Category: Transportation News (Page 13 of 234)

Southwest Airlines pilots to vote on new five-year agreement

December 20, 2023 / WIL BALDWIN

Dallas, Texas, December 20, 2023 – Southwest Airlines Co. (NYSE: LUV) announced today that a Tentative Agreement has been reached with the Southwest Airlines Pilots Association (SWAPA) and will be voted on by the airline’s nearly 11,000 Pilots.

SWAPA will communicate details of the contract and the voting process to Pilots.

Southwest® began accruing for market wage rates for all open labor contracts April 1, 2022. The Company’s fourth quarter 2023 guidance range for operating expenses per available seat mile, excluding fuel and oil expense, profitsharing, and special items (CASM-X), including those associated with this Tentative Agreement, remains unchanged at down 16 percent to 19 percent year-over-year. The CASM-X guidance range is inclusive of market wage rate accruals for this, and all open labor contracts, related to the fourth quarter 2023 time period.

Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to (i) the Company’s financial outlook, plans, expectations, and projected results of operations and (ii) labor matters. These forward-looking statements are based on the Company’s current estimates, intentions, beliefs, expectations, goals, strategies, and projections for the future and are not guarantees of future performance. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) the impact of fears or actual outbreaks of diseases, extreme or severe weather and natural disasters, actions of competitors, fuel prices, consumer perception, economic conditions, banking conditions, fears or actual acts of terrorism or war, sociodemographic trends, and other factors beyond the Company’s control, on consumer behavior and the Company’s results of operations and business decisions, plans, strategies, and results; (ii) the Company’s ability to timely and effectively implement, transition, and maintain the necessary information technology systems and infrastructure to support its operations and initiatives; (iii) the emergence of additional costs or effects associated with the cancelled flights in December 2022, including litigation, government investigation and actions, and internal actions; (iv) the Company’s dependence on its workforce, including its ability to employ and retain sufficient numbers of qualified Employees to effectively and efficiently maintain its operations; (v) the Company’s ability to obtain and maintain adequate infrastructure and equipment to support its operations and initiatives; (vi) the Company’s dependence on third parties, in particular with respect to its technology plans, its plans and expectations related to operational reliability, fuel supply, and maintenance, and the impact on the Company’s operations and results of operations of any third party delays or non-performance; (vii) the impact of labor matters on the Company’s business decisions, plans, strategies, and results; (viii) the impact of governmental regulations and other governmental actions on the Company’s business plans, results, and operations; and (ix) other factors, as described in the Company’s filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10- K for the fiscal year ended December 31, 2022. Caution should be taken not to place undue reliance on the Company’s forward-looking statements, which represent the Company’s views only as of the date of this news release. The Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Maersk launches new weekly service to the Port of Rades, Tunisia

December 20, 2023 / WIL BALDWIN

Port of Rades, Tunis, 20 December 2023 – AP Moeller – Maersk A/S (Copenhagen: MAERSKb) is proud to announce a new transport solution connecting the growing Tunisian market to its mainliner services to and from Europe, Middle East and Asia. The new weekly service started recently and is operated with a dedicated ro-ro vessel between the Port of Rades and the connecting hub port of Cagliari in Italy. Furthermore, the weekly service offers the best connection between Morocco and Tunisia.

The ro-ro vessel is leaving the port of Tunis Rade, Tunisia every Friday evening, calling the Cagliari, Italy on Saturday and connecting with our hub port in Tangier, Morocco on Thursday.

To ensure seamless and reliable logistics in Tunisia, Maersk has established a wide range of value adding services for customers including the availability of a bounded warehouse, airfreight, less than container load cargo (LCL) as well as supply chain and 4PL solutions. Other integrated logistics services enhancing customer satisfaction include customs service, inland transportation, insurance, depot services and cold chain logistics.

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.

Embraer doubles service center capacity by expanding maintenance and customer support

December 20, 2023 / WIL BALDWIN

Embraer is expanding with 3 additional MRO facilities in Texas, Ohio, and Florida

Melbourne, Florida, December 20, 2023 – Embraer (NYSE: ERJ) announced today that it is doubling its maintenance service capacity in the United States, to support the continued growth of its executive jets’ customer base through the addition of three Executive Aviation Maintenance, Repair and Overhaul (MRO) facilities in Dallas Love Field, TX, Cleveland, OH, and Sanford, FL.

