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Airlines warn of price hikes from green shift. By Reuters

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© Reuters. FILE PHOTO: Willie Walsh, Director General of the International Air Transport Association, takes part in a panel discussion at the International Air Transport Association (IATA) Annual General Meeting in Boston, Massachusetts, US, October 5, 2021. R

Written by Emma Farge

GENEVA (Reuters) – Airline passengers face rising ticket prices as the industry moves toward its goal of net-zero emissions by 2050, the head of a global trade association said on Tuesday.

Willie Walsh, director general of the International Air Transport Association, which includes most of the world’s major airlines, has called for faster action in Europe to ramp up scarce production of sustainable aviation fuel (SAF).

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Airline ticket prices have already jumped this year as a result of higher prices for conventional, fossil fuel-based jet fuels.

“You can’t expect an industry that has an average profit of $1 per customer to absorb the increases that we’ve seen,” Walsh told reporters at an annual briefing.

“Going forward as we see increases in carbon costs … there has to be an impact on ticket prices as the industry moves to net zero. Airlines cannot absorb the increased costs.”

Environmental groups argue that the high costs of air travel will help curb emissions by curbing the growth in traffic.

Walsh praised US efforts to raise clean fuel production, in apparent contrast to European objections that new US incentives could create an uneven playing field.

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“In the US, it is recognized that sustainable jet fuel is part of the solution and they are very focused on incremental production,” Walsh said.

He dismissed EU moves to oblige airports to provide increased supplies to the SAF, which is not widely available, as “nonsense”.

“Europe’s response to the problem punishes people,” he said.

In July, the European Parliament endorsed rules on jet fuels that set binding targets for replacing kerosene with less polluting sources, while broadening the definition of green fuels.

In the United States, the Biden administration has launched a government challenge to supply at least 3 billion gallons of SAF annually by 2030.

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The airline sector is one of the most difficult to decarbonize as flight fuel cannot be easily replaced by other types of energy.

This year’s US Inflation Reduction Act includes large subsidies for the SAF industry in the form of tax credits, but European industry leaders including the head of planemaker Airbus have said the legislation is unfair.

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.