Tag: conditions (Page 2 of 4)

Icelandair Flies to Antarctica and Back

March 3, 2021 / WIL BALDWIN

Last week, an Icelandair (Iceland: ICEAIR.IC) Boeing 767 (TF-ISN), landed at Troll airfield (QAT) at the Troll research station operated by the Norwegian Polar Institute in Dronning Maud Land, Antarctica. The flight was operated by Loftleiðir (Icelandair’s charter-flight subsidiary) to offload provisions for the research station’s staff who will remain at Troll this winter, and to pick up scientists returning to Norway after their summer service. Some of the scientists had been at Troll for 16 months and were happy to be heading home.

The flight

The journey involved a lot of planning due to the unique conditions, and involved 6 pilots, 13 crew and 1 flight engineer.

From Keflavík airport in Iceland, the plane flew nonstop to Cape Town, South Africa, where it paused for a rest and refueling stop. Some of the team stayed in Cape Town and the remainder flew 4,332km south to Troll in 5 hours and 43 minutes.

After a 2-hour layover at Troll, the aircraft returned with the Norwegian passengers to Cape Town, picked up the fresh crew, and continued on to Oslo, then home to Iceland.

According to flight commander August Hakansson, landing conditions at Troll were far better than forecast. And the worst weather of the entire trip was upon the return to Keflavík!

The flight route was so unusual that it attracted worldwide attention from aviation fans and media, including over 30,000 followers on Flightradar. And although it might seem crazy, this isn’t Icelandair’s first time in the Deep South – back in 2015, Icelandair became the first commercial airline to land a plane on a blue-ice runway in Antarctica.

Click the link below to read the full story!

https://www.icelandair.com/blog/icelandair-flies-to-antarctica/

Delta and LATAM Receive Final Approval in Brazil for Joint Venture Agreement

February 25, 2021 / WIL BALDWIN

Delta Air Lines (NYSE: DAL) and LATAM (Santiago: LTM.SN) have received final approval, without conditions, of their commercial agreement (“trans-American Joint Venture agreement” or “JVA”) by the Brazilian competition authority – the Administrative Council for Economic Defense – after initial approval was granted in September 2020. The JVA seeks to enhance the route networks served by both airlines, delivering a seamless travel experience between North and South America. The Delta-LATAM agreement has also been approved in Uruguay while the application process continues in other countries, including Chile.

“This final approval in Brazil furthers our mission to provide customers in this important market with the world-class travel experience and options they deserve,” said Delta CEO Ed Bastian. “Moving forward, we will continue working with LATAM to unlock more benefits for our customers and create the premier airline alliance of the Americas.”

LATAM Airlines Group CEO Roberto Alvo added, “This ruling reinforces the benefits of this type of agreement for travelers and enables us to advance in our commitment to delivering greater and better connectivity between South America and the world.”

The ratification by the Brazilian authority supports the work of both airlines to deliver a broader and more competitive network of benefits for their customers that will include, among others:

Code-share agreements between Delta and certain subsidiaries of the LATAM group, which allow the purchase of tickets to a larger network of destinations.
Members of the Delta SkyMiles and LATAM Pass programs can redeem points / miles on both airlines, accessing more than 435 destinations around the world.
Shared terminals and faster connections at Terminal 4 of New York’s John F. Kennedy International Airport (JFK) and at Terminal 3 of São Paulo’s Guarulhos Airport.
Reciprocal lounge access: Customers can access 35 Delta Sky Club lounges in the United States and five LATAM VIP lounges in South America.

Lufthansa Innovation Hub Spins-Off Startup RYDES

February 11, 2021 / WIL BALDWIN

The Lufthansa Innovation Hub, the central digitalization unit of the Lufthansa Group, spins-off the startup RYDES. Forward31, the company builder of Porsche Digital, is contributing with its expertise and resources to the venture. Both Porsche and the Lufthansa Group are now strategic minority shareholders in the startup.

“The spin-off and subsequent funding from RYDES has been a great success. Once again, we are proving that startups from corporate digital units can adapt to market conditions. With Forward31, Porsche’s company builder, we have gained an important strategic partner that shares and further enhances our vision of a seamless mobility chain,” says Gleb Tritus, Managing Director Lufthansa Innovation Hub.

“The Lufthansa Innovation Hub is an authority on the development of new business models. Together with such a strong partner and the founding team, we look forward to continuing the successful development of RYDES in the future,” says Christian Knörle, Head of Company Building at Porsche Digital.

