Tag: investment (Page 4 of 10)

Rolls-Royce to Design and Manufacture Propellers for U.S. Navy FFG-62 Frigates

April 27, 2021 / WIL BALDWIN

Rolls-Royce has reached agreement with Fincantieri Marinette Marine to design and manufacture up to 40 fixed-pitch propellers for the U.S. Navy’s Constellation-class (FFG-62) guided missile frigate program. Fincantieri was awarded the shipbuilding contract from the U.S. Department of Defense (DoD) in April 2020, to design and build the first FFG-62 class frigate. The program of record is for a total of 20 ships, with the first to be delivered to the U.S. Navy in 2026.

The first set of propellers (two per ship) is scheduled to be delivered to Fincantieri in 2023. The propellers will be manufactured in Rolls-Royce’s recently upgraded Pascagoula, Mississippi foundry and will be some of the first work to utilize the newly installed state-of-the-art equipment and renovated facility; funded through investments from the DoD, Rolls-Royce, Jackson County (MS) and the state of Mississippi.

Each propeller for the FFG-62 class frigate weighs more than an average passenger bus. The Rolls-Royce Pascagoula Foundry is one of only two facilities in the country qualified to cast propellers of this size for the U.S. Navy. In fact, ninety-five percent of the commissioned U.S. Navy surface fleet is equipped with Rolls-Royce propellers.

Naval components manufactured by Rolls-Royce at Pascagoula include controllable-pitch propeller systems, fixed-pitch propellers, and water jets.

Investment Firm 777 Partners Order 24 Boeing 737 MAX Airplanes

March 16, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and private investment firm 777 Partners announced today an agreement to add 24 737-8s to the firm’s diverse aviation portfolio, with purchase rights for an additional 60 airplanes. The Miami-based company will place the single-aisle airplanes with its growing portfolio of low-cost carrier investments around the world.

In addition to aircraft leasing, 777 Partners strategically invests in a host of aviation businesses, from operating carriers to technology-driven solutions. The firm’s travel sector strategy is largely focused on innovative solutions for interlining, passenger connectivity, and creating new commerce channels for its airline investments and customers.

The 737-8 can fly 3,550 nautical miles, about 600 miles farther than its predecessor. This additional capability allows airlines to offer new and more direct routes for passengers. The 737-8 reduces fuel use and CO₂ emissions by 16% compared to the airplanes it replaces, and that superior fuel efficiency means lower operating costs and a smaller environmental footprint. Every airplane features the new 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.

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As a top U.S. exporter, the company supports commercial and government customers in more than 150 countries, leveraging the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

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.

LATAM Announces Freighter Conversion of up to Eight Boeing 767-300ER

March 6, 2021 / WIL BALDWIN

LATAM Airlines Group (Santiago: LTM.SN) announced a significant expansion of its cargo operations with the conversion of up to eight Boeing 767-300ER aircraft into Boeing Converted Freighters (“BCF”) in the next three years. This represents a freighter capacity growth of up to 80%. This plan seeks to increase the service options and leverage the synergies of operating a single type of aircraft.

The plan is divided in two gradual stages. The first phase is based on four confirmed conversion slots with Boeing with re-deliveries between 2021 and 2022. Upon completion of that phase, LATAM’s cargo operators’ fleet would reach a total of 15 Boeing 767-300ER freighters. The second phase includes four conversion options with Boeing that would allow aircraft to be added between 2022 and 2023. If all options are executed LATAM would operate a total of 19 767-300ER freighters.

Throughout 2020, LATAM Cargo played an active and vital role in ensuring essential supplies reached Latin American countries, especially in places with extreme and difficult-to-access areas like in countries such as Brazil, Chile, Colombia, Ecuador, and Peru. LATAM also worked to safeguard the supply from the import and export sectors in South America, even increasing their shipment frequencies by more than 40% in some markets. To achieve these results, LATAM operated passenger planes for the exclusive transport of cargo.

In addition, during the pandemic, LATAM landed for the first time in China, searching for medical supplies for South America, ultimately making more than 80 flights to the Asian continent. LATAM currently continues to make trips to Europe and China to transport COVID-19 vaccines into the region, and the LATAM Group’s Solidarity Plane Program has made its resources available for the free transport of vaccines in domestic markets.

Virgin Australia Opens Lounge of the Future

February 26, 2021 / WIL BALDWIN

Virgin Australia has today revealed its Lounge of the future, with the opening of its highly anticipated Adelaide Airport Lounge. Designed by Brisbane’s WMK Architecture, the 283-seat Adelaide Lounge completes Virgin Australia’s network of seven domestic lounges across major airports around Australia. All future Lounge refurbishments around the domestic network will be done in line with this new and fresh design thinking.

The Lounge is true to the Virgin Australia brand, creating a warm, authentic and inviting environment for frequent flyers.

The contemporary design includes a breeze block feature wall upon entry, with canopy ceilings, before ceramic tiling leads guests into a large light-filled space, with the centre walkway leading guests to numerous dining and seating areas. Ambient lighting, bright greenery and Australian sustainable furniture completes the Lounge, making it a relaxed, inviting and uncomplicated place, to refresh and recharge in a delightfully Virgin way.

