Alstom, a global leader in integrated solutions for sustainable mobility, and Snam, one of the world’s leading energy infrastructure companies, have signed a five-year agreement to develop hydrogen trains in Italy.
The agreement, after the conclusion of the first phase dedicated to feasibility studies planned in Autumn, aims to develop, already at the beginning of 2021, railway mobility projects including both hydrogen-powered trains and the related technological infrastructure, as well as management and maintenance services.
As part of the agreement, Alstom will manufacture and maintain newly built or converted hydrogen trains, while Snam will develop the infrastructures for production, transport and refuelling.
This co-operation stems from the joint commitment of the two companies on hydrogen: Alstom has launched the Coradia iLint, the first fuel cell train in the world, which has successfully been in service for one year and half on a regional route in Germany, while Snam has been one of the first companies in the world to experiment a 10% hydrogen injection into the natural gas transportation network.
Singapore, 12 February, 2020 – World number one regional aircraft manufacturer ATR announce that Singapore based lessor Avation PLC has converted two Purchase Rights into firm orders for two ATR 72-600 aircraft. The aircraft will be leased to Bangladeshi airline US-Bangla, the biggest private airline in Bangladesh and will support the expansion of the airline’s turboprop fleet by increasing the number of ATR aircraft from six to eight. In addition, Avation has further acquired an additional two ATR 72-600 purchase rights to replace those that were exercised.
This development will see the airline expand its operations using the most efficient and eco-responsible aircraft on the market, which burns 40% less fuel and emits 40% less CO2 than a similarly-sized regional jet. With the lowest seat mile cost in its market segment, the ATR 72-600 is the only profitable regional aircraft in low fares environments, and offers unmatched comfort in a modern, spacious cabin. Since incorporating their first ATR, the market response has been extremely good on their domestic network and their regional flights are supporting the growing Bangladeshi economy. Increasing the size of their ATR fleet also allows US-Bangla to increase their frequency on certain trunk routes, offering more choice to passengers.
Mohammed Abdullah Al Mamun, Managing Director of US-Bangla said: “Regional connectivity is essential in Bangladesh and the region. We are delighted that we can offer our passengers the chance to access new opportunities throughout the country. Operating the ATR 72-600 makes total sense in Bangladesh, we have received very good feedback from passengers and are very satisfied with the reliability and comfort of these aircraft. With the -600 series’ modern and comfortable cabin, featuring the latest 18” wide passenger seats, we are able to give our passengers a premium experience, which is essential for US Bangla.”
Executive Chairman of Avation, Jeff Chatfield, commented: “The economics of the ATR 72-600, its wide customer base and proven environmental credentials make it an extremely attractive asset for both lessors and airlines operating in all types of environments. We are glad to foster our partnership with US-Bangla and see them expand their regional footprint and develop connectivity in Bangladesh.”
Stefano Bortoli, Chief Executive Officer of ATR, remarked: “It is pleasing to have two satisfied customers at the same moment. US-Bangla are continuing to increase their fleet size, showing the unrivalled performance of the ATR in providing regional connectivity throughout Bangladesh. We continually develop our product to ensure that operators and clients are satisfied. Aircraft with high asset values are essential for lessors. So when Avation, with its market acumen and track record of placing aircraft, continues to order the ATR we know that our product is working for our customers.”
US-Bangla use their regional fleet to connect all of Bangladesh and feed their international network from Dhaka. The value of regional connectivity is proven, with a 10% increase in regional flights leading to a six percent increase in regional GDP and an eight percent increase in Foreign Direct Investment.
SINGAPORE, Feb 11 (Reuters) – Boeing Co said on Tuesday that lessor BBAM had ordered three 737-800 converted freighters to serve the growing e-commerce market and express sectors of the air cargo market.
The planes to be converted will come from BBAM’s existing fleet. “This agreement shows how we can serve our customers by delivering efficient and reliable airplanes and a portfolio of services that extracts value throughout the life of those jets,” said Ihssane Mounir, Boeing’s senior vice president of Commercial Sales and Marketing.
Boeing also said it would inaugurate a 737-800 passenger to freighter conversion line in China this summer.
The new line will be at Guangzhou Aircraft Maintenance Engineering Company Ltd (GAMECO), a joint venture between China Southern Airlines Co Ltd and Hutchison Whampoa.
(Reporting by Jamie Freed; Editing by Himani Sarkar)
Genesee & Wyoming Inc. (G&W) today announced the completion of its previously announced sale to affiliates of Brookfield Infrastructure and GIC.
Under the terms of the sale, each issued and outstanding share of G&W common stock converted into the right to receive $112 in cash. As a result of the completion of the sale, G&W’s common stock ceased trading on the NYSE prior to market open today and will no longer be listed for trading on the NYSE.
“This transaction is an excellent outcome for all G&W stakeholders,” said Jack Hellmann, Chief Executive Officer of G&W. “For our customers, employees, and Class I partners, the long-term investment horizon of Brookfield and GIC is perfectly aligned with the long lives of G&W railroad assets. We look forward to building on G&W’s track record of safety, service excellence and commercial growth as we become an important component of a portfolio of global infrastructure assets.”
About Genesee & Wyoming
G&W owns or leases 119 freight railroads organized in locally managed operating regions with 8,000 employees serving 3,000 customers.
G&W’s six North American regions serve 42 U.S. states and four Canadian provinces and include 113 short line and regional freight railroads with more than 13,000 track-miles.
G&W’s Australia Region serves New South Wales, the Northern Territory and South Australia and operates the 1,400-mile Tarcoola-to-Darwin rail line. The Australia Region is 51.1% owned by G&W and 48.9% owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
G&W’s UK/Europe Region includes the U.K.’s largest rail maritime intermodal operator and second-largest freight rail provider, as well as regional rail services in Continental Europe.
G&W subsidiaries and joint ventures also provide rail service at more than 40 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, contract coal loading, and industrial railcar switching and repair. For more information, please visit www.gwrr.com.
About Brookfield Infrastructure
Brookfield Infrastructure Partners is a leading global infrastructure company that owns and operates high quality, long-life assets in the utilities, transport, energy and data infrastructure sectors across North and South America, Asia Pacific and Europe. We are focused on assets that generate stable cash flows and require minimal maintenance capital expenditures. Brookfield Infrastructure Partners is listed on the New York and Toronto stock exchanges. Further information is available at www.brookfieldinfrastructure.com.
Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a leading global alternative asset manager with over $500 billion of assets under management. For more information, go to www.brookfield.com.
About GIC
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In infrastructure, GIC’s primary strategy is to invest directly in operating assets with a high degree of cash flow visibility and which provide a hedge against inflation. GIC has investments in over 40 countries. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.
PARIS (Reuters) – American Airlines is edging towards a deal with Airbus to buy up to 50 newly launched A321XLR extended-range narrow-body aircraft including some converted from existing orders of other models, people familiar with the matter said.
Airbus and American Airlines declined comment.
The people said the order, if confirmed, could be announced to coincide with the Paris Airshow, though officials from the airline were not expected to attend the show in person.
One of the people said that American Airlines was likely to include the world’s longest-range single-aisle jet in its fleet, but the timing of a decision remained unclear.
(Reporting by Tim Hepher, Editing by Eric M. Johnson)
