Tag: cost (Page 2 of 16)

Boeing Business Jets unveils premium cabin options for VIP jets

October 16, 2023 / WIL BALDWIN

Las Vegas, Nevada, October 16, 2023, PRNewswire – Boeing Company (NYSE: BA) Business Jets (BBJ) customers have a new way to customize cabin interiors for the BBJ 737-7, reducing costs and accelerating delivery of new VIP jets, the company announced today. With BBJ Select, Boeing is offering a wide range of pre-designed cabin layouts and configurations to expedite installation, while lowering the total purchase price of the airplane. The company shared its new BBJ Select premium interiors at the National Business Aviation Association & Business Aviation Convention & Exhibition (NBAA-BACE) in Las Vegas.

From guest rooms and private offices to family rooms and VIP passenger seating configurations, customers select modules for each section of the airplane. In all, BBJ Select offers 144 unique modular cabin combinations in three different color palettes, covering the spectrum of personal, business and head-of-state airplane requirements.

Designed in collaboration with award-winning business jet completion centers Aloft AeroArchitects and Greenpoint Technologies, BBJ Select layouts eliminate costs for one-time engineering and related work for the installation of a clean sheet cabin design. To simplify the purchase experience, customers sign one contract with Boeing and the company oversees the design, build and delivery of the fully outfitted VIP aircraft.

BBJ Select cabins are exclusively available for the BBJ 737-7, the newest member of the BBJ 737 MAX family. With an unmatched combination of globe-spanning range, superior cabin space and best-in-class operating economics, the BBJ 737-7 can fly passengers over 15 hours non-stop while reducing fuel use and emissions compared to previous generation business jets. Built for daily flights, BBJs provide far higher reliability and retain more residual value compared to competitors.

Tri-Cities Intermodal moves forward to develop intermodal center

October 10, 2023 / WIL BALDWIN

Wallula, Washington, October 10, 2023 – Tri-Cities Intermodal (TCI) has signed a lease/purchase agreement to acquire the former Cold Connect warehouse and property, with plans to develop an adjacent intermodal ramp in Wallula, WA. The plan represents a revival of the plans previously announced by Tiger Cool Express before they shut down operations in June. Tri-Cities Intermodal is an entirely new company – and the transaction had no connection to Tiger Cool.

Tri-Cities signed the lease/purchase agreement on Sept. 27, 2023, with Union Pacific Railroad Corporation (NYSE: UNP).

The envisioned Tri-Cities Intermodal Center will benefit the entire agricultural community in the three-state region by providing cost-effective and sustainable transportation capacity. Initially, service is intended to be offered between: Wallula and the Northwest Seaport Alliance on-dock facilities for dry imports and exports (in ISO equipment.) It will also support Union Pacific’s intermodal customers moving between Wallula and Chicago and beyond.

Allegiant Airlines secures financing for Airbus a320 ceo and Boeing 737 MAX aircraft

October 6, 2023 / WIL BALDWIN

Las Vegas, Nevada, October 3, 2023, PRNewswire – Allegiant Travel Company (NASDAQ: ALGT) announces financing commitments for seven Airbus A320 and four Boeing 737 MAX aircraft from BNP Paribas, Europe’s leading bank, and Jackson Square Aviation (JSA), a leading global commercial aircraft lessor.

The innovative $412M deal combines banking and lessor capital to secure Allegiant’s aircraft financing needs into the second quarter 2024, while providing the airline with healthy liquidity at an attractive cost in today’s market.

Allegiant has drawn down $196 million on September 29, and the remainder will be drawn commensurate with its initial 737 MAX deliveries.

Allegiant currently operates an all-Airbus fleet comprised of 127 Airbus A319’s and A320’s.

Air Lease Corporation announces Airbus A330-200 placement with HiSky

September 19, 2023 / WIL BALDWIN

Los Angeles, California, September 18, 2023, Business Wire – Today Air Lease Corporation (NYSE: AL) announced a long-term lease placement for one Airbus A330-200 aircraft with HiSky. Scheduled to deliver to the European carrier in 2023, this A330-200 aircraft joins one A319-100, four A320-200s and two A321-200neo LR aircraft currently on lease to HiSky from ALC.

“We are pleased to continue our support of HiSky Europe with the lease of this first widebody aircraft to the airline,” said David Beker, Senior Vice President, Marketing and Head of Aircraft Sales & Trading at Air Lease Corporation. “After two and a half years of steady and successful growth with their all-ALC narrowbody fleet, HiSky came to us ready to launch widebody operations and ALC is delighted to provide high-quality aircraft that will enable the carrier to realize their commercial objectives.”

