Tag: 2019 (Page 4 of 8)

Hyatt Reports Third-Quarter 2019 Results

November 2, 2019 / WIL BALDWIN

Strong Net Rooms Growth Fuels Nearly 11% Increase in Management and Franchise Fees

CHICAGO (October 30, 2019) – Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported third-quarter 2019 financial results. Net income attributable to Hyatt was $296 million, or $2.80 per diluted share, in the third quarter of 2019, compared to $237 million, or $2.09 per diluted share, in the third quarter of 2018. Adjusted net income attributable to Hyatt was $39 million, or $0.37 per diluted share, in the third quarter of 2019, compared to $37 million, or $0.33 per diluted share, in the third quarter of 2018. Refer to the table on page 14 of the schedules for a summary of special items impacting Adjusted net income and Adjusted earnings per share in the three months ended September 30, 2019.

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “The strength of our brands and the consistent approach we have to operating with excellence and efficiency are serving us very well in this period of volatile economic conditions. In particular, our management and franchise fee growth of nearly 11% this quarter is driven by roughly 13% year-over-year net rooms growth. Further, we have successfully increased productivity and operating efficiency for 23 straight quarters which has allowed us to maintain strong hotel operating margins even in the face of flat RevPAR growth this quarter.”

Third quarter of 2019 financial highlights as compared to the third quarter of 2018 are as follows:

Net income increased 25.4% to $296 million.
Adjusted EBITDA decreased 7.3% to $163 million, a decrease of 6.5% in constant currency.
Comparable system-wide RevPAR was flat, including a decrease of 0.1% at comparable owned and leased hotels. Comparable system-wide RevPAR growth was favorably impacted by approximately 50 basis points from the timing of the Jewish holidays, but was offset by a similar reduction resulting from political unrest in Hong Kong.
Comparable U.S. hotel RevPAR decreased 0.6%; full service hotel RevPAR increased 0.2% and select service hotel RevPAR decreased 2.3%.
Net rooms growth was 13.2%, or 7.9% excluding the acquisition of Two Roads Hospitality LLC (“Two Roads”) in the fourth quarter of 2018.
Comparable owned and leased hotels operating margin decreased 20 basis points to 21.0%.
Adjusted EBITDA margin of 26.9% decreased 280 basis points in constant currency.Mr. Hoplamazian continued, “We continue to execute on our capital strategy and shift our earnings profile while maintaining our focus on global growth. We expect to end the year with approximately 57% of our earnings coming from our hotel management and franchise business, an increase of roughly 400 basis points from 2018. Our pipeline remains robust while continuing to deliver solid organic net rooms growth of almost 8% this quarter, net of the acquisition of Two Roads in the fourth quarter of 2018. While theNote: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.

current global operating environment is challenging, we feel confident in our ability to manage through volatility and identify opportunities to strengthen our brands and performance.”

Third quarter of 2019 financial results as compared to the third quarter of 2018 are as follows:

Management, Franchise and Other Fees

Total management, franchise and other fees increased 11.9% (12.5% increase in constant currency) to $148 million. Base management fees increased 17.8% to $64 million, primarily in the Americas management and franchising segment due to the acquisition of Two Roads. Incentive management fees decreased 1.3% to $33 million. Franchise fees increased 11.8% to $37 million. Other fees increased 22.0% to $14 million. Excluding other fees, management and franchise fees increased 10.9% (11.6% increase in constant currency) to $134 million.

Americas Management and Franchising Segment

Americas management and franchising segment Adjusted EBITDA increased 11.2% (11.4% increase in constant currency), driven by higher management, franchise, and other fees from the Two Roads acquisition and recently opened hotels. RevPAR for comparable Americas full service hotels increased 1.5%, occupancy increased 70 basis points, and ADR increased 0.7%. RevPAR growth was driven by strength in certain resort locations outside of the United States and benefited from the timing of the Jewish holidays which had an approximate 110 basis point favorable impact. RevPAR for comparable Americas select service hotels decreased 2.4%, occupancy decreased 40 basis points, and ADR decreased 1.8%. Total Americas management and franchising adjusted revenues increased 29.6% (29.9% increase in constant currency) including revenue from the residential management operations acquired as part of Two Roads.

