US carrier JetBlue Airways has removed the innovation ARM JetBlue Ventures Sky Leasing to focus more on “core aviation operations.”
Brooklyn-based JetBlue said on May 5th it will continue to function as a “strategic partner” for JetBlue venture.
JetBlue Ventures supports a wide range of companies, including Carbon Recycler Air Company and Joby Aviation from Air Taxi Developer.
“We set up JetBlue Ventures to invest, incubate and partner with early stage startups that will shape the future of travel. With all the measures, it was an incredible success.”
According to Geraghty, Jetblue is increasingly focused on the JetForward Financial turnaround plan, bringing the leisure career back to stable profitability.
“This transaction will allow us to focus on our core aviation operations, while maintaining access to innovation and opportunities for our current and future portfolio companies through our ongoing strategic partnership with JetBlue Ventures,” she says.
JetBlue Ventures maintains outward corporate identity through its brand licensing agreement with JetBlue.
The airline lost $208 million in the first quarter compared to a loss of $716 million in the previous year, investigating partnerships with major US airlines.
