US carrier United Airlines has launched United Airlines Ventures – a corporate venture fund which will allow the airline to invest in "high potential" companies which focus on sustainability, aerospace and other "innovative" technologies, to "make air travel better".
United reports during the last six months it has agreed to invest in, collaborate with and purchase aircraft from Archer Aviation as part of the venture.
Current vice-president of corporate development and investor relations Michal Leskinen will assume the role of president of United Airlines Ventures.
He said: "United has always been a pioneer within the industry, and United Airlines Ventures will help us grow companies that are pushing the envelope to make air travel better for our customers, our employees and our planet.
"We’re making more than a financial commitment to companies within this new portfolio; we’re lending our expertise so that new ideas can really take off."
On 4 June the airline agreed a deal to purchase 15 new supersonic aircraft which could fly from New York to London in just three-and-a-half hours.