Ankara: Turkish Airlines inked an agreement to participate in the Sustainable Aviation Financing Alliance (SAFFA) investment fund managed, according to the flag carrier's communications directorate on Monday.

According to Anadolu Agency, the airline's participation in the fund managed by Burnham Sterling Asset Management (BSAM) will support access to sustainable aviation fuels while positioning the air carrier closer to investments, raw material development, and tech projects shaping the industry's future.

Participation in the fund also aims to further advance cooperation with its lead investor, Airbus, in sustainability and supply security of sustainable aviation fuel while strengthening their shared vision for the sector's ongoing transformation.

Levent Konukcu, deputy general manager of Turkish Airlines, said the participation in the SAFFA Fund was a decision in line with the aviation sector's collaborations, long-term plans, and sustainable aviation goals. Konukcu stated that Turkish Airlines aimed to contribute to the development of the sustainable aviation fuel ecosystem, playing an active role in supporting innovative projects, while the participation was expected to enable the flag carrier to add value to the Turkish aviation sector and play a key role in shaping the future of global aviation through sustainable growth.

Michael Dickey Morgan, executive managing director at Burnham Sterling and Company LLC, said the fund was created to channel capital into sustainable aviation fuel projects through various investment types and regions. Morgan said Turkish Airlines' investment scaled up the strategy and demonstrated the confidence fund participants had in the asset class, while the air carrier's commitment to the fund showed the world's leading airlines viewed the sustainable transition as indispensable for the future.

The SAFFA Fund was established in 2023 to boost the production capacity of sustainable aviation fuels and support the aviation sector's carbon emission reduction goals. The fund aims to contribute to the development of such fuel via a diversified portfolio spanning numerous production technologies and regions.