Japan Airlines has made a US$70m investment in establishing a new corporate venture capital fund that will focus on investing in travel-related technology. The Japan Airlines Innovation Fund will be managed by US venture capital firm TransLink Capital, through which “JAL will proactively act with speed; promote collaboration and co-creation with start-up companies featuring state-of-the-art technology.” It adds that the objectives of the fund are to enhance the product offerings of the airline as a full-service carrier, leverage JAL’s assets to focus on new types of transportation, and strengthen the opportunities for its employees to work alongside start-up companies. The creation of the fund is in-line with JAL’s latest medium-term management plan. <br/>
oneworld
Japan Airlines and Marubeni Corporation will establish a business jet services company that will commence operations during the spring of 2019. JAL Business Aviation Co will have paid-in capital of US$1.37m, with JAL holding a 51% stake and Marubeni the remainder. It will be headquartered in Tokyo. Its key operations will include arranging charter flights, aircraft management and operational support services for business jets, such as concierge and airport handling. JAL says that the venture will “meet the expanding demand of the service in Japan.” Rival ANA teamed up with Sojitz Corporation to launch its own private jet operation, ANA Business Jet, last year. The company uses HondaJets which offers connecting services to ANA flights at Chicago O’Hare International and Los Angeles International. <br/>