Sun Country Airlines,a small Minnesota-based, low-cost carrier owned by private-equity firm Apollo Global Management, plans to file for an initial public offering as soon as April, Sun Country’s CEO said Tuesday in an interview.
“Our earnings are supportive,” Jude Bricker told Skift at the International Aviation Forecast Summit in Las Vegas. “I think there’s a market for an airline that is growing.”
If Sun Country were to go public next year, it would be a fast turnaround for Apollo, which acquired the airline in December 2017. The previous owners, Mitch and Marty Davis, who also control Cambria, a maker of stone countertops, had managed Sun Country more like a family business than a medium-sized airline. Apollo has cut costs and changed the model, dropping first class, adding fees and making more it like Frontier Airlines or Spirit Airlines than an undersized competitor to Delta Air Lines or American Airlines.
CHICAGO/WASHINGTON, Aug 22 (Reuters) – The U.S. Federal Aviation Administration said on Thursday it would invite Boeing 737 MAX pilots from across the world to participate in simulator tests as part of the process to recertify the aircraft for flight following two fatal crashes.
Earlier, Reuters reported that the agency had asked the three U.S. airlines that operate the MAX to provide the names of some pilots who had only flown the 737 for around a year, including at least one MAX flight.
In a statement, the FAA said it had not specified the number of required hours of flight experience, but said the candidates would be a cross-section of line pilots and must have experience at the controls of the MAX.
Boeing Co’s latest 737 narrow-body model, the MAX, was grounded worldwide in March after two crashes within five months in Indonesia and Ethiopia that killed 346 people.
Boeing has been reprogramming software for a stall-prevention system at the center of both crashes, which the FAA must approve before the plane flies again commercially.
The FAA said it had not yet specified a firm schedule for the tests.
Boeing has said it is working toward getting the 737 MAX flying again commercially in the early fourth quarter. Reuters reported on Thursday that it had told suppliers it planned to ramp 737 production back up in February, sending its shares 4% higher.
The world’s largest planemaker slowed its 737 production rate in April because deliveries of the MAX, which makes up the bulk of its single-aisle production, were frozen under the grounding, hitting its supply chain and airline customers.
In the United States, MAX operators Southwest Airlines Co , American Airlines and United Airlines have had to cancel hundreds of daily flights as they wrestle with slimmer fleets at a time of strong domestic air travel demand.
The MAX is Boeing’s fastest-selling aircraft, with about 5,000 pending orders.
As part of its own testing process, Boeing has invited senior airline pilots to experiment with the software fix and use simulators to run scenarios similar to the ones that led to the two crashes.
But sources told Reuters that the FAA also wanted to observe newer 737 pilots. One source said the simulator tests were supposed to be conducted during the first week of September but had been pushed back to the middle of the month.
The FAA, which is working alongside global regulators, has said repeatedly it does not have a fixed time line to approve the grounded jets to fly commercially again.
(Reporting by Tracy Rucinski in Chicago and David Shepardson in Washington; Additional reporting by Eric M. Johnson in Seattle; Editing by Matthew Lewis and Peter Cooney)
PEBBLE BEACH, Calif. (Reuters) – Italian premium sports car maker Ferrari NV will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche’s annual sales volume, Ferrari Chairman John Elkann told an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast.
Elkann also reiterated that Fiat Chrysler Automobiles NV, of which he is chairman, remains open to opportunities to combine with other automakers, but is positioned to remain independent. Fiat Chrysler in May proposed a merger with French automaker Renault SA, but the deal fell apart after the French government intervened and Elkann withdrew the proposed merger.
Fiat Chrysler Chief Executive Mike Manley sent the same message to Renault and other would-be partners earlier this month.
Elkann visited Pebble Beach during the annual Concours d’Elegance, during which wealthy collectors bring some of the world’s rarest vintage automobiles to be admired — and sold — and premium manufacturers showcase exotic new models.
Ferrari is best known for flashy, high performance sports cars. Among fans of vintage Ferraris, more understated GT, or grand touring, cars from the 1960s, some with seating for four people, are among the most popular models on auction blocks and at enthusiast events. GT cars were designed to be comfortable on longer road trips.
Elkann hinted Ferrari will unveil a new GT type car in November. Ferrari has said previously that about 40% of its total sales could come from GT cars by 2022, up from 32% now.
