The MOU was signed by SIA CEO Goh Choon Phong and Cathay CEO Ronald Lam in Dubai. Photo: Bloomberg

Singapore Airlines (SIA) and Cathay have signed a memorandum of understanding (MOU) to work on a wide range of sustainability initiatives.

The MOU was signed by SIA CEO Goh Choon Phong and Cathay CEO Ronald Lam in Dubai at the sidelines of the 80^th International Air Transport Association (IATA) annual general meeting (AGM) and World Air Transport summit.

According to the joint statement, agreement seeks to advocate for the development and use of sustainable aviation fuel in the Asia Pacific (Apac) region and to share best practices to boost sustainability performance.

“Cathay was one of the first airlines in Asia to set a target of 10% sustainable aviation fuel for its total fuel consumption by 2030, and we are undertaking a multi-pronged approach to contribute to the aviation industry’s transition towards a greener future,” he adds.

“Singapore Airlines is committed to embedding sustainability in all aspects of our operations. At the same time, we recognise that we cannot achieve our targets alone. Our partnership with Cathay signifies our mutual ambition to enhance collaboration in sustainability initiatives in the Apac region. Together we are helping to set the foundation for a more sustainable aviation industry, and ensure that future generations continue to reap the benefits of air travel,” says Goh.

As at 4.22pm, shares in SIA are trading 8 cents higher or 1.18% up at $6.88. At the same time, shares in Cathay Pacific Airways are trading 6 HK cents lower or 0.72% down at HK$8.30 ($1.43) on the HKEX.