-- JetBlue Launches New Partnership with World
Energy and World Fuel Services to Fuel Flights from its Los Angeles
Focus City with Sustainable Aviation Fuel --
JetBlue (Nasdaq: JBLU) has entered into a new relationship with
World Energy and World Fuel Services for sustainable aviation fuel
(SAF) at Los Angeles International Airport (LAX). JetBlue’s LAX
flights using SAF started this month. This increase in the
airline’s usage of SAF includes 1.5 million gallons of blended SAF
a year for at least three years, accounting for approximately five
percent of JetBlue’s LAX fuel.
Renewable fuel options will play a critical role in the aviation
industry’s transition to lower-carbon operations. This is the
latest step for JetBlue as the airline works to achieve its
ambitious and comprehensive environmental social governance (ESG)
targets, including a goal of net-zero carbon emissions by 2040.
Last year, JetBlue became the first major U.S. airline to achieve
carbon neutrality on all domestic flying, today primarily through
carbon offsets while the SAF industry continues to grow, and
lower-carbon technologies to reduce direct emissions.
“JetBlue is facing climate change head on and preparing our
business for a new climate reality,” said Sara Bogdan, director of
sustainability and environmental social governance. “Sustainable
aviation fuel is one of the most promising ways to rapidly reduce
air travel emissions and help our industry move toward our net-zero
goals. We are focused on growing our use of sustainable aviation
fuel to replace conventional fossil-based jet fuel in our focus
cities as it becomes available. It has not historically had the
same policy support as other low carbon fuels and comes at a
premium today. We’re excited by the prospect of additional policy
support to help grow and scale sustainable aviation fuel, helping
to usher in a lower-carbon future for aviation.”
This follows JetBlue’s move to fuel flights from San Francisco
International Airport (SFO) with SAF with another fuel provider.
World Energy, a zero-now solutions provider for transport and the
industry’s first commercial-scale producer of SAF, is supplying
JetBlue fuel at LAX from its facility in Paramount, Calif. JetBlue
is World Energy’s second U.S. commercial airline partner to
incorporate SAF into its regular operations. Made from inedible
agricultural waste, World Energy’s SAF is certified by the
Roundtable on Sustainable Biomaterials to reduce emissions by up to
80 percent per gallon before being blended with petroleum jet fuel.
Delivery of the fuel into LAX will be managed by World Fuel
Services, JetBlue’s fuel management company.
“JetBlue is taking aggressive action utilizing tools available
today to deliver on their net-zero carbon emissions goals,” said
Bryan Sherbacow, chief commercial officer, World Energy. “Expanding
commercial use of sustainable aviation fuel is critical in changing
the industry’s carbon outcomes. World Energy is excited to partner
with JetBlue in fueling their success in transitioning to a
zero-carbon aviation industry.”
“We are honored to support JetBlue’s comprehensive
sustainability strategy through our steady supply of sustainable
aviation fuel,” said Brad Hurwitz, senior vice president – supply
and trading, World Fuel Services. “Since 2014, World Fuel Services
has delivered more than 22.1 million gallons of cleaner-burning,
low-carbon sustainable aviation fuel. With World Energy, we
continue to focus on increasing sustainable aviation fuel
availability and supply chain efficiency for aviation.”
JetBlue views robust oversight of key ESG issues as good for
business and for generating long-term value, and recognizes that
customers expect clean, efficient, and affordable travel. That’s
why JetBlue is helping lead the path in sustainable aviation.
LAX is one of JetBlue’s most successful and busiest markets,
climbing to 40 flights per day to 23 markets this summer, allowing
significant growth opportunities for the airline’s network. With
support from Los Angeles World Airports (LAWA), JetBlue plans to
embark on meaningful expansion at LAX over the next five years –
both domestically and internationally into multiple markets with
plans to reach about 70 flights per day by 2025.
“Los Angeles World Airports (LAWA) is committed to achieving
ambitious sustainability goals, including net-zero carbon emissions
and 100% renewable energy for LAX facilities by 2045,” said Justin
Erbacci, chief executive officer, LAWA. “We are thrilled that
JetBlue is supporting this bold agenda to help combat climate
change through the use of sustainable aviation fuel.”
JetBlue’s Decarbonization Strategy
Carbon neutrality on its domestic flights is just one way
JetBlue is preparing for a changing climate and ensuring a more
sustainable business for its crewmembers, customers, shareholders
and communities. JetBlue’s carbon reduction efforts focus on
decreasing emissions through fuel-efficient operations and
aircraft, growing usage of SAF, and supporting the next generation
of low-emissions aircraft technologies.
Earlier this year the airline announced emission reduction
targets, including efforts to:
Reduce direct emissions:
- Decrease aircraft emissions 25 percent per available seat mile
(ASM) by 2030 from 2015 levels, excluding offsets
Increase usage of sustainable energy:
- Convert 10 percent of total jet fuel to be from blended
sustainable aviation fuel (SAF) by 2030
- Convert 40 percent of three main ground service equipment
vehicle types to electric by 2025 and 50 percent by 2030
JetBlue’s focus on climate leadership – JetBlue’s
environmental social governance (ESG) strategy focuses on issues
that have the potential to impact its business and the industry in
the long-term. Customers, crewmembers and community, as well as
stakeholders, are key to JetBlue's climate and sustainability
strategy. Demand from these groups for responsible service is one
of the motivations to further reduce the airline’s environmental
impact. Shareholders, including many crewmembers, have demanded
that JetBlue’s ESG strategy benefit stakeholders and the airline’s
financial position. Tying ESG to its treasury function, including
cash investments and a sustainability-linked loan with some terms
dependent on the airline’s ESG scores, further demonstrates
JetBlue’s commitment to combat climate change.
JetBlue’s 2019 Environmental Social Governance (ESG) Report
identifies key sustainability factors that affect the airline’s
business and financial performance. For more information, visit
jetblue.com/sustainability.
About JetBlue Airways
JetBlue is New York's Hometown Airline®, and a leading carrier
in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San
Juan. JetBlue carries customers across the U.S, Caribbean, and
Latin America. For more information, visit jetblue.com.
About World Energy
World Energy exists to deliver ever-better solutions at scale to
those leading the push to net-zero carbon transport. We empower
those committed to net-zero carbon to cut emissions now. We operate
a growing network of integrated fueling facilities to enable
customers to meet their reduction commitments while growing their
business. For more information, visit www.worldenergy.net.
About World Fuel Services
Headquartered in Miami, Florida, World Fuel Services is a global
energy management company involved in providing supply fulfillment,
energy procurement advisory services, and transaction and payment
management solutions to commercial and industrial customers
worldwide. World Fuel Services sells and delivers liquid fuels,
natural gas, electricity, renewable energy, and other
sustainability solutions to its clients at more than 8,000
locations in more than 200 countries and territories through its
Marine, Aviation, and World Kinect Energy Services divisions.
For more information visit www.wfscorp.com or
www.world-kinect.com.
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