The aim of RYDES is to redefine and simplify access to modern mobility. For this purpose, the startup bundles existing mobility offers in one app and makes them accessible via the “Mobility Budget”. The new product allows companies to provide their employees with a monthly budget that they can use for various mobility services. These include car and bike sharing services, e-scooters, shared taxis, and public transport services. The different mobility providers are integrated into the RYDES app and users can use the app to book their trips and manage their budget. All journeys booked through RYDES are offset via the “Compensaid” platform and therefore CO₂ neutral.

One-stop shop for mobility as B2B offer

RYDES focuses on companies that want to offer mobility to their employees as an additional benefit. In this way, RYDES is also meeting the demand for mobility services that is emerging in the context of “new work” and the trend towards flexible and decentralized employment. RYDES’ first customer is the flex-office provider WeWork. Companies and freelancers who have a membership with WeWork can use the RYDES offer. WeWork will make the offer available as soon as possible under the relevant Corona guidelines.

The “Mobility Budget” will initially be available in German-speaking countries. In order to drive further growth as well as the startup’s internationalization, Martin Miodownik is expanding the founding team. Martin Miodownik’s who was employee number one at GetYourGuide later assumed the role of VP Global Sales. In this position, he was responsible for the global expansion of the Berlin-based unicorn.

RYDES was founded in 2018 as part of the Lufthansa Innovation Hub. The company’s initial business idea focused on developing a loyalty program that rewards people for using different mobility services. With the ‘Mobility Budget’, RYDES now goes one step further and combines the booking of services in one app, making travel much more convenient.

Qantas Group Targets Domestic Growth with Alliance Airlines Capacity Deal

February 3, 2021 / WIL BALDWIN

A new deal with Alliance Airlines will help the Qantas Group meet an expected surge in local tourism demand once the country moves beyond sudden COVID-related border closures. Alliance will provide the QantasLink network with flexible capacity using its recently acquired Embraer E190 aircraft – a 94 seat jet with a five hour range that is well suited to linking regional centres with smaller capital cities.

Initial routes that Alliance will fly are expected to include Adelaide–Alice Springs, Darwin–Alice Springs and Darwin–Adelaide. Passengers can expect an increase in frequency made possible by the size, range and economics of the E190 compared to the Boeing 737’s that are currently used on these routes; the 737’s will be redeployed elsewhere in Australia as part an ongoing ‘right aircraft, right route’ approach to the Group’s network.

Qantas has signed a three year deal with Alliance to access three E190’s based in Darwin and Adelaide. The timing will depend on the rate of recovery in travel demand but is currently expected to start in June 2021, once the vast majority of the Qantas Domestic flying has returned to pre-COVID levels.

The agreement also provides flexibility to access an additional 11 (for a total of 14) E190 regional jets, but also to switch off some (or all) of this capacity, depending on market conditions.

CEO of QantasLink, John Gissing, said the deal reflected the kind of flexibility needed to respond to opportunities without committing any capital.

The E190 offers 10 seats in Business Class and 84 seats in Economy, with a range of about 4,500 kilometres.

Qantas owns just under 20 per cent of Alliance Airlines.

Air Saint-Pierre Takes Delivery of a New ATR 42-600

December 22, 2020 / WIL BALDWIN

Air Saint-Pierre has taken delivery of its new ATR 42-600 aircraft, following the signature of a Memorandum of Understanding in July 2018. Based on one of the three main islands of Saint Pierre and Miquelon (around 6,300 inhabitants), Air Saint-Pierre is essential to the archipelago’s economy, as it flies both passengers and goods to Miquelon, St. John’s, the Magdalen Islands, Halifax and Montreal. The new aircraft will replace the airline’s existing ATR 42-500 which has been in operation since 2009.

In addition to benefitting from unbeatable environmental performance and economics, the ATR 600’s proven ability to operate effectively in windy conditions is vital for Air Saint-Pierre. The -600 series can take-off and land in cross wind conditions of 45 knots, a unique capability which enables the airline to offer reliable air services to its communities. Air Saint-Pierre’s passengers will also enjoy the modernity and comfort of the Armonia cabin, whilst the airline’s pilots will appreciate the state-of the-art avionics suite, resulting in a smoother flying experience for all.

Benoît Olano, Chief Executive Officer of Air Saint-Pierre, said: “We are looking forward to starting operations with our new ATR aircraft. We have been flying ATR since 1994, starting with an ATR 42 320, and the turboprop’s unique capabilities and continuous improvement have made it the ideal aircraft for our operations over the years. We will continue to provide to the people of Saint-Pierre and Miquelon the connectivity they need, along with greater comfort, whilst limiting our impact on the environment.”

