TOMORROWS TRANSPORTATION NEWS TODAY!
Delta Air Lines (NYSE: DAL) now 5-year-old Joint Venture with Korean Air is a significant driver of Delta’s evolution into a global brand, with robust international demand driven by experience-seeking customers.
That’s according to Delta’s Managing Director of East Sales, Scott Jordan, who recently sat down for an interview with The Korea Economic Daily, one of South Korea’s major daily newspapers.
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Delta Korean Air joint venture
Canberra, Australia, August 29, 2023 – Lockheed Martin (NYSE: LMT) welcomed today’s announcement by the Department of Defense on being selected as the strategic partner to steward AIR6500 Phase 1 (AIR6500-1).
AIR6500-1 will provide the Australian Defence Force (ADF) with a Joint Air Battle Management System (JABMS) that will form the ground-breaking architecture at the core of the ADF’s future Integrated Air and Missile Defence (IAMD) capability. This first-of-its-kind system will provide greater situational awareness and defence against increasingly advanced air and missile threats, as well as give the ADF increased levels of interoperability with the United States and allied partners.
Since 2015, Lockheed Martin Australia has been highly dedicated to supporting ADF’s vision to transform into a fully integrated and IAMD capable force through AIR6500-1.
Lockheed Martin Australia has advanced a sovereign AIR6500-1 system solution that has been built from the ground up in Australia by Australians to safeguard Australia’s national security. To-date, Lockheed Martin Australia has:
DENVER – 02 August, 2023 – Voyager Space, a global leader in space exploration, and Airbus (OTC: EADSY) Defence and Space, the largest aeronautics and space company in Europe, today announced an agreement paving the way for a transatlantic joint venture to develop, build, and operate Starlab, a commercial space station planned to succeed the International Space Station. The US-led joint venture will bring together world-class leaders in the space domain, while further uniting American and European interests in space exploration.
Voyager was awarded a $160 million Space Act Agreement (SAA) from the National Aeronautics and Space Administration (NASA) in December 2021 via Nanoracks, part of Voyager’s exploration segment. Part of NASA’s Commercial Low Earth Orbit Development Program, this SAA sets the foundation to create Starlab, a continuously crewed, free-flying space station to serve NASA and a global customer base of space agencies and researchers.
The program’s mission is to maintain continued human presence and American leadership in low-Earth orbit (LEO). Today’s announcement builds on an agreement made public in January 2023, where Voyager selected Airbus to provide technical design support and expertise for Starlab.
In addition to the US entity, Starlab will have a European joint venture subsidiary to directly serve the European Space Agency (ESA) and its member state space agencies.
Air France-KLM (OTC: AFLYY) today announces that it has entered into exclusive discussions with Apollo Global Management (NYSE: APO) regarding the potential financing of E1.5bn to a dedicated operating affiliate of Air France-KLM. This entity will hold the trademark and most of the commercial partner contracts related to Air France and KLM’s joint loyalty program “Flying Blue”, and will become the exclusive issuer of miles for the airlines and partners.
This financing would be non-dilutive, structured through a quasi-equity instrument, similarly to those raised by Air France on a pool of spare engines in July 2022 and maintenance activity components in July 2023. Under this agreement, Apollo-managed funds would subscribe to perpetual bonds issued by this dedicated operating affiliate of Air France-KLM.
This financing would be accounted as equity under IFRS, allowing Air France-KLM to make a further step towards its commitment to restore its equity and strengthen its balance sheet, aside from net profit generation and/or straight hybrid bonds.
The contemplated structure related to this financing would incur no change on the operation of the program vis-à-vis the Flying Blue members, no change on social aspects nor Air France, KLM or Air France-KLM employee’s contracts.
Air France-KLM would pursue managing and operating its loyalty program and Air France and KLM would keep full ownership rights of the Flying Blue customer database.
