American Airlines (NASDAQ: AAL) has retained Ocean Park to assist with evaluating alternative jet fuels and identifying promising companies and technologies.
American said recognizes the need to make jet fuel more sustainable. The airline exploring developments within the renewable jet fuel industry and is seeking opportunities to make binding commitments to source fuel that meets specifications and is priced at or near market prices for traditional jet fuel.
The company said its engagement with Ocean Park will build on the airline´s longstanding work to advance renewable jet fuels through the Commercial Aviation Alternative Fuels Initiative (CAAFI) and Airlines for America (A4A).
American Airlines and American Eagle offer an average of 6,700 flights per day to nearly 350 destinations in more than 50 countries.
Ocean Park is a boutique investment bank with expertise in the renewable fuels industry. Ocean Park has completed 21 renewable fuels M&A transactions totaling 500+ MPGY and worth more than USD400M since 2006.