Transient rooms revenue at comparable U.S. full service hotels increased 1.0%, room nights increased 2.3%, and ADR decreased 1.3%. Group rooms revenue at comparable U.S. full service hotels decreased 0.2%, room nights decreased 2.3%, and ADR increased 2.2%.

Americas net rooms increased 11.5% compared to the third quarter of 2018, or 5.2% excluding Two Roads.

Southeast Asia, Greater China, Australia, South Korea, Japan and Micronesia (ASPAC) Management and Franchising Segment

ASPAC management and franchising segment Adjusted EBITDA increased 0.9% (2.5% increase in constant currency). RevPAR for comparable ASPAC full service hotels decreased 2.0%, reflecting weakness in Hong Kong. Excluding Hong Kong, RevPAR for comparable ASPAC full service hotels would have increased 0.8%. Occupancy decreased 50 basis points and ADR decreased 1.3% for ASPAC full service hotels. Revenue from management, franchise, and other fees increased 4.2% (5.4% increase in constant currency).

ASPAC net rooms increased 17.7% compared to the third quarter of 2018, or 13.7% excluding Two Roads.

Note: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.

Europe, Africa, Middle East and Southwest Asia (EAME/SW Asia) Management and Franchising Segment

EAME/SW Asia management and franchising segment Adjusted EBITDA increased 4.8% (7.8% increase in constant currency). RevPAR for comparable EAME/SW Asia full service hotels increased 1.6%, driven by strong growth in certain European markets, including France and the United Kingdom, and Southwest Asia, offset partially by weaker performance in Russia which lapped the FIFA World Cup in 2018.

Occupancy increased 290 basis points and ADR decreased 2.6% for EAME/SWA full service hotels. Revenue from management, franchise, and other fees increased 2.2% (4.3% increase in constant currency).

EAME/SW Asia net rooms increased 15.6% compared to the third quarter of 2018, or 14.4% excluding Two Roads.

Owned and Leased Hotels Segment

Total owned and leased hotels segment Adjusted EBITDA decreased 17.6% (16.9% decrease in constant currency), including a decrease of 12.0% (11.4% decrease in constant currency) in pro rata share of unconsolidated hospitality ventures Adjusted EBITDA. Refer to the table on page 11 of the schedules for a detailed list of portfolio changes and the year-over-year net impact to total owned and leased hotels segment Adjusted EBITDA.

Owned and leased hotels segment revenues decreased 3.9% (3.0% decrease in constant currency), and was negatively impacted by non-comparable hotels. RevPAR for comparable owned and leased hotels decreased 0.1%. Occupancy and ADR were both flat.

Corporate and Other

Corporate and other Adjusted EBITDA decreased 22.4% (22.5% decrease in constant currency), inclusive of $6 million of expenses from the Two Roads acquisition.

Corporate and other adjusted revenues increased 19.1% (consistent in constant currency).

Selling, General, and Administrative Expenses

Selling, general, and administrative expenses increased 1.0%, inclusive of rabbi trust impact and stock- based compensation. Adjusted selling, general, and administrative expenses increased 13.8%, or $10 million, including $8 million of integration costs related to the acquisition of Two Roads. Refer to the table on page 17 of the schedules for a reconciliation of selling, general, and administrative expenses to Adjusted selling, general, and administrative expenses.

OPENINGS AND FUTURE EXPANSION

Twenty hotels (or 4,422 rooms) opened in the third quarter of 2019, contributing to a 13.2% increase in net rooms compared to the third quarter of 2018. Excluding the impact of the Two Roads acquisition, net rooms increased 7.9% compared to the third quarter of 2018.

As of September 30, 2019, the Company had executed management or franchise contracts for approximately 460 hotels, or approximately 92,000 rooms. The Company is expected to open approximately 85 hotels in the 2019 fiscal year.

SHARE REPURCHASE/DIVIDEND

During the third quarter of 2019, the Company repurchased a total of 1,776,891 (1,099,507 Class A shares and 677,384 Class B shares) for approximately $133 million. The Company ended the third quarter with 36,811,374 Class A and 66,438,444 Class B shares issued and outstanding. From October 1 through October 25, 2019, the Company repurchased 523,499 shares of Class A common stock for an aggregate purchase price of approximately $37 million. As of October 25, 2019, the Company had approximately $351 million remaining under its share repurchase authorization.

