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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BP    BP.   GB0007980591

BP

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BP : The Aviation Sector is Working Together for Fossil-Free Aviation from Kalmar

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12/07/2018 | 06:47am EST

Kalmar land Airport and Kalmar Municipality, together with airlines SAS and BRA and fuel supplier Air BP, have cooperated to meet a 5 percent biofuel target on all flights from Kalmar to Stockholm.

Kalmar land Airport has, together with its owner Kalmar Municipality, been working actively for many years to create the conditions to secure funding for the additional cost of aviation biofuel, with a long-term goal of having fossil-free aviation from Kalmar. As a first step towards fossil-free fuel locally, domestic flights between Kalmar and Stockholm flew on biofuel during the Kalmarsundsveckan 2017 sustainability week.

The next step in the process was to establish the conditions for funding the aviation biofuel more broadly. During this process, both Kalmar Municipality and the airport, and many of the municipal companies, took the decision that all their own business travel on flights from Kalmar should be powered by biofuel. The procurement of aviation biofuel, equivalent to three years supply, for Kalmar Municipality took place this autumn.

As part of the project, airlines SAS and BRA are coming on board too and joining forces with Kalmar Municipality and Kalmar land Airport, which represents a unique investment in aviation biofuel for the industry and the region.

The cooperation between these organisations is proof that with combined strength you can make things happen when you look at the bigger picture rather than just individual benefit, explains Ronny Lindberg, managing director and head of Kalmar land Airport.

The approximate 80 tonnes of biofuel required for flight services from Kalmar to Stockholm in 2019 will be supplied by Air BP to Kalmar land Airport for SAS and BRA to refuel their aircraft. Together, the airlines will finance 50 percent of the additional cost of the biofuel, whilst Kalmar land Airport, as the representative for the region, will secure financing for the remaining 50 percent.

Air BP is delighted to be able to support our client airlines and airports to reduce the environmental impact of aviation. This is an important first step that has been taken for all passengers between Kalmar and Stockholm to reduce their emissions and we are proud to be part of this cooperation, adds Thorbjrn Larsson, general manager of Air BP Nordics.

On Nov. 29, coinciding with a large delivery of aviation biofuel, representatives from the various organisations met at Kalmar land Airport to talk about the cooperation, the challenges and the industrys transition.

For us at BRA, access to biofuel is essential to successfully achieve fossil-free domestic air travel in the future. We need large-scale, continuous production nearby in order to have access to sustainably produced biofuel for reasonable pricing, explains Anna Soltorp, head of sustainability at BRA.

(c) 2018 All Rights Reversed for Saudi Press Agency Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 276 B
EBIT 2019 20 805 M
Net income 2019 12 598 M
Debt 2019 41 867 M
Yield 2019 5,78%
P/E ratio 2019 12,05
P/E ratio 2020 10,66
EV / Sales 2019 0,67x
EV / Sales 2020 0,64x
Capitalization 142 B
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Average target price 8,02 $
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