What will be the most interesting is how this will affect the US airlines that fly into Europe.
They WON'T have to pay, yet the EU based airlines flying to the US WILL.
This puts the US airlines at a significant competitive advantage and will hopefully lead to the whole scheme imploding.
The whole EU ETS scheme is absurdly complicated. A far simpler solution would be to put a few pence of hypothecated duty on each litre of jet fuel and use the money to plant trees or something.