Airline alliance OneWorld and its member carriers establish financial vehicle to foster development of Sustainable Aviation Fuel technologies
American Airlines and the oneworld Alliance, along with partners from the International Airlines Group (IAG), Cathay Pacific, and Japan Airlines, have launched a new investment fund to address the scarcity and high cost of Sustainable Aviation Fuels (SAF). The investment manager of this fund, aimed at promoting SAF technologies, is Breakthrough Energy Ventures (BEV).
The strategic decision to invest in SAF technologies is a crucial step towards reducing emissions from the operations of these airlines. By developing a new SAF supply chain and investing in novel technologies, the fund aims to achieve larger scale at lower prices than current technologies.
The primary goal of the fund is to ensure the continued delivery of economic benefits from commercial aviation, while also meeting customer demands and improving business competitiveness. The fund will invest in new SAF technologies and accelerate their development to create economic value for international investors and regions.
The fund's goal is also to accelerate the international development of cost-effective, scalable long-term aviation fuel solutions. This investment strategy is designed to enable the continued delivery of economic benefits from commercial aviation, while also addressing the environmental concerns associated with air travel.
American Airlines, along with oneworld Alliance partners, believe that reducing emissions from their operations aligns with customer demands, enhances business competitiveness, and ensures the continued delivery of economic benefits from commercial aviation. The investment in SAF technologies is intended to meet customer demands and improve business competitiveness.
Moreover, the oneworld Alliance's BEV Fund will support the growth of alternative fuel markets. BEV, Breakthrough Energy Venture's capital fund, will act as the fund's investment manager, responsible for overseeing the investment strategy and ensuring its success.
In conclusion, the new investment fund led by American Airlines and the oneworld Alliance marks a significant step towards a more sustainable future for aviation. By investing in SAF technologies, these airlines are demonstrating their commitment to reducing emissions, meeting customer demands, and ensuring the continued delivery of economic benefits from commercial aviation.
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