Tag: Santiago (Page 2 of 2)

BBAM Adds Up to 12 737-800 Boeing Converted Freighters

January 19, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and BBAM Limited Partnership today announced the lessor is expanding its 737-800 Boeing Converted Freighter fleet with six firm orders and six options. The agreement brings BBAM’s 737-800BCF orders and commitments to 15 and highlights the continued strength of the e-commerce and express cargo market.

“As we look ahead to expanding our cargo fleet, the 737-800 Boeing Converted Freighter provides the performance and efficiency our customers need,” said Steve Zissis, CEO of BBAM. “Adding these highly capable freighters to 276 Boeing airplanes in our managed fleet helps to further strengthen our leadership position in the marketplace.”

Based on the popular Next-Generation 737, the 737-800BCF is meeting customer demand for a newer-generation freighter that offers higher reliability and lower fuel consumption and operating costs per trip compared to other standard body freighters. Primarily used to carry express cargo on domestic or short-haul routes, the airplane is capable of carrying up to 23.9 tonnes (52,800 pounds) and flying up to 2,025 nautical miles (3,750 kilometers). Since entering service in 2018, the 737-800BCF has won more than 150 orders and commitments.

“BBAM is one of the industry’s leading full-service leasing companies and has built their reputation on smart investments. We are honored that BBAM has selected more 737-800BCFs, based on the success of our standard body freighters in their portfolio,” said Ihssane Mounir, Boeing’s senior vice president of Commercial Sales and Marketing. “The continued strong demand for the 737-800BCF demonstrates the critical role these converted freighters play in the growing express and e-commerce market.”

BBAM is the world’s largest dedicated manager of investments in leased commercial jet aircraft, providing over 200 airline customers in more than 50 countries with fleet and financing solutions over the last three decades. BBAM is the only manager in the aircraft leasing industry focused exclusively on generating investment returns for third-party investors. BBAM currently has more than $28 billion of assets under management and employs over 150 professionals at its headquarters in San Francisco and in additional offices in Tokyo, Singapore, Zurich, Dublin and Santiago. For more information about BBAM, please visit its website at www.bbam.com.

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As a top U.S. exporter, the company supports commercial and government customers in more than 150 countries and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

American Airlines Announces Additional Schedule Changes in Response to COVID-19

March 15, 2020 / WIL BALDWIN

American Airlines Group Inc. (NASDAQ: AAL) will implement a phased suspension of additional long-haul international flights from the U.S. starting on March 16. This suspension will last through May 6. This change is in response to decreased demand and changes to U.S. government travel restrictions due to coronavirus (COVID-19). The airline will:

Reduce international capacity by 75% year over year — from March 16 to May 6
Continue to operate one flight daily from Dallas-Fort Worth (DFW) to London (LHR), one flight daily from Miami (MIA) to LHR and three flights per week from DFW to Tokyo (NRT)
Continue short-haul international flying, which includes flights to Canada, Mexico, Caribbean, Central America and certain markets in the northern part of South America, as scheduled

In addition to the international changes, the airline anticipates its domestic capacity in April will be reduced by 20% compared to last year and May’s domestic capacity will be reduced by 30% on a year over year basis.

International Route Changes

By region, the new schedule changes include the following:

Asia, effective March 16

American will suspend all remaining flights to Asia, except for three flights per week from DFW to NRT

Australia and New Zealand, effective March 16

Suspending service from Los Angeles (LAX) to Auckland (AKL) effective March 16, which was slated to end seasonal flying on March 28
Suspending service from LAX to Sydney (SYD) effective March 16

Europe, phased suspension

American will continue to operate one flight daily from DFW to LHR and MIA to LHR
Suspending flights from New York (JFK), Boston (BOS), Chicago (ORD), and LAX to LHR gradually over the next seven days to reaccommodate passengers and crew
LHR, Dublin (DUB) and Manchester (MAN) flights from Charlotte (CLT), Philadelphia (PHL) and Phoenix (PHX) will be suspended faster, as these airports are not approved gateways by the U.S. Department of Homeland Security. Final eastbound flights from CLT, PHL and PHX will be on March 15; final westbound flights returning from LHR, DUB and MAN will depart March 16
Continued suspensions in other parts of Europe, as previously announced, including the delayed start of some seasonal routes as well as flights to and from Amsterdam (AMS), Barcelona (BCN), Frankfurt (FRA), Madrid (MAD) and Munich (MUC) Paris (CDG) and Zurich (ZRH) through early May, or later, based on guidance from the U.S. government and customer demand

