Tag: capital (Page 4 of 12)

Embraer Delivers 600th Phenom 300 Series Aircraft, World’s Best Selling Light Jet

May 23, 2021 / WIL BALDWIN

Embraer has delivered the 600th Phenom 300 series business jet to Superior Capital Holdings, LLC based in Fayetteville, Arkansas. The aircraft, which recently became the world’s best-selling light jet for the ninth consecutive year and the most delivered twinjet of 2020, based on year-end aircraft billing and shipment reports by the General Aviation Manufacturers Association (GAMA), will be used to support the company’s business operations throughout the U.S.

Superior Capital Holdings, LLC previously operated a single engine turboprop but after experiencing a flight in the Phenom 300, decided the aircraft was the best choice for their business. The customer, a first-time jet buyer, upgraded based on the need for enhanced cabin comfort, increased speed, and exceptional safety, as many of their trips involve routes over 1,000 nautical miles. In addition to the Phenom 300’s enhanced capabilities based on remarkable field performance, the aircraft maintains airport flexibility with dependable maintenance and best-in-class operating cost, comparable to many turboprops. The comfort of the seats, with recline and full movement capability, are further enhanced by the best cabin pressurization among light jets (6,600 ft. maximum cabin altitude) providing the ultimate in-flight experience.

Originally launched in 2005, the Phenom 300 series is in operation in more than 35 countries and has accumulated more than 1.2 million flight hours. The milestone aircraft delivered today is the Phenom 300E, the newest enhanced iteration of the industry-leading light jet. With its unparalleled technology, exceptional comfort, and stunning performance, the Phenom 300E sets the highest standard of excellence in the light jet category. In terms of performance, the enhanced Phenom 300E is even faster, capable of reaching Mach 0.80, becoming the fastest single-pilot jet in production. The aircraft is capable of a high-speed cruise of 464 knots, and a five-occupant range of 2,010 nautical miles (3,724 km) with NBAA IFR reserves.

Additional technology enhancements include an avionics upgrade, featuring a runway overrun awareness and alerting system (ROAAS)―the first technology of its kind to be developed and certified in business aviation―as well as predictive windshear, Emergency Descent Mode, PERF, TOLD, and FAA Datacom, among others. The Phenom 300E also features 4G connectivity via Gogo AVANCE L5.

Enhancements didn’t end with technology—comfort was equally considered. The Phenom 300E features a quieter cabin thanks to noise-reducing improvements, as well as extended seat tracking in the cockpit to offer pilots’ more legroom and comfort.

Singapore Airlines Raises S$2 Billion from Sale-and-Lease Back Transactions

May 10, 2021 / WIL BALDWIN

Singapore Airlines (SIA) has completed sale-and-leaseback transactions for 11 aircraft, comprising seven Airbus A350-900s and four Boeing 787-10s, raising approximately S$2.0 billion in total.

The transactions were arranged by four different parties, as follows:

Lease Arranger	Aircraft
Aergo Capital Limited	1 Airbus A350-900 1 Boeing 787-10
Altavair	4 Airbus A350-900s
EastMerchant / Crianza Aviation	1 Airbus A350-900 2 Boeing 787-10s
Muzinich and Co. Limited	1 Airbus A350-900 1 Boeing 787-10
Total	11

SIA has successfully raised approximately S$15.4 billion in fresh liquidity since 1 April 2020, including these sale-and-leaseback transactions. The amount also includes S$8.8 billion from SIA’s successful rights issue, S$2.1 billion from secured financing, S$2.0 billion via the issuance of convertible bonds and notes, as well as more than S$500 million through new committed lines of credit and a short-term unsecured loan.

SIA continues to have access to more than S$2.1 billion in committed credit lines, along with the option to raise up to S$6.2 billion in additional mandatory convertible bonds before the Annual General Meeting in July 2021.

During this period of high uncertainty, as the airline industry continues to navigate the unprecedented challenges caused by the Covid-19 pandemic, the SIA Group will continue to explore additional means to raise liquidity as necessary.

Mr Goh Choon Phong, Singapore Airlines Chief Executive Officer, said: “The additional liquidity from these sale-and-leaseback transactions reinforces our ability to navigate the impact of the Covid-19 pandemic from a position of strength. We will continue to respond nimbly to the evolving marketing conditions, and be ready to capture all possible growth opportunities as we recover from this crisis.”

AeroMexico Lands in Russia for the First Time

March 10, 2021 / WIL BALDWIN

Mexico City, March 10, 2021 – Cooperating with DHL Global Forwarding, Aeromexico managed to achieve its first flight in its history to Russia operating a cargo charter flight. The flight departed from Mexico City on March 8, with a stopover in Madrid, Spain. The flight continued on to Moscow Sheremetyevo International Airport in Russia, landing on March 9. Following cargo loading, the Boeing 787 Dreamliner aircraft took off for the return flight to Mexico City, once again stopping over in the Spanish capital.

