Tag: Europe (Page 3 of 25)

Hilton Plans to More Than Quadruple its Presence in Saudi Arabia

August 13, 2023 / WIL BALDWIN

Riyadh, Saudi Arabia – As Saudi Arabia continues to fulfill its vision of becoming a world leader for international travel and tourism, Hilton (NYSE: HLT) has announced plans to open over 50 new hotels across 10 of its brands, making the country the company’s largest pipeline market in Europe, the Middle East and Africa (EMEA). Hilton has accelerated its growth strategy in Saudi Arabia in recent years, announcing multiple signings as the company works towards its plans to increase its portfolio to more than 75 trading properties across the country.

The latest of these signings include Conrad Hotels & Resorts entry into the heart of the Saudi capital with Conrad Riyadh Laysen Valley, which is set to open in 2025. Hilton’s growth continues in secondary cities, with the recent signings in Abha, Hilton The Point Residences and Canopy by Hilton The Point, both due to open in 2026.

Conrad Riyadh Laysen Valley

In partnership with Mashareq Investment, Hilton plans to bring its second Conrad Hotels & Resorts property to Saudi Arabia. The 170-key Conrad Riyadh Laysen Valley will bring the brand’s bold design, impactful experiences, and curated contemporary art to inspire travellers throughout their stay. Featuring world-class amenities, purposeful service and guest facilities, the modern, luxury hotel is expected to open in 2025 opposite the city’s diplomatic quarter at the heart of the Laysen Valley development, one of Riyadh’s most prominent high-end, mixed-use real estate projects.

Latest Hotel Signings for Saudi Arabia include:

Waldorf Astoria Riyadh Diriyah – the iconic 200-room hotel, expected to open in 2028, will be located in a prime position within Diriyah, surrounded by high-end restaurants, luxury retail stores, residences, art galleries and museums.
Wadi Hanifah, LXR Hotels & Resorts – this secluded retreat, expected to open in 2026, will house 80 immaculately designed guest rooms and enchanting villas, offering Diriyah visitors a lush escape of tranquility and relaxation.
Canopy by Hilton Al Khobar Ajdan Waterfront – The 120-guest room hotel, expected to open in 2026, is ideally located on the corniche, adjacent to Boulevard Ajdan, the high-end shopping and entertainment destination.
DoubleTree by Hilton Jeddah Al Andalus Mall – the 164–guest room hotel attached to the Jeddah Al Andalus Mall is due to open next year.
DoubleTree by Hilton Jeddah Al Marwah – this 178-guest room hotel will be located within close proximity to the King Abdulaziz International Airport, and on the corner of the bustling Hira Street.
Hampton by Hilton NEOM Community – expected to open later this year, Hampton by Hilton NEOM Community will feature 201 guest rooms.
Hampton by Hilton Hafr al-Batin – will feature 150 guest rooms and is due to open in 2026.

Hilton currently operates 16 hotels in Saudi Arabia, including Waldorf Astoria Jeddah – Qasr Al Sharq, Conrad Makkah, and Hilton Riyadh Hotel & Residences. Its development pipeline of more than 50 properties includes the introduction of new brands like LXR Hotels & Resorts, Canopy by Hilton, Embassy Suites by Hilton, and Hampton by Hilton.

JetBlue and Air Serbia Announce New Codeshare Agreement

August 7, 2023 / WIL BALDWIN

New York, N.Y., BUSINESS WIRE – JetBlue Airlines (NASDAQ: JBLU) and Air Serbia today announced a new partnership making Air Serbia-operated flights available on JetBlue.com with a new codeshare agreement.

Beginning July 26, 2023, JetBlue placed its “B6” airline code on Air Serbia-operated nonstop flights from New York’s John F. Kennedy International Airport (JFK) and Chicago’s O’Hare International Airport (ORD) to Belgrade’s Nikola Tesla Airport (BEG). Additionally, JetBlue plans on placing its “B6” code on other flights between Belgrade and points in Europe in the near future. Air Serbia plans to add their “JU” airline code to 25 destinations throughout the JetBlue network.

JetBlue is New York’s Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando and San Juan. JetBlue carries customers to more than 100 destinations throughout the United States, Latin America, Caribbean, Canada, United Kingdom and France. For more information and the best fares, visit jetblue.com.

