Tag: Purchase (Page 4 of 13)

Embraer Signs Major Services and Support Agreement with Porter Airlines

August 6, 2021 / WIL BALDWIN

After unveiling plans for a major expansion in North America with a firm order for 30 E195-E2 jets, with purchase rights for a further 50 aircraft, Porter Airlines has signed a major aftermarket support package contract with Embraer. The Total Support Program (TSP) agreement includes airframe heavy maintenance checks, technical solutions, and access to the Pool Program, which includes component exchanges and repair services for hundreds of reparable items for Porter’s E2 fleet of commercial aircraft, for up to 20 years. Currently, the Pool Program supports more than 50 airlines worldwide.

The Pool Program services will be provided by Embraer Aircraft Customer Services (EACS) in Fort Lauderdale, Florida, while the heavy maintenance services will be performed by Embraer Aircraft Maintenance Services (EAMS) in Nashville, Tennessee. In the coming months, Embraer will work with Porter in order to provide services related to the aircraft entry into service (EIS) process, which includes technical training, spare parts recommendations, and provisioning services.

Porter Airlines will be the North American launch customer for Embraer’s E-Jets E2 family of commercial aircraft. Porter’s investment is set to disrupt the Canadian aviation landscape by enhancing competition, elevating passenger service levels and creating as many as 6,000 new jobs. Porter intends to deploy the E195-E2s to popular business and leisure destinations throughout Canada, the United States, Mexico and the Caribbean, from Ottawa, Montreal, Halifax and Toronto Pearson International Airport.

Porter’s first delivery and entry into service is scheduled to start in the second half of 2022. The E195-E2 accommodates between 120 and 146 passengers. Configuration plans for Porter’s E2s will be revealed in due course.

Aerial view of the Canadian rockies mountains in the Banff national park, Canada

Porter Airlines Orders up to 80 Embraer E195-E2 Jets to Lead Major Expansion Plan

July 12, 2021 / WIL BALDWIN

Porter Airlines has unveiled plans to extend its award-winning service to destinations throughout North America with a firm order for 30 Embraer E195-E2 jets, with purchase rights for a further 50 aircraft. The deal will be included in Embraer’s second quarter backlog, and is worth USD5.82 billion, at list price with all options exercised. First revealed in May 2021, this announcement adds the purchase rights and the customer name, which had been undisclosed.

Porter Airlines will be the North American launch customer for Embraer’s newest family of jets, the E2. Porter’s investment is set to disrupt the Canadian aviation landscape; enhancing competition, elevating passenger service levels and creating as many as 6,000 new jobs. Porter intends to deploy the E195-E2s to popular business and leisure destinations throughout Canada, the United States, Mexico and the Caribbean, from Ottawa, Montreal, Halifax and Toronto Pearson International Airport.

Porter’s first delivery and entry into service is scheduled starting in the second half of 2022. The option to convert purchase rights to the E190-E2s is included in the agreement. This would provide greater flexibility to introduce non-stop service in markets with fewer passengers, and to add frequencies on higher demand routes.

The E195-E2 accommodates between 120 and 146 passengers. Configuration plans for Porter’s E2s will be revealed in due course.

United Adds 270 Boeing and Airbus Aircraft, Largest Order in Airline’s History

June 30, 2021 / WIL BALDWIN

CHICAGO, PRNewswire – United Airlines (Nasdaq: UAL) has announced the purchase of 270 new Boeing and Airbus aircraft – the largest combined order in the airline’s history and the biggest by an individual carrier in the last decade. The ‘United Next’ plan will have a transformational effect on the customer experience and is expected to increase the total number of available seats per domestic departure by almost 30%.

When combined with the current order book, United expects to introduce more than 500 new, narrow-body aircraft: 40 in 2022, 138 in 2023 and as many as 350 in 2024 and beyond. That means in 2023 alone, United’s fleet will, on average, add about one new narrow-body aircraft every three days.

