The oneworld Alliance and the IATA will collaborate on CO2 emission calculations. All 13 oneworld member airlines have pledged to share operational data with IATA’s CO2 Connect emissions calculator. This will enhance the tool’s accuracy and reliability by significantly increasing the utilization of airline-specific fuel consumption data. The following oneworld member airlines will contribute data: Alaska Airlines, American Airlines, British Airways, Cathay Pacific, Finnair, Iberia, Japan Airlines, Malaysia Airlines, Qatar Airways, Qantas, Royal Air Maroc, Royal Jordanian, and SriLankan Airlines. According to Marie Owens Thomsen, IATA‘s Senior Vice President for Sustainability and Chief Economist, travelers desire to be well-informed about their carbon dioxide (CO2) impact. To meet this need, IATA CO2 Connect was developed to offer CO2 emission calculations using operational data. By being the first airline alliance to participate in this initiative, oneworld demonstrates the industry’s commitment to achieving uniformity and alignment in this area, with all 13 member airlines contributing data. The collaboration between IATA and oneworld, airline alliance’s Environmental and Sustainability Board Chair, Grace Cheung of Cathay Pacific said, will assist major stakeholders in the aviation industry, such as airlines, aircraft manufacturers, and travel management companies, in making improved decisions for travelers and enhancing ESG reporting through CO2 Connect.<br/>
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Finnair has used proceeds from its recent rights issue to purchase six Airbus A321s from lessor BOC Aviation. The airline says the twinjets were previously on lease. It states that the transaction amounts to over E200m and will generate a positive annual impact of E20m on pre-tax profit and cash-flow. The airline conducted a share issue in November which raised around E570m in gross proceeds. Finnair says it has used part of the funding to repay a E120m tranche from a E600m pension premium loan as well as the previously-planned E100m instalment. The remaining loan totals E280m which, the airline adds, will be repaid no later than May 2025. It expects the extra repayment will have a E3m effect on pre-tax profit during 2024, in the form of lower interest costs.<br/>