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.
Boeing [NYSE: BA] and Atlas Air Worldwide announced an agreement to purchase four 747-8 Freighters. The order enables Atlas Air to leverage the operational advantages of the 747-8 Freighter to meet growing cargo demand around the globe.
“The 747-8F is the best and most versatile widebody freighter in the market, and we are excited to bolster our fleet with the acquisition of these four aircraft,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer. “This significant growth opportunity will enable us to capitalize on strong demand and deliver value for our existing and prospective customers. The efficiency and capability of the 747-8F further complements our longstanding focus on leading edge technology. Dedicated freighters – like those operated by our Atlas, Polar and Southern subsidiaries – will continue to be in demand as the global airfreight market, particularly the e-commerce and express sectors, continues to grow.”
With a maximum payload capacity of 137.7 metric tonnes (137,750 kg), the 747-8 Freighter allows customers to access 20% more payload capacity while using 16% less fuel compared to previous-generation 747s. The jet also features 30% quieter engines. The 747-8 airplanes in this agreement will be the final four aircraft to roll off the production line in Everett, Washington.
“The 747 will forever hold a special place in aviation history and we are honored by Atlas Air’s longstanding commitment to the airplane. Atlas Air began operations 28 years ago with a single 747 and it is fitting that they should receive the last 747 production airplanes, ensuring that the ‘Queen of the Skies’ plays a significant role in the global air cargo market for decades to come,” said Stan Deal, president and chief executive officer of Boeing Commercial Airplanes. “With the global air cargo fleet expected to grow by more than 60% over the next 20 years, we look forward to delivering these airplanes and supporting Atlas Air’s Boeing fleet well into the future.”
Atlas Air has 53 747s in its current fleet, making it the largest 747 operator in the world. Its world-class fleet also includes 737s, 767s and 777s. The 747 and 777 models, in particular, are capable of carrying tall and outsized cargo loads on 3-meter-high (10-foot-tall) pallets. This common main-deck pallet height supports interchangeable pallets, adding to the versatility of both models.
Boeing, the market leader in air cargo aircraft, provides more than 90% of the dedicated freighter capacity around the world, including new production and converted freighters. The 747 program has produced 1,560 aircraft since launching the jumbo jet more than 50 years ago. In July 2020, Boeing announced its decision to complete production of the 747-8 in 2022.
A crowd that included Air Force leadership, congressional representatives and senators, executives and plant personnel from the Lockheed Martin Aeronautics Corporation attended a ceremony dedicating the delivery of the final F-22 Raptor in Marietta, Ga., May 2. (U.S. Air Force photo/Don Peek)
From Reuters News – Reporting by Mike Stone in Washington, D.C., Editing by Greg Roumeliotis
Dec 20 (Reuters) – Lockheed Martin Corp (NYSE: LMT) said on Sunday that it has agreed acquire U.S. rocket engine manufacturer Aerojet Rocketdyne Holdings Inc (NYSE: AJRD) for $4.4 billion, including debt and net cash.
The deal is Lockheed’s biggest acquisition since Jim Taiclet took over as chief executive in June. He is seeking to beef up the company’s propulsion capabilities amid competition from new entrants such as SpaceX and Blue Origin, for space contracts with the U.S. government.
“Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base and reduce costs for our customers and the American taxpayer,” Taiclet said in a statement.
Lockheed said it will pay $56 per share for Aerojet Rocketdyne, a 33 percent premium to Friday’s closing price. The purchase price will be reduced to $51 per share after the payment of a pre-closing special dividend, Lockheed added.
The Bethesda, Maryland-based company already uses Aerojet Rocketdyne’s propulsion systems in its aeronautics, missiles and fire control offerings.
Lockheed said the transaction, which is set to be scrutinized by regulators given the company’s leading position in the defense sector, is expected to close in the second half of 2021.
A crowd that included Air Force leadership, congressional representatives and senators, executives and plant personnel from the Lockheed Martin Aeronautics Corporation attended a ceremony dedicating the delivery of the final F-22 Raptor in Marietta, Ga., May 2. (U.S. Air Force photo/Don Peek)
ATR, the world number one regional aircraft manufacturer, has released two new editions of its Upgrades Catalogues. They now offer 120 solutions – developed either internally or externally – to ATR operators wishing to upgrade their aircraft with state-of-the-art designs and capabilities.
