Tag: financial (Page 11 of 23)

Austrian Airlines to Add Montreal and New York JFK Flights Starting in May

March 1, 2021 / WIL BALDWIN

Austrian Airlines is expanding its long-haul services in the upcoming summer flight schedule. From May, Austria’s home carrier will once again be flying three times a week to Montreal and New York JFK. As Newark was already in service up to now, the total number of flights to New York will increase to eight connections per week as of May.

“With five destinations in North America and three in Asia, including Tokyo and Bangkok, our long-haul services are back on a slight climb this summer. Unfortunately, we are still a long way from reaching cruising altitude. We hope that a rapid increase in the vaccination rate and a corresponding relaxation of travel restrictions will give us a further boost in the future”, says Austrian Airlines CCO Michael Trestl.

Austrian Airlines was already able to announce an increase in its summer flight schedule last week. From the end of March, various destinations will be resumed, including Barcelona, Dubrovnik and Florence. Hanover will be served by Austrian Airlines again for the first time since 2009. In addition, numerous vacation destinations are back on offer, for example in Greece, Italy and Spain. In the intercontinental route network, Amman, Bangkok, Chicago and Tokyo are back in the flight schedule.

On the Austrian Airlines website, passengers will find information on travel in times of corona, mandatory wearing of masks, country-specific travel regulations or flexible rebooking arrangements. The information is updated on an ongoing basis.

AirAsia Group Welcomes Dr. Stanley Choi as Substantial Shareholder

February 28, 2021 / WIL BALDWIN

AirAsia Group Berhad (Kuala Lumpur: 5099.KL) is pleased to announce that Dr. Stanley Choi Chiu Fai has joined the Group as a substantial shareholder via his wholly-owned entity Positive Boom Ltd. on 18 February 2021. He acquired 167.1 million AirAsia shares in the first tranche of the private placement, raising his shareholding in the group to 332.5 million shares equating to a 8.96% stake.

Dr. Stanley Choi is the Chairman of Head & Shoulders Financial Group, as well as the Chairman and Executive Director of International Entertainment Corporation (IEC), a company listed on the main board of Hong Kong Stock Exchange (1009.HK). He is also the only co-founding member from Hong Kong for YunFeng Capital – a private equity fund started in 2010 by a group of successful entrepreneurs and influential industry leaders, named after its co-founder Jack Ma Yun, founder of Alibaba Group, and David Yu Feng, founder of Target Media.

His previous directorships include his appointment as Executive Director of Target Insurance (Holdings) Limited (stock code: 6161.HK) from 2014 to 2019, Director of ZhongAn Online P&C Insurance Co. Limited (stock code: 6060.HK) from 2013 to 2016 and Executive Director of Media Asia Group Holdings Limited (stock code: 8075.HK) from 2011 to 2015.

The successful businessman possesses more than 20 years of experience in financial services and merger & acquisition transactions, with a particular focus on private equity investment. He was a seed investor of Kidswant, a Chinese-startup that has now become a leading maternity, baby and children’s product retailer in China with a valuation of over USD3 billion.

Dr Stanley Choi, Chairman of Head & Shoulders Financial Group said: “It is my great pleasure and honour to gain a substantial ownership stake in AirAsia Group – the world’s best low cost airline and one of Asia’s biggest known brands that has successfully pivoted into digital business as well. I believe the worst period in the aviation industry’s history has now passed. I am confident that air travel will bounce back and that under Tan Sri Tony’s and Datuk Kamarudin’s leadership, and with vaccines being rolled out across the region and globally, AirAsia has a very bright future ahead. I look forward to working with everyone at AirAsia.”

Datuk Kamarudin Meranun, Executive Chairman of AirAsia Group said: “We are thrilled to welcome Dr Stanley Choi as a strategic shareholder of AirAsia Group, bringing an impressive track record and solid reputation as a business powerhouse to our Group. We are confident that he will add value to our digital business development in China through his vast experience and network with top digital players in the country.

Dr Stanley Choi graduated with a Master’s Degree of Science from the University of Illinois at Urbana Champaign, United States in 1996. In 2013, he obtained a Doctoral Degree of Business Administration from the City University of Hong Kong.

