As per a news item from Bloomberg airlines will start using Algae fuel also called Bio fuel instead of the expensive jet fuel. That means airlines will be savings money from buying expensive jet fuel which costs around $131 a barrel. Bio fuel will costs around $50 (http://news.cnet.com/8301-11128_3-10188491-54.html) presently and once the production and supply increases it may costs less. This in turn will reduce the cost of airline travel to people..
You can read more about this news in Bloomberg at http://www.bloomberg.com/news/2011-06-09/biofuel-from-algae-wood-chips-approved-for-airlines-ata-says.html
Honeywell and Indian Oil Corp., the nation’s largest refiner, are planning to establish a pilot biofuel production plant in India next year.
Boeng corporation is test growing halophytes (salt water resistant energy plant) bio fuel plants in UAE. Know more about halophytes here http://en.wikipedia.org/wiki/Halophyte
Bio fuel or Algae fuel is a fuel from organic waste originated from plant or animal source that can be broken down by bacteria. There are different types of wastes and you can know about them by clicking this link http://en.wikipedia.org/wiki/Type_of_waste )
Many Indian bio fuel producers will benefit once airlines switchover to biofuel instead of jet fuel. Some links about Indian biofuel industry.
Some of the companies that will benefit from the above are as follows.
In another news a person found a new form of steel that is stronger by 7% than regular steel called Flash Bainite. this new steel can be made thinner and carry the same load as more traditional steel–meaning cars and aircraft could be much lighter and retain their strength, which has huge eco-implications in terms of fuel efficiency. Another good news for airlines and car industry to save money. click to know more here http://www.sciencedaily.com/releases/2011/06/110609173718.htm