Embraer will also substantially increase its Mobile Response network by 28 teams, and enlarge its capabilities including access to interior services, paint, and component repairs as part of this expansion. Service at these locations is set to begin in the second quarter of 2024. Embraer currently has three owned U.S.-based service centers dedicated to its executive jet customers located in Mesa, AZ, Melbourne, FL, and Fort Lauderdale, FL. Further, the company has 24 authorized service centers for its executive jets across the USA.

Forward-Looking Statements

Spain orders 16 Airbus C295 for Maritime Patrol and Surveillance

December 20, 2023 / WIL BALDWIN

Getafe, Spain, December 20, 2023 – The Spanish Ministry of Defence has ordered 16 Airbus Group SE (Paris: AIR) C295 aircraft in Maritime Patrol Aircraft (MPA) configuration and Maritime Surveillance Aircraft (MSA) configuration. The contract amounts to €1.695 billion.

These new aircraft will enable the Spanish Air and Space Force and the Spanish Navy to strengthen the national anti-submarine warfare capability as well as increase and enhance its surveillance, reconnaissance and search & rescue units.

The contract also includes training systems (Full Flight Simulator and Mission System Simulator) and an initial logistics support package.

The C295 MPA will conduct the missions performed by the P-3 Orion fleet, which were retired at the end of 2022. It will be equipped to carry out anti-submarine, anti-surface warfare and intelligence, surveillance and reconnaissance missions. Likewise, it will be able to carry armaments such as torpedoes and other types of weapon systems.

Forward-Looking Statements

LATAM orders five additional Boeing 787 aircraft

December 20, 2023 / WIL BALDWIN

LATAM Airlines Group SA (ADR: LTMAY) announces an order for five more Boeing (NYSE: BA) 787 Dreamliners to continue advancing its commitment to be more efficient and sustainable. The purchase ranks the South American airline group as the largest operators of Dreamliners in Latin America.

With this order, together with the already scheduled deliveries of this model in the upcoming years, LATAM group will reach a total of 46 Boeing 787 airplanes. Representing an increase of 20 airplanes of this model compared to the pre-pandemic fleet, this investment reinforces the group’s commitment to have one of the most modern and efficient fleets in South America.

Additionally, LATAM group has decided to equip the next Boeing 787s it receives with GEnx engines by General Electric (NYSE: GE) Aerospace Division, becoming the first airline in South America to have these engines known for their high performance and efficiency.

The GEnx engine family has more than 50 million flight hours since entry into service in 2011 and is the fastest-selling, high-thrust engine in GE history with nearly 3,000 engines in service and on backlog, including spares, according to data from its manufacturer.

Forward-Looking Statements

Lufthansa Group orders another 40 Airbus A220 aircraft

December 19, 2023 / WIL BALDWIN

Toulouse, France, December 19, 2023 – The Deutsche Lufthansa AG (Xetra: LHAG) Supervisory Board decided to place a firm order for an additional 40 Airbus Group SE (Paris: AIR) A220-300s for its short and medium-haul fleet. The A220 has been in service with the Group since 2016, when SWISS put the first aircraft into scheduled service.

With its latest order Lufthansa reinforces its long standing relationship with Airbus. Since the A300 in the 1970’s, Lufthansa Group has operated all members of the Airbus product family, from the A220, A320-Family, A330, A340, A350 and the A380.

Forward-Looking Statements

Finnair acquires six leased aircraft & repays part of pension loan

December 19, 2023 / WIL BALDWIN

Finnair Oyj (Helsinki: FIA1S) executed a rights issue of 570 million euros in November 2023. Thanks to the strengthened balance sheet and cash funds resulting from the rights issue, Finnair has now purchased six previously leased A321 aircraft from BOC Aviation. Finnair will spend in excess of 200 million euros on the transaction, and its positive impact on both profit before taxes and cash flow will be in excess of 20 million euros per year over the next few years.

