Tag: Finance (Page 4 of 6)

DHL Global Forwarding Goes Wild!

January 17, 2022 / WIL BALDWIN

Bonn, Germany – DHL Global Forwarding has continued its commitment to supporting wildlife by assisting a conservation organization with the rescue five lions and one tiger from captivity. On behalf of Warriors of Wildlife, the wild cats, all born in Ukraine, were relocated safely to South Africa. Following this transport, the non-profit organization has rescued a total of 28 wild cats and other animals from Ukraine. In the past, DHL Global Forwarding has also helped relocate several brown bears, pandas, and most recently, “the world’s loneliest elephant,” Kaavan.

The wild cats were kept in a private zoo in Chernivtsi and a zoo in Nikolaev in the south of Ukraine. DHL brought them to a sanctuary run by the head of the wildlife organization Lionel de Lange. The Simbonga Game Farm & Sanctuary is located near Gqeberha (Port Elizabeth), Eastern Cape, South Africa. Throughout the whole journey the animals were monitored by veterinarian specialists. In Ukraine, the DHL team had the support of a Ukrainian vet until departure. Together with the director of Warriors for Wildlife and another veterinarian they boarded then their flight from Boryspil International Airport to O.R. Tambo International Airport in Johannesburg. The last leg of their journey the cats travelled via road before they were finally welcomed to their new home.

Warriors of Wildlife is a non-profit organization dedicated to the rescue, relocation and future care of abused and neglected wildlife in captivity. The organization was founded in 2016 by Lionel de Lange and his wife Anya Masyach and operates from Ukraine and South Africa.

Japan Central Railroad Releases 2022 Operations plan

January 17, 2022 / WIL BALDWIN

The Japan Central Railroad has released the operation plan of the Tokaido Shinkansen for consideration of customer usage conditions.

Operation plan from January 1st to January 31st

Operation plan from February 1st to February 28th

*We will inform you of the operation plan after March as soon as it is decided.

https://global.jr-central.co.jp/000041678.pdf

Loft Orbital Signs Agreement to Procure Over 15 Airbus Arrow Satellite Platforms

January 17, 2022 / WIL BALDWIN

Airbus (OTC: EADSY) has been contracted to supply space start-up Loft Orbital with more than fifteen satellite platforms derived from the Airbus Arrow platform. Arrow is the foundational satellite platform of the OneWeb constellation. There are 394 Airbus Arrow platforms in orbit for the OneWeb constellation and a further 254 are being produced to complete the 648 spacecraft required by OneWeb. With this acquisition, Loft Orbital confirms its intention to make the Airbus Arrow platform a true workhorse enabling its service business model.

Loft Orbital offers a true end-to-end service enabling customers to rapidly deploy and operate their payloads on reliable high-performance satellites at an unprecedented simplicity and affordability. Loft Orbital has also contracted Airbus to modify the Arrow platform to make it suitable for a wider range of longer lifetime missions and applications. Loft Orbital has offices both in the USA and France, being based in the heart of Silicon Valley in San Francisco, and in the European space capital Toulouse, and intends to continue rapidly growing its French presence following this contract relationship with Airbus.

The improvements to the Arrow platform, including all the engineering, qualification, test, and production of the first few spacecraft will be performed by Airbus in Toulouse. The production at scale of the remaining Arrow-derived platforms will be performed by Airbus OneWeb Satellites (AOS).

Airbus Space’s strategy of Next Space will seek further engagement with new players in the space ecosystem to ensure that sustainability and reliability in the LEO space environment is guaranteed for the future.

Singapore Airlines Extends PPS Club And KrisFlyer Elite Statuses For Third Year

January 17, 2022 / WIL BALDWIN

Singapore Airlines (SES: C6L.SI) is extending PPS Club and KrisFlyer Elite statuses, rolling over Elite miles, pausing the expiration of miles in 2022, and introducing new program benefits that further rewards its loyal members.

All PPS Club and KrisFlyer Elite statuses that are due to expire between March 2022 and February 2023 will be automatically extended for another year. This supports our members, who have been unable to fly as before due to the Covid-19 pandemic, and follows a similar extension in 2020 and 2021.

Elite miles earned by KrisFlyer Elite members, in the 12 months prior to the latest extension, will be credited back into their accounts after the extension. Elite miles earned during the previous membership qualification cycle will also count towards their requalification in the March 2023 to February 2024 cycle.

KrisFlyer miles that expire in 2022 will be automatically extended by six months at a time, at the end of each month.

Rewards earned from the PPS Rewards and KrisFlyer Milestone Rewards that are due to expire in 2022 will be extended to 31 December 2022. This offers members greater flexibility in utilising the rewards earned from flying with SIA.

From February 2022, KrisFlyer members also enjoy additional benefits when they fly on Scoot.