The Company’s board of directors has declared a cash dividend of $0.19 per share for the fourth quarter of 2019. The dividend is payable on December 9, 2019 to Class A and Class B stockholders of record as of November 26, 2019.

CAPITAL STRATEGY UPDATE

In a Form 8-K filed on September 16, 2019, the Company announced the sale of the 1,260-room Hyatt Regency Atlanta for approximately $355 million to an unrelated third party and the entry into a long-term management agreement for the property upon sale.

The Company is in the process of pursuing the sale of one of its wholly-owned hotels and will provide further details as appropriate.

BALANCE SHEET / OTHER ITEMS
As of September 30, 2019, the Company reported the following:

Total debt of $1,623 million.
Pro rata share of unconsolidated hospitality venture debt of approximately $564 million, substantially all of which is non-recourse to Hyatt and a portion of which Hyatt guarantees pursuant to separate agreements.
Cash and cash equivalents, including investments in highly-rated money market funds and similar investments, of $660 million, restricted cash of $140 million, and short-term investments of $63 million.
Undrawn borrowing availability of $1.5 billion under Hyatt’s revolving credit facility.2019 OUTLOOK
The Company is revising the following expectations for the 2019 fiscal year:

Comparable system-wide RevPAR is expected to increase approximately 0.5%, as compared to fiscal year 2018.
Net income is expected to be approximately $431 million to $470 million. Please refer to the table on page 13 of the schedules for revised ranges impacting net income.
Other income (loss), net is expected to be approximately $98 million to $103 million, reflecting increased interest income and unrealized gains on marketable securities. The estimated $40 million negative impact related to performance guarantee expense for the four managed hotels in France is unchanged.
Adjusted EBITDA is expected to be approximately $730 million to $745 million, primarily reflecting a one point reduction in expected comparable system-wide RevPAR and the sale ofNote: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.

Hyatt Regency Atlanta (as previously reported in a Form 8-K filed on September 16, 2019). Refer to the table on page 13 of the schedules for a reconciliation of Net Income to Adjusted EBITDA.

Depreciation and amortization expense is expected to be approximately $329 million to $334 million.
Interest expense is expected to be approximately $77 million.
Adjusted selling, general, and administrative expenses are expected to be approximately $335 million. This is inclusive of approximately $25 million of expenses related to non-recurring integration costs for Two Roads. Adjusted selling, general, and administrative expenses exclude approximately $33 million of stock-based compensation expense and any potential impact related to benefit programs funded through rabbi trusts.The Company is reaffirming the following information for the 2019 fiscal year:

The Company expects to grow units, on a net rooms basis, by approximately 7.25% to 7.75%, reflecting approximately 85 new hotel openings.
Capital expenditures are expected to be approximately $375 million.
As previously reported in an 8-K filed on September 16, 2019, the Company expects to return approximately $500 million to shareholders through a combination of cash dividends on its common stock and share repurchases.
The effective tax rate is expected to be approximately 25% to 27%.

No additional disposition or acquisition activity beyond what has been completed as of the date of this release has been included in the outlook. The Company’s outlook is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that Hyatt will achieve these results.

ATR appoints Eric Segura as SVP Procurement & Supply Chain

October 31, 2019 / WIL BALDWIN

Toulouse, 29 October 2019 – Eric Segura, 55, has been nominated SVP Procurement and Supply Chain of ATR, the world number one regional aircraft manufacturer. Starting 1 November 2019, Eric will be reporting to the CEO, Stefano Bortoli and joins the ATR Executive Committee. Eric will be succeeding David Brigante, who was nominated SVP Programmes and Customer Services earlier in the year.

With more than 30 years in key positions within the Airbus group, Eric brings additional, comprehensive knowledge of the global aviation ecosystem to ATR.

Stefano Bortoli, ATR CEO stated: “We are very proud to have Eric joining the ATR team. His in-depth industry knowledge and strong expertise in procurement and the supply chain combined with a leadership style that fits the agile ATR culture and values, will help us put in place ATR’s strategy of continuous product improvement and innovation and contribute to preparing the future”.

