Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Finland
  4. Nasdaq Helsinki
  5. Neste Oyj
  6. News
  7. Summary
    NESTE   FI0009013296


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Neste Oyj : and Jetflite to offer lower-emission private business flights in Finland ‒ the first flight to take place in May 2021

05/04/2021 | 05:07am EDT
Business aviation company Jetflite is a first-mover in offering lower-emission private business flights in Finland. Jetflite is committed to sustainable aviation and is now taking the first steps in reducing greenhouse gas emissions with Neste MY Sustainable Aviation Fuel™. In its neat form, the fuel helps reduce life cycle greenhouse gas emissions by up to 80%* compared to fossil jet fuel use. The first lower-emission flight by Jetflite will take place in May 2021.

Jetflite, belonging to a large Finnish industrial conglomerate Wihuri Group, specializes in business flights, group charter, and air ambulance. Jetflite is also managing aircraft and offering air cargo services. Jetflite wants to respond to its clients' need to increase their contribution towards combating climate change as part of the Frankly Wihuri Sustainability Program.

"Flying has been challenging during the pandemic due to increased regulation and closed borders. Still, the number of flights has remained high as we can operate evacuation and air ambulance flights. With the vaccinations in place and countries opening up, we predict the need for business aviation to start increasing. During that time, we want to be able to offer lower-emission flights and help our customers to reduce their carbon footprint of business flying significantly", says Jan Lindholm, Head of Sales at Jetflite.

Jetflite has five aircraft in its fleet. The company also has an extensive network of partner operators offering altogether 600 to 700 flights per year, under normal circumstances.

Partnership supports ambitious climate goals
The aviation industry has already taken steps in the right direction by committing to the target of achieving carbon-neutral growth from 2020 onwards. Neste is committed to helping the aviation industry with this target.

"Neste and Jetflite have been collaborating for over 5 years on delivering fuels for the flights at Helsinki airport in Finland. This is now our first step in partnering to reduce the carbon footprint of business flights that Jetflite offers. Neste MY SAF is already available in many airports in Europe, North America and Asia and it's a great pleasure to be able to offer it also to a private business flight operator in Finland. The fuel use provides an immediate solution for reducing the greenhouse gas emissions of flying. It's fully compatible with the existing jet engine technology and fuel distribution infrastructure. Therefore, no additional investments or modifications to the aircraft or fuel distribution infrastructure are needed", says Tuomas Kulola, Head of Sales, Marketing & Services, Neste.

Neste continues to make the sustainable aviation fuel available for airlines but also to businesses, public institutions and other organizations with ambitious climate commitments. The partnership between Neste and Jetflite and the collaboration recently announced with Finnair serve as showcases for other businesses to reduce business air travel emissions.

In the US and Europe, Neste's annual sustainable aviation fuel supply capacity is currently 100,000 tons. With the Singapore refinery expansion on the way, Neste will have the capacity to produce over 1.5 million tons of sustainable aviation fuel in 2023, including the recently announced additional investment in Rotterdam.

*) The method used to calculate life cycle emissions and emission reduction complies with the EU Renewable Energy Directive (2009/28/EC). Based on this method, Neste MY Sustainable Aviation Fuel in its neat form and over the life cycle helps reduce greenhouse gas emissions by up to 80% compared to fossil jet fuel use.

Neste Corporation

Susanna Sieppi
Vice President, Communications

Further information: Tuomas Kulola, Head of Sales, Marketing & Services, Neste. Please contact Neste's media service, tel. +358 50 458 5076 / media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET).
Jan Lindholm, Head of Sales, Jetflite. Contact information: +358 44 039 5694 / jan.lindholm@jetflite.fi.

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

Jetflite in brief

Jetflite is a Finnish business aviation company that specializes in long-distance ambulance and evacuation services, corporate business flights and the operation of business aircraft. Over the past 50 years, the company has grown into one of the largest and most reliable players in Northern Europe. Jetflite is part of the Finnish Wihuri Group, and as part of the Group's Frankly Wihuri Sustainability Program, wants to increase its contribution to combat climate change.
Image icon Photo: Jetflite


Neste Oyj published this content on 04 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2021 09:06:16 UTC.

© Publicnow 2021
All news about NESTE OYJ
05/07NESTE OYJ  : Corporation - Managers' Transactions, Lehmus (disposal)
05/06“CHANGE RUNS ON RENEWABLES&RDQ : Neste's transformation is done with renew..
05/06NESTE OYJ  : Expands Renewable Product Portfolio with RE
05/05NESTE OYJ  : opens new renewable diesel fueling stations in Southern California
05/04NESTE SELECTED AS WINNER IN “E : +15 years in business” category of ..
05/04NESTE OYJ  : and Jetflite to offer lower-emission private business flights in Fi..
05/04NESTE OYJ  : Teams Up With Jetflite For Low-Emission Private Flights in Finland
04/29NESTE OYJ  : to enable production of up to 500,000 tons/a of Sustainable Aviatio..
04/29NESTE OYJ  : To Upgrade Dutch Plant To Produce Sustainable Aviation Fuel
04/29NESTE OYJ  : Q1 Profit Up, Revenue Slips Amid Weak Refining Market, Oversupply D..
More news
Sales 2021 12 799 M 15 561 M 15 561 M
Net income 2021 1 239 M 1 507 M 1 507 M
Net Debt 2021 199 M 241 M 241 M
P/E ratio 2021 32,4x
Yield 2021 1,54%
Capitalization 39 719 M 48 273 M 48 293 M
EV / Sales 2021 3,12x
EV / Sales 2022 2,85x
Nbr of Employees 4 780
Free-Float 53,6%
Duration : Period :
Neste Oyj Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NESTE OYJ
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 21
Average target price 55,21 €
Last Close Price 51,72 €
Spread / Highest target 45,0%
Spread / Average Target 6,76%
Spread / Lowest Target -55,5%
EPS Revisions
Managers and Directors
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
Willem Jan Antoon Schoeber Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
NESTE OYJ-12.58%48 273
BP PLC23.06%88 802