Airlines warn oil companies to speed up alternative fuel production

Major oil companies must speed up the development of alternative fuels crucial to the aviation industry meeting its 2050 net-zero emissions target or risk losing out to businesses that will, airlines warned on Tuesday. The airline industry requires huge investments in so-called sustainable aviation fuels (SAF), which are currently in short supply and far more expensive than conventional jet fuels. “We are not going to accept excuses. Bottom line is if they are not going to do it, others will,” said Willie Walsh, the head of the IATA. “This is a business opportunity. You no longer need to have oil in the ground to produce fuel. There are many feedstocks available to produce sustainable fuels,” he told reporters at the end of a three-day airline industry meeting in Doha. Commercial aviation contributes about 2% of global carbon dioxide emissions. The development of SAF, made from feedstocks such as cooking oils and animal waste, is expected to make the biggest contribution to airlines achieving net-zero. Future technologies such as electric and hydrogen-powered aircraft are still unproven and will likely take decades to replace existing aircraft if developed.<br/>