Ryanair will buy sustainable aviation fuel at Italian airports from a subsidiary of oil giant Eni under a deal confirmed on Monday.
The Irish airline said that it has signed a letter of intent with for the long-term supply of sustainable aviation fuel with Enilive, which is 100 per cent controlled by Eni.
The business will supply up to 33 million gallons of the fuel, meant to cut aircraft carbon emissions, to Ryanair, between next year and 2030 at selected airports across Italy.
According to the airline, this is enough fuel to power 20,000 flights from Milano Malpensa Airport to Dublin.
Ireland has won the corporation tax game for now, but will that last?
Corkman leading €11bn development of Battersea Power Station in London: ‘We’ve created a place to live, work and play’
Elf doors, carriage rides and boat cruises: Christmas in Ireland’s five-star hotels
One in four PAYE workers are overpaying tax. Can you claim money you’re owed?
Sustainable fuel is blended with the kerosene normally used to power aircraft to reduce their emissions.
The air travel industry maintains that this is the simplest way to cut carbon output while the EU recently passed new laws requiring that aircraft fly on 70 per cent renewable fuels by 2050.
Thomas Fowler, Ryanair’s director of sustainability, predicted that the deal would aid the airline in reaching its goal of using 12.5 per cent sustainable fuel by 2030 and reaching “net zero” emissions 20 years later.
“Eni is a key supplier in our largest market, Italy, and their success in producing sustainable aviation fuel will play a significant role as our group grows to carry 300 million passengers by 2034,” he added.
Stefano Ballista, chief executive, Enilive, noted the company was agreeing the deal as the EU called for increased adoption of sustainable aircraft fuel.
“Enilive plans to boost it biorefining capacity to over five million tonnes a-year by 2030 and it is focused on developing new projects to expand its biorefining capacity,” he said.
