Tag: agreement (Page 13 of 20)

Embraer Delivers 198 Total Jets in 2019

February 19, 2020 / WIL BALDWIN

Embraer (ERJ) delivered a total of 198 jets in 2019, of which 89 were commercial aircraft and 109 were executive jets (62 light and 47 large), which represents an increase of 9% compared to 2018, when the Company delivered a total of 181 jets. The deliveries were within the outlook ranges for 2019 of 85 to 95 for the commercial aviation market and of 90 to 110 for the business aviation market. In the fourth quarter of 2019, Embraer delivered 81 jets, being 35 commercial aircraft and 46 executive jets (20 light and 26 large). As of December 31, the firm order backlog totaled USD 16.8 billion. See details below:

Deliveries by Segment	4Q19	2019

*Commercial Aviation*	35	89
EMBRAER 175 (E175)	22	67
EMBRAER 190 (E190)	2	5
EMBRAER 195 (E195)	1	3
EMBRAER 190-E2 (E190-E2)	4	7
EMBRAER 195-E2 (E195-E2)	6	7

*Executive Aviation*	46	109
Phenom 100	4	11
Phenom 300	16	51
Light Jets	20	62
Legacy 650	3	5
Legacy 450	10	15
Legacy 500	5	11
Praetor 500	3	3
Praetor 600	5	13
Large Jets	26	47

TOTAL	81	198

In the fourth quarter of 2019, Embraer delivered the first Praetor 500 business jet to Flexjet, a global leader in private jet travel, just over one year after its announcement at the 2018 National Business Aviation Association’s Business Aviation Convention and Exhibition (NBAA-BACE).

Embraer also announced the expansion of its Executive Jets Service Center at Fort Lauderdale-Hollywood International Airport (KFLL), expanding its service capacity through a lease agreement with Jetscape Services for a dedicated hangar. Embraer’s presence in Florida is strategic for its Executive Jets customers throughout the Southern United States, the Caribbean and Central America as well as for those whose travel frequently brings them through South Florida.

In the same period, Embraer delivered the second KC-390 Millennium to the Brazilian Air Force and the contract with the Portuguese Government for a firm order for five KC-390 airlifters was included in Embraer’s backlog in the fourth quarter of 2019.

At the Dubai Air Show, Embraer announced the name and designation of its multi-mission medium aircraft, the Embraer C-390 Millennium. The new designation reflects increased flexibility and value for operators that look for a transport/cargo aircraft to perform airlift and air mobility missions, among others. In addition, Embraer and Boeing announced that the joint venture to promote and develop new markets for the C-390 Millennium multi-mission airlift and air mobility aircraft will be called Boeing Embraer – Defense. The organization will only be operational after the companies’ joint venture receives regulatory approvals and meets closing conditions.

Also during the event in Dubai, Embraer announced two contracts for commercial aircraft: a contract with Air Peace for three additional E195-E2s, confirming purchase rights from the original contract and a firm order for three E190 jets with CIAF Leasing.

Embraer welcomed three new E2 operators. Helvetic Airways, from Switzerland, and Air Kiribati, national airline of the Republic of Kiribati, received its first E190-E2 jets, while Binter, of Spain, received its first E195-E2. Embraer also signed firm orders with SkyWest, for 20 E175 that will be operated by American Airlines, and with Congo Airways for two E175 aircraft, with purchase rights for a further two.

Lessor BBAM Orders 3 Boeing 737-800 Converted Freighters

February 10, 2020 / WIL BALDWIN

SINGAPORE, Feb 11 (Reuters) – Boeing Co said on Tuesday that lessor BBAM had ordered three 737-800 converted freighters to serve the growing e-commerce market and express sectors of the air cargo market.

The planes to be converted will come from BBAM’s existing fleet. “This agreement shows how we can serve our customers by delivering efficient and reliable airplanes and a portfolio of services that extracts value throughout the life of those jets,” said Ihssane Mounir, Boeing’s senior vice president of Commercial Sales and Marketing.

Boeing also said it would inaugurate a 737-800 passenger to freighter conversion line in China this summer.