Austrian Airlines sells three Boeing 767s to US company MDI

February 27, 2021 / WIL BALDWIN

Austrian Airlines has found a buyer for the three long-haul aircraft that were up for sale. The Boeing 767-300ER aircraft will go to the U.S. company MonoCoque Diversified Interests. The purchase agreement has already been signed. The parties have agreed not to disclose the purchase price. The first aircraft, registered OE-LAT, will leave Vienna at the beginning of March for Pinal Airpark, Arizona. The aircraft is currently undergoing all the necessary preparations for the handover. The next transfer flight is scheduled for May with the Boeing 767 registered OE-LAX.

“Being able to sell all three Boeing 767’s to one buyer is very gratifying and a big step for our fleet transition”, says Austrian Airlines CEO Alexis von Hoensbroech. “I would like to thank MonoCoque Diversified Interests for the good negotiations and our team for their great commitment.”

“MDI is excited to continue the growth of its passenger and cargo aviation portfolio with the addition of three 767-300ERs”, adds MDI’s manager Mary Alice Keyes. “It has been a pleasure to work with Austrian Airlines, a group with a long history and outstanding pedigree.”

At an average of 28.5 years, the three 767’s sold are among the oldest aircraft in the Austrian Airlines fleet. The remaining three 767’s are between 20 and 22 years of age. After the completed handover, Austrian Airlines will continue to have nine long-haul jets at its disposal, which will connect Austria with destinations around the globe – from the USA to the Far East. In detail, these are six Boeing 777’s with over 300 seats and three Boeing 767’s with over 200 seats.

Until the beginning of 2022, 28 aircraft will leave the fleet of Austria’s home carrier: In addition to the aforementioned three Boeing 767-300ER’s, 18 Dash turboprops and seven Airbus A319 jets will be handed over. Ten turboprops have already left Vienna, with the remaining eight to follow soon. This means that the fleet will consist of around 60 aircraft by the beginning of 2022. As mainly smaller aircraft will be retired, this corresponds to a capacity reduction of around 20 percent.

Mesa Air Group Plans to Lease an Additional 737-400F Cargo Aircraft

February 27, 2021 / WIL BALDWIN

PHOENIX, February, 2021 (GLOBE NEWSWIRE) — Mesa Air Group, Inc. (NASDAQ: MESA) today announced it signed a letter of intent to lease an additional Boeing 737-400F cargo aircraft currently planned to be available in May 2021. The company currently operates two 737-400F aircraft for DHL.

“This 737-400F will be a great addition to the cargo fleet. The investment in a third 737 aircraft demonstrates our focus on cargo operations and our commitment to DHL,” said Brad Rich, Chief Operating Officer. “This aircraft will provide Mesa pilots with additional career advancement opportunities and provide flexibility to better meet the demands of the current cargo environment.”

Air New Zealand Flight NZ993 Carries Samoan Workers to New Zealand

February 27, 2021 / WIL BALDWIN

Yesterday’s flight was the last of five Air New Zealand (NZSE: AIR.NZ) services that have transported more than 700 workers from Apia to Auckland over the past six weeks under the Recognised Seasonal Employer (RSE) programme.

The airline has transported workers on three charter and two commercial services between Samoa and New Zealand to support a sustainable seasonal labour force for orchards and vineyards in Hawke’s Bay, Canterbury and the upper South Island. Once the workers have completed two weeks of managed isolation, they will disperse around New Zealand to support the country’s horticulture and viticulture industries for the next seven months.

Air New Zealand’s Country Manager Samoa Karen Gatt says the airline’s team based at Faleolo Airport in Apia was excited to see so many travellers and their families arriving at the terminal again when the RSE programme kicked off in January.

New Zealand High Commissioner to Samoa, HE Dr Trevor Matheson, has worked closely with the RSE industry and Air New Zealand to enable the workers to travel to New Zealand.

https://www.escape.com.au/destinations/the-essential-guide-to-hawkes-bay-and-napier-new-zealand/news-story/384b46eb67398e716cb6aa6e768ff9d0

Delta and Deloitte to Reduce Carbon Emissions Via Sustainable Fuel Agreement

February 27, 2021 / WIL BALDWIN

Delta Air Lines (NYSE: DAL) and Deloitte have moved one step closer to sustainable business air travel. The sustainable aviation fuel (SAF) agreement they have committed to covers a portion of Deloitte’s business travel needs. Deloitte is one of the first Delta corporate customers to agree to purchase SAF that is arranged through Delta, and is part of the company’s dedication to work with its customers to help meet mutual goals for the improvement of the planet. By using the substitute fuel, the agreement hopes to reduce carbon dioxide emissions by up to 1,000 metric tons per year.

