SKY Leasing Announces Acquisition of JetBlue Ventures

Rhea-AI Summary

SKY Leasing has acquired JetBlue Ventures, JetBlue Airways' (NASDAQ: JBLU) venture capital subsidiary, marking a strategic shift in JetBlue's focus towards its core airline operations. The acquisition aligns with JetBlue's JetForward strategy to restore profitability and compete effectively against legacy carriers. Since its 2016 founding, JetBlue Ventures has invested in 55 early-stage startups and made over 40 follow-on investments, resulting in 8 successful exits through acquisitions and public offerings.

Under the agreement, JetBlue will maintain positions in existing portfolio companies and continue as a strategic partner. The JetBlue Ventures team, led by Amy Burr, will continue managing investments while focusing on emerging enterprise technology and frontier tech solutions in travel and transportation. Financial terms were not disclosed.

Positive

• JetBlue maintains strategic partnership and positions in existing portfolio companies without operational burden
• Allows JetBlue to focus on core airline operations and JetForward profitability strategy
• JetBlue Ventures retains its successful management team and investment focus
• Transaction provides potential financial flexibility for JetBlue while maintaining innovation access

Negative

• JetBlue loses direct control over its venture capital arm
• Undisclosed transaction terms create uncertainty about financial impact
• Potential reduced influence over future investment decisions in travel innovation

SAN FRANCISCO and NEW YORK, May 5, 2025 /PRNewswire/ -- SKY Leasing ("SKY"), a leading aviation investment manager, and JetBlue Airways (NASDAQ: JBLU) today announced that SKY has acquired JetBlue Ventures, JetBlue's venture capital subsidiary. This transaction will usher in the next era of growth for JetBlue Ventures, with expanded opportunities to support founders and scale game-changing technologies by leveraging SKY's deep industry relationships, global reach, and access to capital. JetBlue will continue to serve as a strategic partner to JetBlue Ventures and its portfolio companies.

"We are thrilled to welcome JetBlue Ventures into the SKY family," said Matthew Crawford, Co-Chief Investment Officer at SKY. "Through our aviation partnerships around the world, we are witnessing firsthand the rapid advancements and innovations in the travel industry, and as a long-term partner to JetBlue, we have consistently admired JetBlue Ventures' track record of nurturing these groundbreaking technologies. This transaction is a natural evolution of our partnership and will provide us, our investors, and our global aviation partners with direct access to the cutting-edge innovations and technologies shaping the future of travel."

"We founded JetBlue Ventures to invest in, incubate, and partner with early-stage startups that would shape the future of travel, and by all measures it's been an incredible success," said Joanna Geraghty, chief executive officer, JetBlue. "As we look at the needs of our airline today, we are fully focused on our JetForward strategy to get JetBlue back to profitability and set us up for long-term success as we compete against the legacy carriers. This transaction enables us to focus on our core airline operations, while maintaining our access to the innovations and opportunities of current and future portfolio companies through our ongoing strategic partnership with JetBlue Ventures."

Since its founding in 2016, JetBlue Ventures has invested in 55 early-stage startups and made over 40 follow-on investments, resulting in eight exits in the form of acquisitions and public offerings. The JetBlue Ventures team, which will continue to be led by Amy Burr, will remain focused on investing in emerging enterprise technology and frontier tech solutions across the travel and transportation ecosystem.

JetBlue Ventures will continue to manage all current and future investments, with JetBlue continuing to hold positions in all existing portfolio companies. The JetBlue Ventures brand will remain as part of a brand licensing agreement with JetBlue. The terms of the transaction were not disclosed.

Advisors
Kirkland & Ellis LLP served as legal counsel for SKY, Cooley LLP served as legal counsel for JetBlue, and DJL Corporate Law, PC served as legal counsel for JetBlue Ventures.

About SKY Leasing

SKY Leasing ("SKY") is an alternative investment manager dedicated to providing asset-focused capital solutions to airlines globally. With a global presence across five offices in San Francisco, Dublin, New York, Miami, and Singapore, SKY leverages a 30-year history of global aviation relationships, technical asset management expertise, and a disciplined investment framework, to originate unique investment opportunities with an emphasis on seeking downside protection and stable cash flow. The company's fund management business was founded in 2019 with a minority investment from M&G Investments. As of March 2025, the company manages over $5 billion of aviation assets. For more information about SKY Leasing, visit www.skyleasing.com.

About JetBlue Ventures

JetBlue Ventures (JBV) is an early-stage venture capital firm focused on companies redefining the travel and transportation landscape, with an emphasis on enterprise and frontier technologies. Founded in 2016 as JetBlue's corporate venture capital arm, JBV is now part of SKY Leasing, a premier aviation asset manager. Based in San Francisco, the firm has made over 50 investments across the travel, hospitality, and transportation industries. Learn more at www.JetBlueVentures.com.

Contacts

SKY Leasing
Anne Marie Scaramuzza
amscaramuzza@skyleasing.com

JetBlue Ventures
Anna Shimoda
anna@jetblueventures.com

View original content:https://www.prnewswire.com/news-releases/sky-leasing-announces-acquisition-of-jetblue-ventures-302445346.html

SOURCE SKY Leasing

FAQ

Why did JetBlue sell JetBlue Ventures to SKY Leasing?

JetBlue sold JetBlue Ventures to focus on its core airline operations and JetForward strategy aimed at returning to profitability while competing against legacy carriers. The company will maintain strategic partnership benefits without operational burden.

What is JetBlue Ventures' investment track record since 2016?

Since 2016, JetBlue Ventures has invested in 55 early-stage startups, made over 40 follow-on investments, and achieved 8 successful exits through acquisitions and public offerings.

Will JetBlue maintain any involvement with JetBlue Ventures after the SKY Leasing acquisition?

Yes, JetBlue will continue as a strategic partner to JetBlue Ventures and maintain its positions in all existing portfolio companies. The JetBlue Ventures brand will remain through a licensing agreement.

Who will lead JetBlue Ventures after the acquisition by SKY Leasing?

Amy Burr will continue to lead the JetBlue Ventures team, focusing on investing in emerging enterprise technology and frontier tech solutions across travel and transportation.

How much did SKY Leasing pay for JetBlue Ventures?

The financial terms of the transaction were not disclosed in the announcement.