The French government will invest 300 million euros (329 million U.S. dollars) per year between 2024 and 2030 to boost the development of a new, more fuel-efficient engine as well as the design of lighter aircraft, President Emmanuel Macron announced on Friday.
During his visit to French aircraft engine manufacturer Safran, Macron said that France "must be the champions of ultra-sober aircraft."
He unveiled a series of measures to boost the development of low-emission aircraft, including 50 million euros in favor of emerging players and start-ups to develop small hybrid, electric, or hydrogen planes.
Another 200 million euros will be spent on the development of innovative biofuels, he said.
In 2021, the International Air Transport Association (IATA) member airlines agreed to commit to net-zero carbon emissions by 2050.
The pledge brings air transport in line with the objectives of the Paris Agreement to limit global warming to well below 2 degrees Celsius, the IATA said. (1 euro = 1.10 U.S. dollar)