Deutsche Lufthansa AG named Till Streichert as CFO to succeed Remco Steenbergen, who announced his surprise departure a few months ago as part of a broader management overhaul. Streichert joins from flight-bookings specialist Amadeus IT Holding SA, according to a statement by Europe’s largest airline group on Monday. He’ll take up his role mid September and was granted a three-year contract, Lufthansa said. Steenbergen is leaving to join specialty chemicals maker Sandoz Group AG, where he will take over in July. His departure at Lufthansa, announced in late February, coincided with a wholesale shakeup of top management, with four of its six most senior executives departing — though CEO Carsten Spohr is staying on. At Lufthansa, Streichert will need to help stabilise earnings after a wave of strikes in recent months forced the company to scale back its ambitions. The airline said last week that it will need to identify some cost cuts as a result. The company is also engaged in the protracted takeover attempt of Italian carrier ITA Airways, with European competition authorities taking a deep dive into the proposed transaction. Lufthansa board member Michael Niggemann will lead the finance department on an interim basis following Steenbergen’s departure until Streichert takes over, the airline said. <br/>
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Singapore Airlines Group ordered 1,000 tons of sustainable aviation fuel from refiner Neste, the first supply of such fuel produced in Neste's refinery in the city-state to airlines at Changi Airport, Neste said on Monday. The agreement will see Finland-based Neste blend sustainable aviation fuel (SAF), made from 100% renewable waste and residue raw materials, with conventional fuel and deliver the blended SAF to Changi Airport's fuel hydrant system in the second quarter and then in the fourth quarter of 2024. Neste's Singapore refinery is the world's largest production facility for jet fuel made from waste materials, with annual SAF capacity of up to one million metric tons. "This agreement with Neste is an important milestone in the SIA Group's journey to have a minimum of 5% sustainable aviation fuel in our total fuel uplift by 2030," said Lee Wen Fen, chief sustainability officer of the airline. In February, Singapore announced plans to require all flights departing the country to use SAF from 2026, as the city-state joins the global aviation industry's efforts to switch to greener fuel. Under the plan, the country aims for a 1% SAF target from 2026 and plans to raise it to 3-5% by 2030.<br/>