In response to EU mandates, European airports are set to introduce a minimum of 2% sustainable aviation fuel (SAF) by 2025, underscoring the aviation industry's shift towards sustainability. However, the transition to low-carbon aviation technologies faces significant challenges, with the International Civil Aviation Organization warning of potential doubling in greenhouse gas emissions by the time these technologies are developed and integrated. Airlines and financial institutions, including banks, are under pressure to reduce emissions intensity and align with climate goals. Collaboration between banks and airlines is proposed to prioritize financing for fuel-efficient aircraft and SAF projects. The focus on decarbonization also highlights the importance of next-generation aircraft, which can significantly reduce emissions. Yet, manufacturing delays at companies like Boeing and Airbus pose obstacles to fleet renewal efforts and financing opportunities. To achieve net zero emissions by 2050, the aviation industry must rely on SAF for over 55% of emissions reductions, requiring substantial investments exceeding $1 trillion to increase production capacity. Challenges remain in the economics and capacity of SAF production, with current costs higher than traditional jet fuel and insufficient annual production to meet demand. Despite this, the European Union and the United Kingdom have set ambitious mandates for SAF usage by 2030, aiming to boost production capacity and incentivize investment in sustainable aviation practices. Overall, the industry's shift towards sustainable aviation reflects a positive trajectory, albeit with considerable financial and technological hurdles to overcome.