Category: Joint Venture News (Page 7 of 34)

Saab receives order from NATO for RBS 70 Bolide missiles

December 23, 2023 / WIL BALDWIN

SAAB AB ser. B (London: 0GWL) has received an order for RBS 70 Bolide missiles from the NATO Support and Procurement Agency (NSPA). The order value amounts to SEK 350 million and deliveries will take place during 2027.

The RBS 70 system has an installed base in more than 19 countries, with 1,600 RBS 70 systems and more than 18,000 missiles delivered. The Bolide missile is the 3rd generation, all-target, short-range air defence missile from Saab. With the Bolide missile, the RBS 70 system targets a complete threat spectrum: from fixed and rotary wing aircraft, down to small targets such as cruise missiles and UAVs, with a range of more than 9 kilometres and with altitude coverage in excess of 5,000 metres.

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

U.S. Navy awards RTX $80 million advanced electronic warfare contract

December 19, 2023 / WIL BALDWIN

Goleta, California, December 19, 2023, PRNewswire – The United States Navy awarded Raytheon, an RTX (NYSE: RTX) Business, an $80 million contract in a down select to prototype Advanced Electronic Warfare, or ADVEW, for the F/A-18 E/F Super Hornet. This prototype will be considered as a replacement for the existing AN/ALQ-214 integrated defensive electronic countermeasure and AN/ALR-67(V)3 radar warning receiver with a consolidated solution that will deliver superior electronic warfare capabilities to the backbone of the Navy’s carrier air wing.

Raytheon’s Advanced Electronic Warfare offering will provide significant performance upgrades by modernizing existing electronic warfare systems into fewer components and incorporating government-defined open architecture. Development of this new solution will closely align and integrate with other combat-proven, radio frequency sensors and effectors employed by the Super Hornet. ADVEW will ensure F/A-18E/Fs maintain their operational electronic warfare advantage, while significantly improving survivability against advanced, complex threats.

Development and testing of ADVEW will mainly take place in Goleta, California. During the prototype phase, the system will undergo preliminary design review, critical design review, and flight testing over a 36-month period.

Forward-Looking Statements

Eve Air Mobility hosts customer advisory board

December 18, 2023 / WIL BALDWIN

Melbourne, Florida, December 18, 2023 – Eve Air Mobility (NYSE: EVEX) held its Customer Advisory Board meeting last week at its headquarters in Melbourne, Florida. Customers and partners from 12 companies and nearly every continent came together to discuss the aircraft, operations, ecosystem readiness and services and solutions.

Eve’s Customer Advisory Board includes a wide variety of operators including fixed-wing and rotorcraft operators and lessors, all with the objective of co-creating the Urban Air Mobility (UAM) ecosystem. The discussions included optional items and vehicle configuration and passenger cabin experience. In addition, attendees also received a program and product update from Eve´s leadership.

Eve also took the opportunity to highlight its worldwide sales and support network which includes a broad customer support infrastructure. Eve’s customers will also benefit from Embraer’s global service and support network which includes 10 existing services centers and 66 third-party service centers around the world.

Forward-Looking Statements

Turkish Airlines to become largest operator of Rolls-Royce Trent XWB engines

December 15, 2023 / WIL BALDWIN

Rolls-Royce Holdings PLC (LSE: RR, ADR: RYCEY) today announces Turkish Airlines will order 100 Trent XWB-84 engines and 40 Rolls-Royce Trent XWB-97 engines. This will make Turkish Airlines the world’s largest operator of Trent XWB engines.

The Trent XWB-84 powered A350-900’s, Trent XWB-97 powered A350-1000’s and Trent XWB-97 powered A350F will be delivered between 2025 and 2033. The engines health and maintenance will be covered by the Rolls-Royce comprehensive TotalCare service.

This substantial order will complement the airline’s existing fleet, adding to the 40 Rolls-Royce Trent XWB-84 A350-900’s already in service and on order, and 26 Trent 700 powered A330’s.

