Los Angeles, California, February, 2021 – Air Lease Corporation (NYSE: AL) announced today long-term lease placements for two used Airbus A320-200 aircraft with Qanot Sharq Airlines (Uzbekistan), scheduled to deliver this March. This will be the first two aircraft in the fleet of the Uzbek startup airline.
“ALC is pleased to announce this lease placement of two A320-200s with Qanot Sharq Airlines,” said AJ Abedin, Vice President, Marketing of Air Lease Corporation. “We have worked closely with the Qanot Sharq executive team and are thrilled to participate in the launch of the first Uzbek startup airline through the placement of their first two aircraft.”
“We are honored and excited to work with one of the largest aircraft leasing companies in the world to assist with the launch of our airline,” said Nosir Abdugafarov, owner of Qanot Sharq Airlines. “These two A320-200s are scheduled to deliver in March and will be the first two aircraft in Qanot Sharq’s fleet, ensuring the highest standard of safety and comfort for our passengers.”
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.
About Qanot Sharq Airlines
Established as the first privately owned Airline in Uzbekistan, Qanot Sharq is led by a team of highly accomplished airline industry professionals with over 200 years of combined industry experience. The airline will operate from multiple regional airports in Uzbekistan, providing scheduled air service to international destinations such as Istanbul, Ankara (Turkey), Dubai (UAE), Jeddah, Medina (Saudi Arabia), Moscow, St. Petersburgh (Russian Federation) and Almaty (Kazakhstan).
Sikorsky, a Lockheed Martin Company (NYSE: LMT), and Boeing (NYSE: BA) today released details of its advanced helicopter for the U.S. Army’s Future Long Range Assault Aircraft competition, known as FLRAA. The aircraft, named DEFIANT X, will be the fastest, most maneuverable and most survivable assault helicopter in history. Combined with the team’s unsurpassed experience in mission systems, training and sustainment, it will revolutionize the way the Army meets threats in 2035 and beyond.
DEFIANT X is a complete weapon system that builds on the handling qualities and transformational capabilities proven by the team’s technology demonstrator, SB>1 DEFIANT®. With unmatched range and survivability, DEFIANT X will to fly low and fast through complex terrain, land quickly, deliver soldiers and equipment to the objective area (referred to as “the X”) and get out.
DEFIANT X flies twice as far and fast as the venerable Black Hawk helicopter it is designed to replace. Currently undergoing testing in a digital combat environment, the aircraft continues to prove itself the most survivable platform for mission requirements.
“We are ready to deliver unparalleled capabilities backed by proven technologies that will truly transform the Army’s mission today – with room to grow and adapt to the missions of tomorrow,” said Andy Adams, Sikorsky vice president of Future Vertical Lift. “DEFIANT X not only includes the transformational aircraft, mission systems and revolutionary sustainment solution, but also leverages Sikorsky’s and Boeing’s advanced manufacturing capabilities.”
With its rigid coaxial rotor system and pusher propeller, DEFIANT X incorporates Sikorsky X2 Technology™ to operate at high speeds while maintaining low-speed handling qualities. This critical capability provides soldiers with increased maneuverability and survivability in high-threat air defense environments, allowing them to penetrate enemy defenses while reducing exposure to enemy fire.
“DEFIANT X is purpose-built for a modernized Army that requires expanded reach, survivability and lethality,” said Steve Parker, vice president and general manager of Boeing Vertical Lift. “This weapon system will give soldiers unequaled technological advantage and connectivity over adversaries in a multi-domain battle space.”
DEFIANT X will revolutionize the Army’s air assault capability with limited changes in tactics, techniques, procedures, training and infrastructure while maintaining the Black Hawk helicopter footprint and tight formation capability flown today.
The Army is expected to release a request for proposal on FLRAA later this year, with a contract award expected in 2022.
Kansas City Southern (KCS) (NYSE: KSU) will release its fourth quarter 2020 financial results on Friday, January 22, 2021, before the opening of trading on the New York Stock Exchange.
