Investment firm Bain Capital Credit will invest an initial $360 million in a joint venture with Atlas Air Worldwide Holdings (NASDAQ: AAWW), a major provider of outsourced all-cargo aircraft operations and other aviation services, to lease freighter aircraft, the companies said Wednesday.
Under the agreement, Atlas’ leasing subsidiary Titan Aviation Holdings Inc. will contribute $40 million of equity towards the portfolio, which ultimately could have a value of $1 billion with additional commitments to acquire aircraft over the next several years. The number and type of planes to be acquired are still to be determined. Titan will identify and source aircraft, as well as provide lease-management services to the venture.
The new company will be called Titan Aircraft Investment, Dan Loh, Atlas’ vice president of investor relations, told FreightWaves. “The parties are working expeditiously to complete and implement all elements of the joint venture,” he said.
Since its inception in 2009, Titan has grown to become the third-largest freighter lessor globally by fleet value with over 30 aircraft and a book value of over $1.5 billion.
Titan provides aircraft to airlines, which put them under their own operating certificate and then fly, maintain and insure them. Contracts are usually long term.
Toulouse, 18 September 2019 – Airbus Defence and Space has released the latest version of OceanFinder, its digital maritime service to detect, identify and track collaborative and non-collaborative vessels around the globe.
First launched in 2018, OceanFinder leverages Airbus’ advanced constellation of optical and radar satellites, combined with real-time global Automatic Identification System (AIS) data, and the latest in automated analytics, to support a broad range of critical applications across defence and security, shipping, oil and gas, and insurance markets.
OceanFinder’s latest updates introduce a number of innovative features – extending the service’s capabilities in several key areas. From today, users will benefit from enhanced imagery and AIS data correlation to identify the precise location of a non-responding vessel in near real-time. This development has been combined with the latest in fully-automated detection and classification, which utilises powerful proprietary algorithms to determine a vessel’s identity in just a few seconds. Subsequently, Airbus’ human analysts are able to focus on providing additional, value-added intelligence, such as interpretation of specific behaviour or threats, without delaying a report’s delivery. New tools have also been incorporated to provide the most relevant acquisition plan to predict routes and projected locations of vessels, based on last position, date, trajectory and speed.
Several of the unique features have been made possible through a multi-year partnership with exactEarth, a leading provider of satellite-AIS data services. The agreement, which provides OceanFinder with access to exactView RT – exactEarth’s second-generation real-time satellite-AIS data platform – includes all live and archived data.
“By combining Airbus’ satellite imagery with the most advanced AIS data services and analytics, we are positioning OceanFinder as a key reference for maritime detection and identification” said François Lombard, Director of the Intelligence Business for Airbus Defence and Space. “Automation and near real-time are the two pillars through which we will provide our customers with the insights they need to make decisions faster, whether for real-time situational awareness, Search and Rescue operations or location and tracking of illegal maritime activities.”
OceanFinder is accessible through the OneAtlas web portal (oneatlas.airbus.com), enabling customers to ‘self-order’ the required products through a simple user interface that is available 24/7.
A new version of Alstom’s Atlas ETCS train control system has entered service on the Wuppertal Suspension Railway (Wuppertaler Schwebebahn), located in western Germany. Following a contract signed with WSW mobil GmbH, Alstom equipped the entire suspended route, including 31 new vehicles and the century-old imperial wagon (Kaiserwagen), with ETCS, the European standard for train control systems.
The entry into service marks the completion of Alstom’s first full train control and signalling contract in Germany. It comprises line-side equipment, such as interlocking, radio block centre (RBC) and necessary line elements via train control systems, as well as an interface to the computer-aided operation control system.
The Wuppertal project represents the very first application of ERTMS Level 3 in which track occupancy is solely realised using train localisation performed by the ETCS equipment onboard the train. Alstom replaced the traditional trackside train detection systems such as axle counters with a digital signalling system whereby the ETCS-equipped vehicles communicate their positions directly to the central computer (or RBC) via radio.
“With the successful implementation of this project, Wuppertal is the first city in Germany to use the European train control system in urban transport. ETCS does not only provide for safer and more efficient train operation, but also serves as a basis for many future technologies,” says Jörg Nikutta, Managing Director of Alstom in Germany and Austria.
