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Share Price Information for International Airlines (IAG)

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Share Price: 171.40
Bid: 171.60
Ask: 171.70
Change: 1.15 (0.68%)
Spread: 0.10 (0.058%)
Open: 170.30
High: 173.50
Low: 170.25
Prev. Close: 170.25
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Aviation leaders hail green fuel as carbon saviour, but wonder who will pay

Thu, 19th Jan 2023 19:12

Sustainable aviation fuel only near-term option

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Could require $1.5 trln investment over 30 years

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Airlines, aircraft owners say EU must do more

By Joanna Plucinska and Conor Humphries

DUBLIN, Jan 19 (Reuters) - Greener fuel is the only way airlines will meet strict global carbon emission targets, executives meeting in Dublin this week agreed, but there's little consensus on who should foot the hefty bill to ramp up production.

Sustainable aviation fuel (SAF), which uses feedstocks like cooking oils to reduce emissions by up to 80% from conventional fuel, is seen as the carbon saviour for an aviation sector often cast as a villain in the fight against climate change.

But the nascent industry makes up less than 1% of fuel used and costs between three to five times more than traditional jet fuel.

That has stirred a debate whether governments, airlines or oil producers - or a combination of all three - should fund the expansion of production required to hit a proposed European Union target of 20% by 2035.

Aengus Kelly, chief executive of lease giant AerCap, said SAF was the only option, but cited an estimate that the transition could require investment of $1.5 trillion over 30 years.

"That's an extraordinary cost," he told the Airline Economics conference, one of a pair of annual events that bring together the world's largest aircraft owners.

"Government won't do it all. That's not going to happen."

Willie Walsh, head of airline industry body IATA, told the conference airlines shouldn't expect traditional oil producers to meet the industry's needs.

"There has to be greater sharing of the burden to ensure that the industry, everybody can make it to net zero," he said.

Consumers aren't willing to fork out either, with many airlines saying less than 5% of customers fund carbon offsets or SAF surcharges they offer.

Many complain that action is pointless until huge emerging market emitters like China and India agree to play their part, one executive said.

SPEEDING UP

Some airlines called on the EU to do more to catch up with the United States, where the Inflation Reduction Act is spurring spending.

British Airways owner IAG made its first major investments in SAF in the United States, including a commitment to buy 220,000 tonnes from a Mississippi biorefinery in 2021, because U.S. policy is "much more joined up," said Leigh Hudson, IAG's sustainable fuels and carbon manager.

With the right policy support, 30 SAF plants could be built across Europe over the next eight years, she said in an emailed statement.

Ryanair in December agreed to buy its SAF from Shell in an early step towards its target of powering 12.5% of flights with the fuel by 2030.

While it is too soon to say how realistic the 2030 targets are, reaching 2% by 2026 was a vital first step, its director of sustainability Thomas Fowler said.

"If they get the first 2% over the line, then we'll have a good sense," he told Reuters. (Additional reporting by Tim Hepher and Tommy Reggiori Wilkes Editing by Josephine Mason and Mark Potter)

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28 Jul 2023 16:58

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28 Jul 2023 12:34

Air France-KLM's rising costs overshadow profit beat

Q2 operating profit 733 mln euros vs forecast 663 mln

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28 Jul 2023 11:47

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(Alliance News) - Stock prices in London were mixed at midday on Friday, after a busy week of earnings comes to an end.

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28 Jul 2023 09:27

TOP NEWS: IAG to restore flight capacity to pre-pandemic by year-end

(Alliance News) - International Consolidated Airlines Group SA on Friday said it will return its flying capacity back to the level seen before the Covid-19 by the end of 2023, as it reported a dramatic swing to profit in the first half of the year.

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28 Jul 2023 08:52

British Airways-owner IAG beats forecasts, but wary on outlook

Q2 profit 1.25 bln euros vs 895 mln forecast

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28 Jul 2023 07:54

LONDON BRIEFING: NatWest posts interim growth; IAG swings to profit

(Alliance News) - Stocks in London are called slightly lower on Friday, with investors having plenty to consider amid the week's swathe of corporate earnings and central bank decisions.

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28 Jul 2023 07:35

BA owner IAG posts record first-half operating profit

(Sharecast News) - British Airways and Iberia owner IAG posted a record first-half profit on Friday as it hailed a strong performance across the group.

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26 Jul 2023 10:34

UK's Heathrow warns of leisure travel slowdown later this year

First-half pretax profit up 6%

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25 Jul 2023 14:08

Mercia Asset Management investee wins IAG investment

(Alliance News) - Mercia Asset Management PLC on Tuesday said that one of its direct investments Nova Pangaea Holdings Ltd has received an investment from International Consolidated Airlines Group SA.

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21 Jul 2023 15:38

UK earnings, trading statements calendar - next 7 days

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20 Jul 2023 11:33

Transatlantic travel sets up European airlines for bumper earnings

LONDON/CHICAGO, July 20 (Reuters) - North American tourists thronging the streets of Europe's top destinations are set to fuel healthy earnings for airlines this quarter and onwards as they enjoy travelling after long pandemic lockdowns, analysts and aviation executives said.

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17 Jul 2023 09:20

LONDON BROKER RATINGS: JPMorgan cuts Spectris; Berenberg likes Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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16 Jul 2023 11:44

Sunday newspaper round-up: Tesco, Green Agenda, EasyJet

(Sharecast News) - Tesco is leaning on its suppliers so that they pass on savings from falling costs so that it can reduce prices more quickly than rivals and thus lead on price cuts. Among other factors, on Thursday Tesco pointed to a halviing in wholesale electricity prices, a 22% reduction in PET packaging and an 84% fall in the cost of freight. Suppliers however said that other costs had continued to rise - not least wages. And in response to prodding by MPs, Asda co-owner, Mohsin Issa, has cautioned that fixed-term contracts meants that three to nine more month would be needed before customers benefitted from falling prices. - The Sunday Times

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14 Jul 2023 14:37

Strikes at Britain's Gatwick Airport could hit summer holidays

950 workers to strike in pay dispute

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14 Jul 2023 09:13

LONDON BROKER RATINGS: HSBC says 'buy' AstraZeneca but 'reduce' GSK

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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