Cathay Pacific and Airbus plan to invest up to $70 million to promote the development of sustainable aviation fuel

Cathay Pacific (00293.HK) announced a joint investment agreement with Airbus to promote the development of Sustainable Aviation Fuel (SAF) in Asia and globally, with both parties jointly investing up to USD 70 million (approximately HKD 545 million).

According to the agreement, both parties will jointly identify, evaluate, and invest in SAF projects that have commercial viability, technological maturity, and long-term supply potential, aiming to boost SAF production capacity by 2030 and beyond. Cathay Pacific and Airbus also advocate for the development of policies to promote SAF supply and demand in Asia, leveraging their global operational experience to assist in formulating relevant policies to make SAF more accessible and cost-effective.

Cathay Pacific's President of Operations and Service, Ronald Lam, stated that SAF is the most important driver for Cathay Pacific and the entire aviation industry to achieve carbon reduction goals. This collaboration will affirm the group's commitment to scaling up the SAF industry in the short term, with hopes of partnering with like-minded companies to expand the current application of SAF