The creation of a catalogue of external changes – Supplemental Type Certificates (STC) and minor modifications developed and provided by external Design Organisation Approval (DOA) partners – is a major step forward for the market-leading turboprop manufacturer. ATR can now complement its own expertise with the know-how and resources of reliable external partners – Aero Engineering Services, Akka Technologies, ECM Skyservices, Eirtech Aviation Services, PMV Engineering and Recaero.
With solutions ranging from cabin reconfigurations, in-flight entertainment systems and avionics upgrades, to freighter conversions, ATR operators have access to a vast range of possibilities for their brand new or second-hand aircraft to explore new business opportunities, and enhance passenger experience and aircraft performance. All of these solutions have been either developed by ATR or benefit from the manufacturer’s expertise, which guarantees their optimal integration within the aircraft environment.
Popular, the leading financial institution in Puerto Rico, and JetBlue (Nasdaq: JBLU), the largest airline in Puerto Rico, today unveiled their new partnership with the launch of two new credit cards for customers in Puerto Rico. As trusted brands on the island, both remain committed to the growth of Puerto Rico. With the new JetBlue Mastercard and the JetBlue Mastercard Eleva from Popular, every dollar gets cardmembers closer to traveling to the destination of their choice. Both cards provide an opportunity for customers to earn TrueBlue points – which never expire – even faster and on everyday purchases.
As an added benefit, both products offer a welcome bonus of either 5,000 or 25,000 TrueBlue points by meeting the purchase requirement during the first 90 days of opening the credit account. Both cards feature contactless technology that allows the customer to pay by bringing the credit card close to the Contactless Symbol of a payment terminal.
With this launch, the JetBlue Mastercard becomes the only travel card in Puerto Rico without an annual fee that allows customers to earn points for each purchase. JetBlue purchases will accumulate two TrueBlue points per $1 spent. All other purchases—groceries, restaurants, gasoline, etc.—accumulate one point per $1 spent.
The JetBlue Mastercard Eleva card, with a $99 annual fee, allows cardmembers to earn three TrueBlue points per $1 spent on JetBlue purchases and one point per $1 spent on all other purchases. This card also has additional benefits, such as a free checked bag for the cardmember and up to three travel companions when the card is used to purchase flights operated by JetBlue. It also provides a $100 annual statement credit on the purchase of a JetBlue Vacations package.
The TrueBlue loyalty program rewards members, regardless of their travel frequency. There are no blackout dates with all seats available for redemption, and points never expire. Members earn points for every dollar spent on the base fare for JetBlue-operated flights and bonus points by booking directly on jetblue.com, depending on the fare option selected. For more information regarding these products, interested parties may visit www.popular.com/jetblue.
Leading carriers, including Alaska Airlines, Japan Airlines, and All Nippon Airways, choose Boeing Global Services supply chain support despite current market challenges
Digital solutions enhance operational efficiency with data-driven analytics
Boeing [NYSE: BA] announced a number of services orders and agreements to support international customers, streamline their operations and enhance their future growth. These supply chain solutions will simplify customers’ asset and maintenance management, inventory and operating costs, while improving parts availability. The agreements for Boeing’s digital solutions will provide cost savings fleet-wide, enhance airline crew situational awareness and increase operational efficiency. “As airlines and operators continue to respond to the current challenges facing the global air travel industry, our partners are moving forward, integrating creative solutions to continue connecting people around the world,” said Ted Colbert, president and CEO, Boeing Global Services. “Boeing is working closely with our customers around the world, delivering the customized solutions they need to improve operational efficiency, support their fleets, and reduce their costs.”
Supply chain agreements include:
Alaska Airlines signed its largest consumable and expendable services agreement, with a multiyear agreement for solutions which include a Tailored Parts Package and Quick Engine Change kits. The agreement supports Alaska’s fleet of Boeing 737 airplanes and provides price and availability benefits that allow the airline to streamline its maintenance operations. The Tailored Parts Package consists of 2,900 part numbers. Throughout the term of this three-year agreement, Boeing anticipates the shipment of nearly 800,000 parts and four Quick Engine Change kits, which will be used to configure spare engines to allow for quick return of an airplane to service when an engine needs to be repaired or replaced.
All Nippon Airways, the largest airline in Japan, announced a partnership with Boeing Global Services to install a 787-9 galley facility in its new training center to enhance crew training opportunities. All Nippon Airways also signed an agreement for ten 767 Quick Engine Change kits.