Aeromexico, in the last 12 months, has landed its Dreamliner aircraft at 20 new airports in 14 countries including: Belo Horizonte, Cabo Frio, Cali, Fortaleza, Frankfurt, Guatemala, Guayaquil, Hong Kong, Kingston, Moscow, Panama, Porto Alegre, Quito, Santo Domingo, San Jose, San Pedro Sula, San Salvador, Shenzhen, Winnipeg, and Wuhan.

Since the start of the pandemic, Aeromexico has transported more than 6,400 tons of cargo on 325 charter operations to ship medical supplies and other necessary goods to Mexico, as well as 16 countries. Aeromexico Cargo operates in more than 40 airports in Mexico, and several other destinations including the USA, Canada, Central America, South America, Asia, and Europe. The most common cargo carried includes medical supplies, pharmaceuticals, perishable goods, live animals, and high technology consumer and corporate items.

Frontier Airlines Started Four New Nonstop Routes From Las Vegas Today

March 8, 2021 / WIL BALDWIN

LAS VEGAS – March 8, 2021 – Low-fare carrier Frontier Airlines this week takes off with four new, nonstop routes to Las Vegas from El Paso, Texas; Little Rock, Arkansas; Oklahoma City, Oklahoma and Wichita, Kansas. Plus, later this month, Frontier begins nonstop service from McCarran International Airport (LAS) to two popular vacation destinations in Mexico: Los Cabos and Puerto Vallarta.

Frontier now offers 44 nonstop destinations from Las Vegas, including two international routes. The new flights to Mexico represent Frontier’s commitment to expanding travel opportunities to exciting destinations while maintaining its ‘Low Fares Done Right’ approach.

“We’re very excited bring more new flights to Las Vegas and offer an affordable travel option for folks from El Paso, Little Rock, Oklahoma City and Wichita to visit the Entertainment Capital of the World,” said Daniel Shurz, senior vice president of commercial, Frontier Airlines. “Frontier has quickly become a preferred airline in Las Vegas with an established crew base, robust flight schedule and ultra-competitive fares and we look forward to welcoming Nevadans on our two new international routes later this month to the sunny beaches of Los Cabos and Puerto Vallarta.”

AirAsia Group Welcomes Dr. Stanley Choi as Substantial Shareholder

February 28, 2021 / WIL BALDWIN

AirAsia Group Berhad (Kuala Lumpur: 5099.KL) is pleased to announce that Dr. Stanley Choi Chiu Fai has joined the Group as a substantial shareholder via his wholly-owned entity Positive Boom Ltd. on 18 February 2021. He acquired 167.1 million AirAsia shares in the first tranche of the private placement, raising his shareholding in the group to 332.5 million shares equating to a 8.96% stake.

Dr. Stanley Choi is the Chairman of Head & Shoulders Financial Group, as well as the Chairman and Executive Director of International Entertainment Corporation (IEC), a company listed on the main board of Hong Kong Stock Exchange (1009.HK). He is also the only co-founding member from Hong Kong for YunFeng Capital – a private equity fund started in 2010 by a group of successful entrepreneurs and influential industry leaders, named after its co-founder Jack Ma Yun, founder of Alibaba Group, and David Yu Feng, founder of Target Media.

His previous directorships include his appointment as Executive Director of Target Insurance (Holdings) Limited (stock code: 6161.HK) from 2014 to 2019, Director of ZhongAn Online P&C Insurance Co. Limited (stock code: 6060.HK) from 2013 to 2016 and Executive Director of Media Asia Group Holdings Limited (stock code: 8075.HK) from 2011 to 2015.

The successful businessman possesses more than 20 years of experience in financial services and merger & acquisition transactions, with a particular focus on private equity investment. He was a seed investor of Kidswant, a Chinese-startup that has now become a leading maternity, baby and children’s product retailer in China with a valuation of over USD3 billion.

Dr Stanley Choi, Chairman of Head & Shoulders Financial Group said: “It is my great pleasure and honour to gain a substantial ownership stake in AirAsia Group – the world’s best low cost airline and one of Asia’s biggest known brands that has successfully pivoted into digital business as well. I believe the worst period in the aviation industry’s history has now passed. I am confident that air travel will bounce back and that under Tan Sri Tony’s and Datuk Kamarudin’s leadership, and with vaccines being rolled out across the region and globally, AirAsia has a very bright future ahead. I look forward to working with everyone at AirAsia.”

Datuk Kamarudin Meranun, Executive Chairman of AirAsia Group said: “We are thrilled to welcome Dr Stanley Choi as a strategic shareholder of AirAsia Group, bringing an impressive track record and solid reputation as a business powerhouse to our Group. We are confident that he will add value to our digital business development in China through his vast experience and network with top digital players in the country.