PPS Club and KrisFlyer Elite tier members can enjoy priority boarding, complimentary standard seat selection, an additional 5kg check-in baggage allowance with any baggage purchase, as well as 25% more KrisFlyer miles for every mile earned when travelling on Scoot flights.

In addition, KrisFlyer members can earn 2.5 Elite miles for every KrisFlyer mile earned from flying on Scoot, up from 1 Elite mile for every KrisFlyer mile. This enables members to upgrade to higher KrisFlyer membership tiers at a faster rate.

SIA has also launched two new KrisFlyer Milestone Rewards, which can be enjoyed by members who have earned 1,000 and 2,500 Elite miles.

QANTAS and Jetstar Airlines Adjust Third Quarter Flight Capacity Settings

January 16, 2022 / WIL BALDWIN

Qantas and Jetstar are adjusting flying levels to better match travel demand in light of the sudden growth in COVID-19 cases. The Qantas Group now expects domestic capacity for the third quarter of FY22 to be at around 70 per cent of pre-COVID levels, down from the 102 per cent that had been planned. The schedule changes are focused on reducing frequency of services and size of aircraft to minimise inconvenience for passengers as much as possible.

The Group’s total international capacity for the same period will fall from 30 per cent to around 20 per cent of pre-COVID levels. This reduction is driven by increased travel restrictions in countries like Japan, Thailand and Indonesia and is mostly impacting Jetstar’s leisure routes. Other markets – such as London, Los Angeles, Vancouver, Johannesburg and India – continue to perform well.

Customers will be contacted directly from late January if their booking is impacted by cancellations and offered alternative flights that in most cases are likely to be a difference of a few hours if travelling domestically.

Qantas and Jetstar continue to have 100 per cent of their available Australian-based crew stood up, which has helped to minimise the resourcing impacts of some needing to self-isolate during the summer peak. This 100 per cent crewing level will be maintained despite the capacity reductions announced today, giving both airlines a significant buffer to manage ongoing isolation requirements and resulting in a more reliable schedule for passengers.

An assessment on the financial impact of these changes will be given at the Group’s half year results in late February, by which time a clearer picture will have emerged on swing factors such as actual demand levels; potential loosening or tightening of travel restrictions in countries overseas; and consumer response to the reopening of Western Australia next month. No material adjustments have been made to capacity expectations for Q4 FY22.

To give customers more confidence when they book international and domestic flights, Qantas has extended Fly Flex, which enables customers to change their travel dates as often as they need, fee-free (a fare difference may apply).

777 Partners Orders 30 Additional Boeing 737 MAX Airplanes

December 10, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and 777 Partners have announced the Miami-based investment firm will nearly double its 737 MAX order book with the purchase of 30 additional jets. The new order expands 777 Partners’ commercial aircraft portfolio to a total of 68 737 MAX’s, in its fourth order this year for the fuel-efficient, single-aisle jets. Valued at $3.7 billion at list prices, the order will enable 777 Partners to expand 737 MAX operations across the fleet of its affiliated global low-cost carriers.

The 737 MAX family reduces fuel use and carbon emissions by at least 14% compared to the airplanes it replaces, reducing operating costs as well as the environmental footprint for 777 Partners’ affiliated airlines. Every 737 MAX features a passenger-pleasing Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

777 Partners is a Miami-based private alternative investment firm that invests across a number of high growth attractive verticals. Founded in 2015, 777 Partners initially applied its expertise in underwriting and financing of esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators, and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation.

ATR Appoints Tiziana Masullo as Managing Director and President of ATR Americas

February 9, 2021 / WIL BALDWIN

Toulouse, 9 February, 2021 – ATR has appointed Tiziana Masullo Managing Director and President of ATR Americas, a subsidiary of ATR, effective from December 2020. Based in Miami, Tiziana previously served as Vice President of Services Sales and Contracts, and succeeds Jurgen Lebacs. Tiziana will oversee a staff of 32 people, covering the following areas: Technical support and Safety, Training and Flight Ops, Services Sales and Contracts, Customer Material Support, GMA & Repairs, CSDs and FSR, Finance and Human Resources.

After graduating from ITC Serra with a diploma in Foreign Languages and Literature, Tiziana began her career with Leonardo, before moving to ATR where she has spent 27 years. With a lengthy background and many leadership positions in Training, Flight Operations and Services Sales, as well as Contract Negotiation, Tiziana brings a wealth of experience to her new role. She is also the first woman to lead one of ATR’s subsidiaries.

Tiziana has two children, David who is 22 years old and is studying sociology at London School of Economics in London, and Nikita who is 18, who lives in Miami studying to be a veterinary assistant.

