Business

Qantas, Airbus to invest up to US$200 million to develop Australian sustainable aviation fuel industry


DOHA, Qatar: Qantas Airways and Airbus stated on Sunday (Jun 19) they’d make investments as much as US$200 million to speed up the event of a sustainable aviation fuels (SAF) business in Australia to assist meet the airline’s objective of reducing carbon emissions.

The settlement, introduced on the sidelines of worldwide airline business physique IATA’s annual assembly in Doha, is according to Qantas’ goal of utilizing 10 per cent SAF in its gas combine by 2030 and comes after it positioned a multi-billion greenback order for Airbus narrowbody and widebody planes final month.

The worldwide airline business, aiming to achieve web zero emissions by 2050, is counting on SAF utilization to rise from round 100 million litres a yr in 2021 to not less than 449 billion litres a yr inside three many years, a mammoth and expensive enterprise.

With no commercial-scale sources in Australia, Qantas is sourcing SAF in London and Los Angeles.

“This funding will assist kickstart a neighborhood biofuels business in Australia and hopefully encourage further funding from governments and different enterprise and construct extra momentum for the business as a complete,” Qantas chief govt Alan Joyce stated in a press release.

The funding, which incorporates A$50 million of funding beforehand dedicated by Qantas, may go to a mixture of start-up corporations and extra established operators, the airline stated.

“It makes a variety of sense for us to place fairness into an business that we would be the largest buyer of,” Joyce stated. “We’re calling on different firms and producers to return ahead with their biofuel tasks.”



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