United Launches Corporate Venture Capital Fund, United Airlines Ventures
United Airlines has launched United Airlines Ventures, a corporate venture capital fund. The new investment vehicle will allow the airline to continue investing in emerging companies with the potential to influence the future of travel.
On Thursday (June 10, 2021), United Airlines announced the launch of United Airlines Ventures, a corporate venture capital fund. Through the fund, United will continue to invest in emerging companies that offer promising technologies to influence the future of travel. United Airlines Ventures will focus on sustainability concepts, revolutionary aerospace developments and innovative technologies, as part of the airline’s goal of achieving net zero emissions by 2050, without relying on carbon offsets.
In Thursday’s announcement, United Airlines’ CEO, Scott Kirby, said,
“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 revolutionize how airlines operate and in turn, the experience customers have when they fly. With United Airlines Ventures, we're signaling 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.”
Over the last six months, United has announced major agreements to invest in, collaborate with, and purchase aircraft from innovative technology companies, including Archer Aviation. Archer Aviation will unveil their ‘Maker’ electric vertical takeoff and landing (eVTOL) aircraft today at 6:00 p.m. PST.
In addition to his current responsibilities, United’s current Vice President of Corporate Development and Investor Relations, Michael Leskinen, will assume the role of President of United Airlines Ventures.
Commenting on his new role, Mr. Leskinen, said,
“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. 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.”
United Airlines’ shared purpose is “Connecting People. Uniting the World.” Shares in the company’s parent, United Airlines Holdings, Inc., are publicly traded on the NASDAQ under the symbol ‘UAL.’
Source: United Airlines