Virgin Australia CEO Jayne Hrdlicka said the new lounge was the first of many new and exciting products for customers following the airline’s re-launch.

Adelaide Lounge features

The Coffee Bar: An eye-catching central café seating area, transforming from a place to unwind over a coffee during the day, turning into a wine bar at night.

The Cellar Door Hub: With some of Australia’s most awarded wineries on the doorstep of Adelaide Airport, Virgin Australia has created a feature space for South Australian wineries to bring their cellar door to the Lounge for seasonal wine tasting.

Distinct dining areas: Separate dining areas with diverse functionality have been built adjacent to servery areas to cater to all guest’s eating preferences, including large social tables, and banquette seating for more private dining.

Tesla to set up electric car manufacturing unit in southern India

February 13, 2021 / WIL BALDWIN

From Reuters News by By Bhargav Acharya and Aakriti Bhalla…

BENGALURU, India, February 14 (Reuters) – Billionaire Elon Musk’s Tesla, Inc. (Nasdaq: TSLA) will set up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document seen by Reuters on Saturday.

“The U.S. firm Tesla will be opening an electric car manufacturing unit in Karnataka,” the state government said in a brief statement.

The statement was part of a broader document outlining the highlights of India’s budget to its people in the local language of Kannada.

Click on the link below to read the full story!

https://finance.yahoo.com/news/1-tesla-set-electric-car-190327441.html

Boeing Awarded Contract for 12 More KC-46 Tankers

January 14, 2021 / WIL BALDWIN

This week the U.S. Air Force awarded Boeing [NYSE: BA] a $1.7 billion contract for 12 KC-46A tanker aircraft. With this sixth production lot, Boeing is now on contract for 79 KC-46A tankers.

The company delivered the first KC-46A to the Air Force in January 2019. Since then, Boeing has delivered 42 tankers to four different bases. The next-generation KC-46 brings new capabilities and operational flexibility to the U.S. Air Force and international customers.

“The investments Boeing is making in the KC-46 today will benefit generations of service members,” said Jamie Burgess, Boeing KC-46 tanker vice president and program manager. “I believe the partnership between Boeing and the Air Force will also produce additional KC-46 innovations that will carry the warfighter well into the future.”

Boeing received its first two production lots from the U.S. Air Force, for seven and 12 aircraft, in August 2016. The third lot, for 15 aircraft, was awarded in January 2017; the fourth lot for 18 aircraft in September 2018 and the fifth lot for 15 aircraft in September 2019.

The KC-46A is a multirole tanker designed to refuel allied and coalition military aircraft compatible with international aerial refueling procedures. It’s also equipped to carry passengers, cargo and patients on any mission at any time.

Boeing is assembling KC-46A aircraft at its Everett, Wash. facility where it also continues production of the KC-46 tanker for Japan.

For more information on Defense, Space & Security, visit www.boeing.com

Southwest Airlines To Serve Fresno And Santa Barbara, California

December 16, 2020 / WIL BALDWIN

Southwest Airlines Company (NYSE: LUV) today shared its intention to bring service to Santa Barbara Airport and Fresno Yosemite International Airport in the second quarter of 2021.

“Our arrival in the Heart of California, both on the Central Coast and in the Central Valley, will round out nearly four decades of investment in our California Customers and communities,” Southwest Airlines Chief Commercial Officer & Executive Vice President Andrew Watterson said. “While other airlines seem to fall in and out of love with the state, we’re focused on increasing the reach of our low fares and flexible policies in places where we expect them to make a difference.”

“For years residents and businesses throughout Central California have expressed a desire for Southwest service and connectivity to their vast network of destinations and renowned customer service,” said Kevin Meikle, Director of Aviation for Fresno Yosemite International Airport. “Southwest will expand the Central Valley’s air transportation gateway to Yosemite, Sequoia and Kings Canyon National Parks, and we look forward to our new partnership with Southwest and their arrival in the spring.”

“We salute Southwest’s bold decision to enter one of the most vibrant and beautiful regions in California, bringing visitors to our sweeping coastline to experience our mild Mediterranean climate and distinctive Spanish-influenced architecture,” said Mayor Cathy Murillo of Santa Barbara. “For our residents, our partnership with Southwest will energize the economic rebound to come in 2021.”

Along with Palm Springs, which received its first Southwest flight on Nov. 19, 2020, the addition of Fresno and Santa Barbara will position Southwest Airlines as an option in 13 California airports before summer 2021, further deepening the carrier’s commitment to the Golden State. Southwest long has carried more air travelers to, from, and within California than any other carrier, a legacy sustained in the most recent reporting of U.S. Department of Transportation data on airline passengers traveling nonstop.

EmbraerX and Airservices Australia Release Concept for Urban Air Mobility

December 6, 2020 / WIL BALDWIN

EmbraerX, Embraer’s disruptive business subsidiary, and Airservices, Australia’s civil air navigation service provider, have developed a new concept of operations (CONOPS) for the air taxi market, also known as urban air mobility (UAM). Going forward, Eve Urban Air Mobility Solutions, the new EmbraerX spin-off, will be responsible for this partnership with Airservices and for the development of Urban Air Traffic Management solutions.

