Tag: flagship (Page 3 of 3)

Bombardier Delivers Global 7500 to Racing Legend Niki Lauda

April 1, 2019 / WIL BALDWIN

Bombardier announced today that it delivered its first European-based Global 7500 aircraft to long-time Bombardier customer, Niki Lauda, as production and completions of the award-winning business jet continue to ramp up as planned. Bombardier is on track to deliver between 15 and 20 Global 7500 aircraft in 2019.

Long-time Bombardier customer and F1 World Champion takes delivery of the first European-based Global 7500 aircraft
Production and completions ramp up for Global 7500 jets proceeding as planned
The Global 7500 aircraft recently completed the world’s longest-range business jet flight in history and broke the city pair speed record between LA and NYC*
Winner of the 2019 Aviation Week Grand Laureate Award, the Global 7500 aircraft offers Bombardier’s signature smooth ride and a spaciousness that is unique among business jets

“We are thrilled to deliver our flagship Global 7500 business jet to Niki Lauda, our esteemed customer for many years,” said David Coleal, President, Bombardier Business Aircraft. “The Global 7500 aircraft is simply the best business jet on the market. It sets the standard by which all other aircraft in private aviation will be measured, demonstrated by the prestigious design and aviation awards it has garnered. The Global 7500 aircraft is the crown jewel of the industry.”

“I have enjoyed watching the evolution and growth of the Global Aircraft program. I have always been impressed with the expertise, craftsmanship and innovation that go into building every Global business jet,” said Niki Lauda. “The Global 7500 aircraft is the culmination of all the knowledge Bombardier teams have gained over the years and I look forward to experiencing the range, speed and comfort this jet has to offer.”

The Global 7500 jet is the latest in a series of Bombardier business aircraft that Mr. Lauda has owned and piloted during his career as an aviator. Previously, he operated a Global 6000, Global 5000 and Challenger 300 jet as his private aircraft.

Since its entry-into-service, the Global 7500 aircraft has unequivocally proven itself to be the highest-performing aircraft in the industry. The Global 7500 business jet has a top speed of Mach 0.925 and recently flew from Singapore to Tucson, completing a record-setting 8,152 nautical mile flight—the longest-range flight in business aviation history. In addition, it also recently broke the city pair speed record between Los Angeles and New York. The Global 7500 aircraft continues to assert its position as the leader in the business jet market.

The Global 7500 aircraft offers Bombardier’s signature smooth ride and a spaciousness that is unique among business jets. With its award-winning bespoke interior featuring a full-size kitchen and four true living spaces, the Global 7500 jet offers the ultimate in-flight experience. Setting the benchmark for the most exceptional cabin interior, the Global 7500 aircraft offers the most innovative features: Bombardier’s patented Nuage seat, meticulously designed for maximum comfort and the revolutionary nice Touch cabin management system (CMS), a new way to connect with the Global 7500 aircraft cabin through the Bombardier Touch dial, featuring business aviation’s first application of an OLED display.

About Bombardier

With over 68,000 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Alitalia Rescue at Risk as Suitors Set Conditions

March 13, 2019 / WIL BALDWIN

ROME (Reuters) – Delta Air Lines and easyJet have set strict conditions for investing in Alitalia that could jeopardise a government-led plan to rescue the troubled Italian airline, a source close to the matter said.

Alitalia was put under special administration in 2017 after workers rejected the latest in a long line of rescue plans.

Italy’s populist government, which has made the re-launch of the flagship carrier one of its priorities, is sponsoring a plan that would see state-owned railway Ferrovie inject fresh funds and revamp the carrier together with industrial partners.

Delta and easyJet, which have expressed interest in Alitalia, are in talks with Ferrovie, but the three investors do not see eye to eye on the structure of the deal.

Without an industrial partner fully on board, Alitalia could soon find itself in trouble since neither Ferrovie nor the state have the skills to run the carrier, the source said.

EasyJet has said several times it is interested in Alitalia’s short-haul operations and positions at primary airports, adding the alliance should be commercially viable.

The British low-cost carrier would be open to taking a stake of 15 percent in the Italian airline but only if it wins control of certain Alitalia assets, the source said.

That condition has irritated the three special commissioners in charge of the airline, who fear it could lead to a break-up of the company. The administrators have the power to decide on the offers.

At the same time Delta is also planning to take a 15 percent stake, spending around 100 million euros in the proposed 900 million euro (773.6 million pounds) rescue plan, but does not want to inject more than that, the source said.

A participation of 30 percent or less by the industrial partners, compared with a stake of around 40 percent Ferrovie was counting on, would force the government to find additional investors, probably among state-controlled companies, a second source said.

