JetBlue is selling its investment arm to Sky Leasing, an aviation investment manager, as it focuses on returning the airline back to profitability.
US aviation company JetBlue has sold off its JetBlue Ventures investment arm to aviation investment manager Sky Leasing, as the business focuses on returning back to profitability.
“This transaction enables us to focus on our core airline operations,” said Joanna Geraghty, chief executive officer of 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.”
JetBlue reported a net loss of $208m in the first quarter of 2025, significantly widened from the previous quarter, and saw a 3.1% decline in net revenue. The airline is cutting unprofitable routes, deferring new aircraft order and revising seat pricing structures in a bid to cut costs and revive revenues.
The JetBlue Ventures team will continue to be led by Amy Burr and will retain a strategic relationship with JetBlue. The ventures team will continue to manage all current and future investments and JetBlue will continue to hold positions in all existing portfolio companies. The JetBlue Ventures brand will remain as part of a brand licensing agreement with JetBlue.
“We are going to be investing in the travel and transportation ecosystem, as we have before. We will continue to have a strong, strategic partnership with JetBlue,” Burr told GCV. But, she said, the move will allow the team to have more impact across the aviation sector.
“This allows us to supercharge innovation thinking and programs to the industry,” she said.
Importantly, the split will free JetBlue Ventures to seek funding from other LP investors for the first time. JetBlue Ventures was previously funded directly from the JetBlue balance sheet.
“It will open up the door for us to seek out outside capital,” said Burr, but did not disclose any further detail about a future fund. She added that the JetBlue Ventures team would benefit from being part of Sky Leasing, because of the company’s broad reach across the aviation sector.
“They do have this incredible global reach, incredible network of relationships, and also have this incredible access and experience with the capital markets,” she said.
Headquartered in San Francisco, Sky Leasing owns a fleet of aircraft which it leases to aviation companies. The company manages more than $5bn of airline assets and in April raised a new $1.35bn fund earmarked for acquiring more new-technology aircraft.
Founded in 2016, JetBlue Ventures invests in emerging technology for the travel ecosystem. It has made investments in 55 early-stage startups and has made more than 40 follow-on investments. Eight of these investments have resulted in exits in the form of acquisitions or public offerings.
“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 Geraghty.
The terms of the transaction were not disclosed.
Maija Palmer
Maija Palmer is editor of Global Venturing and puts together the weekly email newsletter (sign up here for free).