South America, effective March 16

Suspending service from JFK and MIA to Rio de Janeiro (GIG) and Georgetown, Guyana (GEO)
Suspending service from DFW, JFK and MIA to São Paulo (GRU)
Suspending service from DFW and MIA to:
- Chile: Santiago (SCL)
- Colombia: Bogota (BOG)
- Ecuador: Guayaquil (GYE) and Quito (UIO)
- Peru: Lima (LIM)
Suspending service from MIA to:
- Brazil: Brasilia (BSB) and Manaus (MAO)
- Colombia: Barranquilla (BAQ), Cartagena (CTG), Cali (CLO), Medellin (MDE) and Pereira (PEI)

These capacity reductions assume no slot waivers are in place other than those previously granted. At airports where demand exceeds airfield and/or terminal capacity, access is governed by slots that grant airlines permission to take off and land at specific times. Given the decrease in demand related to COVID-19, American has requested temporary relief from this usage requirement — otherwise known as requesting a slot waiver — to better align capacity with demand without the risk of losing valuable takeoff and landing slots for the future. American will continue to review its network and make adjustments as needed if waivers are granted.

Chile’s SKY Orders 10 A321XLRs to Expand International Footprint

December 10, 2019 / WIL BALDWIN

SKY, a Chilean-based ultra-low-cost carrier, has signed a Purchase Agreement with Airbus for 10 A321XLRs. The airline will expand its international route network with the new aircraft.

The A321XLR is the next evolutionary step in the A320neo/A321neo Family, meeting market requirements for increased range and payload in a single-aisle aircraft. The A321XLR will deliver an unprecedented narrow-body airliner range of up to 4,700nm, with 30% lower fuel consumption per seat compared with previous-generation competitor jets, allowing airlines to expand networks by making new longer routes economically viable.

“This new aircraft fleet will allow us to expand our offer of international and wide-ranging routes, always under our successful low cost model and its extremely convenient ticket prices. Now passengers can enjoy new and very attractive destinations on the most modern airplanes in the market,” said Holger Paulmann, CEO of SKY.

Arturo Barreira, President of Airbus Latin America, said: “We are delighted that SKY has selected the A321XLR to further expand its fleet of all Airbus aircraft. The A321XLR will allow SKY to offer its customers new destinations, such as direct flights from Santiago in Chile to Miami in the U.S.”

According to the latest Airbus Global Market Forecast (GMF), Latin America will need 2,700 new aircraft in the next 20 years, more than double today’s fleet. Passenger traffic in Latin America has doubled since 2002 and is expected to continue growing over the next two decades. Specifically in Chile, traffic is expected to increase from 0.89 trips per capita to 2.26 trips in 2038.

In parallel to the growing fleet, according to Airbus’ latest GMF, there will be a need for 47,550 new pilots and 64,160 technicians to be trained over the next 20 years in Latin America. To cover this necessity SKY also selected Airbus as its flight training provider, making the airline the launch customer for the new Airbus Chile Training Centre. The centre will offer flight crew training for Chilean pilots and will include a full-flight A320 simulator.

SKY has been an Airbus customer since 2010 and became an all-Airbus operator in 2013. The airline’s fleet of 23 A320 Family aircraft serves national and international routes connecting Chile to Argentina, Brazil, Peru and Uruguay.

Airbus has sold 1,200 aircraft, has a backlog of more than 600 and more than 700 in operation throughout Latin America and the Caribbean, representing a 60% market share of the in-service fleet. Since 1994, Airbus has secured nearly 70% of net orders in the region.