Ferrari has outlined plans to expand revenue to 5 billion euros ($5.54 billion) by 2022 from 3.4 billion euros in 2017. The company has said it plans to add a model called the Purosangue to compete with a growing stable of sport utility vehicles wearing premium sports car brands, such as the Lamborghini Urus.
Rival Porsche AG, a unit of Volkswagen AG, has expanded its sales to more than 250,000 sports cars and sport utility vehicles annually. Elkann said Ferrari is not aiming for Porsche’s level of sales.
Authorized MDHI Sales Agent International Defense & Aerospace Group welcomes the first of up to 3 new, state-of-the-art MD 530F helicopters to be used for tactical and NVG flight training
MD Helicopters, Inc. (MDHI) is proud to announce the sale and delivery of a new MD 530F to International Defense & Aerospace Group, LLC (IDAG), a Pennsylvania-based authorized sales agent. The company’s first state-of-the-art MD 530F aircraft with a production all-glass cockpit, the custom-configured F-model will join an IDAG fleet of training aircraft operated by the Slovak Training Academy that also includes five (5) MD 500E-model helicopters. Its primary role will be to support the tactical and NVG flight training needs of military and paramilitary helicopter pilots from around the world.
“We are excited about the sale of this MD 530F, and the opportunity to have military and paramilitary pilots from around the world train in the MD 530F,” said Lynn Tilton, MD Helicopters, Inc. Chief Executive Officer. “MD Helicopters and International Defense & Aerospace Group are aligned in our commitment to delivering excellence in product quality, support and training, and in our belief that the MD 500E and MD 530F airframes offer the best performance in their class for training, law enforcement and military operations.”
An authorized MDHI Sales Agent for select Central and Eastern European opportunities since 2017, International Defense & Aerospace Group (IDAG) focuses on the sale and service of specialty rotorcraft solutions to military and paramilitary operators throughout Central and Eastern Europe. Global airborne law enforcement, military, and Special Forces operators worldwide also recognize IDAG for offering a comprehensive curriculum of transition and tactical flight training.
“We believe in the quality, proven performance and durability of MD Helicopters’ aircraft,” said Bob Caldwell, President and CEO of IDAG. “The MD 500-series helicopters are perfectly suited for training missions. They are incredibly robust, economical to operate, and have an unmatched safety record.”
IDAG also supports fleet operations and flight crew training for several regional national police agencies and operators.
Configuration
Powered by the Rolls-Royce 250-C30 650shp turbine engine, IDAG’s right-hand command MD 530F is the first type-certified 369FF aircraft to be produced with the company’s all-glass cockpit, and also features NVIS cockpit lighting, extended landed gear, and a 21-gallon Fargo auxiliary fuel tank.
“The MD 530F is one of our most versatile airframes,” Tilton concludes. “It is a proven performer with military and paramilitary operators worldwide, and delivers the overall performance, reliability and mission flexibility required by our growing global base of operators. We congratulate IDAG on this acquisition decision and look forward to the continued growth of their MD Helicopters fleet.”
VIDEO & IMAGE ASSETS: Click here to view a short video featuring this new, multi-mission, multi-role MD 530F. High-resolution images can be requested via MD Helicopters
July 2 (Reuters) – Automakers including Fiat Chrysler Automobiles NV and Hyundai Motor Co on Tuesday reported a rise in U.S. sales for June, lifted by strong demand for sport utility vehicles and trucks.
Automakers have focused on selling the more profitable larger SUVs and trucks and had offered heavy discounts of up to 30% or more on their most popular models in June amid a slowdown in the broader market.
U.S. auto sales are slowing after a long bull-run that has satiated replacement demand.
Fiat Chrysler said its sales rose 1.9% to 206,083 vehicles in June, driven by a 45% surge in sales of its Ram trucks.
Hyundai said its sales rose 1.5% to 64,202 vehicles in the month, boosted by a 36% increase in sales of its Santa Fe sport utility vehicles.
GM and Ford are yet to report their sales numbers.
Mitsubishi Motors North America Inc said its June sales rose 10.5% to 12,317 vehicles due to an increase in sales of its seven-seater Outlander and Eclipse Cross SUV’s.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shinjini Ganguli and James Emmanuel)
SINGAPORE (Reuters) – Australia’s Qantas Airways Ltd said on Wednesday it would order 10 Airbus SE A321XLR jets and convert another 26 from a prior order to the new long-range model.