ATR Chief Executive Officer, Stefano Bortoli added: “There is nothing more satisfying than seeing a loyal customer upgrade its fleet. Delivering regional connectivity in the challenging operational conditions of Saint Pierre and Miquelon and its neighbouring islands takes a special aircraft and the ATR 42-600 is the perfect fit. The airline’s operations are vital for the archipelago’s communities and we are truly glad to see our aircraft once again accomplish what they have been designed for: to connect people and places responsibly, no matter how remote.”

Leading the Way for the Future of EGNOS

December 11, 2020 / WIL BALDWIN

Airbus-led consortiums have recently won a series of contracts to shape the future of EGNOS, the European Geostationary Navigation Overlay Service. EGNOS enhances Galileo and GPS signals to provide augmented safety of life services.

EGNOS V3, set to replace the current version, is already being developed by a consortium of 20 European companies led by Airbus. It will enable ‘Category I’ automatic landing of aircraft – with the flight crew supervising – in weather conditions where it would otherwise be dangerous or impossible to operate.

To prepare EGNOS V3 Evolutions, the European Space Agency (ESA) has awarded a new study contract to Airbus. The focus is on the use of the augmentation service for stringent operations like Category II approach and landing under very low visibility conditions going beyond the current EGNOS V3 performance requirements.

Preceding this, Airbus has been conducting an innovative study under the ESA NAVISP Programme to assess the potential of sensor fusion techniques, for aviation applications demanding stringent performance requirements aiding operations under low visibility conditions. The study assesses the fit and the benefits of this approach to the Positioning Navigation & Timing (PNT) requirement adherence, in particular for the Satellite Navigation.

In addition, Airbus, together with European partners, has won a series of contracts from the European Global Navigation Satellite Systems Agency (GSA) and ESA to extend EGNOS service use for the safe operations of railways. The resulting projects are:

– CLUG (Certifiable Localisation Unit with GNSS): GNSS could prove a game changer for the European railway network by enabling a significant reduction of trackside equipment and by improving localisation performance. This project is performing mission analysis/needs identification and a preliminary feasibility study of an on-board localisation unit.

– GREET (GNSS for the Railway EnvironmEnT) ESA recently awarded Airbus a study for the development of a railway GNSS receiver chain to support the testing and validation of integrity concepts, algorithms, and techniques for receivers in railway environment.

– EGNSS-R (European GNSS for Rail): Rail signaling systems are used to safely control traffic in order to prevent train collisions. The project aims to define a new GNSS augmentation service for improved rail signaling, along with an implementation roadmap.

MGM Growth Properties Announces Pricing Of Upsized Senior Notes Offering

November 17, 2020 / WIL BALDWIN

LAS VEGAS, Nov. 17, 2020 /PRNewswire/ — MGM Growth Properties Operating Partnership LP (the “Operating Partnership”) and MGP Finance Co-Issuer, Inc. (together, the “Issuers”), consolidated subsidiaries of MGM Growth Properties LLC (NYSE: MGP) (the “Company”), have priced $750 million in aggregate principal amount of 3.875% senior notes due 2029 (the “notes”) at par. The $750 million aggregate principal amount of the notes represented an increase of $250 million from the original offering size of $500 million. The offering is expected to close on November 19, 2020, subject to customary closing conditions.

The Issuers plan to use the net proceeds of the offering for general corporate purposes, which may include the redemption of up to $700 million of the Operating Partnership units held by MGM Resorts International (“MGM”) should MGM elect to exercise certain rights it holds to cause the redemption of such units for cash.

Click the link below to read the full story!

https://finance.yahoo.com/news/mgm-growth-properties-operating-partnership-222000038.html

Enter Air to Purchase Up to Four Boeing 737-8 Jets

August 19, 2020 / WIL BALDWIN

– New order expands Polish carrier’s commitment to the 737 family

– Enter Air: “Convinced 737 MAX will be the best aircraft…for many years to come”

Boeing [NYSE: BA] and Enter Air today announced the Polish airline is expanding its commitment to the 737 family with a new order for two 737-8 airplanes plus options for two more jets.

An all-Boeing operator and Poland’s biggest charter carrier, Enter Air began operations in 2010 with a single 737 airplane. Today, the airline’s fleet includes 22 Next-Generation 737s and two 737 MAX airplanes. When the new purchase agreement is fully exercised, Enter Air’s 737 MAX fleet will rise to 10 aircraft.

“Despite the current crisis, it is important to think about the future. To that end, we have agreed to order additional 737-8 aircraft. Following the rigorous checks that the 737 MAX is undergoing, I am convinced it will be the best aircraft in the world for many years to come,” said Grzegorz Polaniecki, general director and board member, Enter Air.