Dr Stanley Choi graduated with a Master’s Degree of Science from the University of Illinois at Urbana Champaign, United States in 1996. In 2013, he obtained a Doctoral Degree of Business Administration from the City University of Hong Kong.

American Airlines Names Adriane M. Brown To Board of Directors

February 22, 2021 / WIL BALDWIN

FORT WORTH, Texas — American Airlines Group Inc. (NASDAQ: AAL) today announced the election of Adriane M. Brown, 62, to its board of directors. Brown will also serve on the company’s Audit and Corporate Governance and Public Responsibility committees.

Brown currently serves as managing partner at Seattle-based venture capital firm Flying Fish Partners. She also sits on the boards of Axon Enterprise, Inc., eBay Inc. and the Washington Research Foundation/WRF Capital.

Brown has held a number of senior leadership positions during her career, including president and chief operating officer at Intellectual Ventures Management, LLC, president and CEO of Transportation Systems and vice president and GM of two aerospace divisions at Honeywell International Inc. Brown launched her career at Corning Incorporated and rose to hold several senior roles. She previously served on the boards of The Raytheon Company, Allergan plc and Harman International Industries, Incorporated.

She holds a Bachelor of Science in environmental health from Old Dominion University and a Master of Science in management from the Massachusetts Institute of Technology.

KiwiRail Announces New Auckland Southern Station Locations

February 12, 2021 / WIL BALDWIN

KiwiRail and the Supporting Growth Alliance (Auckland Transport and Waka Kotahi) have today confirmed their proposed sites for three new stations in southern Auckland and will now begin more detailed consultation with stakeholders about their development.

Over the next 30 years, an extra 120,000 people are expected to live in the area, which will also have 40,000 new houses and 38,000 new jobs. The development of the new stations and their associated facilities will be staged over time to coincide with demands from developments feeding each location.

KiwiRail has been given funding through the Government’s NZ Upgrade Programme for the first phase of development.

The locations for the new stations are designed to maximise connections with future town centres, new housing, and other public transport routes.

The aim is ensure the wider area has a robust public transport system to enable long-term housing and business growth. Other factors considered included the existing railway track alignment, the distance between stations, and environmental and ecological features.

The fully developed stations will have a bus interchange and Park & Ride facilities along with other infrastructure. We are working to confirm the exact footprint which will be needed for the associated facilities for the fully developed stations and will then begin the process of protecting the land.

Waka Kotahi National Manager System Design Robyn Elston says: “We are focusing on how longer-term road and rail projects can give people more connected public transport choices and help them move around safely and easily. We’re looking forward to talking to communities about how to make these projects happen.”

The planned railway stations are part of the $2.39 billion of transport improvements in southern Auckland that Waka Kotahi and KiwiRail are delivering as part of the Government’s New Zealand Upgrade Programme.

Other improvements will include SH1 Papakura to Drury South, Mill Road and Papakura to Pukekohe rail electrification. They are part of a longer term transport network being investigated and delivered to support growth in south Auckland.

Public information sessions on the rail developments in Southern Auckland are being held in Drury on February 18th and Pukekohe on February 20th.

The proposed locations for the three stations are:

Drury Central will be located on the existing rail line south of Waihoehoe Road, between Flanagan and Great South Roads.

Drury West will be located on the existing rail line, about 450 m south of the existing intersection of SH22 / Karaka Road and Jesmond Road.

Paerata will be located on the existing rail line, adjacent to the planned eastern extent of the Paerata Rise development.

United Airlines Works With Archer Aviation to Accelerate Production of Electric Aircraft

February 10, 2021 / WIL BALDWIN

CHICAGO, Feb. 10, 2021 /PRNewswire/ — United Airlines (Nasdaq: UAL) today announced that it has completed an agreement to work with air mobility company Archer as part of the airline’s broader effort to invest in emerging technologies that decarbonize air travel. Rather than relying on traditional combustion engines, Archer’s electric vertical takeoff and landing (eVTOL) aircraft are designed to use electric motors and have the potential for future use as an ‘air taxi’ in urban markets.

Under the terms of the agreement, United will contribute its expertise in airspace management to assist Archer with the development of battery-powered, short-haul aircraft. Once the aircraft are in operation and have met United’s operating and business requirements, United, together with Mesa Airlines, would acquire a fleet of up to 200 of these electric aircraft that would be operated by a partner and are expected to give customers a quick, economical and low-carbon way to get to United’s hub airports and commute in dense urban environments within the next five years.

Working with Archer is another example of United’s commitment to identifying and investing in innovative technology that can reduce carbon emissions while also improving the customer experience and earning a strong financial return. The airline was an early stage investor in Fulcrum BioEnergy and recently partnered with 1PointFive, a joint venture between Oxy Low Carbon Ventures and Rusheen Capital, to jumpstart the establishment of direct air capture and sequestration technology.