Eric commented: “I am excited to have joined a company which is both a global leader and “into life”, connecting millions of people in all places around the world in a responsible and efficient way. In my new role I look forward to extend the purpose of ATR to the wider partner network and build an exciting future for the ATR turboprop.”

Helvetic Airways Receives its First Embraer E190-E2 Jet

October 31, 2019 / WIL BALDWIN

Zurich, Switzerland, October 31st, 2019 – In ceremony held at its headquarters in Zurich, Switzerland, Helvetic Airways officially received its first E190-E2 jet from Embraer. The airline has a contract for a firm order of 12 jets of this model, and purchase rights for a further 12 E190-E2, with conversion rights to the E195-E2, bringing the total potential order up to 24 E-Jets E2s.

“As the only Swiss airline to operate Embraer aircraft, Helvetic Airways already stands out from the competition,” said Martyn Holmes, Vice President Europe, Russia & Central Asia, Embraer Commercial Aviation. “And, with our state-of-the-art E190-E2, it now has the perfect aircraft, in terms of environmental sustainability and to maximize the profitability of its flight operations.”

Helvetic Airways CEO Tobias Pogorevc is pleased to have achieved this milestone. “After more than eighteen intensive months,” he commented, “it’s a sense of accomplishment that we feel most today. With the E190-E2, Helvetic Airways is entering a truly new era. Our state-of-the-art twinjet will make us one of Embraer’s leading European operators. And it gives us just the modern and environmentally friendly aircraft we need to continue our development.”

This E190-E2 aircraft marks the start of Helvetic’s fleet renewal program. The purchase rights for a further 12 aircraft (E190-E2 or E195-E2) will enable Helvetic Airways to grow according to market opportunities. Helvetic Airways is configuring the E190-E2 in a single class layout with 110 seats and will deploy the aircraft on several domestic and international routes.

The E190-E2 is the first of three new aircraft types that make up the Embraer E2 family of aircraft, developed to succeed the first-generation E-Jets. Compared to the first-generation E190, the E190-E2 burns 17.3% less fuel and nearly 10% less than its direct competitor. This makes it the most efficient single-aisle aircraft on the market. The E190-E2 brings more flexibility with maximum range of up to 3,293 miles (5,300 km), about 621 miles (1,000 km) more than the first-generation E190.

The E190-E2 also generates significant savings for airlines in terms of maintenance costs. It has the longest maintenance intervals with 10,000 flight hours for basic checks and no calendar limit in typical E-Jets utilization. This means an additional 15 days of aircraft utilization over a period of ten years.

Pilots of the first-generation E-Jets require only two-and-a-half days of training without the need for a full flight simulator in order to fly the E2, which decreases the training burden and saves both time and money for the airlines. The E2 cockpit features advanced Honeywell Primus Epic 2 integrated avionics. Combined with the closed-loop fly-by-wire controls, the systems work together to improve aircraft performance, decrease pilot workload and enhance flight safety.

From the passenger’s perspective, the E2 cabin features a comfortable two-by-two layout. The absence of a middle seat enables passengers to have an enjoyable flight experience with more legroom and additional luggage storage space.

Embraer is the world’s leading manufacturer of commercial aircraft up to 150 seats with more than 100 customers across the world. For the E-Jets program alone, Embraer has logged more than 1,800 orders and 1,500 aircraft have been delivered. Today, E-Jets are flying in the fleets of 80 customers in 50 countries. The versatile 70 to 150-seat family is flying with low-cost airlines as well as with regional and mainline network carriers.

Brand-New PC-12 NGX an Early Success at NBAA-BACE 2019

October 26, 2019 / WIL BALDWIN

A day after unveiling the new PC-12 NGX single-engine turboprop aircraft at the National Business Aviation Association’s annual Convention and Exhibition (NBAA-BACE), Pilatus reports very strong demand for the new aircraft across the global Authorised Pilatus Sales Centre network.

Based on the PC-12 airframe, of which more than 1,700 aircraft have been delivered, Pilatus introduces the third major evolution of the aircraft, named the PC-12 NGX. Markus Bucher, CEO of Pilatus, revealed the new aircraft at a ceremony on Monday evening. More than 200 guests were on hand for the aircraft’s public debut.

