JetBlue Sells Venture Capital Arm in Bid to Boost Profitability

Key Points

• JetBlue sold its venture capital arm, JetBlue Ventures, to Sky Leasing to focus on core operations and boost profitability.
• The sale follows JetBlue's recent financial struggles, including a significant net loss and failed mergers, prompting speculation about future partnerships.
• JetBlue Ventures will retain its name and leadership, and JetBlue will continue as a strategic partner to the portfolio companies.

Summary

JetBlue has sold its venture capital subsidiary, JetBlue Ventures, to Sky Leasing in an effort to enhance profitability and sharpen its focus on core operations. Despite the sale, JetBlue will remain a strategic partner to JetBlue Ventures, which keeps its name and CEO Amy Burr. This move comes amid ongoing financial challenges for JetBlue, including a substantial first-quarter loss, failed mergers, and speculation about a possible partnership with United Airlines.