Hilton Introduces Trio of New Hotel Brands to Spain’s Capital

October 27, 2019 / WIL BALDWIN

The trio includes:

Canopy by Hilton Madrid Castellana, first for Spain;
El Metropol Madrid, Curio Collection by Hilton, first for Madrid;
Atocha Hotel Madrid, Tapestry Collection by Hilton, first for Spain and first outside Americas

MADRID and MCLEAN, Va. – Hilton (NYSE: HLT) today announced the signing of three hotel franchise agreements with strategic investor partners, bringing three new brands to Madrid, of which two mark brand entries to the country. The addition of Canopy by Hilton Madrid Castellana; El Metropol Madrid, Curio Collection by Hilton; and Atocha Hotel Madrid, Tapestry Collection by Hilton represents a significant milestone for the global hospitality company, illustrating Hilton’s continued investment in Madrid as a premier tourist destination and its ambitions to further expand across Spain.

Patrick Fitzgibbon, senior vice president, development, EMEA, Hilton, said: “Spain has seen a surge in popularity, and Madrid is a particularly strong tourist market that has so much to offer. In 2018 the city welcomed a record-breaking 10 million visitors, making Madrid one of Europe’s most dynamic destinations for both business and leisure travellers. Responding to the increasing demand for great hotels combined with opportunities from world-class infrastructure investment and regeneration programmes, Hilton has expanded its portfolio to bring some of our most popular brands to Spain. Our new Madrid hotels will offer fantastic guest experiences and enrich communities.”

Canopy by Hilton Madrid Castellana

In partnership with Hotel Investment Partners (HIP), Hilton introduces its upper-upscale lifestyle brand, Canopy by Hilton, to Spain. HIP, Blackstone’s hotel investment platform, own the property and intend to invest €34 million in the hotel’s transformation, which will offer 311 guest rooms and multiple dining outlets, including a terrace restaurant overlooking Carlos Trias Bertran Square and a signature lobby café, Canopy Central. Expected to open in 2021, Canopy by Hilton Madrid Castellana is a perfect venue for guests looking to explore the capital. Situated close to the Paseo de la Castellana, one of the longest and widest avenues of Madrid, the hotel is near vibrant neighbourhood bars and restaurants, commercial buildings and international company headquarters, as well as Madrid’s world-famous Santiago Bernabéu Stadium, home of Real Madrid Football Club.

El Metropol Madrid, Curio Collection by Hilton

Joining a global portfolio of more than 70 one-of-a-kind hotels and resorts and located at the corner of Calle de la Montera and Gran Via, El Metropol Madrid, Curio Collection by Hilton is in the heart of Madrid’s historical town centre and close to the lively Puerta del Sol neighbourhood. With many rooms facing Gran Via, one of the city’s bustling streets with theatres, cinemas, shopping, restaurants and bars, guests can enjoy a stunning view of Madrid city life. Guests at the 93-room upper-upscale hotel will enjoy a range of facilities and amenities, including a rooftop bar with unbeatable city views. Its central location means many tourist attractions are within walking distance with easy access to Madrid’s metro network and connections to its business district. In partnership with owning company Montera 47, El Metropol Madrid is slated to make its debut in January 2021, joining existing Curio Collection hotels in Barcelona, Alicante, Malaga and Ibiza.

Atocha Hotel Madrid, Tapestry Collection by Hilton

Atocha Hotel Madrid, Tapestry Collection by Hilton joins a portfolio of hotels that offer guests unique style and an authentic connection to their destination. Brought to market by hotel operator Panoram Hotel Management, the 46-room hotel on Calle Atocha is just metres from Madrid Atocha railway station, the busiest in Spain, and is within walking distance of popular tourist attractions, including the Museo Reina Sofia, Prado Museum and the El Reitro Park. The first Tapestry Collection hotel to open in Spain and the brand’s first outside the Americas, Atocha Hotel Madrid will introduce the Tapestry Collection experience to Madrid locals and visitors alike. Amongst the amenities available, guests can select to stay in one of four Five Feet to Fitness rooms, a revolutionary in-room wellness concept created by Hilton allowing guests to work out in their guest room, with more than 11 pieces of fitness equipment and accessory options to choose from. The hotel is anticipated to open in the first quarter of 2020.

Hilton opened its first hotel in Madrid in 1953 and has since continued its commitment to investing in the city and supporting its growth as a leading tourist destination. Other Madrid properties include Hilton Madrid Airport (284 rooms), DoubleTree by Hilton Madrid Prado (61 rooms) and the 138-room Hampton by Hilton Madrid Alcobendas, located on Avenida de Fernando Alonso, which is set to open in January 2020.