First customers of brand-new PC-12 NGX

On the first public day of NBAA-BACE, three customers were eager to be first in line to purchase the new advanced version of the PC-12.

Australian born Dion Weisler, President and CEO of HP, is the first owner to upgrade from his PC-12 NG to the new NGX. Dion Weisler said: “As an existing, proud and active owner-pilot of a 2017 PC-12 NG, I am amazed by the substantial innovation improvements in what I thought was an impossible aircraft to improve on. I am thrilled to be customer number one for the new PC-12 NGX. Pilatus has done it again – reimagined aviation and taken an already perfect aircraft and magically redefined perfection.”

The first US customer of the new PC-12 NGX is Shon Boney, Co-Founder of Sprouts Farmers Markets, an American supermarket chain. The new PC-12 NGX will actually be Shon Boney’s fourth PC-12.

João Carlos Marinho Lutz will be the first Brazilian customer to take delivery of the new PC-12 NGX. Currently flying a non-pressurised turboprop, he chose the new Pilatus aircraft, because “only the PC-12 NGX can reach farms in remote places where I need to go and amazing destinations in Brazil with comfort, speed and efficiency.”

The new PC-12 NGX is already certified

The PC-12 NGX features a completely new BMW Designworks interior, larger cabin windows inspired by the PC-24 and fully reclining executive seats. The new Pratt & Whitney Canada PT6 E-Series^TM engine comes with the Electronic Propeller and Engine Control. A fully integrated digital autothrottle and new avionics features by Honeywell, including a touch screen controller, emergency descent mode, tactile roll feedback and protection, and a low speed propeller quiet mode are just some of the features of the new cockpit environment.

The PC-12 NGX prototype first flew in December 2017. More than 600 hours of testing and certification flying were accumulated in Europe, USA and Canada as Pilatus quietly developed the new aircraft. The PC-12 NGX received certification just one week ago on Monday, 14 October 2019.

Pilatus will begin customer deliveries of the new PC-12 NGX early in the second quarter of 2020. The first production PC-12 NGX with serial number 2001 is present on the static display of Pilatus throughout the NBAA-BACE. Contact Pilatus or your nearest Authorised Pilatus Centre for aircraft availability.

Embraer Signs USD 1.4 Billion Business Jet Deal with Flexjet, Becoming Praetor Fleet Launch Customer

October 23, 2019 / WIL BALDWIN

Las Vegas, Nevada, October 21, 2019 – Embraer announced today a purchase agreement with Flexjet, a global leader in private jet travel. The deal comprises a fleet of Embraer business jets, which includes the recently certified Praetor jets and the Phenom 300. The announcement was made during a press conference at the 2019 National Business Aviation Association’s Business Aviation Convention and Exhibition (NBAA-BACE), which is being held through October 24, in Las Vegas, Nevada.

Valued at up to USD 1.4 billion, at current list prices, this deal was included in the 2019 second quarter backlog, with deliveries starting in the fourth quarter of 2019. With this purchase agreement, Flexjet becomes Embraer’s Praetor Fleet Launch Customer.

“We are very grateful for Flexjet’s renewed commitment to Embraer through this new agreement, which reflects the growth and the strength of our partnership over the past 16 years and symbolizes our ongoing support for their journey ahead,” said Michael Amalfitano, President & CEO, Embraer Executive Jets. “Flexjet Owners will appreciate and enjoy a truly elevated customer experience in industry-leading aircraft, including the recently certified Praetor jets, which are different by design and disruptive by choice.”

The partnership between Embraer and Flexjet dates back to 2003, when Flight Options, which merged with Flexjet in 2015, became the first fractional ownership program to introduce the Legacy Executive jet into its fleet. Offering customers a large cabin experience at super-midsize economics allowed Flight Options to serve more customers even better than before, while also supporting the company’s growth via Embraer’s high utilization, reliable aircraft design.

“We are proud to introduce the Praetor jets to the fractional marketplace and make technologically advanced midsize and super-midsize aircraft available to Flexjet Owners,” said Michael Silvestro, Flexjet CEO. “This order also represents the longstanding trust we have in Embraer and in their enhanced commitment to support the growth of our programs and of our partnership with industry-leading business jets.”