Enter Air and Boeing have also finalized a settlement to address the commercial impacts stemming from the grounding of the 737 MAX fleet. While the details of the agreement are confidential, the compensation will be provided in a number of forms and staggered over a period of time.

“In the settlement with Boeing, we agreed to revise the delivery schedule for the previously-ordered airplanes in response to current market conditions. The specific terms of the settlement are strictly confidential, but we are pleased with the way Boeing has treated us as its customer,” added Polaniecki.

“We are humbled by Enter Air’s commitment to the Boeing 737 family. Their order for additional 737-8s underscores their confidence in the airplane and the men and women of Boeing,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing, The Boeing Company. “We look forward to building on our decade-long partnership with Enter Air and working with the airline to safely return their full 737 fleet to commercial service.”

Enter Air 737 MAX 8 (7210) C1 Flight – November 28, 2018

Cathay Pacific Posts Record $1.27 Billion First Half Loss

August 12, 2020 / WIL BALDWIN

Cathay Pacific aircraft are seen parked on the tarmac at the airport, following the outbreak of the new coronavirus, in Hong Kong

SYDNEY (Reuters) – Hong Kong’s Cathay Pacific Airways Ltd reported a record HK$9.87 billion ($1.27 billion) first-half loss and said it did not expect a meaningful recovery in passenger demand for some time due to the coronavirus pandemic.

The figure was in line with the HK$9.9 billion forecast it had flagged last month and included HK$2.47 billion of impairment charges.

Revenue plunged 48.3% to HK$27.7 billion in the six months ended June 30 as it slashed passenger flying to a barebones schedule due to lower demand and border restrictions, though it added more cargo-only flights as freight yields rose 44.1%.

The airline, which received a $5 billion rescue package led by the Hong Kong government, has so far refrained from large-scale job cuts but has warned it is reviewing all aspects of its business model with an update expected by the fourth quarter.

“Inevitably this will involve rationalisation of future planned capacity compared to pre-crisis plans, taking into account the market outlook and cost structure at that time,” Chairman Patrick Healy said in a statement on Wednesday.

It has rearranged its aircraft order book with Airbus SE to delay deliveries, is in advanced talks with Boeing Co to do the same and has begun sending one-third of its fleet outside Hong Kong for storage in less humid conditions.

The airline said last month that it had reduced its monthly cash burn to about HK$1.5 billion from between HK$2.5 billion and HK$3 billion while maintaining a minimal flying schedule.

Cathay is expected to report a full-year loss of around HK$13.6 billion, according to the average of 13 analysts polled by Refinitiv before it released its half-year results.

The airline’s shares had surged 9.3% on Wednesday ahead of the earnings announcement, which was made while trading was suspended for the market’s lunch break.

“It is laggard buying on some traditional economy stocks,” Steven Leung, a sales director at UOB Kay Hian, said of the rise.

($1 = 7.7506 Hong Kong dollars)

(Reporting by Jamie Freed; additional reporting by Donny Kwok in Hong Kong; Editing by Himani Sarkar)

Boeing Terminates Joint Venture Agreement With Embraer

April 27, 2020 / WIL BALDWIN

Boeing (NYSE: BA) announced today that it has terminated its Master Transaction Agreement (MTA) with Embraer, under which the two companies sought to establish a new level of strategic partnership. The parties had planned to create a joint venture comprising Embraer’s commercial aviation business and a second joint venture to develop new markets for the C-390 Millennium medium airlift and air mobility aircraft.

Under the MTA, April 24, 2020, was the initial termination date, subject to extension by either party if certain conditions were met. Boeing exercised its rights to terminate after Embraer did not satisfy the necessary conditions.

“Boeing has worked diligently over more than two years to finalize its transaction with Embraer. Over the past several months, we had productive but ultimately unsuccessful negotiations about unsatisfied MTA conditions. We all aimed to resolve those by the initial termination date, but it didn’t happen,” said Marc Allen, president of Embraer Partnership & Group Operations. “It is deeply disappointing. But we have reached a point where continued negotiation within the framework of the MTA is not going to resolve the outstanding issues.”

The planned partnership between Boeing and Embraer had received unconditional approval from all necessary regulatory authorities, with the exception of the European Commission.

Boeing and Embraer will maintain their existing Master Teaming Agreement, originally signed in 2012 and expanded in 2016, to jointly market and support the C-390 Millennium military aircraft.

The flight

One-stop shop for mobility as B2B offer

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