“Over the past two years, we’ve experienced consistent growth that has brought us to this pivotal moment—the moment when we are prepared to acquire our first widebody aircraft. We’ve now become the fourth-largest air carrier at Romania’s primary airport and the largest operator of Airbus aircraft registered in Romania. Our partnership with ALC has undeniably proven to be a successful one. The aircraft they have provided us have been instrumental in helping HiSky achieve record-breaking passenger levels during this summer season. Having accomplished all the goals we set for ourselves over the years, we’re profoundly grateful for the trust and support of our partners as we embark on this exciting new venture,” said Iulian Scorpan, CEO of HiSky.

Forward-Looking Statements

This press release 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.

Southwest Airlines named Best Airline For Families in Money magazine’s list of 2023 travel awards

September 16, 2023 / WIL BALDWIN

Dallas, Texas, September 15, 2023 – Southwest Airlines Co. (NYSE: LUV) was named Best Airline for Families on MONEY magazine’s 2023 Travel Awards list. MONEY recognized Southwest Airlines for its Family Boarding process, two free checked bags,¹no change²or cancellation³ fees, and creating a flexible travel experience at a low cost. Southwest Customers also enjoy family-friendly content for free on the Inflight Entertainment Portal.⁴

“Families on the go turn to Southwest for more than our low fares and flexible policies,” said Jonathan Clarkson, Vice President of Marketing at Southwest Airlines. “We know families traveling together are looking for a comfortable and smooth travel experience, and our People take great pride in delivering their legendary Hospitality every step of the way.”

MONEY’s Best Airlines List assessed 10 major U.S. based carriers utilizing various criteria from multiple data resources to evaluate customer satisfaction with an airline’s network size, rewards programs, and policies.

For more information on Southwest’s flexible policies, visit Southwest.com.

1. First and second checked bags; weight and size limits apply.
2. If a Customer needs to change an upcoming flight itinerary, they’ll only pay the cost in fare difference.
3. Failure to cancel a reservation at least 10 minutes prior to scheduled departure may result in forfeited flight credits.
4. Where available. Available only on WiFi-enabled aircraft. Limited-time offer.

AirAsia X welcomes Australia and Kiwi guests on board

September 11, 2023 / WIL BALDWIN

AUSTRALIA/NEW ZELAND, 11 September 2023 – Asia’s low fare leader for medium haul international air travel, AirAsia X Bhd (Kuala,Lumpur: AIRX), reaffirms its commitment to providing the very best in terms of safe, affordable and reliable air travel for its Australian and Kiwi guests.

Following the recent (finder.com.au) survey announced earlier this week – highlighting that more than a third of Australians or more than 7 million people, have chosen to fly with a low cost airline in the past 12 months, AAX continues to play its part to make flying affordable and convenient to access over 130 destinations across Asia.

AirAsia X (airline code D7) fares on sale now are listed below:

AAX Current Flight Schedule On Sale Now – to/from Australia & Nre Zealand

Norse Atlantic Airways launches ticket sales for new route between Paris and Los Angeles

September 6, 2023 / WIL BALDWIN

Norse Atlantic Airways (NORSE.OL), the pioneering low-cost long-haul airline, is thrilled to announce the commencement of ticket sales for its direct route between Paris and Los Angeles. This new service, operating six times a week, is set to commence on 1^stMay 2024 and is available to book immediately on www.flynorse.com

Flights depart Paris (CDG) at 16.15 and arrive at Los Angeles (LAX) at 19.05. Flights depart Los Angeles at 21.10 and arrive at Paris at 17.00 the following day. One way fares start from €319 in Economy and €665 in Norse Premium including all taxes.

Norse Atlantic exclusively operates Boeing 787 Dreamliner aircraft. The cabin offers passengers a relaxed and comfortable travel experience with each seat including a personal state of the art entertainment experience. Our Premium cabin offers an industry leading 43” seat pitch and 12” recline allowing passengers to arrive at their destination feeling refreshed and ready to explore their destination.

Norse Atlantic offers two cabin choices, Economy and Premium. Passengers can choose from a simple range of fares, Light, Classic and Flextra, that reflect the way that they want to travel, and which options are important to them. Light fares represent Norse’s value option while Flextra fares include the maximum baggage allowance, two meal services an enhanced airport and onboard experience and increased ticket flexibility.

AirAsia welcomes inaugural flight from Hong Kong to Penang

August 13, 2023 / WIL BALDWIN

Penang, Malaysia, August 12, 2023 – AirAsia (5238.KL) celebrated its newly-resumed flight from Hong Kong to Penang today with a grand welcome. The route, operated with a thrice weekly frequency, marks a significant milestone for AirAsia making it the only low-cost carrier offering this direct air connection between the two vibrant cities.