Flight Options introduced the Phenom 300 into its fractional program in 2010, receiving Embraer’s 100th milestone Phenom 300 in 2012, the first year in which the aircraft became the best-selling light jet. For the seventh consecutive year, the Phenom 300 has been the most delivered light business jet, according to GAMA (General Aviation Manufacturers Association). Also according to GAMA data, the Phenom 300 was the only business jet to reach the mark of 500 deliveries in the last decade.

Flexjet became the first fractional provider to offer the Legacy 500, in September 2015. In fact, Flexjet took delivery of Embraer’s 1,000th executive jet, a Legacy 500, in April 2016. The Legacy 450 joined the Legacy 500 in Flexjet’s Red Label fleet in August of that year, and both models became the first fly-by-wire Flexjet aircraft, offering performance and capabilities of larger aircraft with midsize economics.

United Lifts 2019 Profit Target on Strong Travel Demand

October 15, 2019 / WIL BALDWIN

Oct 15 (Reuters) – United Airlines on Tuesday topped Wall Street estimates for quarterly profit, boosted by higher fares and lower fuel costs, and lifted its 2019 profit target despite the continued grounding of the Boeing 737 MAX.

Chicago-based United is one of three U.S. airlines that have each had to cancel more than 2,000 monthly flights through the end of the year as Boeing Co’s 737 MAX remains grounded following two deadly crashes in Indonesia and Ethiopia.

The flight cancellations have weighed on airline profits and costs, but strong travel demand, despite concerns of a global economic slowdown, continued to offset MAX headwinds and disruption in Hong Kong and China.

As a result, United raised its 2019 adjusted diluted earnings per share guidance to $11.25-$12.25 versus $10.50-$12.00 previously.

United shares, which closed up 1% at $87.88 before the earnings release, were about 1% higher in after-hours trading.

Total operating revenue rose 3.4% to $11.38 billion, underpinned by the airline’s three-year strategy to build up flight connections through its main U.S. hubs.

But closely watched unit costs excluding fuel and profit-sharing expenses, a concern for investors, rose 2.1%.

The airline, which is in talks with Boeing over 737 MAX compensation, did not provide any details on the estimated financial impact of the grounding.

Adjusted net income rose to $1.05 billion, or $4.07 per share, in the third quarter, from $834 million or $3.05 per share a year earlier.

Analysts on average had forecast $3.95 per share, according to IBES data from Refinitiv.

United management will host a conference call to discuss results on Wednesday at 10:30 a.m. EDT (1430 GMT).

Fellow U.S. MAX operators Southwest Airlines and American Airlines, which have both warned of a pretax profit hit from the MAX grounding, are due to report quarterly results next week.

United, Southwest and American are all scheduling without the MAX until early January.

(Reporting by Tracy Rucinski in Chicago and Sanjana Shivdas in Bengaluru Editing by Shinjini Ganguli and Matthew Lewis)

Alstom Presents First Aptis Serial Vehicle at Busworld 2019

October 14, 2019 / WIL BALDWIN

14 October 2019 – Alstom will present the first serial vehicle of its Aptis electric bus at Busworld 2019, being held in Brussels from 17 to 23 October. After the four prototypes that have been on the roads of many French and European cities for the past two years, this new design incorporates feedback from passengers and transport operators.

This first serial vehicle is based on an optimised global architecture requiring fewer spare parts references and considerably facilitating maintenance operations. Thanks to a wheel steering angle of more than 40°, its ease of insertion increases significantly. The 15% reduction in the total weight of the vehicle, combined with the use of new, more efficient and state of the art batteries, substantially increases range. Aptis now accommodates more passengers while still offering them more fluidity thanks to large sliding doors.

In addition to the technical improvements, Aptis can also boast significant improvements to passenger comfort. A new air-conditioning system that (fully electrical heat-pump) maximises thermal comfort and the panoramic rear lounge has been enhanced to give a feeling of increased space. The new hydraulic suspension allows superior comfort and sound insulation, making Aptis one of the quietest and most innovative buses on the market.

“Alstom and its teams are very proud to be presenting the first series version of Aptis. This concentration of innovations perfectly represents what we always envisaged the production version of the 100% electric mobility solution would be. This clean, green bus, with its elegant design and optimised technical performance, will offer a new experience to passengers and drivers while meeting the new mobility challenges of urban areas,” underlines Benjamin Bailly, head of Alstom’s electric bus platform.

