Qantas Airways and Airbus said on Sunday they would invest up to US$200 million to accelerate the development of a sustainable aviation fuels industry in Australia to help meet the airline's goal of lowering carbon emissions.
The global airline industry, aiming to reach net zero emissions by 2050, is relying on SAF usage to rise from around 100 million litres a year in 2021 to at least 449 billion litres a year within three decades, a mammoth and costly undertaking.
"It makes a lot of sense for us to put equity into an industry that we will be the biggest customer of," Joyce said."We're calling on other companies and producers to come forward with their biofuel projects."Raytheon Technologies-owned engine maker Pratt & Whitney will join Airbus and Qantas in providing funding, the partners said, without disclosing the terms. Qantas has ordered Pratt & Whitney engines for its new Airbus narrowbody fleet.
"But we can't do this without viable industrial systems to produce and commercialise these energy sources at affordable rates and near to key hubs around the world," he said.