Volvo Cars (OTC: VLVLY) today reports a 39 per cent increase in operating profits, excluding joint ventures and associates, to SEK 6.4 bn and a corresponding EBIT margin of 6.3 per cent for the second quarter of 2023. The result came despite a SEK 0.9 bn, non-recurring item related to the redundancy programme announced in May, part of securing a more efficient and sustainable cost base for the future. Without this item, the underlying EBIT margin, excluding joint ventures and associates, was 7.2 per cent in the second quarter. This illustrates that the solid underlying performance momentum from the first three months of the year continued during this past quarter.
Click the link below to read the entire press release!
Virgin Atlantic Cargo has announced a Sustainable Aviation Fuel Certificate (SAFc) program, designed to help freight forwarders and shippers manage their carbon emissions whilst demonstrating joint commitment to scaling the SAF industry.
Customers participating in the scheme will contribute to the airline’s purchase of SAF, receiving a SAF certificate for the associated scope 3 emissions reductions. Customers will also benefit from detailed insight into their Scope 3 air freight emissions via Virgin Atlantic Cargo’s own air freight carbon calculator. Developed in-house and independently certified, the calculator uses an industry recognised methodology and Virgin Atlantic’s actual flight emissions data to provide powerful insights to participating customers, enabling them to take action on their carbon footprint.
DB Schenker is the first to participate in the scheme with the purchase of over several thousand tonnes of scope 3 emissions reductions. The global logistics service provider is continuously expanding its SAF based air freight solutions.
The SAFc programme is driven by the airline’s commitment to 10% SAF by 2030 on the pathway to Net Zero 2050. The scheme creates a broader industry coalition that can provide further proof of the demand and support needed to scale a UK SAF industry which is key to decarbonising aviation.
Virgin Atlantic’s first UK SAF supply of 2.5 million litres of Neste Oyi neat SAF delivered into London Heathrow in 2022 is fuelling the programme. This is an important milestone as the airline scales it’s use and commitment to SAF in the UK.
Virgin Atlantic and Virgin Atlantic Cargo are committed sustainability leaders. The airline operates one of the youngest and fuel efficient commercial fleets across the Atlantic and has over fifteen years of supporting SAF development, including ambitions to fly the world’s first 100% SAF transatlantic flight later this year.
Rolls-Royce (RR.L) will provide 70 of its mtu Series 4000 engines, produced in Yulin by MTU Yuchai Power, the Chinese Joint Venture with Yuchai Diesel, for use in generator sets that will be packaged and distributed by emergency power systems provider Hefei Calsion Electric System Co., Ltd. The gensets will be installed at multiple semiconductor manufacturing locations in China to ensure that chip production is not affected by power failures.
The rapid expansion of information technology applications such as artificial intelligence, cloud computing, big data and Internet of Things (IoT), has resulted in growing market demand for semiconductor products. In recent years, Chinese semiconductor enterprises have experienced a significant growth period due to the acceleration of domestic insourcing and the upgrade of industrial technologies.
The guarantee of continuous power supply is critical for semiconductor factories, as the manufacturing process is very sensitive. The products on the production line are at risk of being scrapped after even a few minutes of power disruption. The mtu engine-powered generator sets installed by Calsion will provide uninterrupted switching between diesel engines and grid power to deliver continuous loading capacity under high load conditions, helping to ensure the stable operation of production lines and special process systems such as safety, clean room, and cooling and pure water systems.
As the leader of semiconductor power system solutions, Hefei Calsion Electric System Co., Ltd. specializes in the R&D, manufacturing, marketing and services of generator sets, and has R&D centers, modern production bases and first-class test systems. Its original semiconductor power system solution has won a market share of more than 70% of the domestic semiconductor industry emergency power system solution-based projects in China. It is a strategic partner and designated OEM manufacturer of Rolls-Royce in China, as the two parties have maintained close cooperation for 18 years.