Agreements for data-driven solutions include:
Xiamen Airlines, Japan Airlines, and All Nippon Airways have signed agreements to acquire the Optimized Maintenance Program that combines advanced data analytics with Boeing’s engineering expertise to help airlines achieve greater airplane availability and more efficient maintenance operations. To date, the Optimized Maintenance Program has been delivered to 24 airlines and approved by their local regulatory agencies to support a total of 2,519 Boeing airplanes across several models. Xiamen is the first airline in China to adopt the program.
A number of customers in China, including Suparna Airlines, Zheijiang Loong Airlines, West Air, Guangxi Air, Urumqi Air, and Air Changan signed agreements for Boeing digital solutions that enhance operational efficiency, further streamline paperless operations in the flight deck, and optimize flight planning capabilities. Boeing provides tailored charting for more than 74 percent of the commercial aviation market; supplies digital navigation data to more than 58 percent of global airlines; and delivers flight deck solutions to 67 percent of the world’s airlines. Overall, two-thirds of all global airline flights use Jeppesen FliteDeck Pro electronic flight bag (EFB) navigation and charting applications on a daily basis.
Vistara, an Indian full-service carrier and a joint venture of Tata group and Singapore Airlines, has added to their suite of Boeing Global Services crew solutions with a multiyear agreement for Crew Pairing to improve operational and readiness efficiency and reduce airline costs. The solution will help optimize crew planning operations for approximately 1,100 crew members across Vistara’s 40 Boeing and Airbus aircraft.
Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. A top U.S. exporter, the company supports commercial and government customers in more than 150 countries. Boeing employs more than 160,000 people worldwide and leverages 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.
Alstom, a global leader in integrated solutions for sustainable mobility, and Snam, one of the world’s leading energy infrastructure companies, have signed a five-year agreement to develop hydrogen trains in Italy.
The agreement, after the conclusion of the first phase dedicated to feasibility studies planned in Autumn, aims to develop, already at the beginning of 2021, railway mobility projects including both hydrogen-powered trains and the related technological infrastructure, as well as management and maintenance services.
As part of the agreement, Alstom will manufacture and maintain newly built or converted hydrogen trains, while Snam will develop the infrastructures for production, transport and refuelling.
This co-operation stems from the joint commitment of the two companies on hydrogen: Alstom has launched the Coradia iLint, the first fuel cell train in the world, which has successfully been in service for one year and half on a regional route in Germany, while Snam has been one of the first companies in the world to experiment a 10% hydrogen injection into the natural gas transportation network.
Super Hornet to become the fourth Boeing platform for the flight demonstration team.
Boeing has modified Blue Angels since 2008 and delivered 23 aircraft to date.
Boeing [NYSE: BA] has delivered the first Super Hornet test aircraft for the U.S. Navy’s Blue Angel flight demonstration squadron. The unpainted aircraft now enters the flight test and evaluation phase at Naval Air Station Patuxent River in Maryland. Boeing expects to deliver a total of 11 aircraft for the squadron in 2020.
“The Super Hornet is an iconic representation of excellence in naval aviation,” said ret. Admiral Pat Walsh, vice president of U.S. Navy & Marine Corps Services for Boeing. Walsh flew with the Blue Angels from 1985 to 1987 as the Left Wingman (#3) and Slot Pilot (#4). “As Boeing continues to support the operational fleet of Navy Super Hornets, we are excited to see this platform enter a critical phase of its journey to joining the team.”
The flight demonstration squadron has flown Boeing or Boeing-heritage aircraft for more than 50 years, starting with the F-4J Phantom II in 1969, and then moving to the A-4F Skyhawk. The team currently operates the F/A-18A-D Hornet.
Boeing converts F/A-18 Hornets and Super Hornets into Blue Angels at the company’s Cecil Field facility in Jacksonville, Florida. Major modifications include the addition of an oil tank for the smoke-generation system, fuel systems that enable the aircraft to fly inverted for extended periods of time, civilian-compatible navigation equipment, cameras and adjustments for the aircraft’s center of gravity.
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. 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.
Five-Star Resort Returns With Full Array of Luxury Amenities and Industry-Leading Health & Safety Plan
LAS VEGAS, May 27, 2020 /PRNewswire/ — Wynn Las Vegas (Nasdaq: WYNN) announced today a reopening date of Thursday, June 4, under phase two of the Nevada United: Roadmap to Recovery plan from Governor Steve Sisolak. As the largest five-star resort in the world, Wynn Las Vegas plans to offer guests a complete Las Vegas experience by opening every amenity and outlet available. Both hotel towers and the casino as well as all restaurants will reopen on June 4, followed by the resort’s newest restaurant, Elio, later in the month. Every effort has been made to present Wynn’s complete luxury experience and provide guests with the peace of mind needed to enjoy a fun and relaxing return.
