EmbraerX, Embraer’s disruptive business subsidiary, announces its expansion into the commercial air cargo market, via a collaboration agreement with Elroy Air, at CES 2020. This collaboration will allow the companies to accelerate the unmanned air cargo market worldwide, leveraging Embraer’s 50 years of industry experience with Elroy Air’s bold new developments in autonomous aircraft systems.
“In order to stay the course of creating solutions that benefit humanity at large, we believe the cargo market is prime for an autonomous aircraft,” said Antonio Campello, President & CEO, EmbraerX. “Booming eCommerce is forcing the cargo market to grow and seek new solutions, creating a distinct need for more flexibility. Our holistic approach to accelerating this market will include working with Elroy Air and its Chaparral system, capable of delivering cargo (250-500 lbs) over distances up to 300 miles, as well as our work in associated services and air traffic management solutions.”
“Elroy Air aims to open a new chapter for the logistics market with point-to-point autonomous aerial cargo systems” said Dave Merrill, CEO of Elroy Air. “Elroy Air’s Vertical Takeoff and Landing (VTOL) cargo delivery aircraft, the Chaparral, will operate without airports or charging stations, and is optimized for freight with automated cargo loading and unloading. Our collaboration with EmbraerX will accelerate our path to deployment in commercial freight markets.”
This collaboration is part of EmbraerX’s multi-project approach to further develop the air mobility ecosystem and create the conditions for people and goods to move from A to B in a seamless and affordable way. Beyond cargo, EmbraerX is engaged in several projects, including the development of an Urban Air Mobility focused eVTOL, a tailored Urban Air Traffic Management (UATM) system and a fleet-agnostic business platform, designated Beacon, to streamline services.
U.S.-based Spirit Airlines has finalised a purchase agreement with Airbus for 100 A320neo Family aircraft. In October, the two parties had signed and announced a memorandum of understanding (MoU) for the purchase of up to 100 of the aircraft – a mix of A319neo, A320neo, and A321neo – to meet the airline’s future fleet requirements.
Spirit is based in South Florida and is the fastest-growing airline in the United States, with flights throughout the U.S., Latin America and the Caribbean. The airline will announce an engine selection at a later date.
Featuring the widest single-aisle cabin in the sky, the best-selling A320neo Family, comprising the A319neo, A320neo, and A321neo, will deliver a fuel-burn reduction of approximately 20% as well as 50% less noise compared to previous-generation aircraft, thanks to incorporating the very latest technologies including new-generation engines and Sharklets.
Firm orders worldwide for the A320neo Family now have surpassed 7,300 from more than 110 global customers.
LAS VEGAS, Dec. 5, 2019 /PRNewswire/ — Caesars Entertainment Corporation (NASDAQ: CZR) (“Caesars” or “Caesars Entertainment”), one of the world’s most diversified casino-entertainment providers, today announced it has completed the previously announced sale of the Rio All-Suite Hotel & Casino (the “Rio”) to a company (the “Buyer”) affiliated with Dreamscape Companies (“Dreamscape”), which is owned and controlled by Eric Birnbaum, for $516.3 million (including certain fees, expenses and $40 million in seller financing provided by a Caesars affiliate). Dreamscape acquires, repositions and/or develops hospitality, residential, retail, gaming and entertainment assets.
Caesars Entertainment Corporation logo. (PRNewsFoto/Caesars Entertainment Corporation)
In connection with the completion of the sale, a Caesars subsidiary entered into a lease with the Buyer under which Caesars will continue to operate the property for a minimum of two years and pay annualized rent of $45 million. The Buyer has the option to pay Caesars $7 million to extend the lease under similar terms for a third year. At the end of the lease term and at the request of the Buyer, Caesars may continue to manage the Rio or may provide transition services to the Buyer.
The Rio will continue to be part of the Caesars Rewards network during the lease term, and the transaction is not expected to result in any changes to the guest experience. The World Series of Poker will be hosted at the Rio in 2020 and hosting rights will remain with Caesars Entertainment thereafter. Further details on the transaction are available in the Form 8-K to be filed with the Securities and Exchange Commission.
DES MOINES, Iowa, Nov. 8, 2019 /PRNewswire/ — State and local officials joined executives from Allegiant Travel Company (NASDAQ: ALGT) today as the company announced plans to establish a two-aircraft base at Des Moines International Airport (DSM). The announcement heralds the leisure airline’s 20th base of operations, a $50 million investment which will locate two Airbus A320 aircraft in Des Moines, bringing at least 66 new, high-wage jobs to the community. The Las Vegas-based carrier will begin base operations at DSM on May 14, 2020.
