Airbus withdraws from ‘green’ jet
(MENAFN) Airbus is reducing its investment in its hydrogen-powered jet initiative, which was initially aimed at launching a zero-emission aircraft by 2035. The company has already invested over $1.7 billion but has faced significant technical challenges and slow adoption of hydrogen technology across various industries.
Sources told the Wall Street Journal that despite ambitious plans announced in 2020, Airbus now acknowledges that meeting its 2035 goal is unlikely. In February, Airbus informed employees that the project’s budget would be cut and the timeline delayed, although no new schedule was provided. CEO Guillaume Faury admitted that the project has not yet produced a commercially viable aircraft and engineers would need to revisit the design in a second development phase.
Airbus's push for hydrogen integration had garnered interest from numerous airlines and airports, but industry skepticism, particularly from rival Boeing, raised doubts about the feasibility of the 2035 deadline. The European Union's Green Deal, which requires the aviation sector to decarbonize by 2050, has driven Airbus’s commitment to green aircraft development, partially funded through a €15 billion bailout.
However, wider enthusiasm for hydrogen has been waning, as companies like BP and Neste scale back their own hydrogen projects due to high costs and the challenges of transitioning away from fossil fuels.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
