United Airlines has launched a new corporate venture fund with the ambition to continue investing in emerging companies that have the potential to influence the future of travel.
The new fund, called United Airlines Ventures, will focus on sustainability concepts, that will complement United’s goal of achieving net zero emissions by 2050, as well as on innovative technologies that could create value for customers and United’s operation. In particular, the new arm will aim to advance sustainability without relying on traditional carbon offsets.
“Younger companies today have learned from aviation’s rich history and are combining it with more advanced technology and creative thinking to develop new ideas that give us the ability to revolutionise how airlines operate and in turn, the experience customers have when they fly,” said United’s CEO Scott Kirby. “With United Airlines Ventures, we’re signalling our confidence in these companies and propelling them forward with our expertise and financial support to demonstrate that our commitment to innovation will strengthen our company and improve our customers’ experience more quickly than anyone ever anticipated.”
Recently, the airline launched new partnerships with Archer Aviation and Boom Supersonic to accelerate its investment in innovation.
United’s current Vice President of Corporate Development and Investor Relations, Michael Leskinen, will assume the role of President of United Airlines Ventures in addition to his current responsibilities.
“United has always been a pioneer within the industry and United Airlines Ventures will help us grow companies that are pushing the envelope to make air travel better for our customers, our employees and our planet,” said Leskinen. “We’re making more than a financial commitment to companies within this new portfolio; we’re lending our expertise so that new ideas can really take off.”