“For Allegiant to select Des Moines International Airport as a base of operations is a historic day for Des Moines, our airport and the two-and-a-half million passengers who fly through our City each year,” said Des Moines Mayor Frank Cownie. “The financial investment and well-paying jobs this brings to our community is significant and most appreciated. And to those flight crews and ground personnel who will be our new neighbors, we say thank you for flying Allegiant and welcome to Des Moines.”
Iowa’s capital city and the Greater Des Moines region are the core of one of the fastest growing areas in the Midwest. Home to more than 791,000 residents, the region is known for iconic festivals and events, sports and outdoor recreation opportunities, as well as a burgeoning business environment. In recent years, Des Moines has been named among the nation’s top places to live (US News & World Report, 2018) and top locations for business and careers. (Forbes, 2017)
“In many ways, today’s announcement is the culmination of a more than 15-year relationship between Allegiant and Des Moines International Airport, where we’ve steadily grown our operation to meet increasing demand,” said Keith Hansen, Allegiant’s vice president of government affairs. “Having locally-based aircraft and crews will open up a wide range of options for new service and more flights throughout the day. We’re excited to bring more opportunities for affordable, convenient travel, and expand Allegiant’s presence as a hometown airline for Hawkeye state residents.”
Allegiant began service at DSM in 2003 and currently offers eight non-stop routes – to Orlando-Sanford, St. Pete-Clearwater, Punta Gorda, Destin-Fort Walton Beach and Sarasota, Florida; Phoenix-Mesa, Arizona; Los Angeles, California; and Las Vegas, Nevada. Allegiant in 2018 carried more than 232,000 annual passengers through Des Moines, and is on track to eclipse that number in 2019.
“The Des Moines International Airport continues to play a critical role in the economic vitality of the region with this announcement,” said Kevin Foley, Des Moines Airport Authority Executive Director. “Iowans continue to prove travel is important to them and DSM is committed to growing air service in our market. Through this partnership with Allegiant, not only will we be adding jobs in our community, we will be opening the door for new destinations and adventures.”
Allegiant, which employs more than 4,300 team members across the U.S., plans to immediately begin hiring pilots, flight attendants, mechanics and ground personnel to support the operations. The majority of the new positions are expected to offer salaries that are more than double the state’s average wage. Interested applicants may apply online.
“Allegiant’s investment in Greater Des Moines will significantly contribute to the vibrancy of our rapidly growing regional economy,” said Jay Byers, CEO of the Greater Des Moines Partnership. “The continued advancement of the Des Moines International Airport is one of our strategic priorities, and this expansion project will position DSM for multiple new destinations.”
A day after unveiling the new PC-12 NGX single-engine turboprop aircraft at the National Business Aviation Association’s annual Convention and Exhibition (NBAA-BACE), Pilatus reports very strong demand for the new aircraft across the global Authorised Pilatus Sales Centre network.
Based on the PC-12 airframe, of which more than 1,700 aircraft have been delivered, Pilatus introduces the third major evolution of the aircraft, named the PC-12 NGX. Markus Bucher, CEO of Pilatus, revealed the new aircraft at a ceremony on Monday evening. More than 200 guests were on hand for the aircraft’s public debut.
First customers of brand-new PC-12 NGX
On the first public day of NBAA-BACE, three customers were eager to be first in line to purchase the new advanced version of the PC-12.
Australian born Dion Weisler, President and CEO of HP, is the first owner to upgrade from his PC-12 NG to the new NGX. Dion Weisler said: “As an existing, proud and active owner-pilot of a 2017 PC-12 NG, I am amazed by the substantial innovation improvements in what I thought was an impossible aircraft to improve on. I am thrilled to be customer number one for the new PC-12 NGX. Pilatus has done it again – reimagined aviation and taken an already perfect aircraft and magically redefined perfection.”
The first US customer of the new PC-12 NGX is Shon Boney, Co-Founder of Sprouts Farmers Markets, an American supermarket chain. The new PC-12 NGX will actually be Shon Boney’s fourth PC-12.
João Carlos Marinho Lutz will be the first Brazilian customer to take delivery of the new PC-12 NGX. Currently flying a non-pressurised turboprop, he chose the new Pilatus aircraft, because “only the PC-12 NGX can reach farms in remote places where I need to go and amazing destinations in Brazil with comfort, speed and efficiency.”
