SpiceJet (SG, Delhi International) Chairman Ajay Singh is reportedly in talks with JetBlue Airways Technology Ventures regarding potential shared investments in US start-ups, The Economic Times has reported.
The newspaper's sources specified that a potential agreement would be signed directly between Singh and the US carrier's investment arm. SpiceJet as a company would not be involved, although it would likely stand to benefit from the implementation of new technologies.
Singh is reportedly looking at investing in start-ups which offer products beneficial not only to the airline, but also to the wider travel industry.
His first non-strategic investment could be Airbuy, an MIT-based start-up specialised in linking airline and airport retail offers. In July, Singh told reporters that he is looking at a tie-up between SpiceJet and two major international companies in the United States, including one airline and one technological firm. He did not name any potential partners at that time.
JetBlue Technology Ventures already invested in 15 start-ups, including Joby Aviation and Zunum Aero, two companies working on fully-electric small aircraft.