United’s new aircraft order – 50 737 MAX 8’s, 150 737 MAX 10’s and 70 A321neo’s – will come with a new signature interior that includes seat-back entertainment in every seat, larger overhead bins for every passenger’s carry-on bag and the industry’s fastest available in-flight WiFi, as well as a bright look-and-feel with LED lighting. The airline expects to fly the first 737 MAX 8 with the signature interior this summer and to begin flying the 737 MAX 10 and the Airbus A321neo in early 2023.

What’s more, United intends to upgrade 100% of its mainline, narrow-body fleet to these standards by 2025, an extraordinary retrofit project that, when combined with the number of new aircraft joining the fleet, means United will deliver its state-of-the-art inflight experience to tens of millions of customers at an unprecedented pace.

This order will also significantly boost United’s total number of mainline daily departures and available seats across the airline’s North American network, as well as the number of premium seats, both United First^SMand Economy Plus®. Specifically, United expects it will have on average 53 premium seats per North American departure by 2026, an increase of about 75% over 2019, and more than any competitor in North America.

Plus, adding these new 737 MAX and Airbus A321neo aircraft means United will replace older, smaller mainline jets and at least 200 single-class regional jets with larger aircraft, which the airline expects will lead to significant sustainability benefits compared to older planes: an expected 11% overall improvement in fuel efficiency and an expected 17-20% lower carbon emission per seat compared to older planes.

Helvetic Airways Receives Its First Embraer E195-E2

June 24, 2021 / WIL BALDWIN

Helvetic Airways of Switzerland received the first of four new E195-E2 aircraft today at the Embraer (NYSE: ERJ) facility in São José dos Campos. Helvetic will receive three further E195-E2’s by the end of next month, July 2021.

Helvetic ordered 12 E-Jet E2’s in 2018 to support its fleet renewal initiative: 8 E190-E2’s (already in service) and four E195-E2’s (converted from the original E190-E2 order). The airline also holds purchase rights for an additional 12 aircraft. The Helvetic fleet also includes four first-generation E190’s. When the three remaining E195-E2’s are delivered, the carrier will have a fleet of 16 E-Jets.

With Embraer, the airline has developed a fleet providing maximum flexibility to deploy its 134-seat E195-E2’s, 110-seat E190-E2’s, and 112-seat E190’s across its European network. Thanks to the common crew type rating for all E-Jets, Helvetic can seamlessly schedule the three different E-Jet models to satisfy variations in demand, maximizing operating economics.

Speaking at the delivery event broadcast to Helvetic employees in Europe, Arjan Meijer, President and CEO of Embraer Commercial Aviation said, “With the new E195-E2, Helvetic builds on its reputation as one of the most environmentally committed airlines in Europe. Not only does the aircraft burn 25% less fuel than its predecessor, its noise footprint is 65% smaller. The E2’s are great news for communities near airports.”

United Signs Agreement to Buy Aircraft from Boom Supersonic

June 6, 2021 / WIL BALDWIN

PRNewswire/ — United Airlines (NASDAQ: UAL) today announced a commercial agreement with Denver-based aerospace company Boom Supersonic to add aircraft to its global fleet as well as a cooperative sustainability initiative – a move that facilitates a leap forward in returning supersonic speeds to aviation.

Under the terms of the agreement, United will purchase 15 of Boom’s ‘Overture’ airliners, once Overture meets United’s demanding safety, operating and sustainability requirements, with an option for an additional 35 aircraft. The companies will work together on meeting those requirements before delivery. Once operational, Overture is expected to be the first large commercial aircraft to be net-zero carbon from day one, optimized to run on 100% sustainable aviation fuel (SAF). It is slated to roll out in 2025, fly in 2026 and expected to carry passengers by 2029. United and Boom will also work together to accelerate production of greater supplies of SAF.

Capable of flying at speeds of Mach 1.7 – twice the speed of today’s fastest airliners – Overture can connect more than 500 destinations in nearly half the time. Among the many future potential routes for United are Newark to London in just three and a half hours, Newark to Frankfurt in four hours and San Francisco to Tokyo in just six hours. Overture will also be designed with features such as in-seat entertainment screens, ample personal space, and contactless technology. Working with Boom is another component of United’s strategy to invest in innovative technologies that will build a more sustainable future of air travel.

