Alaska Air Group (ALK) Invests in JetZero

Alaska Airlines (NASDAQ: ALK) 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.

You May Also Be Interested In

• Gulfport Energy and Mobility Global to join S&P SmallCap 600
• AES stockholders approve $10.7 billion takeover by GIP and EQT
• Larimar Therapeutics to host investor event on June 29