Qantas Airways and Airbus will Invest $200 Million in Renewable Fuels
, fromAirbus SE
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