British Airways, LanzaJet and Nova Pangaea Technologies have struck an agreement to accelerate Project Speedbird, which aims to develop cost-effective sustainable aviation fuel (SAF) for commercial use in the UK. IAG, the parent company of the British Airways, will now invest in the project to facilitate the next phase of development work for aviation decarbonisation. Created last year by the three companies, Project Speedbird targets annual production of 102m litres of SAF from sustainably sourced agricultural and wood waste.<br/>It received a grant of around GBP500,000 from the Department for Transport’s (DfT) Green Fuels, Green Skies competition to fund the initial feasibility study for early-stage project development. An application has now been submitted for the DfT’s Advanced Fuels Fund grant for further funding to support continued development of the project. Construction work for the SAF production facility is expected to begin early next year in North East England, with delivery of the end product anticipated by 2026. Once operational, it will be the UK’s first facility to produce SAF using agricultural and wood waste.<br/>
oneworld
Royal Jordanian Airlines edged into a third-quarter operating profit, with a surplus of JD5.3m ($7.4m), but net losses for the quarter and the nine-month period were worse than last year’s figures. The flag-carrier generated revenues of JD452 m for the nine months to 30 September – including JD363m from passenger transport and JD27m from cargo. But it also recorded expenditure of JD468m, and Royal Jordanian turned in a net loss for the period of JD71.6m, deeper than the JD54 million of the previous year, according to the accounts filed to the Amman stock exchange. It attributes the higher net loss to the “steep increase in fuel prices”. The airline says the average price of fuel increased by 82% compared with last year. CE Samer Majali says the fuel expenditure accounts for almost 40% of the carrier’s operating costs. He says the rising prices present “one more challenge” to the airline. Royal Jordanian’s current liabilities exceed its current assets by JD163m, but the airline has continued to receive government support to relieve its financial pressures. In May the ministry of finance was authorised to increase the carrier’s capital by JD70m. The airline received JD35m in May and the balance in August.<br/>
Qantas Airways' CEO succession planning is in good shape even though long-serving boss Alan Joyce is expected to stay until at least the end of 2023, the airline's chairman said on Friday. "The board looks at succession each year at almost every meeting, but specifically twice a year," Chairman Richard Goyder told shareholders at the company's annual meeting in Sydney. "The board feels we are in good shape for CEO succession as and when that will occur." Joyce has been the airline's boss for nearly 14 years, making him one of the longest-serving CEOs of a major Australian company. During his tenure, several senior executives seen by investors as potential internal successors have left the company, the latest being Jetstar boss Gareth Evans, who is exiting in December after 23 years with the company. Goyder said the airline had strong internal candidates to succeed Joyce, though it would also canvass the external market when needed.<br/>