Category: German (Page 5 of 14)

Norse Atlantic Airways Q2 report shows strong growth momentum going into Q3 2023

September 1, 2023 / WIL BALDWIN

CEO, Founder and largest shareholder, Bjorn Tore Larsen:

“Q2 marked a significant period of ramping-up as we inaugurated new destinations in the US and Europe. Additionally, more of our fleet of fuel efficient Boeing 787 Dreamliners were brought into production. By the end of Q2 the airline had more than doubled capacity, with June being our first month of increased production, and notably our first month generating bottom line profits.

Q3 is expected to be our first financial quarter generating a profit. The move to profitability is driven primarily by having all 15 aircraft generating revenue for the first time, from July 1st; 10 of which are operating for Norse and five generating revenue through sublease income.

A milestone was passed during Q3 as we surpassed one million booked passengers. By providing affordable air fares on competitive and established routes to key primary airports and destinations, we allow more people to explore the world and enjoy the experience of long-haul travel whether for leisure or business. Norse will be the first truly low-cost profitable long-haul airline”.

For further information please see Q1 2023 report and company update presentation attached.

• Revenue increased by 152% quarter-on-quarter (“QoQ”) to USD 100.1 million

• 204,564 passengers carried, up 86% QoQ

• Revenue per passenger increased 89% QoQ to USD 422

• Available Seat Kilometres (ASK) up by 51% QoQ due to planned ramp-up as Norse brought more aircraft into production

• Positive EBITDAR of USD 2.2 million, the first positive EBITDAR on a quarterly basis since inception of the Company

• Intra-quarter Norse recorded its first profitable month (June) and continued positive momentum

into Q3

• Load factors showed strong development during the quarter, with monthly average load factors of 67%, 72% and 82% in April, May and June respectively. The positive development continued post quarter end with an average load factor of 85% in July

• USD 19.0 million cash generated from operations in the quarter, an increase of USD 39.8 million QoQ

• Total cash held at quarter end of USD 59.1 million

• As communicated in November 2022 in relation to a private placement at the time, Norse made good on its promise to shareholders that it would perform a repair offering, which it completed during the quarter, raising NOK 150 million gross (USD 14.1 million)

• Norse upgraded to Euronext Expand at Oslo Stock Exchange, a regulated market, during the quarter

• Heavy increase in production through Q3 compared to Q2 with all Norse aircraft generating revenue for the first time from 1st July 2023

Airbus opens new A321XLR equipment installation hangar

August 31, 2023 / WIL BALDWIN

Hamburg, Germany, August 30, 2023 – Airbus (OTC: EADSY) is advancing its industrial system and expanding ramp-up capacity with a new automated A321XLR equipping hangar, officially opened today by Hamburg’s First Mayor Peter Tschentscher and German Aerospace Coordinator Anna Christmann. With this, Airbus continues its modernisation and digitalisation of its industrial system and expands its capacity for the rate ramp-up in the A320 programme to 75 in 2026.

Hamburg, 30 August 2023 – Airbus is advancing its industrial system and expanding ramp-up capacity with a new automated A321XLR equipping hangar, officially opened today by Hamburg’s First Mayor Peter Tschentscher and German Aerospace Coordinator Anna Christmann. With this, Airbus continues its modernisation and digitalisation of its industrial system and expands its capacity for the rate ramp-up in the A320 programme to 75 in 2026.

“Airbus’ Hamburg site plays a significant role in the development and production of the A321XLR. With our new, state-of-the-art equipment installation hangar, we are now expanding our capacity to manufacture A321 fuselages and making an important contribution to supporting our ramp up. At the same time we are reaffirming the importance of Hamburg for Airbus,” said André Walter, Head of Airbus Commercial Aircraft Production in Germany. “The design of the building reflects the latest standards in production and sustainability.”

Dr Peter Tschentscher, First Mayor of the Free and Hanseatic City of Hamburg: “Hamburg is the central location for Airbus’ single-aisle development and production. With the A321XLR, the new flagship of the A320 Family will be assembled at the Finkenwerder site, setting new standards in terms of sustainability, efficiency and range. The start of production in the new equipment installation hangar is an important project for Hamburg as the world’s third largest civil aviation center.”

