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    NESTE   FI0009013296

NESTE OYJ

(NESTE)
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Neste Oyj : SWISS becomes the first commercial airline to fly from Switzerland with Neste MY Sustainable Aviation Fuel

07/13/2021 | 05:11am EST

Swiss International Air Lines (SWISS) has established the first-ever end-to-end logistics chain for importing Neste MY Sustainable Aviation Fuel™ (SAF) to Switzerland in collaboration with various partners. This makes SWISS the first commercial airline to use SAF in its scheduled flight operations from Switzerland.

Aircraft fuel with a renewable, i.e. "biogenic" component has been importable to and usable in Switzerland since 1 July 2021, thanks to new customs provisions. SWISS's first delivery of SAF is sufficient to fuel more than 175 short-haul flights. SAF will be fueled at Zurich Airport via the conventional hydrant system. The Neste SAF blend is Jet A-1 certified, and can be used just like fossil jet fuel on all aircraft types without any modifications to the aircraft or its engines.

Neste's SAF is made from sustainably-sourced renewable waste and residue raw materials. In its neat form, and over its full life cycle, its use can reduce greenhouse gas emissions by up to 80 percent compared to fossil fuels*. Its production has been certified by the independent Roundtable on Sustainable Biomaterials (RSB) in April this year.

"We are very pleased to welcome SWISS to the ever-growing ranks of major airlines that are using Neste MY Sustainable Aviation Fuel," says Jonathan Wood, Neste's Vice President Europe, Renewable Aviation. "This first-ever delivery of SAF to Switzerland for commercial airline use is a major milestone for us at Neste."

SWISS has been working with the Lufthansa Group for several years to promote research into and the trialing and adoption of sustainable aviation fuels. As a pioneer in the field, the Lufthansa Group conducted the world's first long-term trial of biofuels in Lufthansa's scheduled flight operations in cooperation with Neste as early as in 2011.

*) Calculated with established life cycle assessment (LCA) methodologies, among which EU RED and CORSIA.

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world's leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world's most sustainable companies. In 2020, Neste's revenue stood at EUR 11.8 billion, with 94% of the company's comparable operating profit coming from renewable products. Read more:neste.com

Disclaimer

Neste Oyj published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2021 09:10:01 UTC.


© Publicnow 2021
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Sales 2021 13 913 M 15 756 M 15 756 M
Net income 2021 1 543 M 1 748 M 1 748 M
Net Debt 2021 113 M 128 M 128 M
P/E ratio 2021 20,9x
Yield 2021 1,87%
Capitalization 32 946 M 37 311 M 37 309 M
EV / Sales 2021 2,38x
EV / Sales 2022 2,09x
Nbr of Employees 4 807
Free-Float 53,4%
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Last Close Price 42,90 €
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Peter Vanacker President & Chief Executive Officer
Jyrki Mikael Mäki-Kala CFO, Head-Information Technology & Strategy
Matti Kähkönen Chairman
Lars Peter Lindfors Senior Vice President-Innovation
Jean-Baptiste Renard Independent Non-Executive Director
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