Aptis has already been chosen by Paris in the context of Europe’s largest call for tender for electric buses, as well as by the cities of Strasbourg, Grenoble, La Rochelle and Toulon. Upcoming milestones include ongoing tests in Spain with the ground-based recharge solution SRS and the training of hundreds of drivers in a new driving experience ahead of the first traffic releases, scheduled for the end of the year in Strasbourg.

Manufacturing and testing of Aptis will be carried out at Alstom’s two sites in Alsace. The Hangenbieten site oversees manufacturing of the end modules (driver’s cab and rear lounge). Manufacturing of the central passenger module, final assembly and tests will be carried out at the Reichshoffen site. This scheme will allow serial production from the end of 2019 onwards. Five other Alstom sites in France contribute to the design and manufacture of Aptis: Saint-Ouen for system integration, Tarbes for traction, Ornans for engines, Villeurbanne for electronic components of the traction chain.

In order to complete Alstom’s vison of road electromobility, exhibited alongside Aptis at Busworld will also be SRS, a completely safe, ground-level, conductive, static recharge system allowing the charging of buses along their route or within depots. As a ground-based solution, it eliminates the need for overhead infrastructure in cities, preserving the aesthetics of the urban landscape. In depots, SRS avoids the infrastructure costs associated with overhead charging systems. SRS for e-buses is based on Alstom’s SRS static recharge technology for trams, a proven solution already in operation in Nice, France. It is developed at Alstom’s Vitrolles site.

ATR Launches Short Take-Off and Landing 42-600’S

October 11, 2019 / WIL BALDWIN

Leading turboprop manufacturer’s Board of Directors approves the launch of brand new STOL version

Juan-les-Pins, 9 October 2019 – ATR, the world number one regional aircraft manufacturer, confirms it has received authorisation from its board of directors for the launch of the ATR 42-600S. With the ‘S’ representing STOL (Short Take-Off and Landing), this new version of the ATR 42-600 offers take-off and landing capabilities on runways as short as 800m with 40 passengers on board in standard flight conditions (*). This makes the ATR 42-600S the best performing aircraft in this segment.

To-date, ATR has recorded 20 commitments from operators and lessors for this ATR 42-600S variant. This includes Elix Aviation Capital as the launch lessor and Air Tahiti as the launch operator, as announced on the occasion of the Paris Air Show 2019.

The 42-600S is a brand new addition to the company’s aircraft family, alongside the founding members ATR 42-600 and ATR 72-600, and the forthcoming ATR 72-600F cargo variant. The ATR 42-600S’ certification, is expected for the second half of 2022, with the first delivery expected immediately after.

ATR Chief Executive Officer Stefano Bortoli, commented: “Adding the ATR 42-600S to our family makes total sense and paves the way for the company’s future. There is a huge potential for 50-seater aircraft and the ATR 42-600S could help airlines widen their horizons, as it can reach up to around 500 new airports across the globe. This is clear illustration of our dedication in helping more people and more remote communities benefit from being part of a connected world and in a sustainable way.”

The principal modifications for the 42-600S will concern the introduction of a larger rudder, which allows increased control of the aircraft at lower speeds. The new version will continue to use the same engine as both the ATR 42 and 72. The ATR 42-600S will, however, allow pilots to be able to select between the ATR 42 and 72 engine ratings, meaning the aircraft can use increased power for performing STOL operations, or elect to operate more efficiently with less power on longer runways. The ATR 42-600S will also be able to symmetrically deploy its spoilers to improve braking efficiency on landing. It will also come with an autobrake system which will ensure that the full braking power occurs immediately upon landing.

With this new version, ATR forecasts to expand the addressable market by 25%, targeting new routes and the 30-seater STOL segment. There is a strong interest from airlines for a new 50-seater product capable of operating in more constraint conditions. Close to 500 airports have a runway comprised between 800-1,000m and could welcome the ATR 42-600S. The launch of this aircraft will benefit both passengers and airlines thanks to the increased regional connectivity that it will bring.

*15°C airfield temperature, sea level, dry paved runway and a route of 200NM.

