Ryanair, Europe’s largest airline and global energy group, Shell, today (Thurs 1 Dec.) signed a Memo of Understanding (MOU) to advance the supply of sustainable aviation fuel (SAF) at over 200 Ryanair airports across Europe, with particular focus on SAF supply at RYR’s largest bases like Dublin and London Stansted.

While SAF is a key enabler of aviation decarbonisation, it currently accounts for just a small fraction of worldwide jet fuel usage. This agreement with Shell gives Ryanair potential access to 360,000 tonnes (120m gallons) of SAF between 2025 and 2030, saving over approx. 900,000 tonnes in CO₂ emissions (equiv. to over 70,000 flights from Dublin to Milan). The SAF that is covered by this MoU could potentially be produced from multiple different technology pathways and a broad range of sustainable feedstocks.

This agreement, which was signed at the Sustainable Aviation Research Centre in Trinity College Dublin (TCD) this morning (where Ryanair and TCD held an Aviation Sustainability Day), demonstrates both Ryanair and Shell’s commitment to work together to invest in SAF supply fuels. Ryanair has set itself ambitious targets of 12.5% SAF by 2030 and net-zero emissions by 2050.

Speaking at Ryanair’s Sustainability Day in TCD, Sustainability Director, Thomas Fowler said:

“SAF plays a key role in our Pathway to Net Zero strategy, and also our commitment to a target of 12.5% SAF by 2030. Today’s agreement with Shell helps Ryanair secure access to c.20% of this ambitious goal. Shell is a key sustainability partner for Ryanair, and we look forward to building on this collaboration with Shell as our Group grows sustainably to carry 225m passengers annually by FY26.”

President of Shell Aviation, Jan Toschka, added:

“It is fantastic to build on our existing relationship with Ryanair to now look at what we can achieve together on sustainability. This initial agreement demonstrates that both companies recognise that SAF is the key to unlock a net zero future for aviation. We share the same ambition to enable Ryanair’s passengers to fly lower carbon. Leadership and bold actions are needed to accelerate the decarbonisation of flight, and today’s announcement is a great example of this.”

Ryanair, Europe’s largest airline, has partnered with Citi to become the first European airline to deposit funds in its new Sustainable Deposit Solution, which launched earlier this year. This will enable Ryanair to invest excess cash to support different sustainable financing projects across Citi’s portfolio, such as renewable energy, water conservation, healthcare and education in emerging markets.

The initiative supports Ryanair’s sustainability agenda. Funds invested are allocated to finance or refinance assets in a portfolio of eligible green and/or social finance projects, based on the criteria set out in the Citi Green Bond Framework, Social Finance Framework and Social Bond for Affordable Housing Framework.

Ryanair’s Director of Sustainability, Thomas Fowler, said:

“Ryanair is proud to be leading sustainable aviation in Europe, which is further evidenced by our partnership with Citi to deposit funds in their new Sustainable Deposit Solution. This will not only help us manage our finances more sustainably but will further drive our sustainability agenda in whole as we support several sustainability projects across Citi’s portfolio, from water conservation to affordable housing and beyond.”

David Tsui, Global Sustainability (ESG) Head of Deposit and Investment Products at Citi, said:

“Citi is helping our clients to progress their own ESG priorities by providing the opportunity to support eligible environmental and social projects in Citi’s portfolios. We are delighted to partner with Ryanair as the first European airline to deposit funds in our recently launched Sustainable Deposit Solution.  We have committed to financing and facilitating $1 trillion in sustainable finance by 2030 as part of goal to further the acceleration to a sustainable, low carbon economy.”