That will take its total A320neo family order to 109 planes, from 99 previously.
The A321XLR jets, to be delivered from mid-2024, have a 4,700 nautical mile range that will allow Qantas or its low-cost arm Jetstar to perform longer-range flights in narrow body jets.
“It can fly routes like Cairns-Tokyo or Melbourne-Singapore, which existing narrow-bodies can’t, and that changes the economics of lots of potential routes into Asia to make them not just physically possible but financially attractive,” Qantas Chief Executive Alan Joyce said in a statement.
Jetstar operates an A320 narrow body fleet, but Qantas uses the rival Boeing 737. Joyce said the A321XLR had plenty of potential uses across both airlines and it would decide closer to the date on where they would be deployed and if they would be used for growth or to replace older jets.
Jetstar is due to receive 18 A321LR jets from 2020 to 2022 and plans to deploy them on domestic and international routes.
The additional 10 jets are valued at more than $1 billion at Airbus list prices, although airlines typically receive substantial discounts.
Qantas said it retained flexibility around the timing and structure of the deliveries depending on market conditions.
“All fleet decisions we make are ultimately guided by our financial framework, which balances our capital expenditure and need to invest for the future with our debt levels and ongoing returns to shareholders,” Joyce said.
Qantas is expected to decide next year on a replacement for its 75 737 jets, which comprise the backbone of its domestic fleet, Joyce said in February.
Contenders include the A320neo family, the 737 MAX and Boeing’s proposed new mid-sized airplane.
(Reporting by Jamie Freed; Editing by Himani Sarkar)
Paris, France, June 19, 2019 – Embraer announced today, at the 53rd International Paris Air Show, KLM Cityhopper’s intention to purchase up to 35 E195-E2 jets, 15 firm orders with purchase rights for a further 20 aircraft of the same model. This intention, which still requires a Purchase Agreement, has a value of USD 2.48 billion based on Embraer’s current list prices. The order will be added to Embraer’s backlog as soon as a firm contract is completed.
“With a fleet of 49 E-Jets, KLM is already the largest Embraer operator in Europe and adding KLM to the E2 family of operators would be a huge vote of confidence in Embraer, our after sales care, and the E2 programme. The aircraft uses 30% less fuel per seat compared to KLM Cityhopper’s current E190s. And in terms of aircraft noise, the aircraft is the quietest in its class both internally for passengers, and externally, by a significant margin*”, said John Slattery, President and CEO, Embraer Commercial Aviation.
KLM President & CEO Pieter Elbers, said, “Embraer has been a key partner for KLM and Cityhopper over the past ten years. Our customers appreciate the E190 and E175’s. The E2 would be a welcome addition to the KLM fleet, giving us greater capacity flexibility and help to manage down costs. In addition, the environmentally friendly E195-E2 also supports our sustainability goals with lower levels of noise and emissions.”
The economic and environmental performance of the aircraft makes the E195-E2 the ideal aircraft for growing KLM’s European business and supporting their hub-and-spoke operation, complementing the mainline fleet. This is why Embraer nicknamed the jet – The Profit Hunter.
KLM Cityhopper started the process of replacing its fleet of venerable Fokker aircraft for E-Jets in 2008, in order to enhance the existing network and to permit the efficient development of new routes. KLM Cityhopper’s all Embraer fleet currently has 49 E-Jets, the largest E-Jet fleet in Europe – 32 E190’s and 17 E175’s.
Embraer is the world’s leading manufacturer of commercial aircraft up to 150 seats with more than 100 customers from all over 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 fleet of 75 customers in 50 countries. The versatile 70 to 150-seat family is flying with low-cost airlines as well as with regional and mainline carriers.
Follow us on Twitter: @Embraer
*Note to Editors External noise technical information: the cumulative margin to ICAO Stage IV noise limit ranges from 19 to 20 EPNdB, 4.0 EPNdB better than its direct competitor.
About KLM Cityhopper
KLM Cityhopper is Europe’s largest regional carrier. In 2018 it operated more than 300 flights per day from Amsterdam Airport Schiphol to 72 European destinations. Since 2018, KLM Cityhopper’s fleet consists entirely of Embraer jets, including 32 E190’s and 17 E175’s. This will give KLM the single largest Embraer fleet in Europe.