“This investment in the A321XLR equipment installation hangar at the Airbus Hamburg site is an important milestone towards transitioning aviation to climate neutrality. This transformation is the key to making Germany a future-oriented and competitive aerospace location,” said Anna Christmann, the Federal Government Coordinator of German Aerospace Policy. “I am delighted that Airbus is positioning itself as a trailblazer in sustainable aviation and that we are pulling together to accelerate progress toward climate-neutral aviation even further.”

In the new equipment installation hangar, with 9,600 m² of production space, designated H259, all the components of the rear fuselages of the A321XLR aircraft – also built in Hamburg – will be installed and mounted. The hangar is equipped with a full range of state-of-the-art technologies for operations and manufacturing, such as automated logistics, fully digital systems, and test stations that can output the status of each fuselage section (both in terms of logistics and resources) at any time. The almost 24-metre-long fuselage sections are equipped with all electrical and mechanical systems, as well as other elements such as windows, floor panels or external antennas, on an automated ‘pulse line’ consisting of eight stations. Each fuselage section is extensively tested directly after the installation of the systems. The fuselage sections are then transferred to the final assembly line in Hamburg.

The stations in the new hangar were planned in close consultation with the employees to create both an efficient production flow and an ergonomically optimised and modern working environment. In addition, the interior design also focused on ensuring optimal conditions for cooperation between the employees in production and the supporting functions.

The structure was planned and built sustainably. A 3,000 m² photovoltaic system on the roof supplies the hangar with electricity, and surpluses are used to power the site. The office block on the south side offers an excellent level of insulation thanks to extensive insulation of the ceiling and walls. A fully automatic control system for heating, ventilation and lighting complements the measures.

Norse Atlantic reports 85% load factor and continued strong summer demand for July

August 11, 2023 / WIL BALDWIN

Arendal, Norway, July 10, 2023: During July, Norse Atlantic Airways (NORSE.OL) recorded an aggregate load factor for the month of 85%, an increase of two per centage points compared to the previous month and the fifth month in row that the company has recorded an increase in load factor. Norse Atlantic Airways operated a total 524 flights, an increase of 173 flights compared to the previous month. 62.5 per cent of operated flights arrived within 15 minutes of the scheduled arrival time. The company operated 100 per cent of scheduled flights for the third consecutive month. Norse Atlantic carried 150,621 passengers in July, an increase of 53,594 compared to the previous month.

Norse Atlantic Airways announced the launch of new direct flights connecting Paris to Miami from 11th December 2023 and Berlin to Miami from 15th December 2023 as part of its upcoming winter schedule. With the addition of these new routes, Norse Atlantic Airways continues to strengthen its position as a leading carrier for European passengers seeking affordable winter sun destinations.

During the month Norse Atlantic surpassed the milestone of one million booked passengers since the launch of ticket sales in April 2023.

A.P. Moller – Maersk reports robust Q2 financial results in difficult market

August 7, 2023 / WIL BALDWIN

Copenhagen, Denmark – A.P. Moller – Maersk (OTC: AMKBY) reports a second quarter of 2023 ahead of expectations, while the ongoing market normalisation continued through the quarter leading to lower volumes and lower rates. Revenue stood at USD 13.0bn compared to USD 21.7bn in Q2 2022 while profitability was strong at 12.4% although significantly lower compared to the extraordinarily strong Q2 2022. Reflecting the strong first half performance, Maersk raises its financial outlook and now expects underlying EBITDA of USD 9.5 – 11.0bn (previously USD 8.0 – 11.0bn), underlying EBIT of USD 3.5 – 5.0bn (previously USD 2.0 – 5.0bn) despite a weakened second half market outlook.

Ocean revenue decreased to USD 8.7bn from USD 17.4bn driven by a decrease in freight rates and loaded volumes. While the volume and rate environment stabilized at a lower level during Q2, Ocean continued to be impacted by lower demand, driven by a significant inventory correction in particular in North America and Europe. A strong cost management allowed to partially offset the top line impact on financial performance in Ocean.

Revenue in Logistics & Services was USD 3.4bn compared to USD 3.5bn. The segment was also impacted by lower volumes due to the continued destocking and weaker consumer demand, as well as low rates. As in Ocean, market demand is expected to continue to be subdued as long as the inventory correction is ongoing.

