How JetBlue, Alaska Airlines, and Amadeus Are Approaching Startup Investment in 2023

25.08.2023 - 14:31 / skift.com / Airlines

Executives from the venture capital arms of three large travel companies — JetBlue, Alaska Airlines, and Amadeus — each shared details with Skift about what they are focused on in 2023 and going forward. 

Each of them have a strong interest in sustainability, consistent with the rest of the industry. All three companies recently invested in the same startup, Volantio, which is an optimization software platform that helps airlines more efficiently fill open seats, and it also reports on carbon emissions on a per seat basis.

But, sustainability is not all they’re looking at. 

Global distribution system companies and airlines are often criticized for using old technology, but each of these companies are, on the contrary, making investments that look toward the future.

For companies in any industry that have the resources for innovation, they’ll often create a venture capital arm to take equity stakes in startups doing that work. It is not as common in the travel industry, especially not for airlines. One benefit for startups that manage an investment from the venture arm of a travel company is the mentorship that comes from people working in the industry, and there’s often easier access to trials within those companies or their clients. 

Below are more details on what each of the companies’ investors are thinking about right now. 

JetBlue Ventures has five broad investment themes, but sometimes top focuses shift according to sentiment changes within the industry.  

“We’re still very focused on sustainability tech,” said Amy Burr, president of JetBlue Ventures. “We’ve done a ton of investment in that space. We’ve got two more that we’re completing this month, and we’ll announce … in 2023.”

JetBlue is still interested in ideas like contactless bag tags and mobile-first technology that allow customers to self service post-pandemic, as well as artificial intelligence to improve operations efficiency.

Also, more of a risky, forward-thinking focus: blockchain. 

There are announcements coming in 2023 about investments in two blockchain startups, Burr said. While blockchain has historically operated in conjunction with cryptocurrency, there are technologies being developed that utilize its digital data storage capabilities in a number of other ways.  

One of the coming JetBlue announcements is about a startup whose platform is more of a baseline onto which other apps can be built, maybe platforms to do with tracking carbon credits or flights. The other announcement has to do with customer loyalty. 

“Especially on the loyalty side, using blockchain as a basis for more of a digital wallet or digital identity I think is really growing and important,” Burr said. “We decided that it was the time was right to be