Ryanair to reach net zero via sustainable fuel, offsetting measures By Reuters

© Reuters. FILE PHOTO: A Ryanair aircraft lands on the southern runway at Gatwick Airport in Crawley, Britain, August 25, 2021. REUTERS/Peter Nicholls

DUBLIN (Reuters) – Ryanair aims to achieve a third of its decarbonisation target by flying its planes with sustainable aviation fuels, and will also rely on offsetting measures to cut its emissions to net zero by 2050, it said on Monday.

The Irish airline, Europe’s largest by passenger numbers, committed last year to power 12.5% ​​of its flights with sustainable aviation fuels by 2030, although Chief Executive Michael O’Leary has since said he is not sure Ryanair will reach the “very ambitious target. “

Sustainable jet fuel generally produces up to 70% less carbon than fossil fuels, offering airlines a way to become greener while continuing to fly, before less carbon-intensive hybrid, electric or hydrogen aeroplane options become available from the late 2030s.

The budget carrier said on Monday that its order of 210 Boeing (NYSE:) 737 MAX jets, which use around 16% less fuel than the current generation of 737s while squeezing in 4% more passengers, will help it meet 32% of its decarbonisation target.

Critics say the low-cost business model encourages people to fly more frequently and drives growth in the total number of people flying.

Ryanair plans to grow from flying around 150 million passengers per year before the COVID-19 pandemic to 225 million by 2026, although it predicts that total short-haul capacity in Europe is likely to be lower after the pandemic.

Offsetting measures, which Ryanair said will include carbon capture offset projects and supporting government policies and reforms, will contribute a further 24%.

One such reform, an overhaul of the European Union’s air traffic management agreed by member states last year, will take care of the final 10% of Ryanair’s decarbonisation target, the airline estimated.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a Reply

Your email address will not be published.