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Anastacia Davies, head of renewable fuels for BloombergNEF, said sustainable aviation fuel, or SAF, is “incredibly valuable as a solution because it’s so easy.”
“Molecularly, it’s almost identical to normal jet fuel,” Davies said. Global demand for SAF should go from just 100 million gallons this year to 3.5 billion gallons in 2028, but the supply might not be at the airports that airlines want, Davies said in an interview.
Air Canada has also acquired a $5 million equity stake in Heart Aerospace as part of its broader strategy to invest $50 million in new technologies. The company has pledged to reach net-zero emissions by 2050.
“We’ve taken down emissions 43% over the last 27 years, primarily by spending $12 billion on much more efficient aircrafts,” Rousseau said, but more needs to be done to meet the 2050 target. While expensive, carbon credits will help in the short term and the company is working hard on sustainable fuel. “But the third leg is airplane technology,” he said.
Air Canada is still running at about 80% of pre-pandemic levels, but business traffic has been coming back since Labor Day, Rousseau said.
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