Yahoo Finance Alaska Air (ALK) Inks Deal Related to SAF With Shell Aviation
Alaska Air Group, Inc. (ALK) announced that it has entered into an agreement with Shell Aviation for the supply of sustainable aviation fuel (SAF) to the West Coast and create further opportunities for SAF in the Pacific Northwest.Shell Aviation will also supply up to 10 million gallons of neat SAF to Alaska Airlines at their hub in Los Angeles.
SAFis a safe, certified drop-in fuel which meets jet fuel standards and reduces carbon emissions by up to 80% of lifecycle emissions.
Diana Birkett Rakow, senior vice president for public affairs and sustainability at Alaska, stated, "Alaska Airlines has set our course to net zero by 2040 and sustainable aviation fuels represent the greatest near-term opportunity to make a step-level change on that journey." She further added, "That's why we've pioneered SAF technologies for more than a decade. But we can't scale the market alone. We're excited to take this next step in the journey with Shell, to leverage their deep knowledge of the energy industry, its infrastructure requirements and supply chain to make lower lifecycle carbon SAF more widely available for the future."
This cross-industry collaboration is expected to expand SAF usage through advanced technology, development, infrastructure and investment while addressing cost issues also.
Considering the buoyancy in air-travel demand post-COVID-19 travel restrictions and re-opening of the global economy, this energy sign agreement to decarbonize the aviation industry through SAF advancement should boost Alaska Air’s competitive position in the aviation industry.
Currently, Alaska Air carries a Zacks Rank #2 (Buy).
Investors interested in other top-ranked stocks from the Zacks Transportation – Airline industry can consider Copa Holdings, S.A. CPA and American Airlines AAL. Copa Holdings presently sports a Zacks Rank #1 (Strong Buy) and American Airlines carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Copa Holdings has an expected earnings growth rate of 39.83% for the current year. CPA delivered a trailing four-quarter earnings surprise of 33.35%, on average.
The Zacks Consensus Estimate for CPA’s current-year earnings has improved 21.1% over the past 90 days. Shares of CPA have soared 32% over the past six months.
AAL has an expected earnings growth rate of more than 100% for the current year. AAL delivered a trailing four-quarter earnings surprise of 7.79%, on average.
The Zacks Consensus Estimate for AAL’s current-year earnings has improved 31.1% over the past 90 days. Shares of AAL have gained 13.2% over the past six months.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
American Airlines Group Inc. (AAL) : Free Stock Analysis Report
Alaska Air Group, Inc. (ALK) : Free Stock Analysis Report