Australia is one of the countries benefitting from this innovation revolution and is attracting industry interest and investment, largely due to strong government support and a world-leading aviation safety record. This CONOPS was created to help safely introduce and accelerate the growth of the UAM market in Australia.

This CONOPS explores new and practical concepts to safely facilitate the introduction of the air taxi industry. Using the City of Melbourne, Australia as a model, the CONOPS examines how existing air traffic management solutions can initially enable UAM operations while simultaneously preparing for scale of operations through new traffic management technologies.

The CONOPS leverages Airservices’ sophisticated simulation technology to demonstrate how air taxis could be integrated with existing airspace users in the highly complex Melbourne airspace. This level of simulation provides a scientific basis to the CONOPS.

David Rottblatt, Project Leader for EmbraerX’s Urban Air Traffic Management and appointed to be the future Vice President of Business Development for Eve said, “This CONOPS proposes a safe method for allowing the UAM industry in Australia to scale. Following this first critical step, we will start gathering feedback from industry stakeholders and the community to further inform how we can co-create this exciting future.”

Happy 100th Birthday, Qantas Airlines!

November 15, 2020 / WIL BALDWIN

Queensland and Northern Territory Aerial Services (QANTAS) today marks 100 years since it was founded in the Australian outback.

On 16 November 1920, two veterans of the Australian Flying Corps, Hudson Fysh and Paul McGinness, together with local grazier Fergus McMaster, founded what would later become the national carrier.

This happened just 17 years after the first powered flight by the Wright Brothers, two years after the end of World War One and at the tail end of the last major global pandemic, the Spanish Flu.

The new airline focused on conquering the “tyranny of distance” that was a major barrier to the growth of modern Australia. Its early chances of success were uncertain, to the point early backers called their investment “a donation”.

Initially carrying mail between outback towns, the airline was flying passengers to Singapore by the 1930’s. By the end of the 1940’s its strategic importance saw it nationalised and in the 1960’s, it was an early adopter of the jet aircraft that mainstreamed global travel. Qantas invented business class in the 1970’s, switched to an all-747 fleet in the 1980’s, was privatised in the 1990’s, founded Jetstar in 2004, went through major restructuring in 2014 and, by 2020, had recently completed several important ‘firsts’ in non-stop travel to Europe and the US.

Qantas is the oldest continuously-operating airline in the world and the only one that (normally) flies to every single inhabited continent on earth.

Planned centenary celebrations have been significantly scaled back due to the impact of COVID-19, but Qantas will still mark the occasion with a low-level flyover of Sydney Harbour on the evening of its anniversary.

The flight path is expected to pass near Rose Bay where our Empire Flying Boats took off for Singapore between 1938 and 1942.

Qantas Chairman, Richard Goyder, said: “The history of Qantas shows it’s no stranger to a challenge or a crisis. That’s often when its role as the national carrier has really come to the fore.

“We want to use this moment to say thank you to all those who have supported Qantas over the years. And, in particular, to the many people who have dedicated some or all of their careers to this great company.”

Qantas Group CEO, Alan Joyce, said: “Around the world, Qantas is probably best known for its safety record, endurance flying and long list of aviation firsts. But for Australians, there’s nothing quite like seeing the flying kangaroo at the airport, waiting to take you home. We hope to be doing a lot more of that in the months and years ahead.”

Southwest Airlines Adding Service to Sarasota Bradenton Airport

November 15, 2020 / WIL BALDWIN

Southwest Airlines Co. (NYSE: LUV) today announced plans to expand its Florida service by adding flights at Sarasota Bradenton International Airport (SRQ) in the first quarter of 2021. Sarasota will be the carrier’s tenth airport served in the State of Florida and is the tenth airport in a list of new places to join the Southwest route map in the coming eight months as the carrier furthers its reach of friendly policies, iconic Hospitality, and value and comfort. Service details including the initial flight schedule and fares for Sarasota-Bradenton will be announced soon.

“We’ll arrive in Sarasota-Bradenton as Southwest marks 25 years of serving the Sunshine State. Our Customers who choose SRQ will land closer to their preferred beaches and business meetings, benefiting from our added investment in the growing region between our longtime cities of Tampa Bay and Ft. Myers,” Steve Goldberg, Southwest Airlines Senior Vice President of Operations and Hospitality said. “Locals who fly Southwest can also pair their preferred airline and airport, and get in the air faster with a shorter drive to SRQ.”

“We are thrilled to welcome Southwest Airlines to the Sarasota Bradenton International Airport (SRQ). This is especially significant during these challenging times in aviation,” Rick Piccolo, President, CEO of the Sarasota Bradenton International Airport said. “Southwest’s low fares and renowned customer service will provide the bi-county community, as well as our inbound visitors, with access to the vast network of destinations that Southwest Airlines serves.”

Previously announced Southwest service to Miami begins on November 15.

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