A membrane electrode assembly includes a membrane, a gas diffusion layer and a catalyst layer between the membrane and the gas diffusion layer. The catalyst layer comprises catalyst comprising active catalyst particles supported on support particles, a proton conducting ionomer and a phospholipid containing soluble oxygen. One method of preparation includes preparing a catalyst solution comprising a solvent and catalyst, adding proton conducting ionomer to the catalyst solution to form a catalyst ink, saturating a solution of solvent and a phospholipid with oxygen and mixing the saturated phospholipid with the catalyst ink.