Sustainable aviation fuel to boost private jet purchases: ACJ Survey
Growing demand for sustainable aviation fuel (SAF) will prompt more large US corporations to buy private jets, reveals new research commissioned by Airbus Corporate Jets (ACJ).
A survey of senior executives with S&P 500 companies and other large corporations found that 79% believed a combination of SAF and business aviation’s improving sustainability record would result in more private jet purchases.
The survey found that 43% of respondents who do not currently own a jet but plan to buy one in the next few years attributed their prospective purchase to the growing focus on sustainability.
More than two-thirds (67%) of those who own a business jet and expect to upgrade in the next five years, said they would focus on models that can make greater use of sustainable fuel.
Sean McGeough, vice president, Commercial ACJ for North America said: “Business aviation’s commitment to reducing its impact on the environment makes owning an aircraft more appealing and this is becoming a much more important issue for those buying them.”
ACJ’s research also found that 75% of executives believe that US corporations are looking to make greater use of their aircraft to support their wider ESG (environmental and social governance) strategies. This includes redeploying corporate jets as air ambulances.
McGeough added that ACJ is developing technology that reduces the environmental impact of its aircraft. “For example, our new ACJ TwoTwenty uses advanced materials and technology for lower fuel burn and maintenance costs. It has 50% lower emissions per square metre when compared with large business jets in general,” he said.
The ACJ TwoTwenty is said to have a 20% lower fuel burn compared with older aircraft and is certified to fly with a 50% blend of SAF. ACJ said that its goal is to achieve 100% SAF certification by 2030.
Meanwhile, the conclusions were based on research conducted by Pureprofile, which surveyed 100 senior executives of S&P 500 companies and other large corporations in June 2022.