SKY Leasing has acquired JetBlue Ventures, the venture capital arm of JetBlue Airways. The deal marks a strategic move aimed at accelerating the growth of JetBlue Ventures by leveraging SKY's global aviation partnerships, deep industry expertise and access to capital. JetBlue will retain a strategic role, continuing to collaborate with JetBlue Ventures and its portfolio companies.
JetBlue Ventures was founded in 2016 to support early-stage start-ups shaping the future of travel. To date, the fund has backed 55 start-ups, completed more than 40 follow-on investments, and achieved eight successful exits through acquisitions and public offerings. Under the continued leadership of Amy Burr, JetBlue Ventures will remain focused on identifying and investing in emerging enterprise technologies and frontier tech within the travel and transport sectors.
Matthew Crawford, Co-Chief Investment Officer at SKY, described the acquisition as a natural progression in the long-standing relationship between SKY and JetBlue. He praised JetBlue Ventures' record in fostering ground-breaking innovations, adding that the move will grant SKY and its global partners direct access to transformative travel technologies.
JetBlue CEO Joanna Geraghty emphasised that the sale supports the airline's ‘JetForward' strategy, enabling JetBlue to concentrate on restoring profitability and strengthening its core operations while maintaining ties to venture-driven innovation through an ongoing partnership. The JetBlue Ventures brand will be retained under a brand licensing agreement and JetBlue will continue to hold equity positions in its existing portfolio companies.
Financial terms of the transaction were not disclosed.
