You are here: Home » International » News » Companies
Business Standard

Qantas Airways, Airbus to make $200 million sustainable fuels investment

The planemaker and airline plan to invest as much as $200 million to accelerate the adoption of SAF in the country, they said Sunday

Airbus | Qantas | Australia

Charlotte Ryan | Bloomberg 

Qantas Airways
Qantas Airways.

SE and Airways Ltd. will make a joint investment aimed at kick-starting Australia’s sustainable industry.

The planemaker and airline plan to invest as much as $200 million to accelerate the adoption of SAF in the country, they said Sunday ahead of the Air Transport Association’s annual meeting in Doha.

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

The partners will make equal investments in the project, with a smaller contribution from Raytheon Technologies Corp.’s Pratt & Whitney arm, whose geared turbofan engines selected for a recent A220 and A320neo order. The firms could ultimately also take equity stakes in SAF ventures that are deemed viable.

Sydney-based Qantas currently uses around 1% SAF in its network but will look to grow this, Joyce said.

The CEO said that corporate demand is back to 90% of 2019 levels, with leisure bookings rebounding even faster and now at 120% of the pre-Covid position as the end of travel curbs prompts people to take a holiday or visit family and friends. capacity should be fully recovered by the second quarter of 2023, he said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, June 19 2022. 23:13 IST