Revenue in Terminals decreased to USD 950m from USD 1.1bn and was influenced by the normalisation of storage revenue and lower volumes amid lower consumer demand and less congestion in North America. Strong cost control contributed to a continued solid financial performance.

Hapag-Lloyd successfully completes SM SAAM terminal business acquisition

August 1, 2023 / WIL BALDWIN

Hapag-Lloyd (OTC: HPGLY) today successfully completed its 100 % acquisition of SM SAAM’s terminal business and related logistics services, which is based on an agreement announced in October 2022. The transaction was approved unconditionally by the relevant antitrust authorities of all countries involved in this acquisition process.

Investing in terminal infrastructure is a key element of Hapag-Lloyd’s strategic agenda, and Latin America is one of its key markets. The transaction includes interests in terminals in Iquique, Antofagasta, San Antonio, San Vicente and Corral (Chile), Port Everglades (United States / Florida), Mazatlán (Mexico), Buenavista (Colombia), Guayaquil (Ecuador) and Caldera (Costa Rica) as well as related logistics services. The acquisition will further strengthen Hapag-Lloyd’s core liner shipping business and help the carrier to build up a robust and attractive terminal portfolio.

The new entity will be led by its CEO, Mauricio Carrasco, who has been Managing Director for the Terminals Division within the SAAM Group since 2020. Mauricio Carrasco is an experienced senior executive with long-standing experience in Latin America and globally. He has served as Senior Vice President of Development at CSAV and as Senior Director at Hapag-Lloyd, with responsibilities in the Americas, China, Dubai, and India. Rodolfo Díaz, former Senior Director Business Administration Region Latin America at Hapag-Lloyd, will join him as CFO.

Hapag-Lloyd has continuously expanded its involvement in the terminal sector and holds stakes in the Container Terminal Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, the Italy-based Spinelli Group, the India-based J M Baxi Ports & Logistics Limited, Terminal TC3 in Tangier, and Terminal 2 in Damietta, Egypt, which is currently under construction.

Lufthansa and HCS Group sign Letter of Intent on production & supply of Sustainable Aviation Fuel Made in Germany

August 1, 2023 / WIL BALDWIN

The Lufthansa Group (OTC: DLAKY) and the HCS Group have signed a Letter of Intent (LoI) to partner on the production and supply of Sustainable Aviation Fuel (SAF). From the beginning of 2026, the HCS Group could supply the Lufthansa Group with SAF produced in the so-called Alcohol-to-Jet (AtJ) technology. The SAF, made from biogenic residues from agriculture and forestry, will be produced at the HCS Group production site in Speyer, operated by Haltermann Carless. SAF is a key element for more sustainable flying and thus for decarbonization in aviation.

With its engagement in the HCS Group the Lufthansa Group could support SAF ‘Made in Germany’, compliant with Europe’s Renewable Energy Directive RED II. The production site is logistically favorably located near the Lufthansa Group’s Frankfurt hub. The HCS Group offers sustainable hydrocarbon solutions to its customers. With the planned initial production volume of 60,000 metric tons of SAF per year, the chemical company aims to become the first large-scale producer of biogenic SAF in Germany.

The LoI with the HCS Group underpins the Lufthansa Group’s goal of driving forward the market ramp-up and use of Sustainable Aviation Fuels as a core element of its sustainability strategy. Today, the Lufthansa Group is one of the five largest SAF customers worldwide and is investing up to USD 250 million in the procurement of SAF for the coming years. In addition, the Lufthansa Group is working on numerous projects worldwide to increase SAF availability and is continuously examining further options for long-term purchase agreements.

Akiem orders 15 locomotives from Siemens increasing fleet to 100 Vectrons

July 31, 2023 / WIL BALDWIN

Akiem, a leading European rolling stock leasing company, has ordered an additional 15 Siemens (OTC: SIEGY) Vectron AC and Vectron MS locomotives from Siemens Mobility. The order was placed as part of a framework agreement for the purchase of locomotives that was signed in December 2021. Locomotives from this new call will be delivered between 2025 and 2027. Akiem previously ordered 20 Vectron locomotives from Siemens Mobility in December 2021 and an additional 65 units last August.

