Qantas & Airbus Invest $200 Million in Renewable Fuels

Published on:
by KnowESG,

Airbus SE

KnowESG_Renewable_fuels
Picture of Qantas sustainable Aircraft

Airbus SE and Qantas Airways Ltd. will collaborate to launch Australia's sustainable aviation fuel industry.

The planemaker and airline announced plans to invest up to $200 million to speed the country's adoption of SAF on Sunday, ahead of the International Air Transport Association's annual convention in Doha.

Alan Joyce, Chief Executive Officer of Qantas, said: "The use of SAF is increasing globally as governments and industry work together to find ways to decarbonise the aviation sector. Without swift action, Australia is at risk of getting left behind.”

Raytheon Technologies Corp.'s Pratt & Whitney unit, whose geared turbofan engines Qantas chose for a recent Airbus A220 and A320neo deal, will make a modest contribution to the project. The firms may eventually take ownership interests in SAF enterprises considered sustainable.

Qantas, based in Sydney, already uses about 1% SAF in its network but plans to increase this, according to Joyce.

According to the CEO, corporate demand is back to 90 per cent of 2019 levels, with leisure reservations rebounding even quicker and already at 120 per cent of pre-Covid levels, as the easing of travel restrictions encourages people to take a vacation or see family and friends. He expects international capacity to be fully recovered by the second quarter of 2023.

Source: Business Standard

For more investor-related news

Share:
esg
esg
esg
esg

Investors Headlines

Amtrak Publishes 2023 Sustainability Report

Amtrak Publishes 2023 Sustainability Report

Danske Bank's New Mobile Feature for Sustainable Investing

Danske Bank's New Mobile Feature for Sustainable Investing

Mizuho, LSEG Partner to Grow Carbon Credit Market

Safran to Build a More Sustainable Aerospace Supply Chain

ESG in Private Real Estate: Preqin & Measurabl Tie-Up

AIM Group Publishes First Sustainability Report

APSEZ Earns Top Ranks for Sustainability Efforts

IHS Towers Releases 2023 Sustainability Report

TriNet Earns Top ESG Rating from ISS ESG

PATRIZIA Strengthens ESG Team for Impact Investing

More from Airbus SE
Airbus DAC Team Recognised for Climate Innovation
Airbus DAC Team Recognised for Climate Innovation
Airbus, AURA AERO Partner for Greener Pilot Training
Airbus, AURA AERO Partner for Greener Pilot Training
Airbus Joins Forces with LanzaJet to Enhance SAF
Airbus Joins Forces with LanzaJet to Enhance SAF
Hydrogen-Powered In-Flight Aux Power: Airbus Trials
Hydrogen-Powered In-Flight Aux Power: Airbus Trials