February 18, 2022 – Alstom (OTC: ALSMY) Chinese joint venture, Shentong Bombardier (Shanghai) Rail Transit Vehicle Maintenance Co., Ltd., has been awarded a contract from Shanghai Shentong Metro Group Co., Ltd. (Shanghai Metro) to provide whole lifecycle maintenance service for 204 Movia metro cars (34 trains) on Shanghai’s Line 12 phase 2 and phase 3 project. The total contract is valued at approximately €43.6 million (330 million CNY excl. VAT).
Under the contract, SHBRT will adopt the condition-based maintenance regime by deploying the advanced maintenance tools, including Alstom’s Orbita advanced train monitoring system, Automatic Vehicle Inspection System, etc., to improve the safety, reliability, availability and efficiency of Shanghai’s Line 12 fleet. The scope of the contract includes preventive maintenance, corrective maintenance, balanced overhauls, safety inspections, train cleaning and train escort services for 204 metro cars. The project is expected to be completed in November 2027.
Alstom (OTC: ALSMY) and Hitachi Rail have today confirmed that the Hitachi-Alstom High Speed (HAH-S) 50/50 joint venture has signed contracts with High Speed Two (HS2) to design, build, and maintain the next generation of very high speed trains for HS2 Phase 1 as part of the £1.97 billion contract, including an initial 12-year train maintenance contract.
The UK’s two leading train manufacturers will deliver Europe’s fastest operational train, capable of operating at maximum speeds of 225mph (360 km/h), significantly reducing journey times for passengers. The fleet will be 100% electric, and be one of the world’s most energy efficient very high speed trains due to the lower train mass per passenger, aerodynamic design, regenerative power and latest energy efficient traction technology.
In a major boost to grow and rebalance the economy, the HAH-S joint venture will manufacture the 54 trains at newly enhanced facilities in County Durham, Derby and Crewe. The award to the British-based firms will protect and create thousands of green jobs and add £157 million GVA to the UK economy for every year of the train building phase.
The new 200m-long, 8-car trains are set to run in Phase 1 of the project between London and Birmingham, and on the existing network, and will dramatically increase capacity and connectivity between towns and cities across the country including Stoke, Crewe, Manchester, Liverpool, Carlisle, Motherwell and Glasgow. They will have a major impact in reducing carbon emissions from transport by encouraging people away from fossil fuelled cars and planes, and onto rail.
FORT WORTH, Texas, Sept. 13, 2021 /PRNewswire/ — The F-35 Joint Program Office awarded the Lockheed Martin (NYSE: LMT) industry team annualized contracts covering fiscal years 2021-2023 to support operations and sustainment of the global F-35 fleet, supporting mission readiness and further reducing costs.
The annual contracts fund critical sustainment activities for aircraft currently in the fleet and build enterprise capacity to support the future fleet of more than 3,000 F-35 aircraft. This includes industry sustainment experts supporting base and depot maintenance, pilot and maintainer training, and sustaining engineering for the U.S. and our allies across the globe. It also covers fleet-wide data analytics and supply chain management for part repair and replenishment to enhance overall supply availability for the fleet.
The FY2021-2023 contracts represent a planned next step in further reducing overall operations and support costs for the F-35 program, which are shared between government and industry. Lockheed Martin has reduced our cost per flight hour by 44% in the past five years, with a forecasted reduction of an additional 40% in the next five years. The cost savings in the FY21-23 annualized sustainment contracts support Lockheed Martin’s efforts to realize these goals. The savings will be achieved through improved cost and velocity in our supply chain, continued reliability improvements, and greater manpower efficiencies to provide product support solutions across the growing, global fleet. We remain committed to partnering with our customers and teammates to drive F-35 sustainment costs down.
The contracts also pave the way for a longer-term, Performance Based Logistics (PBL) agreement for the F-35 program. PBLs are an industry best practice, facilitating agile sustainment solutions for the fleet and incentivizing even further affordability and performance results.
The F-35 Joint Program Office, together with each U.S. service, international operators and the F-35 industry team, leads F-35 sustainment and the Global Support Solution. The 2021 annualized sustainment contract will cover industry sustainment activities through Dec. 31, 2021.
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