Forward-Looking Statements

Virgin Atlantic increases capacity to the USA for summer 2024

December 15, 2023 / WIL BALDWIN

Virgin Atlantic is delighted to announce plans to increase capacity to its heartland in the USA, adding frequencies from London Heathrow to both New York JFK and Boston for summer 2024. These new services complement the airline’s recent announcements of increasing Miami services from 11 flights per week to twice daily year-round and a new seasonal summer service from Manchester to Las Vegas.

Next summer, the airline will offer a record number of flights between London and New York, with a seventh daily flight to JFK, and together with Joint Venture partner Delta, will offer ten daily services to the Big Apple, an increase of 11% compared to summer 2023.

In a further boost to its East Coast flying, Virgin Atlantic will also operate a second daily flight to Boston. Complementing Delta’s daily service, Boston will be served with three flights a day.

Customers on both Virgin Atlantic departures will experience flying on the airline’s newest aircraft, the A330-900neo, and A350-1000, increasing the number of Upper and Premium seats by 23%. Upper-Class passengers looking to treat themselves can also benefit from booking the A330-900neo innovative Retreat Suite, which comprises of two spacious exclusive suites at the front of the Upper Class cabin. Elsewhere, passengers travelling with Joint Venture partner Delta will be able to enjoy its new and enhanced Delta One product.*

*There may be occasions that some ad-hoc Boston and New York services are substituted for an alternate aircraft type.

Air Lease delivers first of seven Airbus A321-200neo aircraft to Transavia

December 15, 2023 / WIL BALDWIN

Los Angeles, California, December 15, 2023, Business Wire – Air Lease Corporation (NYSE: AL) announced one new Airbus A321-200neo aircraft delivered to Transavia Airlines, a subsidiary of Air France KLM SA (Paris: AIRF). This aircraft is the first of seven new Airbus A321s confirmed to deliver to Transavia on long-term lease from ALC’s order book with Airbus and the first A321-200neo to join the Dutch carrier’s fleet.

Forward-Looking Statements

Ryanair announces corporate travel agreement with SAP Concur

December 15, 2023 / WIL BALDWIN

Dublin, Ireland, December 15, 2023 – Ryanair Holdings PLC (Dublin: RYA), Europe’s No. 1 airline, has today announced a ground-breaking new agreement with SAP Concur (NYSE: SAP), the world’s leading brand for travel, expense, and invoice management, to integrate Ryanair’s low fares and unrivalled network of over 3,300 daily flights to over 230 destinations across 36 countries directly with Concur Travel, further expanding access to Ryanair’s fares and network for corporate travellers.

This exciting new partnership means that corporate customers can now access Ryanair’s industry leading low fares, network of key city connections across Europe with regular morning and evening flights to ensure convenient low-cost corporate travel conveniently through the market-leading Concur Travel online booking tool as well as a dedicated Concur TripLink booking flow on Ryanair’s website/app.

Corporate customers who book Ryanair flights directly through this state-of-the-art travel solution will benefit from significant efficiencies, including automated expense management and the convenience of their booking details being fed into SAP Concur solutions, reducing any unnecessary admin. Through this agreement, registered users will not have to complete Ryanair’s customer verification making their travel experience even more seamless.

Forward-Looking Statements

Lufthansa Group completes sale and leaseback of twelve aircraft

December 15, 2023 / WIL BALDWIN

Deutsche Lufthansa AG (Xetra: LHAG) has entered into an agreement for a sale and lease back of twelve short-haul aircraft. The transaction reflects the Group’s strategy to finance investments in new aircraft through a mix of cash, Japanese Operating Leases (JOLCO’s) and operating leases. The sale and lease back supports the modernization of the fleet of the Lufthansa Group Airlines. New and modern aircraft lower fuel consumption, reduce emissions, and improve ex fuel unit costs.

