Boeing Buys 9.4 Million Gallons of Blended SAF - its Largest Annual Purchase Yet - for U.S. Commercial Operations

(Arlington, Virginia) Boeing Co. (NYSE: BA) announced today that it is buying 9.4 million gallons (35.6 million liters) of blended sustainable aviation fuel (SAF) to support its 2024 U.S. commercial operations, marking the company’s largest annual SAF purchase to date - the 2024 purchase is more than 60% higher than Boeing's SAF buy in 2023.

A photo of the 2023 Boeing ecoDemonstrator, courtesy of Boeing.

The blended fuel – 30% SAF made from waste by-products such as fats, oils, and greases and 70% conventional jet fuel – will support the Boeing ecoDemonstrator program and Boeing U.S. commercial operational flights, per today’s press release from Boeing.

"As our focus remains on safety and quality, sustainability continues to be a priority," said Ryan Faucett, vice president of environmental sustainability at Boeing. "Sustainable aviation fuel is essential to decarbonize aviation. About 20% of our fuel usage is a SAF blend, and we continue to increase our use of this fuel to encourage growth in the SAF industry. We are also working to make SAF more available and affordable to our commercial airline customers through collaboration, investment, research and policy development."

Unblended, or "neat" SAF, can reduce carbon emissions up to 85% over the fuel's life cycle and offers the commercial aviation industry's greatest potential to reduce its climate impact over the next 30 years, per Boeing.

Boeing will receive four million gallons of the blended SAF into its fuel farms in the Pacific Northwest; EPIC Fuels, a Signature Aviation company, will supply 2.5 million gallons from Neste (Neste Oyj (NESTE.HE), and Avfuel will provide 1.5 million gallons of blended SAF from Neste.

Photo of an aircraft being fueled courtesy of Boeing.

Boeing will purchase the C02 emissions reduction associated with the remaining 5.4 million gallons of blended SAF through the book-and-claim accounting system, which allows a company to purchase SAF certificates to displace conventional jet fuel. Rather than putting the fuel into a Boeing fuel farm, distributors will deliver it to nearby airports for use by airlines and other carriers, per Boeing.

Through Boeing's book-and-claim purchases, EPIC Fuels will supply 3.5 million gallons of blended SAF made by Neste, while World Fuel Services, a World Kinect (NYSE: WKC) company, will supply 1.9 million gallons from World Energy.