A.P. Moller – Maersk reports robust Q2 financial results in difficult market

August 7, 2023 / WIL BALDWIN

Copenhagen, Denmark – A.P. Moller – Maersk (OTC: AMKBY) reports a second quarter of 2023 ahead of expectations, while the ongoing market normalisation continued through the quarter leading to lower volumes and lower rates. Revenue stood at USD 13.0bn compared to USD 21.7bn in Q2 2022 while profitability was strong at 12.4% although significantly lower compared to the extraordinarily strong Q2 2022. Reflecting the strong first half performance, Maersk raises its financial outlook and now expects underlying EBITDA of USD 9.5 – 11.0bn (previously USD 8.0 – 11.0bn), underlying EBIT of USD 3.5 – 5.0bn (previously USD 2.0 – 5.0bn) despite a weakened second half market outlook.

Ocean revenue decreased to USD 8.7bn from USD 17.4bn driven by a decrease in freight rates and loaded volumes. While the volume and rate environment stabilized at a lower level during Q2, Ocean continued to be impacted by lower demand, driven by a significant inventory correction in particular in North America and Europe. A strong cost management allowed to partially offset the top line impact on financial performance in Ocean.

Revenue in Logistics & Services was USD 3.4bn compared to USD 3.5bn. The segment was also impacted by lower volumes due to the continued destocking and weaker consumer demand, as well as low rates. As in Ocean, market demand is expected to continue to be subdued as long as the inventory correction is ongoing.

Revenue in Terminals decreased to USD 950m from USD 1.1bn and was influenced by the normalisation of storage revenue and lower volumes amid lower consumer demand and less congestion in North America. Strong cost control contributed to a continued solid financial performance.

Voyager Space and Airbus Announce Joint Venture to Build and Operate Starlab

August 2, 2023 / WIL BALDWIN

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.

Lufthansa and HCS Group sign Letter of Intent on production & supply of Sustainable Aviation Fuel Made in Germany

August 1, 2023 / WIL BALDWIN

The Lufthansa Group (OTC: DLAKY) and the HCS Group have signed a Letter of Intent (LoI) to partner on the production and supply of Sustainable Aviation Fuel (SAF). From the beginning of 2026, the HCS Group could supply the Lufthansa Group with SAF produced in the so-called Alcohol-to-Jet (AtJ) technology. The SAF, made from biogenic residues from agriculture and forestry, will be produced at the HCS Group production site in Speyer, operated by Haltermann Carless. SAF is a key element for more sustainable flying and thus for decarbonization in aviation.

With its engagement in the HCS Group the Lufthansa Group could support SAF ‘Made in Germany’, compliant with Europe’s Renewable Energy Directive RED II. The production site is logistically favorably located near the Lufthansa Group’s Frankfurt hub. The HCS Group offers sustainable hydrocarbon solutions to its customers. With the planned initial production volume of 60,000 metric tons of SAF per year, the chemical company aims to become the first large-scale producer of biogenic SAF in Germany.

The LoI with the HCS Group underpins the Lufthansa Group’s goal of driving forward the market ramp-up and use of Sustainable Aviation Fuels as a core element of its sustainability strategy. Today, the Lufthansa Group is one of the five largest SAF customers worldwide and is investing up to USD 250 million in the procurement of SAF for the coming years. In addition, the Lufthansa Group is working on numerous projects worldwide to increase SAF availability and is continuously examining further options for long-term purchase agreements.

Finnair redeems its hybrid bond issued in 2020

August 1, 2023 / WIL BALDWIN

Finnair Plc (OTC: FNNNF) announces that it will exercise its right to redeem its EUR 200 million capital securities issued on 3 September 2020 (ISIN: FI4000441860) (the “Capital Securities“).

The Capital Securities will be redeemed in full on 1 September 2023 (the “Redemption Date“) in accordance with the terms and conditions of the Capital Securities. On the Redemption Date, the Company will pay to the holders of Capital Securities a redemption price equal to the principal amount of the note together with any accrued interest to, but excluding, the Redemption Date.

This notice of redemption is irrevocable and is given to the calculation agent and holders of the Capital Securities in accordance with the terms and conditions of the Capital Securities.

Canadian Government orders 4 new Airbus A330 MRTT’s

July 27, 2023 / WIL BALDWIN

Getafe, Spain / Ottawa, Canada – 25 July 2023 – The Government of Canada has awarded Airbus (OTC: EADSY) Defence and Space with a contract for four newly-built Airbus A330 Multi Role Tanker Transport aircraft (MRTT) and for the conversion of five used A330-200s in a quest to strengthen Canada’s continental defence capabilities. The current contract has an order value of approximately CAD $3 billion or 2.1€ billion (excluding taxes).

Known as the Strategic Tanker Transport Capability (STTC), this new fleet of aircraft will replace the ageing CC-150 Polaris (A310 MRTT), operated by the Royal Canadian Air Force (RCAF). The existing A310 fleet is being used to perform air-to-air refuelling operations, military and personnel and cargo airlift, medical evacuations, as well as strategic transport of Government of Canada officials.

