Air Canada and Airbus plan C$13.7M sustainable fuel platform

Air Canada (TSX: AC) and Airbus have announced plans to establish a jointly funded Sustainability Co-Investment Platform, with a shared objective to invest up to approximately C$13.7 million (US$10 million) to support a commercial-scale sustainable aviation fuel (SAF) industry in Canada, according to a press release from the two companies.

The platform will focus on advancing a jointly agreed Canadian SAF project toward a Final Investment Decision. Both companies said they intend to continue collaboration with federal and provincial government partners to support SAF production at scale, alongside the Canadian Sustainable Aviation Fuel Coalition (C-SAF).

As part of the initiative, Airbus has signed a five-year agreement under Air Canada's Leave Less Travel Program, through which it will purchase SAF environmental attributes associated with over 60,000 litres of SAF for its first allocation. The program tracks corporate greenhouse gas emissions from business travel and retires verified SAF environmental attributes on behalf of participants.

"Air Canada is proud to help advance aviation's energy transition in Canada," said Valerie Durand, Vice President, Airport Affairs, Corporate Real Estate and Sustainability at Air Canada.

Julie Kitcher, Airbus Chief Sustainability Officer and Communications, said the co-investment platform and long-term commitment to Air Canada's Leave Less Travel Programme will help stimulate both production of and demand for SAF in Canada.

A macroeconomic study by Airbus and ICF, released alongside the announcement, estimates that scaling domestic SAF to meet 40% of Canada's aviation fuel demand by 2040 could add $32 billion to Canada's GDP and create 140,000 jobs across agricultural, forestry, and urban regions.

Both Air Canada and Airbus stated support for the aviation industry's goal, set by IATA, ATAG, and ICAO, of net-zero carbon emissions by 2050.

You May Also Be Interested In

• FDA Committee Recommends To Widen Access To Bpc-157 Peptide
• Alpha Compute launches coalition opposing AI data center restrictions
• AMD and Cerebras partner on disaggregated AI inference solution