Based on the proposal of the European Commission on including the aviation sector into the European Emission Trading Scheme, a route-based analysis is conducted simulating cost and demand implications for selected airlines. For a scenario of V20/tons CO2, results indicate that the EU-ETS CO2-based cost increases for the airlines are between V9 and V27 per route and therefore, as an individual factor, are not high enough to instigate major route reconfigurations among European airlines.