Alaska Air Group Orders Nine New Embraer E175 Aircraft for Operation with Horizon Air

May 17, 2021 / WIL BALDWIN

Embraer has agreed the sale of nine new E175 jets to Alaska Air Group and its subsidiary Horizon Air. The E175 aircraft will fly exclusively with Alaska Airlines under a Capacity Purchase Agreement (CPA). The value of the contract, which will be included in Embraer’s second-quarter backlog, is USD 449.1 million, based on current list prices.

Alaska Airlines, a new member of the Oneworld Alliance, currently has 62 Embraer E175 jets in their fleet, operated by Horizon Air and SkyWest Airlines. The 76-seat aircraft will be delivered in Alaska’s livery and three-class configuration, starting in 2022.

Alaska Air Group also announced today a commitment for eight more E175 aircraft with SkyWest Airlines. Once all 17 E175 aircraft announced today are delivered, Alaska Air Group will have 79 E175s in its regional fleet operated by Horizon and SkyWest.

Horizon is converting nine options from its April 2016 contract to firm orders. Added to Horizon’s three remaining firm orders on backlog, they will have a fleet of 42 E175’s flying for Alaska Airlines, when all aircraft are delivered.

The E175 has been a lifeline for carriers as they are perfectly suited to rebuild frequencies and add incremental capacity to meet rebounding domestic demand. During 2020 it was the first aircraft type to bounce back, achieving 100% of Alaska’s 2019’s schedule by Nov. 2020. Last October, the E175 started replacing larger aircraft on several intra-Alaska routes. Alaska Airlines has also been building its presence in California with the addition of new seasonal routes between cities in the Golden State and Montana with the E175.

Aerial panorama on Baku

Silk Way West Airlines Orders Five Boeing 777 Freighters

April 28, 2021 / WIL BALDWIN

BAKU, Azerbaijan, April 28, 2021 /PRNewswire/ – Boeing [NYSE: BA] and Silk Way West Airlines today announced the private cargo operator will expand its international network with an order for five 777 Freighters. The deal marks the first purchase of the long-range, high capacity twin-engine freighter in the Caspian region and Central Asia. The airplanes will enable the airline to increase its capacity to meet growing cargo demand around the globe.

Silk Way West Airlines and Boeing leaders announced the agreement during a signing ceremony in Baku that included Akhundov; Rashad Nabiyev, Minister of Transport, Communications and High Technologies of Azerbaijan; and Earle D. Litzenberger, U.S. ambassador to Azerbaijan, as well as Stan Deal, president and CEO of Boeing Commercial Airplanes.

The 777 Freighter is the world’s largest, longest range and most capable twin-engine freighter. The airplane’s better fuel efficiency and ability to reduce CO₂ emissions by 17% compared to legacy airplanes will contribute to the carrier’s sustainability goals. With a range of 9,200 kilometers, the 777 Freighter can carry a maximum payload of 102,000 kilograms, allowing Silk Way West Airlines to make fewer stops and reduce landing fees on long-haul routes.

Designed to integrate smoothly with existing cargo operations, the 777 Freighter will provide Silk Way West Airlines operational flexibility with five 747-8 Freighters and seven 747-400 Freighters the carrier currently operates. The 747 and 777 freighters are capable of carrying tall and outsized cargo loads on 3-meter-tall pallets. This common main-deck pallet height capability enables interchangeable pallets. Additionally, the 777 Freighter main deck side cargo door is 3.72 meters wide, giving the freighter outsized carriage capability beyond tall payloads.

The 777 Freighter is Boeing’s top-selling freighter of all time. Customers from around the world have ordered 247 777 Freighters since the program began in 2005. The market leader in air cargo aircraft, Boeing provides more than 90% of the worldwide dedicated freighter capacity, including new production and converted aircraft.

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 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.

Founded in 2012 in Baku, Silk Way West Airlines is the largest cargo airline in the Caspian Sea region with an annual cargo turnover of 350,000 tons. Based at Heydar Aliyev International Airport in Baku, the airline operates approximately 350 monthly scheduled flights to 40 destinations around the world.