The welcoming ceremony was graced by the Deputy Minister of Tourism, Arts and Culture of Malaysia, YB Khairul Firdaus Akbar Khan, the Caretaker Penang State EXCO for Tourism & Creative Economy, YB Yeoh Soon Hin, Chief Executive Officer of Penang Global Tourism, Mr Ooi Chok Yan, and Non-Executive Director of Capital A, Dato’ Abdul Aziz Bakar, further highlighting the importance of this new connectivity for both leisure and business opportunities.

Flight AK2280 departed from Hong Kong International Airport and arrived at Penang International Airport at 2.55pm with an impressive load of 96 percent, of which elated guests were greeted with a warm reception. Guests on board the flight were welcomed with a water cannon salute and were treated to exclusive AirAsia merchandise.

The famous ‘Pearl of the Orient’ renowned for its rich history, diverse culture, and delectable cuisine has long been a popular destination for both leisure and business travellers. With the introduction of this new route, AirAsia aims to enhance connectivity between Hong Kong and Penang, making it more seamless for travellers to explore the beauty and charm of this picturesque island.

A.P. Moller – Maersk reports robust Q2 financial results in difficult market

August 7, 2023 / WIL BALDWIN

Copenhagen, Denmark – A.P. Moller – Maersk (OTC: AMKBY) reports a second quarter of 2023 ahead of expectations, while the ongoing market normalisation continued through the quarter leading to lower volumes and lower rates. Revenue stood at USD 13.0bn compared to USD 21.7bn in Q2 2022 while profitability was strong at 12.4% although significantly lower compared to the extraordinarily strong Q2 2022. Reflecting the strong first half performance, Maersk raises its financial outlook and now expects underlying EBITDA of USD 9.5 – 11.0bn (previously USD 8.0 – 11.0bn), underlying EBIT of USD 3.5 – 5.0bn (previously USD 2.0 – 5.0bn) despite a weakened second half market outlook.

Ocean revenue decreased to USD 8.7bn from USD 17.4bn driven by a decrease in freight rates and loaded volumes. While the volume and rate environment stabilized at a lower level during Q2, Ocean continued to be impacted by lower demand, driven by a significant inventory correction in particular in North America and Europe. A strong cost management allowed to partially offset the top line impact on financial performance in Ocean.

Revenue in Logistics & Services was USD 3.4bn compared to USD 3.5bn. The segment was also impacted by lower volumes due to the continued destocking and weaker consumer demand, as well as low rates. As in Ocean, market demand is expected to continue to be subdued as long as the inventory correction is ongoing.

Revenue in Terminals decreased to USD 950m from USD 1.1bn and was influenced by the normalisation of storage revenue and lower volumes amid lower consumer demand and less congestion in North America. Strong cost control contributed to a continued solid financial performance.

Embraer deliveries increase 47% in second quarter 2023

August 6, 2023 / WIL BALDWIN

Sao Jose dos Campos, Brazil, August 3, 2023 – Embraer (NYSE: ERJ) delivered a total of 47 jets in the second quarter of 2023, of which 17 were commercial aircraft and 30 were executive jets (19 light jets and 11 midsize jets). During the year, the company delivered a total of 62 aircraft (24 commercial and 38 executive). The second quarter deliveries were 47% higher than in the same period from 2022. In the first half of 2023, the volume has increased 35% compared to 2022, when 46 jets have been delivered. Compared to the second quarter of 2022, deliveries volume increased by 55% in Commercial Aviation and 43% in Executive Jets. The firm order backlog ended the period at US$ 17.3 billion.

In Commercial Aviation, American Airlines signed a firm order with Embraer for seven new E175’s. The aircraft will be operated by the subsidiary Envoy Air. With deliveries to begin 4Q23, Envoy’s fleet of E-Jets will grow to over 141 aircraft by the end of 2024. Embraer also received a firm order from Binter for six E195-E2’s, which will bring Binter’s E2 fleet to 16 jets when deliveries are completed. Four E175’s also began operations with Star Air, an Indian airline that already operates E-Jets. Star Air has also extended its Pool Program contract to include the E175’s in its fleet

Malaysia’s SKS Airways closed an agreement to add ten E195-E2 jets to its fleet. In addition, SKS joined the Pool Program to support aircraft to be operated in Southeast Asia. Scoot, a low-cost subsidiary of Singapore Airlines, is also adding nine E190-E2’s to its portfolio. And Royal Jordanian Airlines reached an agreement to introduce eight E190-E2 and E195-E2 jets into its operations, with deliveries starting in the 4Q23. All three agreements involved contracts with the leasing company Azorra.

Aerial view of the Singapore landmark financial business district at twilight sunset scene with skyscraper and beautiful sky. Singapore downtown

In Executive Aviation, NetJets signed a contract with Embraer for the acquisition of up to 250 Praetor 500 jet options. The deal is valued at more than US$ 5 billion, and deliveries are expected to begin in 2025.

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