Airbus Demonstrates H130 SAF Flights in Australia
Airbus, Safran Helicopter Engines and Microflite have conducted demonstration flights in Australia on an Airbus…
The United States Treasury Department and Internal Revenue Service issued a notice this month detailing the requirements for Sustainable Aviation Fuel (SAF) tax credit.
The new guidance, which is under review for more public comments and additional information, also lists steps that SAF sellers and users can take to claim the credit, including through the excise tax system or a general business credit system.
With the aviation industry striving to meet the net-zero target by 2050, the introduction of the tax credit has been regarded as an important approach to encourage investment in SAF production and bring down the price of SAF.
The document Notice 2023-06, as a result of the Inflation Reduction Act of 2022 passed by US President Joe Biden in August, will apply to a qualified fuel mixture containing SAF for certain sales or uses in calendar years 2023 and 2024.
Qualified SAF that can reduce 50% of lifecycle greenhouse gas emissions will be eligible for a credit of US$1.25 for each gallon, with supplemental credit of one cent for each percent that the reduction exceeds 50%.
In a similar move earlier in July, the European Parliament approved the “ReFuelEU Aviation” standards that require 2% of SAF usage in the sector by 2025, with a further target of 63% by 2050.
Related Articles
A Bell 505 Flew for the First Time Using 100% SAF
Bell Textron has completed its first flight using 100% sustainable aviation fuel (SAF) on a…
Business Aviation
Market Intelligence
Sustainable Business Aviation Needs SAF, And More
Before electric aircraft or Harry Potter’s flying broom becomes a reality, achieving net-zero targets in…
Gulfstream Wins Four NBAA Sustainable Accreditations
Gulfstream has been awarded four National Business Aviation Association (NBAA) Sustainable Flight Department Accreditations. The…
Milan Linate Airport Becomes Italy’s First SAF Provider
Milan Linate Airport has become the first business aviation airport in Italy that provides sustainable…
Meridian Hayward Joins Avfuel’s FBO Network
Avfuel has become Meridian’s official fuel supplier at California’s Hayward Executive Airport (KHWD). By joining…
US Treasury, IRS Issue New Guidance on SAF Tax Credit
The United States Treasury Department and Internal Revenue Service issued a notice this month detailing…
Business Aviation
Market Intelligence
Sino Jet Attends COP27 and Hopes to Lead the Way Towards Sustainable Aviation Practices
With the combined efforts of major economies around the world, finding ways to reduce carbon…
Industry Reports + see more
Global Sky Quarterly
2022 Q4
Business Aviation New, Big Falcons Suit Asia-Pacific Business Aviation Supporting Modern Time Machines See all articles
Business Jet Fleet Report - Asia Pacific
YE 2022
Business Aviation New, Big Falcons Suit Asia-Pacific Business Aviation Sino Jet Tops Fleet Size Rankings in Asia Pacific For The Fourth Year See all articles
Business Jet Fleet Report - Europe
YE 2022
Business Aviation Luxaviation CEO Sees Deficiencies in Seemingly Buoyant Market Business Aviation Supporting Modern Time Machines See all articles
Business Jet Fleet Report - MENA
YE 2022
Business Aviation DC Aviation Al-Futtaim Celebrates Ten Years in the Middle East See all articles
Infrastructure & Training Report Asia-Pacific
2022
Business Aviation HKBAC: Marching towards its 25th Year Business Aviation Sino Jet Attends COP27 and Hopes to Lead the Way Towards Sustainable Aviation Practices See all articles
Business Jets Fleet Report
YE 2021
Business Aviation Market Trends – Business Jet Fleet Report YE 2021 Business Aviation 10 Year Forecast See all articles
Civil Helicopters Fleet Report
YE 2021
Civil Helicopters Leasing Market – Civil Helicopter Fleet Report YE 2021 Civil Helicopters EMS Market – Civil Helicopter Fleet Report YE 2021 See all articles
Global Sky Media Newsletter
Subscribe to our weekly newsletter to stay up-to-date on the latest trends in Global Aviation.
Thanks for your interest in Global Sky Media, to confirm your subscription please click the double opt-in link in the email we just sent to you.
© Global Sky Media – 2023 | All Rights Reserved
