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    RYA   IE00BYTBXV33

RYANAIR HOLDINGS PLC

(RYA)
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Ryanair : And OMV Sign 160,000 Tonne SAF Deal

09/14/2022 | 06:50am EST

Ryanair, Europe's largest airline, and OMV, the international integrated oil, gas and chemicals company headquartered in Vienna, have today (14th Sept) signed a Memorandum of Understanding (MoU) to supply sustainable aviation fuel (SAF) at Ryanair airports across Austria, Germany and Romania. While limited production of SAF remains a global aviation issue, this MoU gives Ryanair unique access to purchase up to 160,000 tonnes (53m gallons) of SAF from OMV over the next 8 years, saving over 400,000 tonnes in CO2 emissions (equivalent to c.25,000 Ryanair flights from Dublin to Vienna).

This landmark deal demonstrates Ryanair's continued commitment towards 12.5% SAF by 2030 target and the airline's ambition to reach net-zero emissions by 2050. Ryanair has already made significant progress towards its environmental goals through its $22bn investment in its new Boeing 737 'Gamechanger' fleet, which produce 16% less emissions and 40% less noise; the Sustainable Aviation Research Centre in Trinity College Dublin, and now its partnership with OMV, who is also advancing its ambitious strategic sustainability goals by adding SAF to its product range among several other measures.

Speaking from Vienna, Ryanair's Director of Sustainability, Thomas Fowler said:

"SAF plays a key role in our Pathway to Net Zero decarbonisation strategy in which we have committed to increasing our use of SAF over the coming years - a commitment that this deal with OMV will help move further forward. OMV is a key partner for Ryanair in Austria, Germany and Romania and we look forward to growing this partnership as Europe's largest airline Group."

Nina Marczell, OMV Vice President Aviation, Fuels Distributors & Public Sector:

"We are committed to reducing our own carbon footprint as well as supporting our customers in reducing theirs. This Memorandum of Understanding is a great opportunity to accelerate both companies' sustainability efforts. Sustainable aviation fuel significantly reduces CO2 emissions, and we are delighted to collaborate with a strong partner like Ryanair and to provide solutions for the sustainable development of the aviation industry."

Disclaimer

Ryanair Holdings plc published this content on 14 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2022 10:49:02 UTC.


ę Publicnow 2022
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Sales 2023 10 450 M 10 866 M 10 866 M
Net income 2023 1 143 M 1 188 M 1 188 M
Net Debt 2023 941 M 979 M 979 M
P/E ratio 2023 13,3x
Yield 2023 -
Capitalization 14 840 M 15 431 M 15 431 M
EV / Sales 2023 1,51x
EV / Sales 2024 1,26x
Nbr of Employees 19 000
Free-Float 96,0%
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Michael OĺLeary Chief Executive Officer & Executive Director
Neil Sorahan Treasurer
Stan McCarthy Non-Executive Chairman
John Hurley Chief Technology Officer
Julie O'Neill Independent Non-Executive Director
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