Friday 23 August 2019

Applegreen seeks slice of €400m jet fuel market

Joe Barrett, Chief Operating Officer, Applegreen plc.
Joe Barrett, Chief Operating Officer, Applegreen plc.

Fearghal O'Connor

Petrol and forecourt specialist Applegreen is taking aim at the lucrative €400m aviation fuel market at rapidly growing Dublin Airport.

Ireland's second-largest service station operator delivered its first batch of jet fuel in recent days with plans to take on the two incumbents who have the market to themselves - Shell Aviation and Texaco Valero.

Publicly quoted Applegreen has partnered with World Fuel Services, a major global supplier of jet fuel.

Close to a thousand kilo tonnes of jet fuel are used in Ireland annually, accounting for 18pc of the fuel market.

"We made our first deliveries last week," Applegreen chief operating officer and co-founder Joe Barrett told the Sunday Independent. "The airport is expanding rapidly and there were only two players there and one of the things we wanted to do was to introduce more competition into the market in the same way we did with service stations.

"It is a small part of our business at the moment because we are only learning the business but as an innovative company we are constantly looking to evolve."

Sunday Indo Business

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