Allegiant Travel Company Schedules Q3 2019 Earnings Call

October 8, 2019 / WIL BALDWIN

LAS VEGAS, Oct. 8, 2019 /PRNewswire/ — Allegiant Travel Company (NASDAQ: ALGT) has scheduled its third quarter 2019 financial results conference call for Thursday, October 24 at 5:30 p.m. EDT. A live broadcast of the conference call will be available through the company’s Investor Relations website at http://ir.allegiantair.com/. The webcast will also be archived on the “Events & Presentations” section of the site.

Allegiant Travel Company

Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with premier leisure experiences – from vacations to hometown family entertainment. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant serves more than 450 routes across the country, with base airfares less than half the cost of the average domestic roundtrip ticket. Allegiant’s Sunseeker Resorts subsidiary is currently under construction with its inaugural resort property, Sunseeker Resort Charlotte Harbor in Southwest Florida – a unique waterside integrated resort like no other. And a growing group of Allegiant Nonstop family entertainment centers offer state-of-the art indoor games and attractions to thrill seekers of all ages. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF.

Lufthansa Group Welcomes More Than 14.1 Million Passengers in August, 2019

September 12, 2019 / WIL BALDWIN

Number of passengers rises by 2.9 percent year-on-year
Capacity utilisation up by 0.8 percentage points to 87.2 percent
Strongest passenger growth at Zurich hub

In August 2019, the Lufthansa Group airlines welcomed more than 14.1 million passengers. This shows an increase of 2.9 percent compared to the previous year’s month. The available seat kilometres were up 1.8 percent over the previous year, at the same time, sales increased by 2.7 percent. In addition as compared to August 2018, the seat load factor rose by 0.8 percentage points to 87.2 percent.

Cargo capacity increased by 8.9 percent year-on-year, while cargo sales increased by 1.5 percent in revenue tonne-kilometre terms. As a result, the Cargo load factor showed a corresponding reduction, decreasing by 4.2 percentage points to 58.8 percent.

Network Airlines with around 10.2 million passengers

The Network Airlines including Lufthansa German Airlines, SWISS and Austrian Airlines carried around 10.2 million passengers in August – 3.3 percent more than in the prior-year period. Compared to the previous year, the available seat kilometres increased by 3.1 percent in August. The sales volume was up by 4.0 percent over the same period, with an increasing seat load factor by 0.7 percentage points to 87.3 percent.

Strongest passenger growth at Zurich hub

In August, the strongest passenger growth of the network airlines was recorded at the Zurich hub with 7.0 percent. The number of passengers increased by 4.7 percent in Vienna and by 4.5 percent in Munich. In Frankfurt the number of passengers on the contrary decreased by 0.9 percent. The underlying offer also changed to varying degrees: In Munich the offer increased by 12.1 percent, in Zurich by 2.6 percent and in Frankfurt by 0.3 percent. In Vienna the offer decreased by 1.0 percent.

Lufthansa German Airlines transported more than 6.6 million passengers in August, a 1.8 percent increase compared to the same month last year. A 4.0 percent increase in seat kilometres corresponds to a 4.8 percent increase in sales. The seat load factor rose by 0.7 percentage points to 86.8 percent.

Eurowings increases supply and sales on short-haul routes

Eurowings (including Brussels Airlines) carried around 3.9 million passengers in August. Among this total, around 3.6 million passengers were on short-haul flights and 309,000 flew on long-haul flights. This corresponds to an increase of 1.8 percent compared with the previous year, resulting from an increase of 2.8 per cent on short-haul flights and a reduction of 8.1 per cent on long-haul flights. A 3.5 percent decrease in capacity was offset by a 2.3 percent decrease in sales, resulting in an increase of seat load factor by 1.0 percentage points to 87.0 percent.

In August, the number of seat-kilometres offered on short-haul routes was increased by 1.5 per cent, while the number of seat-kilometres sold increased by 3.5 per cent over the same period. This results in a seat load factor of 87.1 per cent, which is 1.7 percentage points higher on these flights. On long-haul flights, the seat load factor decreased by 0.4 percentage points to 86.6 per cent over the same period. The 13.4 per cent decrease in capacity was offset by a 13.8 per cent decrease in sales.

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