In preparation, the Company has created a comprehensive new Health & Safety Plan that is now considered the gold standard in the hospitality industry.
“We are ready to provide our guests with a full Las Vegas experience with a collection of luxury amenities and unmatched service,” said Wynn Resorts CEO Matt Maddox. “At the same time, our extensive Health & Safety Plan, validated by the nation’s leading public health experts, will enable a safe environment for our guests. The entire Wynn team is looking forward to welcoming our guests back.”
Wynn will reopen withthe full Las Vegas experience guests expect and deserve, with everything conveniently and safely available under one roof, allowing for the perfect getaway. From lounging by pristine pools to lively late-night betting – and most everything in between – the very best of Wynn’s renowned glamour, excitement, and luxury will be available, including:
Both Wynn and Encore hotel towers
Two 24-hour casinos with a variety of table games and slots as well as the Race & Sports Book
The resort’s full portfolio of fine-dining restaurants, lounges, and casual eateries, several with outdoor seating on open verandas and patios
Expansive resort pools with private cabanas
Wynn’s 18-hole championship golf course
Nightly entertainment at the Lake of Dreams
Three retail esplanades
Full-service beauty salons, barber shop, spa treatments and fitness centers
In addition, several thoughtful new measures in social distancing, touchless technologies, and cleaning protocols have been incorporated throughout the resort in a clear and transparent effort to protect the well-being of all guests. Most notable among the enhancements are:
Non-invasive thermal temperature checks and face coverings provided at all entrances
Automatic hand sanitizer stations, UV Technology, and electrostatic sprayers will be utilized throughout the resort
Sealed guest rooms after meticulous sanitization by Wynn’s professional housekeeping staff
Amenity kits including sanitizing wipes, hand sanitizer, and face coverings in each guest room
Dedicated team of cleaning professionals sanitizing public guest areas 24 hours a day
Wynn employees are required to wear face coverings at all times, and most importantly, have all been tested for COVID-19 before returning to work.
The Wynn Resorts Health & Safety Plan was created in consultation with leading public health medical professionals from Georgetown and Johns Hopkins Universities in addition to recommendations from the U.S. Centers for Disease Control and Prevention (CDC), the Southern Nevada Health District (SNHD) and the Gaming Control Board (GCB). The full plan can be viewed on www.wynnlasvegas.com.
Aircraft is first of 20 CH-47F Chinooks to be delivered to RNLAF
Netherlands is one of eight NATO nations to operate the heavy-lift helicopter
Boeing [NYSE: BA] recently delivered the first CH-47F Chinook with an upgraded cockpit to the Royal Netherlands Air Force (RNLAF), continuing a track record of on-time deliveries to customers. The RNLAF will operate a fleet of 20 CH-47F Chinooks, the newest configuration in use by countries around the world.
“The RNLAF made it clear to us that they need the advanced, proven capability of the CH-47F now,” said Andy Builta, vice president of Cargo & Utility Helicopters and H-47 program manager. “I want to thank our phenomenal team for working hard during a difficult situation to safely deliver these aircraft. This is a reminder to all of us of how important Chinooks are to our customers.”
The 20 CH-47F Chinooks will be a fleet equipped with the same state-of-the-art technology as the U.S. Army, including digital automatic flight controls, a fully-integrated Common Avionics Architecture System (CAAS) glass cockpit, and advanced cargo handling capabilities. The common configuration leads to lower overall life cycle costs.
The RNLAF currently flies a mix of F-model Chinooks with the Advanced Cockpit Management System (ACMS) and CH-47D Chinooks.
“It has been a pleasure to work closely together with the U.S. Army and Boeing teams to achieve this milestone,” said Col. Koen van Gogh, Netherlands Defence Materiel Organisation. “The Chinook helicopter is a vital asset for our missions and the in-time delivery certainly supports our operational planning. I salute the Boeing workforce for their continued efforts to make this happen in these troubling times, as well as the U.S. Army officials that helped keep us on track.”
Deliveries to the RNLAF are expected to continue into 2021. Chinooks are currently in service or under contract with 20 international defense forces, including the U.S. Army, U.S. Special Operations Forces and eight NATO member nations.
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. Boeing employs more than 160,000 people worldwide and leverages 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.
