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HomeEconomyQantas partners with Airbus, announces $200 million biofuel investment MPNRC
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Qantas partners with Airbus, announces $200 million biofuel investment MPNRC

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Australian flag carrier Qantas has announced a $200 million joint investment with Airbus in the country’s sustainable aviation fuel (SAF) industry designed to reduce carbon emissions. The historic deal, announced to the public on Sunday, is part of Qantas’ push for sustainable jet fuel – biofuels – and to position Australia as a leading exporter of SAF, reports Xinhua news agency. “This investment will help kickstart a local biofuels industry in Australia and will hopefully encourage additional investment from governments and other businesses and create more momentum for the industry,” said Qantas CEO Alan Joyce.

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“Ensuring a sustainable future for our industry has become a priority for Airbus and we are taking on this challenge with partners around the world and across all sectors,” Airbus CEO Guillaume Faury said in the joint statement.

The Qantas-Airbus partnership will last for an initial five years with the option of extension. Qantas has committed itself to using 10 percent SAF in its overall fuel mix by 2030 and 60 percent by 2050. Compared to conventional jet fuel, biofuels can cut greenhouse gas emissions by about 80 percent, and thus are an important tool as airlines seek to reduce their impact on the environment.

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Joyce hoped the deal would encourage other airlines and government bodies to get involved.

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“We are calling on other companies and producers to come forward with their biofuel projects. In many cases, this funding will be the difference between when some of these projects get off the ground. ,

The investment comes amid green initiatives since the airline committed to net zero emissions by 2050 in 2019. These include carbon offset schemes, more efficient aircraft, flight paths, and a more frequent ‘green tier’ that rewards customers. Based on the sustainability of their lifestyle.

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