KCS will also hold its fourth quarter 2020 earnings conference call on Friday, January 22, 2021 at 8:45 a.m. eastern time. Shareholders and other interested parties are invited to participate via live webcast or telephone. To participate in the live webcast and to view accompanying presentation materials, please log into investors.kcsouthern.com immediately prior to the presentation. To join the teleconference, please call (844) 308-6428 from the U.S., or (412) 317-5409 from all other countries.
A replay of the presentation will be available by calling (877) 344-7529 from the U.S., (855) 669-9658 from Canadaor (412) 317-0088 from all other countries and entering conference ID 10150484. The webcast replay and presentation materials will be archived on the company’s website.
Headquartered in Kansas City, Mo., Kansas City Southern is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS’ North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.
Union Pacific Corporation (NYSE: UNP) will release fourth quarter 2020 financial and operating results on Thursday, January 21, 2021, at 8:00 a.m. ET. The company’s management team will host a conference call and live webcast at 8:45 a.m. ET.
Parties interested in participating via teleconference may dial 877-407-8293. International callers may dial 201-689-8349. A live webcast of the presentation and materials will be available in the investor relations section of Union Pacific’s website at www.up.com/investor. A replay of the audio webcast will be available shortly thereafter.
EmbraerX, Embraer’s disruptive business subsidiary, and Airservices, Australia’s civil air navigation service provider, have developed a new concept of operations (CONOPS) for the air taxi market, also known as urban air mobility (UAM). Going forward, Eve Urban Air Mobility Solutions, the new EmbraerX spin-off, will be responsible for this partnership with Airservices and for the development of Urban Air Traffic Management solutions.
Australia is one of the countries benefitting from this innovation revolution and is attracting industry interest and investment, largely due to strong government support and a world-leading aviation safety record. This CONOPS was created to help safely introduce and accelerate the growth of the UAM market in Australia.
This CONOPS explores new and practical concepts to safely facilitate the introduction of the air taxi industry. Using the City of Melbourne, Australia as a model, the CONOPS examines how existing air traffic management solutions can initially enable UAM operations while simultaneously preparing for scale of operations through new traffic management technologies.
The CONOPS leverages Airservices’ sophisticated simulation technology to demonstrate how air taxis could be integrated with existing airspace users in the highly complex Melbourne airspace. This level of simulation provides a scientific basis to the CONOPS.
David Rottblatt, Project Leader for EmbraerX’s Urban Air Traffic Management and appointed to be the future Vice President of Business Development for Eve said, “This CONOPS proposes a safe method for allowing the UAM industry in Australia to scale. Following this first critical step, we will start gathering feedback from industry stakeholders and the community to further inform how we can co-create this exciting future.”
Mesa Air Group, Inc. (NASDAQ: MESA) will release its fourth quarter earnings for fiscal year 2020 after the market closes on Wednesday, December 9. The company will also host a conference call to discuss the results on December 9 at 4:30 pm Eastern Time.
The call can be accessed by dialing 888-469-2054 and entering the passcode: PHOENIX (7463649).
(Reuters) – Avianca Holdings, Latin America’s second-largest airline, filed for bankruptcy on Sunday, after failing to meet a bond payment deadline, while its pleas for coronavirus aid from Colombia’s government have so far been unsuccessful.
If it fails to come out of bankruptcy, Bogota-based Avianca would be one of the first major carriers worldwide to go under as a result of the pandemic, which has crippled world travel.
Avianca has not flown a regularly scheduled passenger flight since late March and most of its 20,000 employees have gone without pay through the crisis.
“Avianca is facing the most challenging crisis in our 100-year history,” Avianca Chief Executive Anko van der Werff said in a news release.
While Avianca was already weak before the coronavirus outbreak, its bankruptcy filing highlights the challenges for airlines that cannot count on state rescues or on such rescues coming fast enough. Avianca is still hoping for a government bailout.
“This isn’t a surprise at all,” said Juan David Ballen, chief economist at Casa de Bolsa brokerage in Bogota. “The company was heavily indebted despite the fact it tried to restructure its debt last year.”
Avianca, the second-oldest continually operating airline in the world after KLM, had $7.3 billion in debts in 2019. The airline filed for Chapter 11 bankruptcy in New York and said it would continue operations while it restructured its debts.
