Turkish Airlines joins SAFFA Fund, managed by Burnham Sterling

Turkish Airlines has signed an agreement to participate in SAFFA Fund I, the sustainable aviation fuel investment vehicle managed by Burnham Sterling Asset Management, with Airbus as anchor investor.

The commitment gives Turkey’s flag carrier more than fuel access. It positions the airline closer to feedstock development and SAF technology projects, supporting its long-term growth strategy, sustainability targets and supply chain security vision.

“With this investment in the SAFFA Fund we aim not only to contribute to the development of the sustainable aviation fuel ecosystem but also to maintain our active role in supporting innovative projects that shape the future of the industry,” said Levent Konukcu, deputy general manager, Turkish Airlines. “The strong international collaborations established through the SAFFA Fund will enable us to reinforce our supply security and contribute to the transformation of the global aviation sector while supporting our access to sustainable aviation fuels.”

Established in December 2023, SAFFA Fund was set up to scale SAF production capacity and support the aviation sector’s carbon reduction goals. It invests in technologically mature SAF projects, building a diversified portfolio across production pathways and geographies. Alongside Airbus, participants include leading airlines and major global aviation and financial institutions.

“SAFFA Fund was built to channel capital into SAF projects across a mix of investments and geographies. Turkish Airlines’ investment adds scale to that strategy and evidences the confidence the Fund’s participants have in this asset class,” said Michael Dickey Morgan, executive managing director, Burnham Sterling Asset Management. “Turkish Airlines’ commitment to the SAFFA Fund is a strong signal that the world’s leading carriers see this transition as essential for the long term. We’re proud to help drive that progress forward.”