United Airlines announced an investment in JetZero, a developer of a blended wing body (BWB) aircraft anticipated to improve fuel efficiency by up to 50% relative to current aircraft models.
The investment includes conditional purchase agreement to order up to 100 airplanes, based on JetZero achieving development milestones including flight of a full-scale demonstrator in 2027, as well as an option for an additional 100 planes.
Founded in 2021, California-based JetZero is designing a plane that integrates the wings and fuselage into a single smooth shape, reducing aerodynamic drag, and leading to lower fuel needs, emissions and operating costs. The aircraft will be compatible with sustainable aviation fuel and can also provide benefits including an enhanced passenger experience with larger seats and wider aisles, while also being expected to integrate easily into current airport infrastructure.
JetZero announced a $235 million contract with the US Air Force in 2023 to fast-track the development of JetZero’s full scale demonstrator, with the agreement focused on advancing airframe technology and capabilities, showcasing its potential, and providing the Department of Defense and commercial industry more options to reduce fuel consumption and emissions. Over the past few months, the company has also announced investments and partnerships with airlines including Delta and Alaska Airlines.
JetZero CEO and co-founder Tom O’Leary said:
“United’s investment in our company signals the industry’s belief that new, innovative technology is needed in order to achieve the efficiency and cost savings that will be required to meet the continued growth in demand for air travel across the globe. JetZero is focused on one key technology – the airframe – that enables us to address all of the barriers to growth. This program is the only one in development today that promises efficiency and an elevated customer experience.”
United has set a goal to fully reduce greenhouse gas emissions by 2050 without relying on carbon offsets. The investment was made through its corporate venture capital fund, United Airlines Ventures (UAV), which targets investments in companies developing technologies with the potential to revolutionize aerospace developments, create value for customers and United’s operation and complement the airline’s net zero emissions goal.
Andrew Chang, head of United Airlines Ventures, said:
“United Airlines Ventures was created to support our efforts to find innovative companies that can enhance the customer travel experience and help the airline lower its carbon footprint, and we believe JetZero reflects that philosophy.”
