Repsol and Ryanair Ink SAF Deal
Ryanair Holdings plc
Ryanair, the biggest European airline, and Repsol, a worldwide energy conglomerate, have signed a Memorandum of Understanding (MOU). The agreement aims to improve the distribution of sustainable aviation fuel (SAF) at Ryanair airports in Spain and Portugal as part of the airline's strategy to achieve net-zero emissions.
Although SAF is vital for reducing aviation emissions, its current use accounts for only a small proportion of global jet fuel consumption. Ryanair's deal with Repsol will grant them access to 155,000 tonnes (or 52 million gallons) of SAF from 2025 to 2030, equivalent to around 28,000 flights from Dublin to Madrid. This agreement could potentially reduce carbon dioxide (CO2) emissions by approximately 490,000 tonnes.
Ryanair has set a challenging target of relying on SAF for 12.5% of its fuel consumption by 2030 and achieving net-zero emissions by 2050. The agreement with Repsol reflects the mutual commitment of both companies to collaborate and invest in the supply of SAF.
Ryanair's CEO, Eddie Wilson, spoke at Repsol's headquarters in Madrid and emphasised the importance of SAF in the airline's strategy to achieve net-zero emissions by 2050. Wilson noted that achieving the target of using 12.5% SAF by 2030 requires various feedstocks and production techniques, and the collaboration with Repsol will enable Ryanair to access approximately 15% of that goal.
Valero Marin, Repsol's Executive Managing Director of Client, expressed his satisfaction with the collaboration, which reinforces Repsol's commitment to renewable fuels and the aviation industry's decarbonisation process. Marin also highlighted Repsol's ambition to become a net-zero emissions company by 2050, underscoring its status as a multi-energy corporation.
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Source: Ryanair