The ordered locomotives have a maximum power of 6.4 megawatts and can be delivered with a top speed of either 160 or 200 km/h. They can be used for cross-border freight transport as well as fast passenger service in a number of European countries.

To date, Siemens Mobility has sold more than 1,800 Vectron locomotives to 66 customers in 16 countries, and the fleet has covered over 750 million kilometers in service. Locomotives based on the Vectron platform have been approved for operation in 20 European countries.

Alstom and RAILPOOL sign a contract for 50 Traxx Universal locomotives

July 24, 2023 / WIL BALDWIN

July 24, 2023 – Alstom (OTC: ALSMY), global leader in smart and sustainable mobility, and RAILPOOL, one of Europe’s leading rail vehicle leasing companies, have signed a contract for 50 Traxx Universal multi-purpose locomotives. The contract is valued at up to 260 million euro.

The Traxx Universal multi-purpose locomotives can be operated for freight and passenger corridor services. Characterised by both high reliability and flexibility in combination with an optimised power consumption, the locomotives are a proven solution for efficient cross-border operations. Extended maintenance intervals allow for less interventions to ease operational planning, reduce costs and increase availability. The locomotives will cover operations in eight countries, namely Germany, Austria, Switzerland, France, Italy, Belgium, Luxemburg and Poland.

The engineering of the locomotives will be done at the Alstom site in Mannheim, Germany, while final assembly is planned to take place in Kassel, Germany. Other sites involved are Wroclaw, Poland (carbody shell production), Siegen, Germany (bogies production), and Zurich, Switzerland (project management).

Maersk expands its global air freight services with new Atlanta strategic air cargo hub

July 19, 2023 / WIL BALDWIN

Maersk (OTC: AMKBY) is strengthening our promise to customers of integrated, end-to-end logistics solutions by growing our air freight services in a strategic transportation hub. The new Atlanta facility enhances our offering, providing customers with superior supply chain flexibility supported by our expanded regional capabilities in warehousing and transportation. We will be able to leverage this connectivity to bolster our air freight network across North America, Europe, Asia Pacific, and the world.

Located in Atlanta Tradeport’s Foreign Trade Zone, the new air cargo facility enjoys lower duties, reduced processing fees, and quicker movement of goods from the port of Savannah. The site is located just two miles from Atlanta Hartsfield-Jackson International Airport and has direct access to interstates I-75 and I-285.

The new Atlanta facility builds on several initiatives designed to bolster Maersk’s air freight services in North America. The company recently opened a new Chicago air freight gateway facility to add more supply chain integration opportunities for customers using Chicago O’Hare International and Rockford International. Prior to that, Maersk also launched a new air freight service with regular flights between South Carolina, Korea, and China operated by Miami-headquartered cargo airline Amerijet International.

Akiem & Alstom sign new framework agreement for 100 Traxx locomotives

July 17, 2023 / WIL BALDWIN

17 July 2023 – Alstom (OTC: ALSMY), global leader in smart and sustainable mobility, and Akiem European rolling stock leasing company have signed a framework contract for 100 Traxx Universal multi-system (MS3) locomotives. The firm part of the order includes 65 locomotives. The total amount of the framework agreement is up 500 million euros. Akiem confirms its leadership on the leasing European market and its ambition to contribute to the rail market’s accelerating activities, with major investment on corridors from France to 12 other European countries.

The Traxx Multi-system locomotives benefit from optimised energy consumption and can run both Freight and Passenger operations at a speed of up to 160 kilometres per hour. They will cover operations in 12 European countries: Germany, Austria, Switzerland, France, Italy, Belgium, Netherlands, Luxemburg, Hungary, Poland, Czech Republic, Slovakia. As a unique feature for multi-system locomotives, a part of them will be delivered with the last mile feature enabling to access ports, terminals or industrial sites without the need of a shunting locomotive.

All locomotives will be equipped with the leading signalling system ATLAS, Alstom’s onboard solution for the European Train Control System (ETCS). This system comes with the broadest coverage of countries and lines, both in ETCS as well as for legacy system operation, and superior two-out-of-three architecture.

Final assembly is planned to take place at the Alstom site in Kassel, Germany. Deliveries of the units are scheduled to take place between 2025 and 2028.

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