American Airlines Group Inc
This move aligns with American's commitment to sustainability and reducing its carbon footprint.
Alongside the engine purchase agreement, American has increased its investment in ZeroAvia, following its initial investment in 2022 and participation in the company's Series C financing round.
ZeroAvia is developing hydrogen-electric engines that offer close to zero inflight emissions. The company is testing a prototype for a 20-seat plane and designing an engine for larger aircraft, such as the Bombardier CRJ700, used by American on regional routes.
American Airlines CEO Robert Isom said, "Advancing the transition of commercial aviation to a low-carbon future requires investments in promising technologies, including alternate forms of propulsion."
This initiative supports American's goal of achieving net-zero greenhouse gas emissions by 2050.
The airline has undertaken a significant fleet renewal effort, making investments in sustainability, including an agreement with Infinium for low-carbon sustainable aviation fuel and partnering with Graphyte for carbon removal processes.
"The solutions that can serve the largest airlines are within reach, and the clean future of flight is coming," said ZeroAvia's Founder and CEO Val Miftakhov.
ZeroAvia's hydrogen-electric engines generate electricity using hydrogen in fuel cells, powering electric motors to turn aircraft propellers.
The only inflight emission is low-temperature water vapor, with the potential for significant cost savings due to lower intensity electrical systems.
Price Action: AAL shares are trading lower by 0.50% at $10.99 at last check Tuesday.