Alstom’s ETCS system Atlas was developed in Charleroi (Belgium), while the system components were produced at Alstom’s sites in Villeurbanne (France) and Bologna (Italy). The systems are installed and commissioned in Wuppertal by Alstom staff from Charleroi, Salzgitter and Berlin.
Alstom is market leader for ETCS on-board equipment. Since 2006, Alstom has equipped 8,200 vehicles (3,200 of which are already in operation) and for 18,000 kilometres of line (7,000 in operation) with ETCS equipment. A large part of DB’s ICE fleet has also been running with Alstom’s ETCS technologies on the high-speed line between Berlin and Munich since 2017.
Check out the video about the Wuppertaler Schwebebahn
WASHINGTON (Reuters) – U.S. President Donald Trump met on Thursday with the chief executives of major American airlines to discuss their accusations that subsidies by Qatar and United Arab Emirates are costing jobs in the United States.
The meeting between Trump and the CEOs of American Airlines, United Airlines, JetBlue Airways Corp, FedEx Corp, and Atlas Air included Vice President Mike Pence, the White House said.
The meeting also included the CEO of state-owned Qatar Airways, Akbar al-Baker, who was also at the White House last week to tout its decision in June to buy five new Boeing 777 freighters.
The White House did not immediately provide details of the meeting.
Since 2015 the largest U.S. carriers – Delta Air Lines, American and United Airlines – have argued their Gulf rivals are being unfairly subsidized by their governments, distorting competition and costing U.S. jobs – something the Gulf carriers deny.
The Partnership for Open & Fair Skies, a group representing Delta, American, United and aviation unions, said it had a “productive meeting” with Trump.
“The president shares our concerns and instructed us to keep working with the U.S. Department of Transportation, which we plan to do,” Scott Reed, the group’s managing partner, said in a statement.
The CEOs of JetBlue, FedEx and Atlas Air have warned that restricting the rights of Qatar Airways could lead to retaliation against U.S. carriers and added, in an April letter, it could lead to “a rapid unravelling of hard-fought aviation rights around the world when other governments take similar action to shield their state-owned airlines from competition.”
Last week, the CEOs of Delta, United and American wrote a joint USA Today op-ed urging the White House to act “decisively to hold Qatar and the UAE accountable.” They suggested that failing to respond would “signal to other countries that they too are free to exploit American workers.”
In April, Secretary of State Mike Pompeo said the administration was scrutinizing Qatar Airways’ acquisition of a 49% stake in Air Italy, which has been flying to U.S. destinations since 2018 in a move seen by U.S. lawmakers as flouting a deal not to add new flights to the domestic market.
Both Republicans and Democrats in Congress have said they were concerned that the deal with the Italian carrier contravened an understanding Qatar Airways reached with the United States in early 2018.
Qatar Airways acquired the 49% of Italian airline Meridiana in 2017, rebranded it Air Italy and transformed it into a carrier with five announced nonstop U.S. destinations from Milan.
The Qatari government said in 2018 it was unaware of any plans to launch flights from Qatar to U.S. destinations via stops in Europe known as “Fifth Freedom” flights.
(Reporting by Steve Holland and David Shepardson; Additional reporting by Jeff Mason; editing by Marguerita Choy, Tom Brown and Richard Chang)
(Reuters)
– Two bodies have been recovered from the wreckage of an Amazon Prime
Air cargo plane that nosedived into a bay outside Houston on Saturday,
and a search was ongoing for a third victim, authorities said.
All
three people aboard the Boeing 767 cargo jetliner operated by Atlas Air
Worldwide died in the crash as it approached Houston’s George Bush
Intercontinental Airport, Atlas and Boeing Co said in statements on
Sunday.
Chambers
County Sheriff Brian Hawthorne told a news conference on Sunday that
two bodies had been recovered and the search continued for the third
person as well as the plane’s black boxes.
The
sheriff’s office released a video showing fragments of the aircraft and
cargo littering mudflats after the tide went out in the bay, exposing
more of the crash site.
U.S.
National Transportation Safety Board (NTSB) Chairman Robert Sumwalt
said the agency obtained about five seconds of security video from a
local jail that showed the crash.
