If the aviation industry doesn’t decarbonise, flight prices will increase by 230% by 2050.
That’s according to analysis by BeZero Carbon, claiming that a return ticket from London to New York could reach £1,800 from the average of £540 today.
Affordable green fuels and tangible carbon credits will be necessary to keep the sector on track, the report says.
Sustainable aviation fuels (SAF) currently account for 2% of the industry’s fuel consumption, while regular kerosene still makes up 98%.
Investment in high quality carbon capture projects will be critical to helping aviation cut its carbon footprint and cut the costs for travellers, the analysts claim.
Bringing down the costs of key aspects of decarbonisation will help ensure goals are met and cheaper flights can continue to exist.
Ted Christie-Miller, Director of Carbon Removal at BeZero Carbon, said: “The age of cheap flights is over. Unless we act now to bring down costs of key technologies such as sustainable aviation fuels and direct air capture, aviation will become out of reach for most consumers.
“Armed with more sustainable fuel options and effective and high-quality engineered carbon removal credits, the aviation industry could protect end-consumers from skyrocketing costs and the planet from harmful emissions.”