Since announcing a $1 billion commitment to carbon neutrality in March 2020, Delta has remained focused on its efforts to reduce its ecological footprint, and this agreement helps to ensure that the airline meets that commitment. The partnership with Deloitte is the first of what Delta hopes will be many more customers to come.

The sustainable aviation fuel agreement will be provided by Neste, a leading provider of low emission, renewable fuel for aircraft. The SAF is made from sustainably sourced renewable waste and residual materials, and offers a convenient way to help reduce greenhouse gas emissions in the aviation industry. The fuel can reduce an airplanes emissions by up to 80 percent in comparison to fossil jet fuel.

Rolls-Royce Secures UK Funding for Innovative Naval Autonomy Technology

February 26, 2021 / WIL BALDWIN

Rolls-Royce (London: RR.L) has been awarded funding by the UK Ministry of Defence (MOD) to further develop and demonstrate the Artificial Chief Engineer^® technology – an autonomous machinery control system which allows Naval vessels to undertake long endurance missions with less human interaction.

Developed by Rolls-Royce, Artificial Chief Engineer^® is a critical enabler for autonomous missions by acting as the equivalent of the engineering department responsible for the health and the operation of an unmanned vessel’s machinery. Navies intend to increase their use of optionally-manned and unmanned vessels to project power further for less cost by reducing reliance on manpower, allowing higher-risk or longer-endurance missions, and by lowering the procurement and operating costs of future platforms.

The funding to continue the development, has been awarded under the UK MOD’s Defence and Security Accelerator Intelligent Ship Phase Two programme, which is used to de-risk and evaluate technologies and approaches to enhance the armed forces’ technical advantage.

Rapid growth in automation, autonomy, machine learning and artificial intelligence (AI) has prompted the need to investigate how human-machine teaming can effectively take place. This 16-month programme aims to investigate how effective human-AI collaboration can be best exploited to improve decision-making and planning within complex operating environments.

Artificial Chief Engineer is an on-board, secure, decision-making control system designed to intelligently operate the machinery of lean-manned and unmanned naval vessels. The technology makes condition-based decisions about how best to operate the machinery – including the engines, propulsion system, electrical network and fuel system – using algorithms to optimise the ship for maximum efficiency, lowest noise, top speed or to preserve damaged equipment as required by the ship’s mission. This reduces the workload of remote operators and allows increased mission and system complexity in future unmanned ship designs.

Intelligent Ship is a Defence Science and Technology Laboratory (Dstl) project to develop novel and innovative technologies and concepts to facilitate the use of intelligent systems within future platforms, with potential for utilisation across defence. The aim is to de-risk and evaluate technologies and approaches to enable revolutionary future platform, fleet, and cross-domain concepts to enhance UK military advantage.

Wrapping around the Artificial Chief Engineer project will be Rolls-Royce’s Aletheia Framework^TM. This is a ground-breaking standard it has developed to ensure that before artificial intelligence is used all ethical considerations have been fully assessed, and that once an AI is deployed, its decisions are trustworthy. The Aletheia Framework is as part of a campaign led by Rolls-Royce to improve public trust in artificial intelligence so that its full potential can be realized for good across the world.

Airline to Landline: United Offers Travel from Denver International Airport to Breckenridge and Fort Collins

February 26, 2021 / WIL BALDWIN

DENVER, Feb. 26, 2021 /PRNewswire/ — United Airlines (Nasdaq: UAL) announced today that it is making it easier for customers to travel to Breckenridge and Fort Collins, Colorado with convenient year-round ground transportation service connecting through its Denver hub. This is the first time Breckenridge has ever been served by an airline and will be Fort Collins’ first global network carrier service in 25 years.

Beginning March 11, United will start daily service to Breckenridge (QKB) and on April 1, will start four-times daily service to Fort Collins (FNL). The airline is teaming up with Landline – a premium ground transportation company – to offer connecting service to these popular destinations through Denver International Airport (DEN). Customers can book their travel on united.com starting today, selecting Breckenridge or Fort Collins as their destination.

Added Landline co-founder & President Ben Munson, “We have worked closely with the United team to create a stress-free connecting experience in Denver. Customers will love our spacious leather seating, onboard streaming entertainment and free Wi-Fi.”

Customers connecting to Breckenridge or Fort Collins at Denver will transfer to the Landline service from an assigned gate in Concourse A, remaining within the secure airside area of the terminal. Checked-in baggage will be transferred directly from the plane to the bus. Customers originating in Breckenridge or Fort Collins will be required to pass through security on transit in DEN.