Expansion on the Iberian Peninsula is a strategic focus for Hilton, and the company is growing faster in the region than ever before. It has signed a new Franchise or Management Agreement for a hotel in Spain every two months for the past two years, which represents more than 1,800 new keys. Hilton’s current Spanish portfolio of 12 hotels and resorts offers more than 2,000 hotel guest rooms and suites.

President Trump Bans Cuban Flights, Except for Havana

October 25, 2019 / WIL BALDWIN

WASHINGTON/HAVANA, Oct 25 (Reuters) – The U.S. government said on Friday it would bar U.S. airlines from flying to all destinations in Cuba besides Havana starting on Dec. 10 as the Trump administration boosts pressure on the Cuban government.

The U.S. Transportation Department said in a notice it was taking the action at the request of Secretary of State Mike Pompeo to “further the administration’s policy of strengthening the economic consequences to the Cuban regime for its ongoing repression of the Cuban people and its support for Nicolas Maduro in Venezuela.”

The move will bar U.S. air carrier flights to any of the nine international airports in Cuba other than Havana and impact about 8 flights a day.

The prohibition does not impact charter flights. There are no foreign air carriers providing direct scheduled flights between the United States and Cuba.

Cuban Foreign Minister Bruno Rodriguez said in a tweet that his country strongly condemned the move and that it “strengthened restrictions on U.S. travel to Cuba and its citizens’ freedoms.”

Rodriguez said sanctions would not force Cuba to make concessions to U.S. demands.

These flights carry almost exclusively Cuban Americans visiting home at a time when the Trump administration has drastically reduced visas for Cubans visiting the United States. Some 500,000 Cuban Americans traveled to Cuba last year.

The new measure takes effect soon before Christmas and New Year’s when Cuban Americans flock to the island for family reunions.

Further restrictions on Americans traveling to Cuba would be aimed at squeezing the island economically and expanding Trump’s steady rollback of the historic opening to Cuba by Trump’s predecessor, Barack Obama. The reversal, along with his pressure on Venezuela, has gone over well among Cuban Americans in South Florida, a key voting bloc in Trump’s 2020 re-election campaign.

Under Obama, the United States reintroduced U.S. airline service to Cuba in 2016. Pompeo said on Twitter on Friday that “this action will prevent the Castro regime from profiting from U.S. air travel and using the revenues to repress the Cuban people.”

According to U.S. officials, JetBlue Airways Corp flies to three destinations in Cuba in addition to Havana from Fort Lauderdale — Camaguey, Holguin and Santa Clara — and American Airlines flies to five Cuban cities beyond Havana from Miami — Camaguey, Holguin, Santa Clara, Santiago de Cuba and Matanzas/Varadero.

American Airlines said it is “reviewing the announcement and “will continue to comply with federal law, work with the administration, and update our policies and procedures regarding travel to Cuba as necessary.”

Jet Blue said it will “operate in full compliance with the new policy concerning scheduled air service between the United States and Cuba. We are beginning to work with our various government and commercial partners to understand the full impact of this change on our customers and operations.”

(Reporting by David Shepardson; additional reporting by Diane Bartz in Washington and Allison Lampert in Montreal; Editing by Chris Reese and Sandra Maler)

Air Lease Places 3 New Airbus A321-200neo’s with Sky Airline

June 18, 2019 / WIL BALDWIN

PARIS, France, June 18, 2019 – Today Air Lease Corporation (NYSE: AL; “ALC”) announced long-term lease placements with Sky Airline (Chile) for three new Airbus A321-200neo aircraft. Scheduled to deliver to Sky starting in 2020 through 2021, the three new A321-200neos will deliver from ALC’s order book with Airbus and join three A320-200neos currently on lease to the airline from the Lessor.

“Sky Airline is a key ALC customer in the Latin American market and we are pleased to be the first to place the A321-200neo in the airline’s growing narrowbody fleet,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “The A321-200neo will complement Sky’s current highly competitive fleet with a new standard of fuel-efficiency and passenger comfort.”

