Five months after launching its Sustainable Flight Fund for the support of sustainable aviation fuel, United Airlines Ventures has added eight new partners and increased its investment ability to nearly $200 million, almost double its initial $100 million in the fund, the carrier announced Tuesday.
The eight new partners include American Express Global Business Travel, Aramco Ventures, Aviation Capital Group, Bank of America, Boston Consulting Group, Groupe ADP, Hawaiian Airlines and JetBlue Ventures. They join inaugural partners Air Canada, Boeing, GE Aerospace, JPMorgan Chase and Honeywell.
United said it also has received more than $200,000 in contributions from more than 60,000 customers who have donated to the carrier’s SAF fund when they book flights. The options for donations are $1, $3.50 or $7, with $3.50 as the default choice.
The airline plans to continue to recruit corporations to join the fund and will prioritize investment in new technology, advanced fuel sources and proven producers to help scale the supply of SAF.
Separately, in an earnings filing last week, United noted that nine new corporate participants during the second quarter had joined its Eco-Skies Alliance program, which enables corporate customers to contribute toward the purchase of SAF.
