Turkish Airlines joins sustainable aviation fuel investment fund

Turkish Airlines (THY) has signed an agreement to join SAFFA Fund I LP (SAFFA Fund), managed by Burnham Sterling Asset Management (BSAM), in a move to support the development of sustainable aviation fuel (SAF).

According to a statement from the airline, participation in the fund will not only strengthen Turkish Airlines' access to sustainable aviation fuels but also position the carrier closer to investments, feedstock development, and technology projects shaping the future of the aviation industry, CE Report quotes Anadolu Agency.

Joining the SAFFA Fund is also expected to deepen Turkish Airlines' cooperation with Airbus, the fund's anchor investor, on sustainability and sustainable aviation fuel supply security, while reinforcing their shared vision for the transformation of the aviation sector.

Turkish Airlines Deputy General Manager Levent Konukcu said the company was pleased to join the SAFFA Fund as part of its long-term strategy and sustainability goals.

"With this investment, we aim not only to contribute to the development of the sustainable aviation fuel ecosystem but also to play an active role in supporting innovative projects that will shape the future of aviation. The strong international partnerships established through the SAFFA Fund will improve our access to sustainable aviation fuels, strengthen supply security, and enable us to contribute to the transformation of the global aviation industry. As Turkish Airlines, we will continue creating value for the sector and maintaining a leading role in the future of global aviation in line with our sustainable growth vision," Konukcu said.

Burnham Sterling Asset Management Vice Chairman Michael Dickey Morgan said the SAFFA Fund was established to channel investment into sustainable aviation fuel projects across different technologies and geographic regions.

"Turkish Airlines' investment expands the scale of this strategy while demonstrating investors' confidence in this asset class. The airline's commitment to the SAFFA Fund is a strong indication that leading global carriers view this transition as essential over the long term. We are proud to contribute to this progress," Morgan said.

About the SAFFA Fund

Established in December 2023, the SAFFA Fund aims to increase global sustainable aviation fuel production capacity and support the aviation industry's carbon reduction goals.

The fund invests in commercially mature SAF projects while promoting the development of sustainable fuel supplies through a diversified portfolio spanning multiple production technologies and geographic regions.

Managed by Burnham Sterling Asset Management, with Airbus serving as the anchor investor, the fund includes participation from leading global aviation and financial institutions.

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