-))(,,(
(UU\HSYLWVY[ 
O[[WZ!^^^[HWHPYWVY[\NHSJVTLUTLKPH0UZ[P[\JPVUHS7+-Z(U\HSYLWVY[Z9LSH[VYPVKL*VU[HZ;(7:.7:*VUZV-
SPKH[LK(UU\HS9LWVY[-@ F,5WKM&SH$LUOHZO$--()))+, +  (
(UU\HSYLWVY[
O[[WZ!^^^[HWHPYWVY[\NHSJVTLUTLKPH0UZ[P[\JPVUHS7+-Z9LSH[VYPVZ1<59*;(7:.7:*VUZVSPKHKVF
,5WKM&SH$LUOHZO$-+(+)****,*)()(*+-*+
:\Z[HPUHIPSP[`YLWVY[
O[[WZ!^^^[HWHPYWVY[\NHSJVTLUTLKPH0UZ[P[\JPVUHS7+-Z(U\HSYLWVY[Z9LSH[YPV:\Z[LU[HIPSPKH-
KL:.7:F1\UOVF7;WKM&SH$LUOHZO$,*((*,+(+*   -(*  ,*)