Finnair has also repaid an additional tranche of 120 million euros of its 600-million-euro pension premium loan in December in addition to the previously planned 100-million-euro instalment. The December instalment, including interest, totals approximately 230 million euros, after which the remaining loan amount is 280 million euros, to be repaid during May 2025 at the latest. The impact of the additional loan repayment of 120 million euros on profit before taxes will be approximately 3 million euros in 2024 in the form of lower net interest costs.

In connection with the rights issue announcement in autumn 2023, Finnair supplemented its financial targets, which were based on the assumption that e.g. the company’s cash to sales ratio would remain at 30 per cent over time. As a result of the aircraft purchases and the loan repayment, Finnair’s cash to sales ratio is close to but still exceeds the target of 30 per cent.

These measures are a part of Finnair’s strategy implementation and support reaching financial targets by the end of 2025. In addition, these measures will contribute to reaching Finnair’s target of reinstating shareholder distributions, based on the 2024 result, starting from spring 2025.

Forward-Looking Statements

Rolls-Royce powers Europe’s first inland ferry

December 19, 2023 / WIL BALDWIN

Rolls-Royce Holdings PLC (London: RR) powers Europe’s first inland ferry using a high-speed mtu Series 4000 gas engine has just gone into operation on Lake Constance, Germany. The ferry, which was recently christened Richmond, will cross Lake Constance eight to nine times a day, carrying up to 700 passengers and 64 cars from Meersburg to Constance and back. It joins a fleet of five other ferries that are all powered by mtu engines.

The Richmond is the first inland ferry in the world to be powered by high-speed, gas-only engines. The two eight-cylinder mtu Series 4000 engines each provide 746 kilowatts of power and operate with less noise and vibration than a diesel engine, while keeping emissions below the current IMO III nitrogen oxide limits, even without exhaust gas aftertreatment.

A multipoint gas injection system ensures dynamic acceleration behaviour while the turbocharging system enables sufficient power reserves throughout the entire speed range for difficult driving manoeuvres.

In the future, the ferry operator hopes to run the ship on bio-liquified natural gas (LNG) and thus be completely climate-neutral.

Click the link to read the full story! – Lake Constance high-speed ferry!

Forward-Looking Statements

easyJet orders additional Airbus A320neo family aircraft

December 19, 2023 / WIL BALDWIN

Toulouse, France, December 19, 2023 – EasyJet PLC (London: EZJ) has confirmed a firm order for an additional157 Airbus Group SE (Paris: AIR) A320neo Family aircraft following shareholder approval. The firm order comprises 56 A320neo and 101 A321neo aircraft, and also includes the upsizing of an existing order for 35 A320neo into the larger A321neo. The agreement is part of easyJet’s fleet renewal and upgauging plan and is also bringing substantial sustainability improvements to its business.

Forward-Looking Statements

Lufthansa Group to buy up to 100 Boeing 737 MAX jets

December 19, 2023 / WIL BALDWIN

Seattle, Washington, December 19, 2023, PRNewswire – Boeing (NYSE: BA) and the Deutsche Lufthansa AG (Xetra: LHAG) today announced a landmark 737 MAX order for up to 100 jets that will see Europe’s largest airline group restore the Boeing 737 family into its fleet. The commitment includes a firm order for 40 737-8 airplanes with 60 options.

Boeing’s ongoing commitment to support the sustainability goals of its airline partners is reflected in the 737 MAX’s efficient design. The 737 MAX reduces CO₂emissions by 20% and has a 50% smaller noise footprint compared to older generation airplanes. 737-8 will help the Lufthansa Group meet those sustainability targets with significant improvements in fuel use, emissions, and community noise impacts, all while reducing costs for the airline.”

Lufthansa launched the Boeing 737 in 1967, taking delivery of the first of 146 737s until its final delivery of a 737-300 in 1995. The airline retired its last 737 in 2016 as it started its group wide fleet modernization program. The Lufthansa Group has placed a series of wide-body orders in recent years to accelerate replacement of older airplanes. Its current backlog include firm orders for 34 787 Dreamliners, seven 777-8 Freighters and 20 777-9 airplanes.

Forward-Looking Statements

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