The transactions were executed with two counterparties, Clover Aviation Capital and long-term business partner BBAM (Babcock & Brown Aircraft Management), for the sale and lease back of twelve Airbus A320 family aircraft at favorable commercial terms. The aircraft are up to two years old and are currently operated by Lufthansa Airlines, Lufthansa CityLine and Eurowings. The sale generates proceeds of 600 million EUR in the fourth quarter of 2023, with the aircraft leased back for a term of 72 months. The resulting lease obligation is recognized as debt under IFRS 16 and amounts to 200 million EUR.

A book gain of 100 million EUR resulting from the sale will be recognized in EBIT. The book gain will not be included in Adjusted EBIT, with the transaction already included in Lufthansa Group’s financial outlook. This assumes net capex to amount between 2.5 and 3 billion EUR in 2023.

Forward-Looking Statements

Alaska Air adds Porter Airlines as 30th global airline partner

December 13, 2023 / WIL BALDWIN

Alaska Airlines Group Inc (NYSE: ALK) is welcoming a new global airline partner: Porter Airlines, a growing Canadian carrier that begins its inaugural nonstop service between Toronto and both Los Angeles and San Francisco in January. Those flights, along with flights connecting on Alaska across our West Coast network, can be purchased later today at alaskaair.com. Mileage Plan members who buy Porter flights on our website also earn at least 100% of the miles flown and 100% elite-qualifying miles.

Porter’s new routes will link Los Angeles and San Francisco to Canada’s largest city and beyond with connections to destinations across Eastern Canada including Montreal, Ottawa and Halifax. Porter will fly the Embraer E195-E2 aircraft between California and Toronto, which is known for its quieter flying and greater fuel efficiency than previous generation technology.

Porter is Alaska’s 30^th global partner airline. Porter’s daily nonstop service between Los Angeles-Toronto begins on Jan. 16 with the airline’s operations conveniently located alongside Alaska’s gates at Terminal 6 at LAX. Porter’s San Francisco-Toronto service will launch the following week on Jan. 25. Porter is now selling flights with Alaska connections on its website.

Alaska and Porter will continue to strengthen our partnership next year. Coming in 2024, Mileage Plan and VIPorter members will earn miles in their respective loyalty programs no matter where they book their flights. Next year will bring even more benefits with access to mileage redemptions with enhanced availability for both Mileage Plan and VIPorter members on each other’s airline.

Forward-Looking Statements

Newest Nightjet train service now connects Berlin, Brussels and Paris

December 12, 2023 / WIL BALDWIN

Now passengers can enjoy relaxed overnight travel to major European cities while saving on hotel accommodation. Starting today, the night train alliance of DB, ÖBB, NMBS/SNCB and SNCF is offering night train service from Berlin to Brussels and Paris.

The Nightjet (NJ) runs three times a week, on Monday, Wednesday and Friday. The trains return from Paris and Brussels to Berlin on Tuesday, Thursday and Saturday. The first NJ was seen off on its trip from Berlin this evening by the German, Belgian, French and Austrian transport ministers and the CEO’s of the four participating rail companies.

The new service is the latest milestone in a successful partnership between the European railways, which in 2020 had set themselves the goal of establishing environmentally friendly night train connections.

Also new since the December 10, 2023 timetable change is daily service with sleeping cars and seated coaches on the Munich–Vienna–Warsaw line. In December 2022, the partners added the Zurich–Prague night train line and extended the Munich–Venice/Rijeka/Zagreb/Vienna–Budapest night train by adding Stuttgart as a departure and destination station.

By steadily growing its selection of night trains, the alliance is making an important contribution to achieving the EU climate targets agreed in the Green Deal.

Tickets for the night train connections from Berlin to Brussels and Paris are available from EUR 34.90 per person and route for seated coach, from EUR 49.90 for couchette coach, and from EUR 79.90 for sleeping car. Nightjet and EuroNight tickets are available at all DB Travel Centres and agencies, and from bahn.de and the DB Navigator app. For more information on night train offers, visit bahn.de/nighttrain or nightjet.com.

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