SEOUL (Reuters) – South Korea’s biggest carrier Korean Air Lines said on Wednesday it has signed a memorandum of understanding to buy 30 Boeing planes for $9.67 billion.
The company said in a statement that it will buy 20 Boeing 787-10s and 10 more 787-9s to add to its existing fleet.
It is the first purchase for a South Korean carrier of a 787-10 model, the largest member of the Dreamliner family, the company said.
(Reporting by Hayoung Choi, Joori Roh; Editing by Shri Navaratnam)
FLINT, Mich. (Reuters) – General Motors Co president Mark Reuss said on Wednesday that the automaker is investing about $150 million at its Flint Assembly plant in Michigan, to boost production of heavy duty trucks by another 40,000 vehicles a year.
Reuss announced the investment at the Flint truck assembly plant wearing a United Auto Workers pin.
The Detroit automaker announced in February it was adding 1,000 jobs in Flint to build a new generation of heavy-duty pickup trucks.
GM did not say that the latest investment would add more jobs at the plant, but Reuss said there could be opportunities to add workers as the launch of the automaker’s new trucks progresses.
FILE PHOTO: A Chevrolet 2020 heavy-duty pickup truck is seen at the General Motors Flint Assembly Plant in Flint
GM has been under pressure from U.S. President Donald Trump and lawmakers of both parties to add jobs in the United States after it said last November it would idle a small car assembly plant in Lordstown, Ohio, and had no new products for three other U.S. manufacturing plants.
The Flint investment will include upgrades to the plant’s conveyors and other new tooling, and will be completed in the first half of 2020. GM has invested more than $1.6 billion in the plant since 2013.
Last month, GM said it would invest $24 million to increase truck production at its assembly plant in Fort Wayne, Indiana, which makes Chevrolet Silverado and GMC Sierra models.
FILE PHOTO: The frames of Chevrolet 2019 heavy-duty pickup trucks sit on the assembly line in the paint department at General Motors Flint Assembly Plant
Sales of heavy-duty pickups in the United States have grown to more than 600,000 vehicles a year, up more than 20 percent since 2013, according to industry data. Prices for luxury models can easily top $70,000.
GM’s Chevrolet and GMC brands have long trailed Ford Motor Co’s F-series heavy duty trucks in the lucrative segment. The new Chevrolet and GMC heavy duty trucks have been re-engineered to tow heavier trailers, and keep pace in what has become an arms race among the Detroit Three automakers to claim superior torque and towing capability.
(Reporting by Joe White in Detroit and Sanjana Shivdas in Bengaluru; Editing by Sriraj Kalluvila and Nick Zieminski)
FILE PHOTO: A General Motors Co. assembly worker does quality control checks on the paint of Chevrolet 2019 heavy-duty pickup trucks in Flint
LAS VEGAS (AP) — A company backed by tech billionaire Elon Musk has been awarded a nearly $49 million contract to build a transit system using self-driving vehicles underneath the Las Vegas Convention Center.
The board of directors of the Las Vegas Convention and Visitors Authority approved the contract Wednesday with The Boring Company, the Musk-backed enterprise based in Hawthorne, California.
People would be transported underground on self-driving electric vehicles from three types of Tesla Model X chassis. The system will be capable of transporting up to 16 people at time through parallel tunnels, each running in a single direction. The twin tunnel system will run less than a mile (1.6 kilometer) long.
The system also will include a pedestrian tunnel and three underground stations accessible from convention center’s halls.
The company plans to immediately pursue permits to start construction in September. It aims to debut the system by December 2020.
“The first thing that’s important is to get it right,” Authority President and CEO Steve Hill told the Las Vegas Review-Journal . “We want to do it as quickly as possible, but we want our customers to be comfortable with it.”
Las Vegas Mayor Carolyn Goodman cast the only vote against the project. At a meeting last week, she cited concerns about hiring a company that has yet to deliver a transit system.
The authority will reimburse the company as it completes certain stages of the project, like completing excavation for the first station and digging the first 100 feet (30.5 meters) of the first tunnel. Full payment is contingent on the company demonstrating that the system can support an average of 4,400 passengers per hour.
Construction will be able to proceed without disruption to traffic or other surface activity, Hill said. The system also could be expanded, which could be part of the solution to the city’s transportation problems, he said.