“The
aircraft is in the video as it’s descending in a steep descent, a steep
nose down attitude,” Sumwault told the press briefing, adding that
there was no distress call.
Asked
by a reporter if the incident was “anything more than a plane crash,”
Federal Bureau of Investigation Special Agent Perrye Turner said,
“that’s what we have right now.”
The
plane crashed at the north end of Trinity Bay near the small city of
Anahuac, about 20 miles (32 km) southeast of the airport around 12.40
p.m. (1340 EST) after taking off from Miami.
“This
is a sad time for all of us,” Bill Flynn, Atlas Air’s chief executive
officer, said in a statement. “Our team continues to work closely with
the NTSB, the FAA and local authorities on the ground in Houston.”
Atlas Air Worldwide has been operating Boeing 767 freighters on behalf of Amazon following a 2016 deal.
Boeing
said in a statement that it had sent a team to provide technical
assistance to the NTSB as it conducted its investigation.
(Reporting by Andrew Hay in Taos, New Mexico; Editing by Daniel Wallis & Simon Cameron-Moore)
NEW
YORK, Feb 23 (Reuters) – A Boeing 767 cargo jetliner with three people
on board crashed into a bay near Houston’s George Bush Intercontinental
Airport on Saturday, police and officials said.
Atlas
Air Flight 3591 was en route to Houston from Miami when radar and radio
contact with the plane was lost about 30 miles (48 km) southeast of the
airport, the Federal Aviation Administration said in a statement.
The
National Transportation Safety Board (NTSB) will be in charge of the
investigation, the statement said, and FAA investigators were on their
way to the crash site.
The
Chambers County Sheriff’s office said the plane had been located in
Jack’s Pocket, at the north end of Trinity Bay near the small city of
Anahuac, according to a Facebook post by the sheriff’s office.
Ed
Gonzalez, the sheriff of neighboring Harris County, which includes
Houston, said on Twitter his office was sending personnel to help with
the rescue efforts.
Boeing said on Twitter it was aware of reports of an accident involving a 767 in Texas and was gathering more information.
Atlas
Air said there were three people on board the aircraft. “Those people
and their family members are our top priority at this time,” the airline
said in a statement.
The
company, a subsidiary of Atlas Air Worldwide has been operating Boeing
767 freighters on behalf of Amazon following a 2016 deal.
“Our thoughts and prayers are with the flight crew, their families and friends along with the entire team at Atlas Air during this terrible tragedy,” Dave Clark, senior vice president of worldwide operations at Amazon, said in a statement.
(Reporting by Maria Caspani in New York Editing by Paul Simao)
PURCHASE, N.Y., Nov. 01, 2018 (GLOBE NEWSWIRE) — Atlas Air Worldwide Holdings, Inc. (AAWW) today announced strong third-quarter earnings growth and raised its outlook for full-year 2018, driven by ongoing market strength, customer demand and business development.
“We continue to leverage the scale and scope of our enterprise and our leadership in global aviation outsourcing,” said President and Chief Executive Officer William J. Flynn.
An Atlas Air Boeing 767-300ER (N641GT) was substantially damaged in a hard landing at Portsmouth, New Hampshire on July 27, 2018. The landing was completed safely and the aircraft taxied to the gate for normal passenger disembarkation. There were no reported injuries to passengers or crew; however photographs show a circumferential crease extending from the crown of the aircraft’s forward fuselage round to below the window line. The accident happened in darkness (0452L) but in VMC. The aircraft was operating a military charter flight from the Middle East via Frankfurt – Hahn, Germany.
A funny thing happened to an older generation of Boeing Co. 747 jumbo jets on their way to dusty oblivion in desert parking lots.
Instead of being scrapped, the humpbacked planes are back in demand as workhorses of global shipping. Booming trade is stoking the need for big, long-range jets to haul time-sensitive goods, from Apple Inc. iPhones made in China to fresh flowers grown in Latin America.
Boeing is boosting production of its Everett-made 767 mid-sized jet due to demand from cargo companies and the military, CEO Dennis Muilenburg said Wednesday.
“Today, 767 Freighters are the best they have ever been, and demand continues to grow,” Muilenburg said. “The growth of the e-commerce market is fueling some of that.”