Keeping customer wellbeing at the forefront, United and Landline will be implementing a wide variety of cleaning and safety measures as part of the new service, all of which have been reviewed by the Cleveland Clinic. These measures include:

Back-to-front boarding;
Reducing seat capacity on Landline’s service to enable social distancing onboard;
Requiring mandatory use of masks onboard for customers aged two and over;
Electrostatically spraying ahead of each departure and sanitizing high touch areas;
Implementing a UV disinfection air filtration system launched by OEM (Prevost) on all vehicles;
Providing United CleanPlus^SM sanitizing wipes to each customer; and
Requiring customers to complete a ‘Ready to Fly’ checklist at check-in, acknowledging they don’t have symptoms for COVID-19 and agreeing to follow our policies.

In addition, United MileagePlus ® members will be able to accrue Premier qualifying points (PQP) and redeemable miles on services to both destinations.

Denver remains one of United’s fastest growing hubs with daily departures around 80% of 2019 levels – the highest among United hubs. United currently serves more than 160 destinations from Denver and operates more than 360 flights per day – the most comprehensive route network of any carrier in Denver – and offers more flights to more Colorado destinations than any other airline.

For more information on the new service, please visit united.com/landline

Virgin Australia Opens Lounge of the Future

February 26, 2021 / WIL BALDWIN

Virgin Australia has today revealed its Lounge of the future, with the opening of its highly anticipated Adelaide Airport Lounge. Designed by Brisbane’s WMK Architecture, the 283-seat Adelaide Lounge completes Virgin Australia’s network of seven domestic lounges across major airports around Australia. All future Lounge refurbishments around the domestic network will be done in line with this new and fresh design thinking.

The Lounge is true to the Virgin Australia brand, creating a warm, authentic and inviting environment for frequent flyers.

The contemporary design includes a breeze block feature wall upon entry, with canopy ceilings, before ceramic tiling leads guests into a large light-filled space, with the centre walkway leading guests to numerous dining and seating areas. Ambient lighting, bright greenery and Australian sustainable furniture completes the Lounge, making it a relaxed, inviting and uncomplicated place, to refresh and recharge in a delightfully Virgin way.

Virgin Australia CEO Jayne Hrdlicka said the new lounge was the first of many new and exciting products for customers following the airline’s re-launch.

Adelaide Lounge features

The Coffee Bar: An eye-catching central café seating area, transforming from a place to unwind over a coffee during the day, turning into a wine bar at night.

The Cellar Door Hub: With some of Australia’s most awarded wineries on the doorstep of Adelaide Airport, Virgin Australia has created a feature space for South Australian wineries to bring their cellar door to the Lounge for seasonal wine tasting.

Distinct dining areas: Separate dining areas with diverse functionality have been built adjacent to servery areas to cater to all guest’s eating preferences, including large social tables, and banquette seating for more private dining.

JetBlue Receives First Airbus A321neo Aircraft With Reimagined Mint® Layout

February 26, 2021 / WIL BALDWIN

NEW YORK–(BUSINESS WIRE)– JetBlue (NASDAQ:JBLU) today announced it has formally taken delivery of its first Airbus A321neo (new engine option) aircraft configured with the airline’s reimagined premium Mint® experience and an all-new onboard layout, featuring comfort and connectivity perks that set the airline apart from other U.S.carriers. The aircraft is scheduled to arrive at JetBlue’s home at New York’s John F. Kennedy International Airport (JFK) tonight from the Airbus production facility in Hamburg, Germany.

JetBlue’s A321neo with Mint features 16 Mint suites – including two Mint Studios™ – and 144 core seats. It will first operate on select flights between New York-JFK and Los AngelesInternational Airport (LAX) this summer. Today’s delivery – tail N2105J named “NEO Mintality” – brings JetBlue’s total fleet count to 270 aircraft, is the airline’s 16th A321neo and the first of this aircraft type to feature Mint.

Travelers can spot the A321neo with Mint by its unique “Ribbons” tailfin. The design features three blues from the airline’s brand palette and is the first tailfin inspired by so-called “Op Art” – as in optical art – using simple shapes to create the illusion of three dimensions and movement.

All Suites, All the Time

The first major design overhaul of Mint – designed in partnership with Acumen Design Associates – will debut on select flights between New York and Los Angeles this summer.

Click the link below to view the full JetBlue press release!

https://www.businesswire.com/news/home/20210226005628/en/

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