United Airlines announces new investments to move the needle on decarbonizing aviation
Published Feb 21, 2023
United Airlines announced it’s opening a new investment fund – the Sustainable Flight Fund – to help boost its efforts to back sustainable aviation fuel (SAF) production.
Through the fund, which is opening with $100 million in investments from other corporate partners including JP Morgan Chase, Honeywell and Air Canada, United said it plans to support SAF startups and enter multiyear agreements for fuel produced in the near future.
“How do we really accelerate the transition that really needs to happen in aviation, and how do we do it with an eye toward making SAF the fuel of choice, not the least economic option?” Lauren Riley, United’s chief sustainability officer told USA TODAY. “The basic dynamics of the market right now don’t favor sustainable aviation fuel,” which is generally much more expensive than traditional petroleum-based jet fuel.
Story credit: USA Today