Avolon, a leading global aviation finance company, has partnered with Airbus to support the development of hydrogen-powered commercial aircraft through Airbus’ ZEROe Project.
Announced at the Farnborough Airshow today, Airbus and Avolon will investigate how future hydrogen-powered aircraft could be financed and commercialised, and how they might be supported by the leasing business model. Airbus revealed its ZEROe hydrogen powered aircraft ambition in 2020, focused on pioneering the technology required for hydrogen flight and developing the ecosystem to support it.
Avolon shares Airbus’ commitment to achieving the aviation sector’s decarbonisation goals, and has a track record of being a thought leader on future technologies through its investment in eVTOL developer Vertical Aerospace, and research into Sustainable Aviation Fuel (SAF) production. Avolon is also committed to having a fleet that comprises 75% new-technology lower emissions aircraft by the end of 2025.
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Paul Geaney, President and Chief Commercial Officer, Avolon, commented: “Joining the ZEROe Project is another step in Avolon’s sustainability journey, and we look forward to building on our long-standing partnership with Airbus to consider how the next generation of aircraft will be financed and commercialised. It will take a wide ecosystem of contributors to meet the challenges of hydrogen powered commercial flight, and Airbus is playing a crucial role in bringing partners together. While we continue to focus on supporting our customers in modernising their fleets with lower emissions aircraft, it is also vital we look beyond that at what can further drive our industry’s decarbonisation.”
Glenn Llewellyn, Vice-President ZEROe Project, Airbus, commented: “There is real value in bringing together industry leaders to help solve the challenges facing aviation. We know we can’t solve decarbonisation alone and welcome Avolon’s expertise and worldwide leadership in the aircraft leasing business. Working together to consider how the transition can be commercialised and financed for airline customers is crucial to success.”
SOURCE: Businesswire