CANBERRA: Australia’s flag carrier, Qantas, has committed USD 200 million to the country’s sustainable aviation fuel (SAF) industry, which aims to cut carbon emissions.
The historic partnership, according to the Xinhua report, is part of Qantas’ goal to transition to sustainable aviation fuels (biofuels) and position Australia as a major exporter of SAF. “This investment will assist in the establishment of a local biofuels industry in Australia, perhaps stimulating additional investment from governments and other firms and increasing momentum for the industry as a whole,” said Qantas CEO Alan Joyce.
“Ensuring a sustainable future for our industry has become a priority for Airbus,” said Airbus CEO Guillaume Faury in a joint statement. “We are taking up this challenge with partners around the world and from all industries.”
The initial agreement between Qantas and Airbus would be for five years, with the option to extend it. Qantas has committed to using 10% SAF in its whole fuel mix by 2030, increasing to 60% by 2050.
When compared to regular jet fuel, biofuels can reduce greenhouse gas emissions by up to 80%, making them an essential tool for airlines aiming to lessen their environmental impact.