Alliance and Carrier Members Unveil Investment Fund for Enhanced Development of Sustainable Aviation Fuels
American Airlines, in partnership with oneworld Alliance, has announced the launch of a new investment fund dedicated to the development of future Sustainable Aviation Fuel (SAF) technologies. The fund, led by American Airlines and Alaska Airlines, aims to address the scarcity and high cost of SAF, a critical challenge in the aviation industry.
The primary goal of this fund is to accelerate the international development of cost-effective, scalable long-term aviation fuel solutions. By investing in new SAF technologies, the fund aims to achieve larger scale at lower prices compared to current SAF technologies. This strategic move is in line with the demands of a more environmentally-conscious consumer base and American Airlines' commitment to reducing emissions.
The fund will also develop a new SAF supply chain, a crucial step towards making the operation of American Airlines more competitive. This initiative is expected to contribute to the growth of alternative fuel markets and create economic value for international investors and regions.
The investment manager for the fund is BEV, Breakthrough Energy Venture's capital fund. Robert Isom, the founder of the BEV capital fund, will lead the connection between American Airlines and the oneworld Alliance in promoting renewable aviation fuel.
The oneworld Alliance, in collaboration with International Airlines Group (IAG), Cathay Pacific, and Japan Airlines, has also launched a new investment fund as part of its commitment to the oneworld Alliance's SAF fund. This joint effort underscores the industry's collective commitment to a more sustainable and competitive aviation sector.
The investment is expected to enable American Airlines to continue delivering economic benefits for future generations, while also aligning with the airline's strategic business decision to accelerate the development of novel SAF technologies. The potential impact of this investment extends beyond American Airlines, with the possibility of shaping a more competitive and sustainable aviation industry.
Read also:
- Development of Restaurant Apps: Expenses and Essential Elements
- Time is of the essence
- European transportation's sustainability and competitiveness rely on a "green industrial agreement" that serves the interests of both corporations and residents, as discussed in an Editorial from August 2024.
- Indian Oil Corporation's Panipat Refinery secures India's inaugural ISCC CORSIA accreditation for Sustainable Aviation Fuel production
