Indian Oil Corporation Limited has informed the Exchange regarding a press release dated January 29, 2026, titled "Indian Oil Corporation Ltd Signs Letter of Intent with Akasa Air to Advance Sustainable Aviation Fuel Supply".
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Indian Oil Corporation Limited (IOCL) has signed a Letter of Intent (LoI) with Akasa Air to advance the supply of Sustainable Aviation Fuel (SAF), as per a press release dated January 29, 2026. Sustainable Aviation Fuel is an eco-friendly alternative to conventional jet fuel, made from renewable sources, and is a key part of decarbonising the aviation sector. This collaboration positions IOCL as a key SAF supplier to one of India's fastest-growing airlines, aligning with the country's clean energy transition goals. A Letter of Intent is a preliminary, non-binding step that signals intent to enter a formal agreement later.
Positive for long-term growth as IOCL taps into the emerging green aviation fuel market, but the LoI is non-binding and near-term financial impact is limited. Investors should watch for a definitive supply agreement and commercial terms.