With today’s technology, Archer’s aircraft are designed to travel distances of up to 60 miles at speeds of up to 150 miles per hour and future models will be designed to travel faster and further. Not only are Archer’s aircraft capable of saving individuals time on their commute, United estimates that using Archer’s eVTOL aircraft could reduce CO₂ emissions by 47% per passenger on a trip between Hollywood and Los Angeles International Airport (LAX), one of the initial cities where Archer plans to launch its fleet.

Led by co-founders and co-CEOs Brett Adcock and Adam Goldstein, Archer’s mission is to advance the benefits of sustainable air mobility at scale. Archer plans to unveil its full scale eVTOL aircraft in 2021, begin aircraft production in 2023, and launch consumer flights in 2024. To drive this fourth transportation revolution and transform how people approach everyday life, work and adventure, Archer has built a highly accomplished team of top engineering and design talent, with a collective 200+ years of eVTOL experience.

KrasAvia Boosts Regional Connectivity in Siberia With Two ATR 72 Aircraft

February 8, 2021 / WIL BALDWIN

Toulouse, 8 February, 2021 – Russia’s KrasAvia started operating its first two ATR 72-500, the first ATR aircraft ever registered in Russia. Owned by the government of Krasnoyarsk Krai, KrasAvia is an airline based in Krasnoyarsk, the third largest city in Siberia, with a population of approximately 1.1 million people. KrasAvia operates scheduled and charter flights with helicopters and fixed-wing aircraft on regional routes to Russia’s Far North from its Krasnoyarsk hub. The two ATR 72-500 have been purchased second-hand from Swedish lessor Erik Thun and the deal was arranged by Bertrand Lattes Aviation Capital (BLAC).

Air services are crucial to serve the remote regions of Siberia, and their challenging environment requires versatile and reliable aircraft able to take-off and land in extreme cold conditions. The route from Krasnoyarsk to Khatanga, near the Arctic Ocean, is one of the longest scheduled ATR routes (984NM / 1822km) – a four hour flight.

Andrey Egorov, General Director of KrasAvia, declared: “The acquisition of these two ATR 72-500 shows that we are ever more committed to improving our fleet and offering our passengers a smoother flying experience. They will replace our smaller Antonov An-24 and An-26 turboprop, which have reached over 40 years of service. Thanks to the ATR 72-500 versatility and modern and spacious cabin, we will continue to support the connectivity needs of the Siberian communities, with increased seat capacity and higher standards of comfort.”

Stefano Bortoli, Chief Executive Officer of ATR, said: “All regions deserve the same opportunity to be part of a connected world, and ATR aircraft show unrivalled performance in connecting people and businesses responsibly. The entry into service of these aircraft is highly significant, as KrasAvia is the first public airline in Russia to purchase and operate ATR. We are truly glad to see our aircraft continuing to support regional connectivity in the country.”

KrasAvia is the third largest ATR operator in Russia, after UTair and NordStar, which respectively operate a fleet of 15 ATR 72-500 and five ATR 42-500. The total ATR fleet in Russia now totals 22 aircraft, with their operational versatility and reliability being strong assets for their operators, to the benefit of the communities they serve.

The newer ATR-72-500’s are quite the upgrade from the old Antonov AN-24 aircraft!

Qantas Group Targets Domestic Growth with Alliance Airlines Capacity Deal

February 3, 2021 / WIL BALDWIN

A new deal with Alliance Airlines will help the Qantas Group meet an expected surge in local tourism demand once the country moves beyond sudden COVID-related border closures. Alliance will provide the QantasLink network with flexible capacity using its recently acquired Embraer E190 aircraft – a 94 seat jet with a five hour range that is well suited to linking regional centres with smaller capital cities.

Initial routes that Alliance will fly are expected to include Adelaide–Alice Springs, Darwin–Alice Springs and Darwin–Adelaide. Passengers can expect an increase in frequency made possible by the size, range and economics of the E190 compared to the Boeing 737’s that are currently used on these routes; the 737’s will be redeployed elsewhere in Australia as part an ongoing ‘right aircraft, right route’ approach to the Group’s network.

Qantas has signed a three year deal with Alliance to access three E190’s based in Darwin and Adelaide. The timing will depend on the rate of recovery in travel demand but is currently expected to start in June 2021, once the vast majority of the Qantas Domestic flying has returned to pre-COVID levels.

The agreement also provides flexibility to access an additional 11 (for a total of 14) E190 regional jets, but also to switch off some (or all) of this capacity, depending on market conditions.

CEO of QantasLink, John Gissing, said the deal reflected the kind of flexibility needed to respond to opportunities without committing any capital.

The E190 offers 10 seats in Business Class and 84 seats in Economy, with a range of about 4,500 kilometres.

Qantas owns just under 20 per cent of Alliance Airlines.

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