Turkish Airlines has signed an agreement to participate in SAFFA Fund I, LP, an investment fund managed by Burnham Sterling Asset Management (BSAM) that aims to accelerate the development and production of sustainable aviation fuel (SAF).
The move supports the airline’s long-term growth strategy, sustainability
goals and efforts to strengthen aviation fuel supply security.
Launched in December 2023, SAFFA Fund focuses on expanding SAF production
capacity by investing in technologically mature projects across different
production methods and regions.
Managed by BSAM and anchored by Airbus, the fund includes participation
from major airlines and global aviation and financial institutions.
Turkish Airlines’ investment will provide greater access to SAF initiatives
while enabling the carrier to engage in projects involving sustainable fuel
technologies, feedstock development and future supply chains.
The partnership also strengthens the airline’s sustainability collaboration
with Airbus and supports efforts to reduce aviation-sector carbon emissions.
Levent Konukcu, Turkish Airlines Chief Investment & Strategy Officer, stated: “With this
investment in the SAFFA Fund we aim not only to contribute to the development
of the sustainable aviation fuel ecosystem but also to maintain our active role
in supporting innovative projects that shape the future of the industry. The
strong international collaborations established through the SAFFA Fund will
enable us to reinforce our supply security and contribute to the transformation
of the global aviation sector while supporting our access to sustainable
aviation fuels.”
Michael Dickey Morgan, Executive Managing Director of Burnham Sterling
Asset Management, added: “SAFFA Fund was built to channel capital into SAF
projects across a mix of investments and geographies. Turkish Airlines'
investment adds scale to that strategy and evidences the confidence the Fund's
participants have in this asset class. Turkish Airlines' commitment to the
SAFFA Fund is a strong signal that the world's leading carriers see this
transition as essential for the long term. We're proud to help drive that
progress forward.” -TradeArabia News Service