The UK government intends to introduce legislation to support sustainable aviation fuel production. Plans for the "revenue-support mechanism" were disclosed during the King's Speech to parliament on 17 July. Tim Alderslade, chief executive of lobby group Airlines UK, has welcomed the move as "a positive step forwards", adding: "Airlines are clear that a guaranteed strike-price mechanism – backed and funded by government and consistent with its approach to industrial strategy – would represent exactly the kind of strategic partnership with business that will unlock billions of pounds of private sector investment in a brand-new UK SAF industry." Domestic production of SAF will, he argues, make it easier for industry to meet the UK's SAF mandate while creating tens of thousands of new jobs across the nation’s industrial base and strengthening its energy security. "We look forward to working with government on the scheme design so that the mechanism, whilst offering protections to both investors and consumers, can be introduced as quickly as possible with plants under construction by the end of next year," states Alderslade.

from 'BB+' to 'BBB-' with a 'stable' outlook. The agency has also upgraded the US carrier's senior secured debt ratings from 'BBB-' to 'BBB', its LaGuardia industrial revenue bonds from 'BB+' to 'BBB', and its unsecured ratings from 'BB+' to 'BBB-'. Delta's credit metrics have "improved considerably after the pandemic", says Fitch, noting that the carrier has reduced gross debt and operating leases roughly $11 billion over the past three years and expects unencumbered assets to total $30 billion by year-end. Fitch notes that Delta's 'BBB-' rating is higher than its two major competitors United Airlines ('BB') and American Airlines ('B+'). Along with its "solid" business profile, Fitch expects Delta to sustain EBITDAR leverage in the mid-2x range and fixed charge coverage of greater than 4x, and to generate consistent positive free cash flow, consistent with an investment-grade credit profile. Fitch observes that Delta made $4.1 billion in debt payments in 2023 and $2.1 billion in the first half of this year, bringing gross debt and lease liabilities to $27 billion from nearly $33 billion at year-end 2022. Delta is also expected to generate healthy operating margins and cash flows in 2024. The agency states that its model "incorporates margin compression in 2024 driven by mostly flat unit revenues and a low-single digit increase in unit costs", adding: "Although results are weaker than the prior year, we expect Delta's profitability to remain among the industry's best. Capacity growth is slowing as the company transitions away from a phase of post-pandemic network restoration." Delta is set to grow capacity in the mid-single-digits across 2024, down from 17% in 2023, with growth mostly focused on its core hubs where it generates its highest margins, Fitch notes.

Boeing has reduced its commercial aircraft presence at the Farnborough air show later this month, versus previous years, and has decided not to participate in the exhibition's airliner flying display amid the company's efforts to improve quality and safety.
The US airframer says it will show a sectional cabin mock-up for its in-development 777X programme and include a Qatar Airways 787-9 in the static display. Activities for Boeing Commercial Airplanes will additionally cover the company's ecoDemonstrator test aircraft, freighter line and joint X-66 sustainable flight demonstrator programme with NASA, it says.
At last year's Paris air show and previous a Farnborough in 2022, Boeing had included test aircraft for its in-development 777-9 and 737 Max 10 programmes in daily flying displays. "We are concentrated on implementing our comprehensive safety and quality plan and meeting our customer commitments. With these priorities in mind, we have reduced our commercial airplanes display and flight demonstrations at the show, and will focus on new technology, sustainability, security and services solutions," states Boeing Global president Brendan Nelson. "The best way to build trust," he adds, "is through high-quality performance in our factories, one airplane at a time." Boeing will include F-15QA fighter jets in flying displays at Farnborough air show during 22-26 July. A US Air Force F-15E, US Army AH-64E Apache and CH-47F Chinook helicopters, and a US Navy P-8A maritime patrol aircraft will be on static display.