Airbus SE and Qantas Airways will make a joint venture to launch Australia’s sustainable aviation fuel industry, according to Bloomberg.
The aircraft manufacturer and the airline plan to invest up to $ 200 million to speed up the adoption of SAFs in the country, they said today ahead of the International Aviation Association’s annual meeting in Doha.
“The use of SAF is growing globally as governments and industry work together to find ways to rid the airline of its carbon footprint,” Qantas chief executive Alan Joyce told a joint news conference. “Without immediate action, Australia is in danger of falling behind.”
The partners will make equal investments in the project, with a smaller contribution from the Pratt & Whitney arm of Raytheon Technologies Corp. whose gearbox turbocharged engines were chosen by Qantas for a recent Airbus A220 and A320neo order. The companies could eventually also get stakes in SAF ventures that would be deemed viable.
Sydney-based Qantas currently uses about 1% SAF in its network, but will seek to increase it, Joyce said.
The CEO said that corporate demand has returned to 90% of 2019 levels, while leisure bookings are recovering even faster and are now at 120% of the position they were before Covid, as the end of travel restrictions pushes them people to vacation or visit family and friends. International capacity should be fully recovered by the second quarter of 2023, he said.
Source: Capital
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