CHICAGO, June 10, 2021 /PRNewswire/ -- United
Airlines launched a new, corporate venture fund today – United
Airlines Ventures – that will allow the airline to continue
investing in emerging companies that have the potential to
influence the future of travel. The new fund will concentrate on
sustainability concepts that will complement United's goal of net
zero emissions by 2050 - without relying on traditional carbon
offsets - as well as revolutionary aerospace developments and
innovative technologies that are expected to create value for
customers and United's operation.
"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," said United CEO Scott Kirby. "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."
With major agreements announced in just the last six months
including agreements to invest in, collaborate with and purchase
aircraft from Archer Aviation, United has proven its commitment to
work with companies that are developing transformational
technologies and services that are designed to revolutionize the
customer experience and redefine how airlines operate.
Through United Airlines Ventures, United will continue to forge
a new path by accelerating the growth of small- to medium-sized
companies with strong potential.
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."
United continues to be a leader in the adoption of new
sustainable aviation technologies and innovations. Last week, the
company announced its agreement to purchase 15 of Boom
Supersonic 'Overture' aircraft with an option for an
additional 35 airliners. Once in service, Overture will not only
re-introduce supersonic commercial flight, it is expected to be the
first long-haul commercial aircraft to be net zero carbon from day
one optimized to run on 100% sustainable aviation fuel (SAF).
For more information about United Airlines Ventures, please
visit https://www.united.com/ventures.
About United
United's shared purpose is "Connecting People. Uniting the
World." For more information, visit united.com, follow @United on
Twitter and Instagram or connect on Facebook. The common stock of
UAL is traded on the Nasdaq under the symbol "UAL."
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: Certain statements in this release are
forward-looking and thus reflect our current expectations and
beliefs with respect to certain current and future events and
anticipated financial and operating performance. Such
forward-looking statements are and will be subject to many risks
and uncertainties relating to our operations and business
environment that may cause actual results to differ materially from
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except as required by applicable law. Our actual results could
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numerous factors including, without limitation, the risks and
uncertainties set forth under Part I, Item 1A., "Risk Factors," of
our Annual Report on Form 10-K for the fiscal year ended
December 31, 2020, as updated by our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, as well as other risks and
uncertainties set forth from time to time in the reports we file
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SOURCE United Airlines