Airbus pulls back on ‘green' jet
European aircraft manufacturer Airbus is scaling back its hydrogen-powered jet project after spending nearly $2 billion, the Wall Street Journal has reported, citing sources.
The company announced in 2020 that it aimed to launch a zero-emission, H2-powered aircraft by 2035, calling it a potential breakthrough for aviation. Some industry executives had questioned whether the technology would be ready in time.
People familiar with the matter told the WSJ that Airbus had already spent more than $1.7 billion on the project, but concluded over the past year that technical hurdles and sluggish adoption of hydrogen across the economy would prevent it from meeting its target, according to a report on Sunday.
In early February, Airbus informed staff that the project's budget would be cut and its timeline delayed, the sources said. A new schedule was not provided.
Later that month, CEO Guillaume Faury – who had initially described the hydrogen push as 'a historic moment' – admitted the effort had not led to a commercially viable aircraft. Engineers would return to the drawing board in a second 'development loop,' he reportedly said.
Airbus's efforts to enlist a dozen airlines and more than 200 airports to explore hydrogen integration raised eyebrows, with airline and supplier executives privately doubting the 2035 target. At US rival Boeing – long skeptical of hydrogen – executives voiced concerns over safety and the technology's readiness.
The EU has pushed aviation to decarbonize under its Green Deal, which aims to make the bloc climate-neutral by 2050. Airbus, partly owned by the French state, was required to channel part of a €15 billion (over $16 billion) Covid-era bailout into green aircraft development.
According to the WSJ report, the hydrogen program had helped Airbus unlock additional public and private green funding.
The retreat comes as wider enthusiasm for hydrogen fades, with companies like oil major BP and Finnish producer Neste scrapping plans for hydrogen projects. Some major European power companies have been rethinking amid high costs and difficulty transitioning away from fossil fuels, according to leading industry magazine Windpower Monthly.
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Russia Today
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- Russia Today
Trump-Musk Big Bro bust-up: Ignore the noise, focus on the signal
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Russia Today
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Russia Today
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Mexico rejects Trump's troops offer
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