oneworld Alliance, together with member airlines and in partnership with Breakthrough Energy Ventures (BEV), announced the launch of a new investment fund aimed at addressing the limited availability and high cost of sustainable aviation fuel (SAF). The initiative is led by anchor investors Alaska Airlines and American Airlines, with participation from IAG, Cathay Pacific, Japan Airlines, and Singapore Airlines, achieving an initial close of $150 million.

The oneworld BEV Fund aims to invest in innovative next-generation SAF technologies, support the growth of alternative fuel markets, drive technological innovation, and develop a diverse and resilient supply chain to meet the future demand of the global airline industry.

Robert Isom, CEO of American Airlines and President of oneworld, emphasized that this business decision seeks to unlock technologies with the potential to scale at lower costs than current ones, reducing emissions from airline operations and strengthening the sector’s competitiveness, while ensuring aviation’s economic contribution for future generations.

For his part, Ben Minicucci, CEO of Alaska Air Group, noted that this collaboration represents a key step in the long-term transformation of the energy used in the industry. He also emphasized that Breakthrough Energy Ventures’ scientific, technical, and commercial expertise will enable effective investment decisions that foster the development of a market for next-generation fuels.

With this initiative, oneworld and its partners reinforce their commitment to the decarbonization of aviation and the promotion of sustainable solutions on a global scale.

Source and Credits to oneworld Alliance

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