Alaska Airlines announces investment in JetZero to propel innovative aircraft technology and design

Rhea-AI Summary

Alaska Airlines has announced an investment in JetZero, a company developing a blended-wing body (BWB) aircraft that promises up to 50% less fuel burn and lower emissions. This investment, made through Alaska Star Ventures (ASV), aligns with Alaska's goal of achieving net zero carbon emissions by 2040. The BWB aircraft integrates wings and fuselage into a single shape, reducing aerodynamic drag and weight. This innovative design is expected to result in lower carbon emissions, reduced operating costs, and improved passenger comfort. JetZero is collaborating with the US Air Force, NASA, and the FAA to bring this revolutionary aircraft to market, potentially reshaping the future of aviation.

Positive

• Investment in JetZero's blended-wing body aircraft technology
• Potential 50% reduction in fuel burn and lower emissions
• Alignment with Alaska Airlines' goal of net zero carbon emissions by 2040
• Expected lower operating costs due to fuel efficiency
• Improved passenger comfort and quieter flying experience

Negative

• None.

News Market Reaction

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On the day this news was published, ALK gained 2.60%, reflecting a moderate positive market reaction.

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JetZero's pioneering blended wing body aircraft contributes to aviation's sustainability journey with significant improvements in fuel efficiency

SEATTLE, Aug. 13, 2024 /PRNewswire/ -- Alaska Airlines announced today an investment in JetZero, a pioneering company developing a new blended-wing body (BWB) aircraft that will provide up to 50% less fuel burn and lower emissions. The investment reflects Alaska's commitment to advance new technology that will benefit the future of aviation, including those that enable the airlines' path to net zero carbon emissions. Alaska invested as part of JetZero's Series A last year and is the first airline to do so.

The investment, which includes options for future aircraft orders, was made through Alaska Star Ventures (ASV), the airline's investment arm whose purpose is to influence the future of the aviation industry. ASV is focused on identifying and enabling the technologies that can help Alaska reach its ambitious goal of net zero carbon emissions by 2040. This initiative is one piece of Alaska's comprehensive sustainability strategy along with operational efficiency, fleet renewal, sustainable aviation fuel, waste reduction, and electrified aircraft.

"At Alaska, we are always looking for ways to innovate and shape the future of air travel for our guests, employees, and industry," said Diana Birkett Rakow, senior vice president of public affairs and sustainability at Alaska Airlines. "We are proud to invest in JetZero's development of this innovative next-generation aircraft, with a significant step-change in fuel efficiency. We and JetZero share a vision for more sustainable aviation, and we are excited to partner with them in creating that future."

JetZero's BWB aircraft stands out with its innovative design that integrates the wings and fuselage into a single smooth shape, greatly reducing aerodynamic drag. Due to an expected 50% fuel reduction compared to the current tube-and-wing design, the BWB will result in potential lower carbon emissions and operating costs. The aircraft's spacious interior will enable innovative seating arrangements with benefits to passenger comfort, such as a quieter and more enjoyable flying experience. Its unique shape will significantly reduce weight and drag and offers great promise in contributing to a more sustainable future in aviation.

"The biggest challenge for airlines is lowering fuel burn and emissions. Of all the great new technologies in work, the BWB design delivers the biggest impact by far. Airlines will see immediate benefit in cost savings, dramatically lower emissions and improved customer experience, compared to airplanes flying today," said Tom O'Leary, CEO and co-founder, JetZero. "We're thrilled to welcome Alaska to our team of innovators, and our belief that this aircraft will reshape aviation."  

While the BWB design is not new, JetZero has shown unique leadership in collaborating closely with the United States Air Force, NASA, and the FAA to develop its revolutionary blended wing aircraft and ultimately bringing it to market.  

About Alaska Airlines
Alaska Airlines and our regional partners serve more than 120 destinations across the United States, the Bahamas, Belize, Canada, Costa Rica, Guatemala and Mexico. We offer our guests a premium flying experience with award-winning customer service and an industry-leading loyalty program, Mileage Plan. With our fellow oneworld Alliance members and additional global partners, our guests have more choices than ever to purchase, earn or redeem on alaskaair.com across 30 airlines and more than 1,000 worldwide destinations. Learn more about Alaska at news.alaskaair.com and follow @alaskaairnews for news and stories. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK). More information on Alaska's sustainability strategy is available at alaskaair.com/content/about-us/esg.  

About JetZero
JetZero, co-founded by aerospace legend Mark Page, is developing the world's first commercial blended wing body (BWB) airplane. With up to 50% lower fuel burn and carbon emissions compared to existing commercial airliners, JetZero's BWB offers the aviation industry a clear path to achieving its 2050 net-zero goals. Working alongside the US Air Force, NASA, and the FAA, and backed by decades of investment and research into blended wing technology, JetZero looks to enter commercial service by 2030. 

 

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SOURCE ALASKA AIRLINES

FAQ

What is the fuel efficiency improvement of JetZero's blended-wing body aircraft for Alaska Airlines (ALK)?

JetZero's blended-wing body aircraft is expected to provide up to 50% less fuel burn compared to current tube-and-wing designs, potentially resulting in significant fuel efficiency improvements for Alaska Airlines (ALK).

How does Alaska Airlines' (ALK) investment in JetZero contribute to its sustainability goals?

Alaska Airlines' (ALK) investment in JetZero aligns with its goal of achieving net zero carbon emissions by 2040. The blended-wing body aircraft's improved fuel efficiency and lower emissions support Alaska's comprehensive sustainability strategy.

What are the potential benefits of JetZero's aircraft design for Alaska Airlines (ALK) passengers?

JetZero's blended-wing body aircraft design is expected to offer Alaska Airlines (ALK) passengers a quieter and more enjoyable flying experience, with innovative seating arrangements and improved comfort due to the spacious interior.

When did Alaska Airlines (ALK) make its investment in JetZero?

Alaska Airlines (ALK) invested in JetZero as part of the company's Series A funding round last year, becoming the first airline to do so.