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 Air Lease Corporation (NYSE: AL)

ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC’s website at www.airleasecorp.com.

About Sky Airline

Sky Airline is a leading low-cost airline based in Santiago, Chile. The company flies to more than 20 destinations in Chile and South America and operates a modern fleet of Airbus A320 and A320neo family aircraft. In 2018, Sky Airline was named the best low-cost airline in South America by Skytrax.

Avianca Brazil Gives Up 18 Planes, Cancels 1,045 Flights

April 22, 2019 / WIL BALDWIN

RIO DE JANEIRO (AP) — Avianca Brasil canceled more than 1,045 domestic flights this week because it has to return 18 aircraft to leasing agencies.

Brazil’s National Aviation Agency said the planes needed to be returned Monday to avoid affecting Holy Week holiday passengers. Customers can either get refunds for canceled flights or rebook through partner airlines.

Avianca Brasil declined to say how many planes it has left. But the G1 news portal reports that the airline has just seven planes still in its fleet.

On April 1, the airline canceled several international routes from Sao Paulo to New York, Miami and Santiago, Chile.

Avianca Brasil filed for bankruptcy in December after failing to pay leases on its aircraft. The airline, formerly known as Ocean Air, has licensed the name Avianca since 2010 from Colombian carrier Avianca Holdings SA. They are separate companies with the same owners: brothers German and Jose Efromovich. The latter is being investigated for allegedly failing to pay airport fees in Salvador airport in northeastern Brazil.

A company representative from Avianca’s headquarters in Colombia stressed that the Brazilian company is independent from Avianca Holdings group, both operationally and financially. The company said in a statement that flights operated by Avianca Holdings SA from hubs in Bogota and Lima, Peru, to destinations in Brazil will not be affected by the Avianca Brasil cancellations.

Airbus A320 Neo of Avianca at GRU Airport – Guarulhos International Airport, Sao Paulo, Brazil – 2017

LATAM Airlines Posts Steep Third-Quarter Profit Fall

November 21, 2018 / WIL BALDWIN

SANTIAGO (Reuters) – LATAM Airlines (LTM.SN), the biggest airline group in Latin America, reported a steep fall in third-quarter profit due to lower passenger demand in Argentina and Brazil as well as higher fuel prices and competition from low-cost airlines.

LATAM reported a net profit of $53 million for the quarter, down from $160 million a year earlier, according to a securities filing.

But it said it was maintaining its guidance for the year, expecting an overall operating margin for 2018 of between 6.5 and 8 percent. It is focused on cost-cutting to offset higher expenses.

“We are transporting more passengers with a leaner organization,” a company executive told analysts on a conference call.

Morgan Stanley raised its target price for LATAM shares traded in the New York stock exchange to $9 following the earnings release, from a previous target price of $8.80.

Shares were up 3.4 percent at $9.26 on Wednesday morning.

Demand in the quarter slowed in Brazil due to a weaker local currency, and demand fell significantly in Argentina, where the local currency faced an abrupt devaluation during the quarter, reducing passengers’ purchasing power.

“We carried more passengers in all our markets except Argentina, where we cut capacity this year,” an executive said.

Lower demand and increased fuel expenses due to higher oil prices has slashed profits across regional airlines. One of LATAM’s biggest competitors, Brazil’s Gol Linhas Aereas Inteligentes SA (GOLL4.SA), reported a loss of $110 million during the quarter.

Market conditions prompted LATAM to renegotiate commitments for future aircraft purchases, achieving a reduction of $2.3 billion in fleet expenses through 2021, the company said.

The airline will also boost the number of available seats in some of its aircraft by 3 percent as improving utilization and seat count may allow it to grow with fewer aircraft.

Revenue declined by 5 percent to $2.5 billion in the quarter compared with the same period in 2017.

In the quarter, LATAM spent the equivalent of 30 percent of its revenue on fuel, compared with 21 percent a year earlier.

In comparison, Gol spent 37 percent of its revenue on fuel in the same quarter, up from 26 percent a year earlier.

(Reporting by Antonio de la Jara in Santiago and Marcelo Rochabrun in Sao Paulo; Writing by Marcelo Rochabrun; Editing by Bernadette Baum)