The European Commission has challenged suggestions that EU is providing a weaker set of incentives to promote SAF than the USA, citing billions of euros it has allocated to supporting adoption of renewable fuels. During a webinar hosted earlier this month by Arcadia eFuels, focused on how to scale up SAF and bring down the price, Damien Meadows – an adviser on European and international carbon markets at the Commission – challenged the widely held belief that "Europe had sticks and the US has carrots" to promote SAF, saying: "I couldn't disagree more. There are big carrots [in Europe], but it hasn't had the visibility that it deserves." Core to this is the EU's innovation fund, which Meadows likens to the US Inflation Reduction Act. Funding from the bloc's Emissions Trading System will be used to invest €40 billion ($43 billion) in transitioning the EU's economy away from fossil fuels this decade, although this does not apply solely to aviation. Included in this is a new law, adopted on 1 January, that can cover up to 100% of the extra cost of using SAF over conventional fuel under certain conditions, out of an allocated pot of 20 million ETS allocations – worth around €1.6 billion. These will be allocated to airlines on a 'first come, first served' basis. Applying for this a "no brainer" for airlines, says Meadows, noting that it will be available on all flights covered by the ETS regardless of nationality. Operated retrospectively, it will be based on the Commission's best expectations of prices for alternative fuels, with different levels of support for biofuels and e-fuels. Airlines will be reimbursed out of the 20 million ETS allocations. "It should be tremendously important in helping the update of SAF on a commercial basis," says Meadows, adding that it is "hard to see there wouldn't be a wish to extend the support" when the ETS is reviewed later in the decade. Because the programme works retrospectively, no airlines have yet applied and the earliest they can do so is next year, for SAF used in 2024. "The ETS mechanism is there until it is used up," Meadows says of the funds. "Those airlines that go first will do best out of it." He adds: "I think there is probably an element of airlines not talking to each other about this because if you have the authorities reimbursing 100% of the cost of the fuel, you want that – and not your competitors." Allowances for the scheme will be distributed in September next year. Also under the innovation fund, €4 billion has been made available to reduce carbon across the economy, in areas such as hydrogen and renewables, although this also puts aviation in competition with other industries. Despite there being, Meadows explains, 23 bids for each euro of available spending, it is still a "huge mechanism" to bolster the adoption of alternative aviation fuels. There is also cash being made available for hydrogen and other projects. In addition to these schemes, Meadows touts the benefits of having a carbon price, which sets a long-term incentive to move away from fossil fuels. "Europe is totally behind the development of alternative fuels for aviation and trying to bring down the cost differences," says Meadows. "These mechanisms can be a real game-changer in terms of deployment, and stand up very well compared to the US's IRA [Inflation Reduction Act] and state-level incentives."

Thai low-cost carrier Nok Air has reported a net profit of Bt47.7 million ($1.3 million) in 2023, rebounding from a loss of Bt2.62 billion. Revenue increased by 17% to Bt8.75 billion, with passenger revenue growing 19% to Bt7.62 billion and service revenue increasing by 17% to nearly Bt719 million, it says in a filing to the Stock Exchange of Thailand. The airline saw total expenses of Bt8.7 billion, a decrease of 14% from the previous year, which the carrier says "resulted in a significant drop in net loss from last year and turned into net profit". Nok Air carried 4.6 million passengers, up 3% year on year. ASKs increased by 3%, while RPKs grew by 6%, driving average load factor up by two percentage points to 82.2%. Cash and cash equivalents stood at Bt641 million as of 31 December, down from Bt699 million at the end of 2022. The airline had 17 aircraft at the end of the period versus 16 aircraft at the end of 2022.

British Airways will launch its winter flights to Tromso, Norway from London Heathrow on 1 December. The carrier says it will fly on the route twice a week until 27 March 2025. British Airways will use Airbus A320neos on the route. The carrier joins SAS in operating flights on the route this northern winter.