The new PC-12 NGX is already certified
The PC-12 NGX features a completely new BMW Designworks interior, larger cabin windows inspired by the PC-24 and fully reclining executive seats. The new Pratt & Whitney Canada PT6 E-SeriesTM engine comes with the Electronic Propeller and Engine Control. A fully integrated digital autothrottle and new avionics features by Honeywell, including a touch screen controller, emergency descent mode, tactile roll feedback and protection, and a low speed propeller quiet mode are just some of the features of the new cockpit environment.
The PC-12 NGX prototype first flew in December 2017. More than 600 hours of testing and certification flying were accumulated in Europe, USA and Canada as Pilatus quietly developed the new aircraft. The PC-12 NGX received certification just one week ago on Monday, 14 October 2019.
Pilatus will begin customer deliveries of the new PC-12 NGX early in the second quarter of 2020. The first production PC-12 NGX with serial number 2001 is present on the static display of Pilatus throughout the NBAA-BACE. Contact Pilatus or your nearest Authorised Pilatus Centre for aircraft availability.
Las Vegas, Nevada, October 21, 2019 – Embraer announced today a purchase agreement with Flexjet, a global leader in private jet travel. The deal comprises a fleet of Embraer business jets, which includes the recently certified Praetor jets and the Phenom 300. The announcement was made during a press conference at the 2019 National Business Aviation Association’s Business Aviation Convention and Exhibition (NBAA-BACE), which is being held through October 24, in Las Vegas, Nevada.
Valued at up to USD 1.4 billion, at current list prices, this deal was included in the 2019 second quarter backlog, with deliveries starting in the fourth quarter of 2019. With this purchase agreement, Flexjet becomes Embraer’s Praetor Fleet Launch Customer.
“We are very grateful for Flexjet’s renewed commitment to Embraer through this new agreement, which reflects the growth and the strength of our partnership over the past 16 years and symbolizes our ongoing support for their journey ahead,” said Michael Amalfitano, President & CEO, Embraer Executive Jets. “Flexjet Owners will appreciate and enjoy a truly elevated customer experience in industry-leading aircraft, including the recently certified Praetor jets, which are different by design and disruptive by choice.”
The partnership between Embraer and Flexjet dates back to 2003, when Flight Options, which merged with Flexjet in 2015, became the first fractional ownership program to introduce the Legacy Executive jet into its fleet. Offering customers a large cabin experience at super-midsize economics allowed Flight Options to serve more customers even better than before, while also supporting the company’s growth via Embraer’s high utilization, reliable aircraft design.
“We are proud to introduce the Praetor jets to the fractional marketplace and make technologically advanced midsize and super-midsize aircraft available to Flexjet Owners,” said Michael Silvestro, Flexjet CEO. “This order also represents the longstanding trust we have in Embraer and in their enhanced commitment to support the growth of our programs and of our partnership with industry-leading business jets.”
Flight Options introduced the Phenom 300 into its fractional program in 2010, receiving Embraer’s 100th milestone Phenom 300 in 2012, the first year in which the aircraft became the best-selling light jet. For the seventh consecutive year, the Phenom 300 has been the most delivered light business jet, according to GAMA (General Aviation Manufacturers Association). Also according to GAMA data, the Phenom 300 was the only business jet to reach the mark of 500 deliveries in the last decade.
Flexjet became the first fractional provider to offer the Legacy 500, in September 2015. In fact, Flexjet took delivery of Embraer’s 1,000th executive jet, a Legacy 500, in April 2016. The Legacy 450 joined the Legacy 500 in Flexjet’s Red Label fleet in August of that year, and both models became the first fly-by-wire Flexjet aircraft, offering performance and capabilities of larger aircraft with midsize economics.
The two ultra long-range and exclusive jets are valued at $564 million according to list pricesBoeing Business Jets now has 16 orders for the 787 variant, making it one of the world’s most popular widebody business jets
Las Vegas, Nevada, October 22,2019 — A VIP customer was behind the purchase of two ultra-long range 787-9 Dreamliner airplanes, Boeing [NYSE: BA] announced today at the National Business Aviation Association’s annual convention.
The order, placed in August, has a list price value of $564 million. The VIP customer has requested to be unidentified.
The BBJ 787-9, a business jet version of the technologically-advanced 787-9 Dreamliner, is sought after by customers who place a premium on the jet’s globe-spanning range, spacious cabin and unrivaled passenger comfort. The airplane can fly 9,485 nautical miles while offering amenities such as larger windows, a lower cabin altitude, smooth ride technology, cleaner and higher humidity air, and a quieter cabin.