Spirit Airlines Announces Offering of Convertible Senior Notes Due 2026

April 27, 2021 / WIL BALDWIN

MIRAMAR, Fla., April 27, 2021 /PRNewswire/ — Spirit Airlines, Inc. (NYSE: SAVE) (“Spirit”) today announced that it has commenced an underwritten public offering of $440,000,000 aggregate principal amount of convertible senior notes due 2026 (the “Convertible Notes” and such offering, the “Convertible Notes Offering”). Spirit intends to grant the underwriters of the Convertible Notes Offering a 30-day option to purchase up to $60,000,000 aggregate principal amount of additional Convertible Notes, solely to cover over-allotments, in the Convertible Notes Offering.

Spirit is also separately conducting a registered direct offering of shares of its common stock (the “Common Stock Offering”) to certain holders of its outstanding 4.75% Convertible Senior Notes due 2025 (the “2025 Convertible Notes”).

Spirit expects to use a portion of the net proceeds from the Convertible Notes Offering to repurchase a portion of its outstanding 4.75% Convertible Senior Notes due 2025 (the “2025 Convertible Notes”) for cash pursuant to privately negotiated agreements with a limited number of current holders of such 2025 Convertible Notes, which agreements are conditioned upon the consummation of the Convertible Notes Offering. Spirit expects to use any remaining net proceeds from the Convertible Notes Offering for general corporate purposes. Spirit expects to use the net proceeds from the Common Stock Offering to redeem up to 40% of the original outstanding principal amount, or up to $340 million, of its 8.00% Senior Secured Notes due 2025 at a redemption price equal to 108.0%, plus accrued and unpaid interest on the principal amount being redeemed up to, but excluding, the redemption date.

The closing of neither the Common Stock Offering nor the Convertible Notes Offering is conditioned upon the closing of the other offering.

Click the link below to view the full press release!

https://ir.spirit.com/news-releases/news-details/2021/Spirit-Airlines-Announces-Offering-of-Convertible-Senior-Notes-Due-2026/default.aspx

Amtrak Releasing Six 50th Anniversary Commemorative Painted Locomotives

March 17, 2021 / WIL BALDWIN

Amtrak fans across the country may soon spot a few freshly painted locomotives featuring new anniversary logos rolling down the tracks as America’s Railroad® celebrates 50 years of service this year. The first of six different commemorative 50^th anniversary locomotives has already entered service on the national network.

“We chose locomotives already budgeted for new paint as part of our life cycle preventative maintenance program and used the opportunity to celebrate this significant milestone on the most iconic component of our business,” said Amtrak President Stephen Gardner. “The locomotive designs uniquely honor our heritage and our vision of connecting communities, economies and families nationwide.”

The commemorative locomotive list includes:

P42 #46 in “Phase V 50^th” – The standard Amtrak livery for the past two decades with our “Connecting America for 50 Years” slogan including a large golden yellow 50.
P42 in “Midnight Blue”: An all new one-of-a-kind paint scheme celebrating the dedication and commitment of our employees moving people around the clock and across the nation.
P42 in “Phase VI” – The first adaptation of the latest Amtrak livery phase on a P42.
P42 in “Phase I” – A rendition of Amtrak’s first livery phase dating back to 1972.
P42 in “Dash 8 Phase III” – The award-winning livery designed for the Dash 8 locomotive fleet in the early 90s, adapted for the first time to a P42 locomotive.
ALC-42 #301 in “Day 1” scheme – A historic throwback to the unique design created for the first day of operations on May 1, 1971, applied to Amtrak’s newest locomotive.

Each P42 locomotive is being painted and overhauled at the Amtrak Beech Grove shops in Beech Grove, Ind., rolling out over the coming months and entering service across the national network. Employees will also ensure that these locomotives are maintained to high performance and safety standards. ALC-42 #301 is currently being manufactured by Siemens in Sacramento, Calif. and is expected to be delivered in April to undergo testing in the Northeast Corridor before entering service on the national network.

In addition to the commemorative locomotives, 50^th Anniversary collectible items are also now available for purchase at the Amtrak store, including t-shirts, glasses, a challenge coin, pins and other celebratory Amtrak gear.

Amtrak 50th – Paint Scheme and Livery History

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.

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