The new line will be at Guangzhou Aircraft Maintenance Engineering Company Ltd (GAMECO), a joint venture between China Southern Airlines Co Ltd and Hutchison Whampoa.

(Reporting by Jamie Freed; Editing by Himani Sarkar)

United Buys Arizona Flight Academy to Feed Pilot Pipeline

February 5, 2020 / WIL BALDWIN

CHICAGO, Feb 5 (Reuters) – United Airlines Holdings Inc announced on Wednesday an agreement to purchase a flight training academy in Phoenix in a move aimed at bolstering its pilot pipeline as the industry faces a global shortage.

To address a tight U.S. labor market created by years of slow pilot hiring, a wave of pending retirements and new rules that in 2013 increased the number of required training hours, U.S. airlines have been taking steps to attract young aviators.

Chicago-based United, which is looking to hire more than 10,000 pilots by 2029, will be the first major U.S. carrier to run its own academy.

“We think this program will alleviate any shortage we would have had and that’s its purpose,” Curtis Brunjes, United’s managing director of pilot strategy, told reporters.

The school, currently operating as Westwind School of Aeronautics, will be renamed United Aviate Academy in September.

United expects approximately 300 graduates in 2021 and wants to expand capacity to accommodate 500 graduates per year, Brunjes said, noting that the academy is among the airline’s most aggressive steps on pilot hiring since the 1960s.

One area of focus at the school will be training for loss of control incidents, a leading cause of plane disasters, that goes beyond the current U.S. Federal Aviation Administration requirements.

Some of the enrollees will come from Aviate, a recruitment program that United launched last year offering students and pilots from 15 schools and regional carriers a path to a job at the major.

American Airlines Group Inc and Delta Air lines Inc have similar career programs.

United – which plans to design the academy’s curriculum in concert with the Air Line Pilots Association, International – is offering financing options for training and will also launch a scholarship program focused on women and minorities.

It did not disclose financial details of the purchase, with Brunjes saying only that the company paid “more than asset value, but not hugely more.”

The financial benefit down the line will be ensuring that regional carriers, which operate a significant amount of U.S. airlines’ domestic capacity at a lower cost, have enough pilots to fly the routes that United wants to contract.

In recent years, regional carriers have had to double salaries and offer sign-on bonuses to attract pilots to the field, driving up costs.

Boeing Co expects 800,000 new pilots will be needed over the next 20 years to meet growing demand for air travel.

(Reporting by Tracy Rucinski; Editing by Steve Orlofsky)

Brazil’s Gol Shares Jump on American Codeshare Agreement

February 4, 2020 / WIL BALDWIN

SAO PAULO, Feb 4 (Reuters) – Shares in Brazil’s Gol rose as much as 5.5% on Tuesday after the budget airline said it had signed a codeshare agreement with American Airlines.

“When this is approved by Brazilian and U.S. authorities, Gol’s new codeshare will allow its customers to connect to more than 30 destinations in the USA,” Gol said in a statement, adding that American will now offer more U.S.-South American flights than anyone else.

The flights will operate from Gol’s hubs in São Paulo, Rio de Janeiro, Brasilia and Fortaleza, and will be added to current regular flights to Miami and Orlando.

Investors cheered the news, pushing Gol’s shares up as much as 5.5% to 36.25 reais, making it one of the biggest gainers on the Ibovespa. At midday in Sao Paulo trading, Gol shares were up 4.6% and the benchmark index was up 1.5%.

“The partnership will increase the quantity and quality of its flights, offering the more daily flights between South America and the United States than any other partner,” analysts at Guide Investimento said in a client note on Tuesday.

The agreement will make it easier for customers to purchase flights for both airlines using a single reservation. It will also integrate check-in, boarding and baggage checking throughout the trip, and include the air miles program.

(Reporting by Paula Laier Writing by Jamie McGeever Editing by Jonathan Oatis)

Wheels Up and Delta Close Groundbreaking Transaction Combining Delta Private Jets with Wheels Up

January 29, 2020 / WIL BALDWIN

With this expanded private fleet and access to Delta’s global network, Wheels Up is strategically positioned to fulfill every travel need of its now 8,000+ members and customers.