The Colombian Association of Civil Aviators (ACDAC), a union representing many Avianca employees, said it supported the move.
Avianca already went through bankruptcy in the early 2000s, from which it was rescued by a Bolivian-born oil businessman, German Efromovich.
Efromovich grew Avianca aggressively but also saddled the carrier with significant debt until he was ousted from the airline last year in a boardroom coup led by United Airlines Holdings Inc. He still owns a majority stake in the carrier.
United stands to lose up to $700 million in loans related to Avianca.
Efromovich told Reuters on Sunday that he disagreed with the decision to file for bankruptcy and that he was not involved in making it.
The logo of Avianca Airlines is pictured at a counter following the cancellation of an Avianca flight to San Salvador due to coronavirus fears in Mexico City
Major upgrade adds option to load instrument procedures, customized holds and more
Garmin International, Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), today announced the addition of new features within the Garmin Pilot™ app that incorporate professional IFR navigation tools found within Garmin avionics. Pilots can experience a near-seamless transition between Garmin avionics and the Garmin Pilot app when performing common functions, such as loading and activating instrument approach procedures, departures and arrivals within the Americas. Additional features such as a visual procedure selector, custom holding patterns and more, give pilots convenient access to advanced tools all within a mobile app.
Vertical planning within Garmin Pilot (Photo: Business Wire)
“Leveraging technologies found within Garmin avionics and flight decks, we’re excited to bring this game-changing update to Garmin Pilot customers,” said Carl Wolf, vice president of aviation sales and marketing. “This upgrade gives pilots the ability to load complex routes and procedures into the app just as they would within a Garmin integrated flight deck, offering added convenience, time savings and confidence when transitioning between multiple Garmin products in the cockpit.”
Professional IFR navigation tools
Within the latest Garmin Pilot upgrade, pilots have the option to load or activate departures, arrivals and instrument approach procedures. Published holds that are included as part of the missed approach are also added to the flight plan. When pilots activate a procedure with published altitude constraints, those altitudes are automatically incorporated into a flight plan within the app. Pilots can also choose to manually add altitude constraints into a flight plan. Additionally, approach procedures with radius-to-fix (RF) legs can be activated within Garmin Pilot.
Using the vertical planning feature within Garmin Pilot, pilots can more easily input and adhere to crossing restrictions in a flight plan. For example, pilots can manually input a crossing restriction over a specific navigational aid or GPS waypoint. With these new features, pilots can optimize their flight planning and fuel calculations.
Visual procedure selector
Pilots can now more easily visualize departures, arrivals and instrument approach procedures prior to a flight using the visual procedure selector. This new selector allows pilots to simultaneously view departures, approaches or arrivals on a map alongside a flight plan so it’s easier to visualize and select the most appropriate procedure based on a flight plan and intended direction of flight.
Customized holding procedures
Pilots now have the flexibility to easily build customized holding patterns. These holds may be created over an existing fix or over a user-defined waypoint and then inserted into a flight plan. When creating a hold, pilots can easily input an inbound or outbound course, select left or right turns and specify leg length in time or distance. Unpublished holds or those assigned by air traffic control are easily created and displayed within Garmin Pilot to simplify the process of visualizing and flying a holding pattern.
Worldwide route data packages
Route data packages within Garmin Pilot help to ensure pilots have downloaded all of the data required for a flight plan. Once a flight plan is entered, pilots can review the data that is downloaded to their mobile device. If information is missing for a particular flight, Garmin Pilot displays an option to download additional data. Route data packages are also available worldwide to help ensure pilots have all of the data they need prior to every flight. Databases that are included within the worldwide route data packages include navigation data, instrument approach procedures, SafeTaxi®, terrain, obstacles and more.
The newest release of Garmin Pilot on Apple mobile devices is available immediately. For new customers, Garmin Pilot is available in the Apple App Store as a free download for the first 30 days. After the 30-day trial period, customers may purchase an annual subscription of Garmin Pilot starting at $79.99. Garmin Pilot is supported by Garmin’s award-winning aviation support team, which provides 24/7 worldwide technical and warranty support. Visit www.garmin.com/aviation for additional information.