Ferrovie is expected to take a stake of between 30 and 49 percent in the new carrier, the second source said, making a full involvement of Delta and easyJet crucial.

According to Italian newspaper Il Messaggero, Ferrovie CEO Gianfranco Battisti will fly to Atlanta in the coming days to try to convince Delta’s CEO Ed Bastian to pump more money into the rescue plan.

Ferrovie, easyJet declined to comment on the issue, while Delta was not immediately available for comment.

Ferrovie is racing against the clock to meet a March 31 deadline set by the Italian government to present a rescue plan for Alitalia.

Should that deadline be missed, it would jeopardise the repayment of 900 million euro state loan to the airline, which must take place by the end of June.

(By Giselda Vagnoni. Additional reporting by Francesca Landini in Milan, Alistair Smout in London, Tracy Rucinski in Chicago, Writing by Francesca Landini; Editing by Keith Weir)

Cathay Pacific in Talks to Buy Stake in HK Express Airways

March 5, 2019 / WIL BALDWIN

HONG KONG/SINGAPORE (Reuters) – Hong Kong flagship carrier Cathay Pacific Airways Ltd said on Tuesday it is in “active discussions” about an acquisition involving budget airline Hong Kong Express Airways Ltd, although an agreement has yet to be reached.

Such a deal would give Cathay exposure to the growing budget-travel market at a time when a lack of slots at Hong Kong International Airport has constrained its ability to follow peers like Singapore Airlines Ltd and Qantas Airways Ltd and set up its own budget brand.

The Hong Kong carrier has instead shifted some destinations from its main brand to its regional carrier, Cathay Dragon, as part of a transformation plan designed to cut costs and increase revenue. It has ordered 32 Airbus SE A321neos for Cathay Dragon.

Cathay said it had decided to go public about the discussions in response to media reports suggesting it may be in talks to acquire shares in Hong Kong Express Airways Ltd and full-service sister carrier Hong Kong Airlines Ltd from cash-strapped Chinese conglomerate HNA Group Co Ltd.

It did not detail the potential value of the transaction, nor the size of the stake it would hold. It said it would issue an additional statement when appropriate.

An analyst last year estimated to Reuters that HK Express could be worth about $300 million.

HNA and HK Express did not immediately respond to a request for comment.

A person with knowledge of the matter said the companies appeared close to reaching an agreement and noted Cathay’s parent Swire Pacific Ltd had historically taken majority stakes when making investments.

Cathay is not interested in Hong Kong Airlines because it has both similar routes and full-service positioning, the person said.

A second person with knowledge of the matter said Cathay had signed an exclusivity period for discussion but other parties remained interested in HK Express if a deal could not be reached.

Both sources spoke on the condition of anonymity as discussions are confidential.

ANTITRUST

Given Cathay’s dominance of Hong Kong’s aviation market, a deal could attract scrutiny from the competition regulator.

Some analysts have also expressed doubts about the likely benefits of any deal. Daiwa analyst Kelvin Lau said he did not see much value from the acquisition as the two airlines flew similar routes, but also because Cathay would need to undertake significant reform to add a budget wing.

Jefferies analyst Andrew Lee however said in a note to clients it would be “positive for Cathay Pacific” as it would give the airline greater access to a different passenger segment in the low-cost market.

FLYING HIGH

News of Cathay’s interest in HK Express comes just weeks after Hong Kong’s flagship carrier projected its annual profit at more than double analyst estimates, sending its shares surging nearly 9 percent.

Shares of Cathay have risen more than 19 percent so far this year, compared with an 8 percent fall in 2018. The airline’s shares jumped more than 3 percent on Tuesday morning.

Cathay has faced repeated questions from investors over the last few years about its failure to set up a budget carrier.

Chief Executive Rupert Hogg has said it would be difficult to do so until a third runway was completed at Hong Kong International Airport in 2024, opening up more slots.

“Our home-based airport is full at the moment, or largely full, and so it’s not a perfect place to develop a model from scratch,” he told CAPA Centre for Aviation last May.

HK Express operates a fleet of 25 A320 family aircraft to regional destinations around Asia, according to plane tracking website FlightRadar24.

Embattled HNA Group is more than a year into the process of unwinding a $50 billion acquisition spree that at its peak netted the company stakes in banks, fund managers, hotels, property and airlines, among other assets.

(Reporting by Donny Kwok in Hong Kong and Jamie Freed in Singapore; Additional reporting by Kane Wu in Hong Kong; Editing by Anne Marie Roantree and Stephen Coates)

Bombardier Delivers Global 7500 to Racing Legend Niki Lauda

About Bombardier

Alitalia Rescue at Risk as Suitors Set Conditions

Cathay Pacific in Talks to Buy Stake in HK Express Airways

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