Turkish Airlines joins SAFFA Fund to accelerate sustainable aviation fuel production

Corporate Action
โดย Business Wire·Read original
Summary · why it matters

Turkish Airlines has signed an agreement to participate in SAFFA Fund I, LP, an investment fund managed by Burnham Sterling Asset Management LLC that aims to accelerate the production of sustainable aviation fuel. The fund was established in December 2023 with Airbus as the anchor investor, and its participants also include leading airlines and prominent global aviation and financial institutions. Turkish Airlines' participation supports its access to sustainable aviation fuels and positions the carrier closer to investment, feedstock development, and technology projects shaping the sector's future. Levent Konukcu, deputy general manager of Turkish Airlines, said the investment will help maintain the airline's active role in supporting innovative projects and reinforce its supply security. Michael Dickey Morgan, Executive Managing Director of Burnham Sterling, stated that Turkish Airlines' commitment adds scale to the fund's strategy and signals that leading carriers view the transition as essential for the long term.

Impact on stocks 1

Industrials▲ · 1 stocks
Airbus Group SE
AIR
▲ PositiveDemandrelevance

Airbus is anchor investor in SAFFA Fund; fund's growth signals increased demand for sustainable aviation fuel, benefiting Airbus' SAF-related technology and investment.

Off-coverage companies 2

Turkish AirlinesPrivate▲ Positive
Supplyrelevance

Turkish Airlines joins SAFFA Fund to secure access to sustainable aviation fuel, enhancing supply security and supporting its sustainability goals.

Burnham Sterling Asset ManagementPrivate▲ Positive
Capitalrelevance

Burnham Sterling manages SAFFA Fund; Turkish Airlines' participation adds scale and credibility to the fund, potentially attracting more investors.

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