“The BBJ 787-9 offers our most discerning customers the ability to travel in ultimate comfort and fly directly to just about any city on earth. We’re talking about London to Sydney or Tokyo to Cape Town. Our newest BBJ 787-9 customer can clearly see the possibilities and more,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing for The Boeing Company. “With a total of 16 orders to date, the BBJ 787 program has won over other government and private customers who want to work, rest, and arrive refresh and ready for a productive day.”
The BBJ 787-9 offers one of the most spacious cabins in the industry with 2,775 ft2 (257.8 m2) of space. The spacious cabin provides a large canvas for a range of interior design options to ensure ultimate comfort on those short or long-distance flights.
The BBJ 787 builds on the success of the 787 Dreamliner – the fastest-selling widebody airplane in history with more than 1450 orders from over 80 customers on six continents.
– 28th annual Global Business Aviation Outlook projects 2020 deliveries to be higher than 2019 as new models enter service
– Five-year purchase plans for new business jets down slightly, but plans to buy used jets grow significantly
– Long-range forecast predicts healthy market with steady annual growth
LAS VEGAS, Oct. 20, 2019 /PRNewswire/ — The business jet industry is expected to see strong growth in the short to medium term, supported by several new airplane models coming to the market, according to Honeywell’s (HON) 28th annual Global Business Aviation Outlook. Released today, the Global Business Aviation Outlook forecasts up to 7,600 new business jet deliveries worth $248 billion from 2020 to 2029, down 1 to 2 percentage points from the 2018 10-year forecast.
“Production ramp up on many new business jet platforms are expected to lead to a 7% increase in deliveries in 2020, following a strong projected growth in 2019 over 2018 aircraft deliveries,” said Heath Patrick, president, Americas Aftermarket, Honeywell Aerospace. “We are confident that these new and innovative aircraft models will support solid growth in the short term and have a continuing impact on new business jet purchases in the midterm and long term.”
Key findings in the 2019 Honeywell global outlook include:
Operators plan to make new jet purchases equivalent to about 17% of their fleets over the next five years as replacements or additions to their current fleet, a decrease of 3 percentage points compared with 2018 survey results.
Of the total purchase plans for new business jets over the next 5 years, 35% are expected to occur in the first two years of the survey, with 57% of purchase plans realized by year three. This is 5 percentage points higher than last year’s survey.
Operators continue to focus on larger-cabin aircraft classes, from large cabin through ultralong-range aircraft, which are expected to account for more than 71% of all expenditures of new business jets in the next five years.
(Bloomberg) — MGM Resorts International, pressured by investors to unload its remaining company-owned casinos, agreed to sell the Bellagio resort in Las Vegas to Blackstone Group for $4.25 billion and will continue to operate the property under a lease arrangement.
The Las Vegas-based casino company also agreed to sell the Circus Circus property on the Strip, along with 47 adjoining acres, to real estate mogul Phil Ruffin for $825 million, according to a statement Tuesday.
With the sales, MGM Resorts moves a step closer to becoming a landless casino company, marking a new era for the largest operator of casinos on the Las Vegas Strip. When all of its deals close, the company will have just two wholly owned properties, including the flagship MGM Grand, remaining under its ownership. The company is keeping a 5% stake in the Blackstone-led venture that’s buying Bellagio.
“The casino industry is evolving and we figured the best use of our intellectual capital was to focus on sports, live entertainment and reduce leverage,” Jim Murren, MGM’s chairman and chief executive officer, said in an interview. “It’s very historic for a variety of reasons.”
MGM has been restructuring under pressure from activist investors. The company has cut and reorganized management, and previously sold all but four of its wholly owned casinos to MGM Growth Properties Inc., a real estate investment trust it created three years ago. The REIT has an option to buy the MGM Springfield in Massachusetts.
The price for Bellagio represents 17.3 times the initial annual rent of $245 million, MGM said. Bloomberg News previously reported Blackstone was in talks to buy and lease back the Bellagio and MGM Grand. The property is being purchased by the Blackstone Real Estate Investment Trust.
MGM will use the proceeds to bolster its balance sheet and return capital to shareholders. Murren said the transactions will help the company target new growth opportunities, including one of the new integrated resource licenses in Japan and sports betting in the U.S. MGM has no plans to develop any more casinos in Las Vegas, he said.
