British Airways is pushing forward with an ambitious project to develop sustainable aviation fuel (SAF) in the UK.
A deal signed with LanzaJet and Nova Pangaea Technologies accelerates the pace of Project Speedbird, which could lead to the establishment of a new centre that would produce sustainable fuel by 2026.
If successful, it could reduce CO2 emissions by 230,000 tonnes a year, the equivalent of about 26,000 British Airways domestic flights, the company said.
It came on the same day that Etihad Airways signed a deal to speed up decarbonisation efforts.
“Project Speedbird is another great step towards our mission to reach net-zero carbon emissions by 2050 or sooner and achieve our target of using SAF for 10 per cent of our fuel by 2030,” said British Airways director of sustainability Carrie Harris.
“SAF is in high demand but in short supply across the globe and so it is essential that we scale up its production as quickly as possible.”
Under the plan, agricultural and wood waste taken from sustainable sources would be transformed into 102 million litres of fuel a year.
The processing facility is earmarked for northern England, with construction beginning next year and production starting by 2026.
Project Speedbird, launched by the three companies in 2021, has applied for Department for Transport funding to push the plan forward.
“This project will deliver the first end-to-end, sustainable value chain from agricultural and wood waste to SAF in the UK,” said Nova Pangaea Technologies chief executive Sarah Ellerby.
“It will undoubtedly play a very important role in the growing momentum towards decarbonising our aviation sector.”
The SAF will be developed using a combination of leading-edge technologies based on Nova’s technology.
Cepsa, a Mubadala group company, and Etihad Airways have signed a preliminary agreement to accelerate the decarbonisation of air transport by researching and producing SAF.
These fuels will be produced from circular raw materials that do not compete with food resources, such as used cooking oils, non-food animal waste or biodegradable waste from various industries.
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Company%20profile
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Suggested picnic spots
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Umm Al Emarat Park
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The Corniche
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Al Qudrah Lakes
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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Director: Romany Saad
Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
