Alaska Airlines forms venture lab

Alaska Airlines has joined forces with UP.Labs to form the Airline Venture Lab. 

The partnership aims to build startups to address challenges facing Alaska Airlines and the future of aviation.

Airline Venture Lab is looking to launch its first startup in 2024 and will focus on identifying solutions for “the greatest areas of friction within aviation,” according to a statement. This could include airline operational efficiency or the traveler experience.

Alaska Airlines CEO Ben Minicucci said, “Innovating with new technologies to solve problems and better serve our guests is in our DNA. Thirty years ago, we pioneered the use of RNP [required navigation performance] technology, allowing us to fly more efficient flight paths and to serve communities safely and reliably in regions with challenging flight conditions. We were the first to sell tickets online and to use the Flyways machine learning software to make flight paths even more efficient and sustainable in today’s crowded airspace.”

The airline already has a relationship with investment firm UP.Partners and is limited partner in its venture fund UP.Ventures.

Former Sabre CEO Sean Menke joins the Airline Venture Lab as senior advisor and investment committee member. Menke is currently executive chairman of Sabre and former CEO of Frontier and Pinnacle Airlines.

Alaska is not alone in setting up a lab to address some of aviation’s big challenges. Delta established its Sustainable Skies Lab earlier this year to focus on reaching net zero by 2050.

El Al with its Cockpit program in 2015 and Lufthansa the year before were among the first carriers to establish venture labs. Lufthansa Innovation Hub has since launched and spun off startups that include Squake and Navit (formerly RYDES).

JetBlue and British Airways  parent IAG joined the fray in 2016 with the establishment of venture capital arm JetBlue Technology Ventures and Hangar 51, respectively.

Source: PhocusWire

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