Earlier Deals
Ruffin, a real estate mogul raised in Wichita, Kansas, will pay $662.5 million in cash for Circus Circus. The $162.5 million balance will be in a note that’s due in 2024. The parties expected to deal to close in the fourth quarter. The resort has 2,300 employees and includes a 20-acre RV park and 37-acre festival grounds.
Ruffin bought the Treasure Island casino from MGM for $746 million in 2009. The company then was trying to raise cash following the financial crisis and complete construction of its CityCenter project.
He fixed up Treasure Island, once known for its daily pirate battles outside, adding a western-themed barbecue restaurant and other amenities aimed at Middle American guests. Earlier, he partnered with Donald Trump on the Trump International Hotel, a non-casino hotel and condo development on the Strip.
Circus Circus, now more than 50 years old, was once a flagship property of publicly traded Circus Circus Enterprises. MGM ultimately acquired that company. The resort itself is located at the less-trafficked north end of the Strip.
The sale of Bellagio will provide a benchmark value to attract bidders for MGM’s remaining real estate interests, Murren said, including the CityCenter properties that are co-owned with Dubai World, and the flagship MGM Grand.
Murren also said he wasn’t concerned that Penn National Gaming Corp., another casino operator that had moved to a similar asset-light strategy, trades at a lower multiple of earnings than other casino companies. He said MGM’s assets make it unique.
MGM Resorts enlisted Weil, Gotshal & Manges as its legal counsel, while PJT Partners and JPMorgan Chase & Co. served as financial advisers. Blackstone’s REIT used Citigroup Inc. and Morgan Stanley as its financial advisers. Simpson Thacher & Bartlett LLP, meanwhile, was its legal counsel.
Story by Christopher Palmeri,Bloomberg•October 15, 2019
Visitors are invited to stretch out in the category’s longest cabin, featuring an Executive Suite that puts comfort and productivity at the forefront
TheLearjet 75 Liberty offers a larger cabin and superior performance while being certified to a higher safety standard – all for the same price as its competitors
More operators than ever have the freedom to fly in a Learjet thanks to an exceptional price point and advantageous operating costs, with special launch offers available at 2019 NBAA-BACE
Bombardier is happy to announce that it will showcase the newest member of the Learjet family, the Learjet 75 Liberty, with a full-size interior mock-up at the 2019 National Business Aviation Association Convention & Exhibition (NBAA-BACE) in Las Vegas, Nevada.
“This mock-up will truly show light jet customers just how spacious and comfortable our newest Learjet is,” said Peter Likoray, Senior Vice President, Worldwide Sales and Marketing, Bombardier Business Aircraft. “The Learjet 75 Liberty offers a larger cabin and superior performance for the same price as competitors, and it’s certified to a higher safety standard.”
The full-size interior of the Learjet 75 Liberty at Bombardier’s static display at NBAA-BACE will give visitors a unique opportunity to experience the features that set this light jet apart. Customers attending NBAA-BACE will also be eligible for promotional launch offers on the Learjet 75 Liberty.
The Learjet 75 Liberty debuts the segment’s first Executive Suite, a spacious area at the front of the cabin with two forward-facing seats and an unprecedented three feet (0.91 metres) of legroom for the light jet category. Passengers can stretch out on oversized ottomans that are easily stowable, and open up their laptops on large, retractable side tables. Located behind a standard forward pocket door, the Executive Suite is a quiet haven for busy executives.
Visitors to the Learjet 75 Liberty mock-up can also experience class-leading legroom in the Club Suite, with a four-seat configuration, large side tables and plenty of storage.
The latest member of the iconic Learjet family was unveiled earlier this summer and is generating strong interest on the market. It is expected to enter service in 2020.
The Learjet 75 Liberty is the fastest aircraft in the light jet segment with a top speed of Mach 0.81. Its range of 2,080 nautical miles can connect Las Vegas to New York, Seattle to Washington, D.C., and Mexico City to San Francisco, nonstop.* This superior performance comes at the same operating costs as competitor aircraft that offer less.
The Learjet 75 Liberty is certified to the highest safety standards applicable to commercial airliners, unlike most competitors in the light jet category that are certified to less stringent safety standards. Learjet aircraft offer impressive handling characteristics and outstanding performance. The Learjet 75 Liberty features the advanced Bombardier Vision flight deck, and includes the recently announced Garmin G5000 avionics upgrade.
Bombardier is proud to be participating at NBAA-BACE, where it will also showcase its flagship Global 7500 aircraft, the newly-certified Global 6500 aircraft, as well as the class-leading Challenger 350 and Challenger 650 aircraft.