Embraer Carries Out First Aircraft Financing Transaction With SkyWest Airlines

January 25, 2021 / WIL BALDWIN

Embraer (NYSE: ERJ) carried out its first aircraft non-payment insurance (ANPI) transaction financing the delivery of four Embraer E175 jets to SkyWest, Inc. (NASDAQ: SKYW). The transaction, completed in December 2020, was supported by the Aircraft Finance Insurance Consortium (AFIC), designed by Marsh and was underwritten by AXIS Insurance and Sompo International. The lender for the transaction is the Brazilian Development Bank (BNDES).

This transaction is a major achievement for the aircraft finance industry being the first AFIC-supported transaction for regional jets, the first AFIC-supported financing for an airline based in the United States, and the first AFIC-supported financing for commercial aircraft funded by an export credit agency (ECA).

AFIC´s insurance product provides additional flexibility in financing Embraer aircraft and could be used with ECA, bank, and capital markets funding, enhancing the possible financing structures available for Embraer customers. The AFIC product improves the credit quality of aircraft finance transactions through the use of a robust non-payment insurance policy underwritten by investment grade-rated insurance companies. It further reduces overall costs of financing while offering many other benefits to Embraer customers such as flexibility of terms and faster implementation.

Embraer’s relationship with SkyWest dates back to 1986, when SkyWest began operating the EMB 120 Brasilia turboprop. Since 2013, SkyWest has purchased more than 180 E175 jets.

Embraer is the world’s leading manufacturer of commercial jets with up to 150 seats. The Company has 100 customers from all over the world operating the ERJ and E-Jet families of aircraft. For the E-Jets program alone, Embraer has logged almost 1,800 orders and 1,600 deliveries, redefining the traditional concept of regional aircraft.

MGM Growth Properties Announces Pricing Of Upsized Senior Notes Offering

November 17, 2020 / WIL BALDWIN

LAS VEGAS, Nov. 17, 2020 /PRNewswire/ — MGM Growth Properties Operating Partnership LP (the “Operating Partnership”) and MGP Finance Co-Issuer, Inc. (together, the “Issuers”), consolidated subsidiaries of MGM Growth Properties LLC (NYSE: MGP) (the “Company”), have priced $750 million in aggregate principal amount of 3.875% senior notes due 2029 (the “notes”) at par. The $750 million aggregate principal amount of the notes represented an increase of $250 million from the original offering size of $500 million. The offering is expected to close on November 19, 2020, subject to customary closing conditions.

The Issuers plan to use the net proceeds of the offering for general corporate purposes, which may include the redemption of up to $700 million of the Operating Partnership units held by MGM Resorts International (“MGM”) should MGM elect to exercise certain rights it holds to cause the redemption of such units for cash.

Click the link below to read the full story!

https://finance.yahoo.com/news/mgm-growth-properties-operating-partnership-222000038.html

Cash-Strapped El Al Israel Airlines Raises $148 Million

September 17, 2020 / WIL BALDWIN

TEL AVIV, Sept 16 (Reuters) – Cash-strapped El Al Israel Airlines raised $148 million in a government-mandated share offering on Wednesday that will enable it to receive a state bailout package.

In a regulatory filing in Tel Aviv, Israel’s flag carrier said it sold 753.35 million new shares at 0.671 shekels ($0.1963) each.

Its stock earlier had closed 5.6% higher at 0.774 shekel.

Demand reached 654 million shekels while El Al accepted 505 million shekels ($148 million) worth.

El Al did not give further details of the offering which took the total number of shares outstanding to above 1.2 million.

But Israeli media reported that Eli Rozenberg had obtained a controlling stake via the offering, with 44.9% of the airline’s shares. He is the son of American businessman Kenny Rozenberg, CEO of New York-based nursing home chain Centers Health Care.

Rozenberg in July had offered to funnel $75 million into the airline in return for a 44.99% stake.

An El Al spokesman said he could not immediately confirm the reports about Rozenberg’s bid.

Newspapers said the state’s overall stake would now be as much as 15.5%, while the current controlling shareholder – Knafaim Holdings – would see its stake fall to about 15%.

Israel’s Finance Ministry said it paid $34 million for its shares and that although it pledged a $150 million safety net, it was barely needed.

“The results of the offering express investors’ trust in the company’s business plan and in state aid,” it said in a statement.

El Al has been hit hard by the coronavirus outbreak and the government has for months offered to intervene to help it avoid bankruptcy.

That has included mandating a share offering and steep spending reductions to receive a $250 million loan that will be 75% backed by the government and used partly to pay back customers whose flights were cancelled.

The airline has reported losses for two years running, racked up debt to renew its fleet, and suspended flights when Israel closed its borders and furloughed most of its employees.

($1 = 3.4185 shekels) (Reporting by Rami Ayyub and Steven Scheer; Editing by Andrew Cawthorne)

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