United Airlines has launched a new corporate venture fund that will concentrate on sustainability concepts that support its goal of net zero emissions by 2050 as well as innovative aerospace development technologies.
United Airlines Ventures will invest in emerging companies that have the potential to “influence the future of travel”, with a focus on decarbonising air travel as well as unlocking advancements in aircraft development and aerospace research.
The airline’s major agreements announced in the last six months include plans to invest in, collaborate with and purchase aircrafts from Archer Aviation, which recently unveiled its first electric vertical takeoff and landing (eVTOL) aircraft.
It also announced plans to purchase 15 of Boom Supersonic ‘Overture’ aircraft, with the option for an additional 35 airliners.
Once in Service, Overture intends to reintroduce supersonic commercial flight, expected to be the first long-haul commercial aircraft to be net zero carbon from day one, running on 100% sustainable aviation fuel.
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 revolutionise how airlines operate and in turn, the experience customers have when they fly.
“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.”