Korean Air has confirmed a major deal with Airbus for a new generation of long-haul planes.
02.03.2024 - 13:34 / skift.com / Justin Dawes
There’s a lot of money pouring into next-generation flight technology. This week, there was an investment into renewable jet fuel and a propulsion system for flying taxis.
Four travel tech startups have announced fundraises of over $68 million over the past week.
LanzaJet, a renewable jet fuel company, has raised $30 million from Southwest Airlines.
Illinois-based LanzaJet says its technology can convert low-carbon ethanol to jet fuel. The company in January opened a small-scale plant in Georgia that it says can produce 10 million gallons of fuel per year from sources including feedstock waste.
Southwest used 2.1 billion gallons of fuel in 2023, according to a year-end earnings report. That’s an example of the need for big increases in renewable jet fuel production for the aviation industry to meet net-zero emissions goals by 2050.
As part of the funding agreement, LanzaJet plans to open a sustainable aviation fuel production facility in the U.S., and Southwest plans to be the anchor customer.
LanzaJet also plans to help advance operations of Saffire Renewables, a Southwest investee that’s developing tech to produce ethanol from corn stover. LanzaJet plans to convert Saffire’s ethanol into jet fuel at its future facility.
LanzaJet has a goal of reaching 1 billion gallons of fuel production annually by 2030.
CycloTech, which is developing an aviation propulsion system for flyings taxis, has raised €20 million ($21.7 million).
The investors were Breeze Invest and Konos Holding.
The company has a goal to obtain €53 million in financing this year.
Austria-based CycloTech said its product is designed to produce thrust in a fully circular path, enabling vertical takeoff. And the tech would enable the aircraft to transition from vertical to horizontal flight without needing to change altitude or activate another propulsion system, the startup said.
The CycloRotor product has gone through six generations over the last several years, and its most recent version has been in flight test operations since 2021.
The latest funding will go toward developing a full-scale prototype of the CycloRotor propulsion system and prepare it for certification by the European Aviation Safety Agency.
“The long-term goal with our CycloRotors is to turn the vision of the flying car into reality,” said Markus Steinke, chief development officer at CycloTech, in a statement.
Lizy, a car rental app for businesses, has raised $12.4 million (€11.5 million).
Investors for the new funding included D’Ieteren, Alychlo, NewAlpha Asset Management, and Welvaartsfonds.
The Belgium-based company has more than 1,000 cars in Belgium and France, with more than 3,500 business clients.
The CEO said in a Linkedin post that the startup has
Korean Air has confirmed a major deal with Airbus for a new generation of long-haul planes.
Southwest Airlines has long prevented third-party sites and online travel agencies from selling or even displaying its fares, but as of recent, flights can be bookable through another online channel, Chase Travel.
It’s Tuesday, and if you are a regular reader, you probably know that means that Southwest Airlines has released a new sale. Southwest has released a promotion with sale fares for $69 and savings of up to $250 on Hawaiian vacation packages. However, after some digging, fares can be found for as low as $29.
As part of its Nonstop to Net Zero effort, Southwest Airlines is signing on to a project that's been dubbed the Hawaii Seaglider Initiative.A new mode of transportation designed to combine the speed of an aircraft with the “relatively lower cost of a boat to reduce the time and cost” of transporting travelers, seagliders are all-electric, zero-emission vessels. They operate exclusively over water and can move at up to 180 miles-per-hour, which dramatically reduces travel time. Seagliders function by floating on their hull before transitioning to “wave-tolerant underwater hydrofoils” and then take flight at ultra-low altitudes about 30- to 60-feet above the surface of the water. The vessels are being designed by Rhode Island based manufacturer REGENT.The Hawaii Seaglider Initiative (HSI) was first announced in January and includes a broad coalition of partners. Some of the high-profile corporate and community partners supporting the effort include AES Hawaiʻi, Alaska Airlines, Hawaiian Airlines, Hawaii Building & Constructions Trades Council, Hawaiʻi Lodging and Tourism Association, Japan Airlines, Maui Hotel & Lodging Association, Mokulele Airlines, Molokaʻi Chamber of Commerce, Polynesian Adventure, and United Airlines.
Southwest Airlines is promoting one-way fares for as low as $49. The flight sale includes travel to the continental United States, Hawaii, and San Juan, Puerto Rico, for travel in spring and early summer. But these flight deals will be ending soon.
Boeing delivery delays have forced Southwest to reduce its capacity expectations for this year and to "actively and urgently" focus on cost reductions, CEO Bob Jordan said Tuesday.
Next month’s total solar eclipse, which will pass directly over a wide swath of North America, is drawing an awful lot of interest from folks who are willing to travel to see it in all its glory. In order to do so, they need to place themselves somewhere along its path of totality—geographic locations from which the sun will appear to be entirely obstructed by the moon’s shadow passing between the Earth and its nearest star.
Southwest Airlines is the latest Boeing 737 Max operator to set out the scale of delivery delays. In a filing Tuesday, the carrier said there would be a reduction in the number of new planes it will receive in 2024.
They’ve been called the “Ozempic” of airline seats and compared to being as comfortable as “wooden benches,” but Southwest Airlines is defending its new slimmer seat design set to roll out next year.
Amtrak is adding more trains to its schedule along the busy Northeast Corridor, owing to major strides in ridership after pandemic setbacks between 2020 and 2022.
Southwest Airlines is picking up where it left off earlier this month by launching another sale on spring flights.
More than four years after Airbnb pledged to verify all of its listings, the company said Monday it will soon have nearly 1.5 million verified listings, and that badges will be pinned to listings that have completed the process.