Delta and Wheels Up, the leading brand in private aviation, have closed on a previously announced groundbreaking transaction and partnership agreement.

The closing officially combines Delta Private Jets (DPJ) with Wheels Up, pairing Wheels Up’s membership programs, innovative digital platform and world-class lifestyle experiences with Delta Private Jets’ renowned reliability, safety, service and scale. The combination creates one of the world’s largest owned and managed fleets of nearly 200 private aircraft, ranging from the King Air 350i to large-cabin jets. With this expanded private fleet and access to Delta’s global network, Wheels Up is strategically positioned to fulfill every travel need of its now 8,000+ members and customers.

In the weeks ahead, Wheels Up and Delta will be communicating directly with customers to roll out cross-platform partnership benefits and other program features that cannot be found anywhere else within the private aviation industry.

“Together, Wheels Up and Delta will democratize the industry to make private flying and the private flying lifestyle accessible to significantly more individuals and businesses around the world,” said Wheels Up Founder and CEO Kenny Dichter. “By adding Delta Private Jets and partnering with Delta, our membership platform has evolved to one that can fulfill a vast range of flight needs on a very large scale.”

As part of this transaction Delta’s Chief Operating Officer, Gil West, has joined the Wheels Up Board of Directors.

“This innovative partnership is the latest step in Delta’s efforts to transform travel into a part of the journey to look forward to,” West said. “Bringing together the Delta brand, DPJ’s renowned reliability and scale, and the exceptional experiences that are the hallmark of Wheels Up, is opening up a whole new world of travel options to more travelers than ever before.”

The Wheels Up and Delta Private Jets teams will be working together to ensure a seamless transition for all DPJ employees and customers. DPJ employees will continue to operate out of their current location in Cincinnati.

“We are thrilled to welcome the talented and passionate Delta Private Jets employees into the Wheels Up family and for Gil West to join our Board of Directors.” said Dichter.

Over the next year, Wheels Up and Delta will continue introducing exciting cross-platform benefits and features, all designed to add more value for their members and customers.

Financial terms of the transaction will not be disclosed, and there is no expected impact to Delta’s 2020 financial guidance.

Toyota to Move Tacoma Truck Production to Mexico from U.S.

January 17, 2020 / WIL BALDWIN

WASHINGTON (Reuters) – Toyota Motor Corp <TM> said on Friday it will move production of its mid-size Tacoma pick-up truck from the United States to Mexico as it adjusts production around North America.

The largest Japanese automaker also said it will end production of the Toyota Sequoia in Indiana by 2022 as that facility focuses on mid-size SUV’s and minivans.

Toyota will shift production of the Sequoia in 2022 to Texas and that plant will end production of the Tacoma by late 2021.

Toyota has been building Tacoma trucks at its Baja California plant in Mexico since 2004. Last month, Toyota’s Guanajuato plant began assembly of the Tacoma.

Toyota said its production capacity for the Tacoma in Mexico will be about 266,000 per year. Last year, the automaker sold nearly 249,000 Tacoma pickup trucks in the United States, up 1.3%.

Toyota said the product moves were to “improve the operational speed, competitiveness and transformation at its North American vehicle assembly plants based on platforms and common architectures.”

The new North American trade agreement approved by the U.S. Senate on Thursday ensures that automakers will still be able to build pickup trucks in Mexico without facing new punitive tariffs.

In February, Fiat Chrysler Automobiles NV <FCAU> said it was reversing plans to shift production of heavy-duty trucks from Mexico to Michigan in 2020, freeing a Michigan facility to produce Jeeps.

Toyota said Friday it completed a $1.3 billion modernization investment in its Indiana operations to add 550 jobs. Toyota said there would be no reduction to direct jobs at any of Toyota’s facilities across North America as a result of the vehicle moves.

(Reporting by David Shepardson; Editing by Chris Reese)

New Seattle NHL Franchise Picks Alaska Airlines as a Founding Partner

January 16, 2020 / WIL BALDWIN

3D model of the New Arena at Seattle Center from NHL.com

The new Seattle NHL Franchise has picked Alaska Airlines as one of the professional hockey team’s founding Partners, as well as the official airline of the team, the companies announced today.

