India, July 23 -- Turkish Airlines, the airline that flies to more countries than any other airline, signed an agreement to participate in SAFFA Fund I, LP (SAFFA Fund or Fund), an investment fund managed by Burnham Sterling Asset Management LLC (BSAM) with an objective to accelerate the production of sustainable aviation fuel ("SAF"), in line with its long-term growth strategy, sustainability-focused targets, and supply chain security vision.
Strategic Investment in Sustainable Aviation Fuel (SAF)
- Fund Participation: Turkish Airlines signed an agreement to invest in SAFFA Fund I, LP, managed by Burnham Sterling Asset Management LLC (BSAM).
- Fund Objective: Accelerate production of sustainable aviation fuel (SAF) to support aviation's carbon reduction targets.
- Anchor Investor: Airbus is the anchor investor, alongside other leading airlines and financial institutions.
SAFFA Fund Overview
- Established: December 2023.
- Focus: Invests in SAF projects that have reached technological maturity.
- Portfolio Strategy: Diversified across different production technologies and regions to strengthen supply chain security.
Turkish Airlines' Goals
- Supply Chain Security: Ensures access to SAF and strengthens Turkiye's aviation fuel supply resilience.
- Sustainability Alignment: Deepens collaboration with Airbus and other partners on shared sustainability objectives.
- Industry Leadership: Positions Turkish Airlines closer to feedstock development and technology projects shaping aviation's future.
Key Statements
- Levent Konukcu (Chief Investment & Strategy Officer, Turkish Airlines): Emphasized contributing to SAF ecosystem development and reinforcing supply security through international collaborations.
- Michael Dickey Morgan (Executive Managing Director, BSAM): Highlighted Turkish Airlines' investment as a.....
Published by HT Digital Content Services with permission from Travel Media.