London, Dec. 8 (Korea Bizwire) – VistaJet, the first and only global business aviation company, continues to push forward with its plan for more sustainable aviation solutions and announces an agreement with AEG Fuels to purchase Sustainable Aviation Fuel (SAF) produced by OMV at Vienna International Airport. Leading the industry by integrating a series of environmental initiatives throughout its operations, the agreement accelerates VistaJet’s journey to carbon neutrality by 2025.
VistaJet’s commitment to replace over 200,000 USG of conventional jet fuel consumption with a blended SAF is expected to generate over 165,000 kg of CO2 reduction — an 80% emissions improvement over the lifecycle of the fuel compared to conventional jet fuel. This SAF is produced in compliance with the EU Renewable Energy Directive (EU RED).
Thomas Flohr, Founder and Chairman, VistaJet said: “Together as an industry we can reshape the way we conduct business. At VistaJet, we are very proud of the progress we have made and we hope that others will adopt our recommendations. Businesses are rightfully being held accountable for their environmental impact and our agreement with AEG Fuels not only helps in reducing GHG emissions, but goes hand in hand with our ongoing efforts to practice higher sustainability to protect the local communities in the countries we operate, spanning 96% of the world.”
Stephen J. Leonard, Vice President of Global Supply, AEG Fuels said: “Business and corporate jet operators are going to be key stakeholders in aviation’s decarbonization plans as we work to achieve net-zero. We’re very excited to support VistaJet’s efforts to push our industry forward and provide a framework for future SAF agreements. Their individual efforts are supporting critical investments in sustainable solutions for producers and consumers in the space.”
Founded in 2004, VistaJet revolutionized business aviation from its inception, providing access to a global fleet without the need to own an aircraft. This new way to fly means fewer aircraft produced, and also reduced repositioning flights, as the fleet is managed on a floating model instead of the wasteful hub-and-spoke system.
Private aviation has seen unprecedented growth since the pandemic, as travel continues to be a necessity for companies to ensure business continuity and point-to-point connections on fuel-efficient smaller aircraft. VistaJet is simultaneously making every effort to reduce the industry’s impact on the environment.
Proving its commitment to change, in April 2021 VistaJet pledged to be fully carbon neutral across its entire business by 2025. Urging the aviation industry to step up and do its part to combat climate change, VistaJet’s commitment is also aimed at pushing the sector to go further than the current goal of net-zero carbon emissions by 2050 set by the civil aviation industry bodies and IATA. Only a multi-party contribution can reduce impact in scale and bring about an industry-wide transformation to drive systemic transformation.
To capture the progress the company has made with its market-leading environmental sustainability initiatives, VistaJet also published A 2022 Action Handbook for Change in Business Aviation, developed in collaboration with climate solutions provider and carbon project developer South Pole. The whitepaper examines in detail how the aviation sector should respond to the climate crisis and identifies real solutions, including the most effective ways for business aviation companies to minimize the industry’s carbon footprint.
While offsets and SAF are the main options currently available to reduce carbon footprint, VistaJet continues to actively seek and invest in new developments to help push beyond the current limitations, looking at new technology and innovations to further reduce GHG footprint in line with the latest available science. Following years of research, innovative technology exploration and working with clients, the industry and regulatory bodies, VistaJet already has:
- Worked to make the adoption of carbon offsetting by VistaJet Members grow to over 85%;
- Provided global access to SAF no matter where clients are traveling from while continuing to advocate externally for the widespread adoption of SAF in the industry;
- Used AI to maximize fleet optimization to improve fuel-efficient consumption by 8%;
- Refined its fleet sharing model to continue driving fleet efficiencies;
- Added 16 new Global 7500 aircrafts to the fleet, the first business jet with a third-party verified Environmental Product Declaration (EPD). The high-speed transonic wings of the Global 7500 cut down on drag, reducing fuel burn and emissions while its GE passport Engines have a reduce fuel consumption of approximately 2.5 liters per functional unit;
- Ensured single-use items were kept to a minimum, having achieved an over 90% reduction in their use on board all aircraft and replaced them with sustainable alternatives;
- Continued its policy of transparency, publishing in full its greenhouse gas (GHG) emissions and Task Force on Climate-Related Financial Disclosure (TCFD) reports. These audits enable the company to identify the carbon footprint of its operations and offices worldwide and further define its opportunities and priorities.
VistaJet is the first and only global business aviation company. On its fleet of silver and red business jets, VistaJet has flown corporations, governments and private clients to 187 countries, covering 96% of the world.
Founded in 2004, the company pioneered an innovative business model where customers have access to an entire fleet whilst paying only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership. VistaJet’s signature Program membership offers customers a bespoke subscription of flight hours on its fleet of mid and long-range jets, to fly them anytime, anywhere.
VistaJet is part of Vista — the world’s first private aviation ecosystem, integrating a unique portfolio of companies offering asset-light solutions to cover all key aspects of business aviation.
More VistaJet information and news at vistajet.com
VistaJet Limited is a European air carrier with Maltese Air Operator Certificate No. MT-17 and is incorporated in Malta under Company Number C 55231. VistaJet US Inc. is an Air Charter Broker that does not operate aircraft. VistaJet and its subsidiaries are not U.S. direct carriers. VistaJet-owned and U.S. registered aircraft are operated by properly licensed U.S. air carriers.
About Associated Energy Group, LLC (AEG Fuels)
Associated Energy Group, LLC (AEG Fuels) is a global aviation fuels and services supply chain management company. The company’s core business is the marketing and financing of fuel supply and logistics solutions for the world’s largest airlines, militaries, and corporate operators. AEG is dedicated to delivering value to aircraft operators by providing comprehensive aviation solutions and unparalleled service on a global basis. Through AEG customers can access a full array of solutions powered by strategic relationships with multinational energy companies and logistics providers on every continent. The geographic and operational scale of AEG’s product offering and technology platform provide AEG a competitive advantage and ensure customers operational excellence. AEG also focuses on supporting customers in achieving their goals of environmental integrity through the integration of SAF and Carbon Credits into their regular fuel programs. AEG is headquartered in Miami, Florida USA and hosts offices in London, Dubai, Singapore, Toluca, Houston, and Tahoe.
About OMV Aktiengesellschaft
With Group sales revenues of EUR 36 bn and a workforce of around 22,400 employees in 2021, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Refining & Marketing business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 2,100 filling stations in ten European countries. In addition, the activities include Gas & Power Eastern Europe where it also operates a gas-fired power plant in Romania. In Exploration & Production, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2021 included production from a joint venture in Russia and amounted to 486,000 boe/d with a focus on natural gas (~60%). As of March 1, 2022, Russian entities are no longer consolidated. Its activities include Gas Marketing Western Europe, where it also operates gas storage facilities in Austria and Germany.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
Source: VistaJet International Ltd via GLOBE NEWSWIRE