Neste Corporation, Press Release, 22 February 2023 at 11.00 a.m. (EET)
Photo: Wizz Air
Neste and Wizz Air have agreed on the supply of Neste MY Sustainable Aviation Fuel™ from 2025 onwards. The agreement gives Wizz Air the opportunity to purchase 36,000 tons of Neste-produced sustainable aviation fuel (SAF) per annum over a period of three years for the airline to use across its route network in Europe and the UK.
The SAF volumes to be purchased are a key part of the airline’s environmental strategy to reduce carbon emissions intensity per passenger kilometer by 25% by 2030 and reach net-zero by 2050. In 2022, Wizz Air achieved its lowest ever annual carbon intensity, which amounted to 55.2 grams per passenger/km. The airline has been continuously adding new Airbus A321neo aircraft to its fleet and replacing older aircraft. These aircraft can currently fly with up to 50% SAF blend.
“At Wizz Air, we continue to invest in innovative technology and believe that SAF is a key part of the solution for decarbonizing the aviation industry. The partnership with Neste, the world's leading producer of SAF, reaffirms our progress in reducing our carbon emissions intensity, which is already one of the lowest in the world. Working together with Neste, we will drive the adoption of SAF throughout our network, paving the way to a more sustainable future for aviation,“ said Ian Malin, Executive Vice President and Group Chief Financial Officer at Wizz Air.
“Neste is committed to helping the aviation industry move towards a more sustainable future. This agreement with Wizz Air, one of the industry’s sustainability leaders, shows how we are enabling airlines to use SAF across their route networks. We look forward to working together with Wizz Air on the reduction of their carbon emissions, as we increase our annual SAF production capacity to 1.5 million tons by the end of 2023,” said Jonathan Wood, Vice President Europe, Renewable Aviation at Neste.
Sustainable aviation fuel
SAF is a next generation aviation fuel providing a more sustainable alternative to conventional, fossil based jet fuel. It is widely recognized as a key solution for achieving the aviation sector’s emission reduction goals. Using Neste MY Sustainable Aviation Fuel™ reduces greenhouse gas emissions by up to 80%* over the fuel’s life cycle compared to using fossil jet fuel. Neste MY SAF is produced from sustainably sourced, 100% renewable waste and residue raw materials, including used cooking oil and animal fat waste. SAF is blended with conventional jet fuel and works seamlessly with existing fueling infrastructure and aircraft engines.
*) When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology
Vice President, Communications
Neste: Please contact Neste’s media service, tel. +358 800 94025 / email@example.com (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste’s releases at https://www.neste.com/for-media/releases-and-news/subscribe.
Wizz Air Group: please contact Daria Sergeeva, firstname.lastname@example.org
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2022, Neste's revenue stood at EUR 25.7 billion. Read more: neste.com
About Wizz Air
Wizz Air, the fastest growing European ultra-low-cost airline, operates a fleet of 177 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 27.1 million passengers in the Financial Year F22 ending 31 March 2022. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world's top ten safest airlines by airlineratings.com, the world's only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognising individuals and organisations that have distinguished themselves through outstanding performance, innovation, and superior service. Wizz Air has also been recognised as the „Most Sustainable Low-Cost Airline” within the World Finance Sustainability Awards 2022 and the „Global Environmental Sustainability Airline Group of the Year” by the CAPA-Centre for Aviation Awards for Excellence 2022.