Net zero emissions target for airlines to cost $1.7trn
Excess fuel is dumped from a nozzle protruding from the left wing of a Royal Australian Air Force aircraft. World Economic Forum report reveals costs of transitioning from fossil fuel propulsion of aircraft to alternative forms like electricity and liquefied hydrogen could significantly hike airlines’ operating costs. PHOTO | AFP
Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
Airlines and other aviation stakeholders across the globe will need to spend up to $1.7 trillion to achieve the industry’s net zero emissions by 2050 goal, an investment projected to significantly hurt profits.
An assessment by World Economic Forum (WEF) reveals that the costs of transitioning from fossil fuel propulsion of aircraft to alternative forms like electricity and liquefied hydrogen could significantly hike airlines’ operating costs.
