PSX - Southwest signs energy partnerships to advance sustainable aviation fuel

Southwest Airlines (LUV) says it signed memoranda of understanding with refiners Marathon Petroleum (MPC) and Phillips 66 (PSX) to facilitate the development and production of commercialized sustainable aviation fuel.Southwest says collaborations may include various initiatives such as an increased focus to advocate policies with governmental agencies, cooperation to advance research and development, and partnerships on initiatives to raise public awareness.The carrier says it plans to utilize sustainable aviation fuel acquired from Marathon's planned Martinez Renewable Fuels facility and from Phillips 66's Rodeo Renewed facility, in the San Francisco Bay Area and throughout its operation in California.The two refiners estimate the renewables facilities may produce at least 300M gallons combined of SAF by 2025, and Southwest and the companies plan to explore separate offtake agreements for its potential purchase of a substantial share of the SAF.Southwest shares have turned lower in afternoon trading despite beating Q1 earnings estimates and guiding for

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Southwest signs energy partnerships to advance sustainable aviation fuel