FedEx buys SAF from Neste for express cargo delivery at LAX [Yahoo! Finance]
American Airlines Group, Inc. (AAL)
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Source: Yahoo! Finance
FedEx entered an agreement to purchase 3 million gallons of blended sustainable aviation fuel from SAF and renewable diesel fuel producer Neste. The deal is the ”largest SAF purchase executed by a U.S. cargo airline at LAX to-date,” according to a Tuesday press release Neste will deliver 3 million gallons of 30% unblended renewable jet fuel over a year, and the blended form of its fuel will account for one-fifth of FedEx's projected jet fuel use at LAX for the year, according to the release. FedEx has a goal of hitting carbon neutrality by 2040 , and its Chief Sustainability Officer Karen Blanks Ellis said in the release that, as the world's largest cargo airline service, FedEx needs the SAF market to further grow and develop to hit its goal. SAF still made up less than 1% of global jet fuel use in 2024 and is growing “disappointingly slow,” according to the International Air Transport Association This deal represents FedEx's first major deployment of SAF in the U.S., the compa
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