Atlas Air Partners with Kuehne+Nagel and SR Technics Group to Form Sustainable Engine Alliance

Rhea-AI Summary

On April 18, 2023, Atlas Air, a subsidiary of Atlas Air Worldwide, announced its partnership with Kuehne+Nagel and SR Technics to form the Sustainable Engine Alliance. This initiative aims to establish new low-carbon aircraft engine supply chain standards, aligning with the Science Based Targets Initiative (SBTi). The alliance seeks to reduce environmental impacts by deploying sustainable fuels and providing emission transparency.

The initiative targets a significant reduction in scope 3 emissions related to the engine supply chain ahead of the aerospace industry’s 2050 sustainability goals. Key leaders express optimism about setting responsible sourcing standards and enhancing industry collaboration towards sustainability.

Positive

• Formation of Sustainable Engine Alliance with Kuehne+Nagel and SR Technics to enhance sustainability in the aerospace sector.
• Commitment to reducing scope 3 emissions ahead of 2050 aerospace industry targets.
• Collaborative efforts to deploy sustainable fuels and improve engine life cycle management.

Negative

• None.

PURCHASE, N.Y., April 18, 2023 (GLOBE NEWSWIRE) -- Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc., today announced that it has partnered with Kuehne+Nagel and SR Technics Group to introduce the “Sustainable Engine Alliance”. Representing a wide range of the aerospace industry, the Alliance pledges to set new industry standards for low-carbon aircraft engine supply chains in line with the Science Based Targets Initiative (SBTi).

The alliance members aim to reduce their collective environmental impact through networks for sustainable engine supply chains and a portfolio of sustainable services. Some of the first joint initiatives carried out by the alliance include the deployment of sustainable fuels, engine stand management solutions and a global digital interface for emission transparency, reduction and avoidance. The initiative is expected to reduce engine supply chain related scope 3 emissions ahead of the aerospace 2050 sustainability targets.

Erik Goedhart, SVP Global Head of Aerospace at Kuehne+Nagel, comments: “Collaboration is key to industry-wide improvements in aerospace sustainability. With the ‘Sustainable Engine Alliance’, we will set new standards for responsible sourcing and engine transportation, while creating further awareness within the industry to minimize environmental impact of engine supply chains jointly. I am confident that together with Atlas Air and SR Technics we will pave the way for future sustainability efforts in aerospace. And we invite other value chain companies to join us.”

Jean-Marc Lenz, Chief Executive Officer at SR Technics, states: “Sustainability is a strategic pillar of SR Technics’ organization and service portfolio. By extending the engine life cycle and delivering best-in-class on-wing performance, SR Technics contributes to the environmental impact of airline operations. We are very pleased to be joining with the leaders in this growing market, and we look forward to working with them to pilot this zero-emission journey together. With Kuehne+Nagel and Atlas Air, we have experienced partners on board who support our major cornerstone in our company development to sustainable growth in future.”

James Forbes, Executive Vice President and Chief Operating Officer of Atlas Air Worldwide, said: “We look forward to working with Kuehne+Nagel and SR Technics to accelerate decarbonization in our combined value chain. Through our partnership, we will be developing maintenance and supply chain best practices that will guide us well into the future and help us achieve our environmental stewardship goals.”

About Atlas Air Worldwide:
Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services. It is the parent company of Atlas Air, Inc., and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate the world’s largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.

About Kuehne+Nagel
With over 80,000 employees at almost 1,300 sites in close to 100 countries, the Kuehne+Nagel Group is one of the world's leading logistics providers. It operates in sea logistics, air logistics, road logistics and contract logistics, with a clear focus on integrated logistics solutions.

Contacts: Investors – InvestorRelations@atlasair.com
Media – CorpCommunications@atlasair.com

FAQ

What is the Sustainable Engine Alliance announced by Atlas Air on April 18, 2023?

The Sustainable Engine Alliance is a partnership between Atlas Air, Kuehne+Nagel, and SR Technics aimed at establishing low-carbon aircraft engine supply chain standards.

How does Atlas Air plan to reduce emissions through the Sustainable Engine Alliance?

Atlas Air plans to reduce emissions by deploying sustainable fuels and managing engine supply chains more efficiently.

What are the goals of the Sustainable Engine Alliance in relation to aerospace sustainability?

The alliance aims to significantly reduce scope 3 emissions related to engine supply chains, contributing to the aerospace industry's 2050 sustainability targets.

Which companies are involved in the Sustainable Engine Alliance alongside Atlas Air?

The companies involved are Kuehne+Nagel and SR Technics.

What is the significance of the Science Based Targets Initiative (SBTi) mentioned in the press release?

The SBTi provides a framework for companies to set measurable sustainability goals and align efforts with global climate commitments.