Yahoo Finance Shell (SHEL), Ryanair Collaborate for Sustainable Aviation Fuel
Shell plc SHEL, the oil supermajor, entered into a memorandum of understanding (MoU) with the Irish airline Ryanair RYAAY. The MoU will see Shell supply sustainable aviation fuel (SAF) to more than 200 Ryanair airports across Europe, with the primary focus on the airline’s major hubs at Dublin and London Stansted.
Per the agreement, Ryanair will be able to access 360,000 tons (120 million gallons) of Shell’s SAF between 2025 and 2030. This will help the airline cut its carbon emissions by about 900,000 tons.
SAF, which is considered the key facilitator of aviation decarbonization, accounts for a trivial portion of worldwide jet fuel usage. Both parties resolved to advance the supply and use of SAF, with Ryanair committing to powering 12.5% of its flights with SAF by 2030 and Shell aiming for renewable fuel to account for 10% of its global jet sales by the end of the decade.
The MoU was signed at Aviation Sustainability Day, an event held at Trinity College Dublin’s Sustainable Aviation Research Centre.
Shell Aviation’s president, Jan Toschka, stated that the prospect of building on Shell’s existing relationship with Ryanair is fantastic. He further said that the initial agreement demonstrates that both firms recognize that SAF is the key to unlocking a net-zero future for the aviation industry.
Ryanair Holdings is the parent company of Ryanair Designated Activity Company Ryanair, which commenced its flight operations in 1985 and is based in Swords, Ireland. This ultra-low-fare carrier offers scheduled-passenger airline service in Ireland, the UK, Continental Europe, Morocco and Israel.
Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing. SHEL operates as an energy and petrochemical company.
Shell currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy space that warrant a look include Murphy USA MUSA and Liberty Energy LBRT, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Murphy USA’s 2022 earnings stands at $25.34 per share, which suggests an increase of 69.8% from the year-ago earnings of $14.92.
MUSA beat the consensus mark for earnings in all the trailing four quarters, the average being approximately 51%.
The Zacks Consensus Estimate for Liberty’s 2022 earnings is pegged at $2.02 per share, which implies an increase of about 298% from the year-ago loss of $1.02.
LBRT beat the consensus mark for earnings in three of the trailing four quarters, the average being around 58.4%.
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Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report
Murphy USA Inc. (MUSA) : Free Stock Analysis Report
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Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report
