​AISAF was founded on 8 August 2012 as public private partnership supported by the aviation industry and the Australian Government. In August 2013, AISAF joined forces with Aviation Aerospace Australia (A/AA; aviationaerospace.org.au) the not-for-profit and independent association, with an overarching objective to contribute to the long-term health and sustainability of Australia's aviation and aerospace sector.

The objectives of the working groups were to:

• Identify gaps in research, studies and analyses of the challenges in developing and commercialising sustainable aviation fuel and, where appropriate, facilitate the required research and analysis;
• Facilitate sharing of information to establish a common understanding amongst AISAF stakeholders of the current state of the sustainable aviation fuel industry domestically and internationally;
• Prioritise efforts to focus on significant domestic and international sustainable aviation fuel developments that will improve the integration of activities essential to the development of a commercially viable sustainable aviation fuels supply chain in Australia;
• Communicate and engage with sustainable aviation fuel stakeholders from across the supply chain to improve the integration of activities essential to the development of sustainable aviation fuels; and
• Implement the Work Plan under the Australia USA Memorandum of Understanding on Sustainable Aviation Fuels.

As of 2015, this initiative is no longer active, and has been absorbed into the US Studies Centre's Alternative Transport Fuel Initiative at the University of Sydney.