Tag: requirement (Page 2 of 2)

Spirit Airlines Signs MoU for up to 100 A320neo Family Aircraft

October 25, 2019 / WIL BALDWIN

Airbus and Spirit Airlines have agreed to a Memorandum of Understanding for the U.S.-based airline to acquire up to 100 A320neo Family aircraft. Spirit announced its intention to place firm orders for a mix of A319neo, A320neo, and A321neo to meet its future fleet requirements.

“This new order represents another milestone for Spirit,” said Spirit Airlines’ President and CEO Ted Christie. “The additional aircraft will be used to support Spirit’s growth as we add new destinations and expand our network across the U.S., Latin America, and the Caribbean. We look forward to working with our valued partners at Airbus to finalise our agreement.”

“The Airbus A320 Family has been a strong platform for the remarkable success of Spirit over the past several years,” said Airbus Chief Commercial Officer Christian Scherer. “The ongoing, enthusiastic spirit the airline demonstrates in our A320neo Family is most rewarding, and we look forward to playing a part in the Spirit team’s continued growth for many, many years to come.”

Spirit is a fast growing ultra-low-cost carrier in the Americas, based in South Florida.

Featuring the widest single-aisle cabin in the sky, the best-selling A320neo Family, comprising the A319neo, A320neo, and A321neo, deliver at least 20% reduced fuel burn as well as 50% less noise compared to previous-generation aircraft, thanks to incorporating the very latest technologies including new-generation engines and Sharklets. At the end of September 2019, the A320neo Family had received more than 6,650 firm orders from nearly 110 customers worldwide.

Avianca Exchanges $475 mln in Bonds, Gets United Funding

September 12, 2019 / WIL BALDWIN

BOGOTA, Sept 12 (Reuters) – Latin American airline Avianca announced the exchange of $475.2 million in bonds on Thursday, part of a plan to change its capital structure amid ongoing financial problems and enough to receive additional financing from United Airlines.

In a statement to Colombia’s financial regulator, Avianca said it would extend the deadline for bond holders to exchange their paper until Sept. 25, in a bid to exchange a total of $550 million worth of bonds coming due next year.

Investors can exchange the bonds for others also coming due in 2020, but with a $50 bonus per $1,000.

United Airlines and Kingsland Holdings Limited, which between them control Avianca, said in a joint statement that results of the exchange thus far were sufficient for it to give the airline up to $250 million in additional financing.

“We are also pleased to confirm that this achievement is sufficient to satisfy United’s requirement for the exchange of these May 2020 bonds, regarding our previously announced offer, together with Kingsland, to loan $250 million to Avianca Holdings,” said John Gebo, senior vice president of alliances for United Airlines.

“Our loan remains contingent on certain other conditions being met by Avianca Holdings, including certain commitments and waivers made by other stakeholders,” Gebo said.

United launched a management overhaul at Avianca in May, removing top shareholder German Efromovich from controlling the cash-strapped airline.

(Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb; Editing by Tom Brown)

Air Lease Places Two Airbus A321-200’s With Air Canada

July 11, 2019 / WIL BALDWIN

Today Air Lease Corporation (AL) announced the lease and delivery of two Airbus A321-200 aircraft to Air Canada.

“We are delighted to announce the lease of these two young A321 aircraft to Air Canada, which will support their fleet requirements and expanding network for many years to come,” said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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.

Cessna Citation Excel, XLS Receive Garmin G5000 Certification

July 1, 2019 / WIL BALDWIN

WICHITA, Kan. (July 1, 2019) – Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company, today announced that the Garmin International G5000 integrated flight deck is now available for the Cessna Citation Excel and Citation XLS. The G5000 modernizes the cockpit, solves parts obsolescence and addresses mandate requirements, while also offering a lower cost of operation.

“The Citation Excel and Citation XLS continue to be two of the most popular business jets in the world,” said Kriya Shortt, Textron Aviation senior vice president, Global Customer Support. “The G5000 will modernize the cockpit to offer customers additional situational awareness, lower cost of operation and an improved in-flight experience in the aircraft they already know and love.”

The G5000 integrated flight deck for the Citation Excel and Citation XLS features three landscape-oriented displays with split-screen capability, intuitive touchscreen controllers, and geo-referenced Garmin SafeTaxi airport diagrams. New to the Citation Excel, emergency descent mode is available as a standard feature with the G5000 and is enabled by the autopilot in the event of a loss in aircraft pressurization. Additionally, operators gain access to more airports and lower approach minimums throughout the world as the G5000 has PBN/RNP 0.3 with LPV/APV approach capability.

The G5000 integrated flight deck upgrade is available immediately for Citation Excel and Citation XLS aircraft at Textron Aviation Service Centers and select Garmin dealers.

Southwest Airlines Schedule Revision and MAX Update

June 13, 2019 / WIL BALDWIN

Southwest Airlines continues to await guidance from Boeing and the Federal Aviation Administration (FAA) on the impending 737 MAX software enhancements and training requirements. We are encouraged by the reported progress and proposed path forward for returning the aircraft to service, and we remain confident that, once certified by the FAA, the enhancements will support the safe operation of the MAX.

In April, we revised our flight schedule by removing the MAX through Aug. 5 to offer reliability to our operation and stability for our Customers during the busy summer travel months. With the timing of the MAX’s return-to-service still uncertain, we are again revising our plans to remove the MAX from our schedule through Sept. 2.

By proactively removing the MAX from scheduled service, we can reduce last-minute flight cancellations and unexpected disruptions to our Customers’ travel plans. We will proactively contact all Customers whose itineraries will be impacted by the revision to offer them maximum flexibility and re-accommodate them well in advance of their travel date. The revision will proactively remove roughly 100 daily flights from our schedule out of our total peak-day schedule of more than 4,000 daily flights.

We offer our apologies to our Customers impacted by this change, and we thank them for their continued patience.

Spirit Airlines Signs MoU for up to 100 A320neo Family Aircraft

Avianca Exchanges $475 mln in Bonds, Gets United Funding

Air Lease Places Two Airbus A321-200’s With Air Canada

Cessna Citation Excel, XLS Receive Garmin G5000 Certification

Southwest Airlines Schedule Revision and MAX Update

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