The newly-built A330-200s will be assembled at the A330 aircraft Final Assembly Line in Toulouse, France. Scheduled to enter into conversion at A330 MRTT facilities in Getafe, Spain, in mid-2025, the first MRTT will be delivered to the RCAF in 2027.

Under the agreement, the A330 MRTTs will be equipped with both the hose and drogue and a boom as refuelling options, cybersecurity solutions and countermeasures. All of them could be installed with the also included Airbus Medical Evacuation kit solution, consisting of 2 Intensive Care Units and additional stretchers.

The contract covers a full suite of training services including the most advanced training devices such as the Full Flight Simulator to prepare and maintain crew readiness as part of the modernisation of the Canadian Armed Forces’ air operational training infrastructure.

Following an open procurement process, in April 2021, Airbus was selected as the only qualified supplier for the CC-150 tanker replacement. With 76 orders from 15 customers and able to carry up to 300 troops, the A330 MRTT accumulates 90 percent market share outside the U.S.A. and more than 270,000 flight hours. As a mature platform, the aircraft has been proven in combat in theatres of operations like the Middle East and the Eastern Flank in Europe, with interoperability, mission success and availability rates as highlights of its performance.

Alstom and RAILPOOL sign a contract for 50 Traxx Universal locomotives

July 24, 2023 / WIL BALDWIN

July 24, 2023 – Alstom (OTC: ALSMY), global leader in smart and sustainable mobility, and RAILPOOL, one of Europe’s leading rail vehicle leasing companies, have signed a contract for 50 Traxx Universal multi-purpose locomotives. The contract is valued at up to 260 million euro.

The Traxx Universal multi-purpose locomotives can be operated for freight and passenger corridor services. Characterised by both high reliability and flexibility in combination with an optimised power consumption, the locomotives are a proven solution for efficient cross-border operations. Extended maintenance intervals allow for less interventions to ease operational planning, reduce costs and increase availability. The locomotives will cover operations in eight countries, namely Germany, Austria, Switzerland, France, Italy, Belgium, Luxemburg and Poland.

The engineering of the locomotives will be done at the Alstom site in Mannheim, Germany, while final assembly is planned to take place in Kassel, Germany. Other sites involved are Wroclaw, Poland (carbody shell production), Siegen, Germany (bogies production), and Zurich, Switzerland (project management).

Virgin Australia and All Nippon Airways launch expanded partnership

July 23, 2023 / WIL BALDWIN

July 2023 – Virgin Australia and Japan’s largest airline, ANA, All Nippon Airways, have today announced a significantly expanded partnership to include increased levels of codeshare co-operation in addition to a series of member loyalty benefits and seamless travel across both carriers’ networks.

From today, Velocity Frequent Flyer members can earn Points and Status Credits when travelling on ANA operated flights across more than 130 destinations in the global ANA network including Japan, Asia, North America and Europe.

For the first time, guests can also book airfares on ANA operated flights between Australia and Japan at virginaustralia.com.

The announcement follows the launch of Virgin Australia’s inaugural service between Cairns and Tokyo (Haneda) last month. The airline’s partnership with ANA will unlock benefits across 12 domestic connections for travellers within Japan, including Sapporo, Fukuoka, Hiroshima, Osaka-Itami, Kochi, Osaka-Kansai, Kumamoto, Nagoya, Nagasaki, Oita, Okinawa and Miyazaki.

Cabo Verde Airlines Debuts Its First Boeing 737 MAX

July 20, 2023 / WIL BALDWIN

Praia, Cape Verde, July 20, 2023 – Boeing [NYSE: BA] and Cabo Verde Airlines today celebrated the delivery of the airline’s first fuel-efficient 737 MAX jet with a special event at its home base with officials and employees. As part of its new “take-off” rebranding, the airline’s 737-8 will reconnect the Cape Verdean diaspora and boost tourism for the island nation from Africa, Europe, North America and South America.

Cabo Verde Airlines connects four continents with non-stop flights from its hubs in Praia and Sal. The 737-8 is part of the airline’s new “take-off” relaunch strategy. It aims to renew its fleet and expand its network to previously operated routes following the pandemic.

The 737 MAX airplane family delivers enhanced efficiency, improved environmental performance and increased passenger comfort to the single-aisle market. Powered by CFM International LEAP-1B engines and advanced technology winglets, the 737 MAX reduces fuel use and emissions by 20% compared to airplanes it replaces.

Conrad Riyadh Laysen Valley

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