United Airlines Ventures has launched the Sustainable Flight Fund on February 21, with the aim of investing in startups focused on reducing carbon emissions in air travel. Loyalty programme members are incentivised to contribute with the first 10,000 contributors to receive 500 MilleagePlus Miles as a reward.
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United AirlinesUnited Airlines Ventures has launched the Sustainable Flight Fund on February 21, with the aim of investing in startups focused on reducing carbon emissions in air travel. The fund will seek contributions from both businesses and customers and will specifically focus on financing research, production, and technologies associated with sustainable aviation fuel (SAF). The UAV Sustainable Flight Fund will start with $100 million in investments from United and its initial partners, which include aerospace manufacturers such as Boeing and GE Aerospace, financial services company JPMorgan Chase, another airline – Air Canada.
United Airlines is allowing its passengers to contribute to a fund that supports the airline’s investment in decarbonization efforts. When purchasing a ticket on the United Airlines website, passengers will have the option to add a small amount of money to the fund, ranging from $1 to $7. This is not an equity crowdfunding opportunity, and contributors should not expect any financial returns. The initiative is more like an offsetting-like option, focused on supporting decarbonization efforts rather than simply providing carbon credits. The first 10,000 contributors will receive 500 MilleagePlus Miles as a reward.