Under the sponsorship agreement between the SeaTac-based airline and the National Hockey League expansion team, the new Seattle Center arena’s main door and lobby area will be named the Alaska Airlines Atrium, featuring a giant Alaska sign and colors.

The arena atrium is part of the $950 million venue’s south side, and will serve as the main entrance for the facility.

Caesars Entertainment and VICI Properties Inc. Announce Sale of Harrah’s Reno

January 15, 2020 / WIL BALDWIN

Caesars Entertainment Corporation (NASDAQ:CZR) (“Caesars Entertainment” or “Caesars”) and VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or “VICI”) today announced they have signed an agreement to sell Harrah’s Reno Hotel and Casino (“Harrah’s Reno”) to an affiliate of CAI Investments (the “Buyer”) for $50 million. The proceeds of the transaction shall be split 75% to VICI and 25% to Caesars, while the annual rent payments under the Non-CPLV Master Lease between Caesars and VICI will remain unchanged.

Under the terms of the agreement, Caesars will continue to operate the property upon closing of the transaction pursuant to a short-term lease with the Buyer, which will allow Caesars to cease operations at the property during the second half of 2020. At the end of the term, Caesars will deliver the property to the Buyer to be redeveloped into a non-gaming hotel and mixed-use development.

“We recognize the long legacy of Harrah’s in Reno, where the brand began 82 years ago and our role in the community. We are pleased the Buyer is committed to the community and supports the redevelopment of this wonderful asset. We have worked closely with the Buyer to provide a reasonable closure plan that allows our great staff in Reno ample time to secure their next jobs, including priority consideration for relevant openings at our other properties in Nevada, including Lake Tahoe and Las Vegas,” said Tony Rodio, CEO of Caesars Entertainment.

“The sale of Harrah’s Reno demonstrates our ability to continuously work constructively with our tenants to improve our individual businesses. This disposition will allow VICI to optimize the quality of our real estate portfolio and redeploy the proceeds toward other attractive growth opportunities while maintaining the existing financial terms of the Non-CPLV Master Lease with Caesars,” said John Payne, President and COO of VICI Properties.

“Being originally from the Reno/Sparks community, it is with great pride that we are investing in the Reno area by redeveloping this property,” said Christopher Beavor, CEO of CAI Investments. “CAI is excited to be working with Gryphon Private Wealth Management as capital partners for the project. Kirk Walton and Philip Oleson, Principals of GPWM Opportunity Zone Funds, which will be investing the required capital for the project, believe in the long-term growth potential of Reno.”

The agreement allows for Caesars to retain its guest data and places no restrictions on Caesars’ marketing activities. Reno will continue to be part of the Caesars Rewards network during the term of the short-term lease with Buyer.

The transaction is subject to the closing of the Eldorado/Caesars combination, regulatory approvals and other customary closing conditions.

EmbraerX and Elroy Air Sign Agreement to Collaborate on Unmanned Air Cargo

January 8, 2020 / WIL BALDWIN

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.

American Airlines Reaches Settlement with Boeing for 737 MAX Compensation

January 6, 2020 / WIL BALDWIN

(Reuters) – American Airlines Group Inc <AAL> said on Monday it had reached a confidential agreement with Boeing Co <BA> to address damages the airline incurred in 2019 due to the ongoing grounding of its fleet of Boeing 737 MAX aircraft.

American, the largest U.S. airline, said the compensation will be received over several years. The airline will use more than $30 million of the compensation for the airline’s 2019 employee profit-sharing program.

American said it does not expect any material financial impact of the agreement to be realized in its fourth-quarter 2019 earnings and it will continue talks regarding compensation for damages related to the MAX grounding beyond 2019.

The Association of Professional Flight Attendants, which represents American Airlines’ 28,000 flight attendants, said it welcomed the news about compensation, and was evaluating the details.

Boeing said it does not comment on discussions with airlines.

Boeing’s best-selling 737 MAX has been grounded since two fatal crashes in five months killed 346 people. The company is halting production this month. A number of airlines have struck confidential settlements with Boeing in recent weeks.

(Reporting by David Shepardson, Editing by Rosalba O’Brien)

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