oneworld Alliance and member airlines International Airlines Group (IAG), Cathay Pacific, and Japan Airlines have launched a new investment fund which aims to address both the scarcity and high cost of Sustainable Aviation Fuels (SAF).
The fund, which is led by American Airlines and Alaska Airlines, will seek to accelerate the international development of cost-effective, scalable long-term aviation fuel solutions through investments in new SAF technologies.
BEV, Breakthrough Energy Venture’s capital fund, will act as the fund’s investment manager.
oneworld’s BEV Fund will also look to support the growth of alternative fuel markets, create economic value for international investors and regions and develop a new SAF supply chain.
Robert Isom, American Airlines CEO and chairman of oneworld, said:By investing in the SAF technologies of the future, American and our oneworld partners are making a business decision to accelerate the development of novel technologies with the potential to reach larger scale at lower prices than current technologies can achieve.
We believe reducing the emissions from our operation meets the demands of our customers, will make our business more competitive, and will enable us to continue to deliver the enormous economic benefits of commercial aviation for generations to come.
