JACKSONVILLE, Fla. – CSX Corp. (NASDAQ: CSX) today announced that the Company’s Board of Directors has authorized an 8 percent increase in its quarterly dividend, from $0.26 to $0.28 per share. The new $0.28 quarterly dividend is payable on March 15, 2021 to shareholders of record at the close of business on February 26, 2021.
About CSX and its Disclosures
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.
OLATHE, Kan./Feb. 10, 2020/Business Wire – Garmin® International, Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), today announced a long-term agreement to provide the state-of-the-art Garmin G3000® integrated flight deck to Joby Aviation for their revolutionary all-electric vertical takeoff and landing (eVTOL) aircraft, which is expected to commence commercial operations in 2024. Garmin has decades of experience deploying certified avionics solutions to new markets and this is continued with the touchscreen G3000 integrated flight deck for eVTOL aircraft in the Urban Air Mobility (UAM) market. The G3000 integrated flight deck has amassed extensive field service history, and with this derivation of the system into the eVTOL segment, it leverages that proven experience while offering advanced integration functionality in a compact design with unparalleled capabilities.
The modular Garmin G3000 integrated flight deck boasts light weight and vibrant high-resolution flight displays that support navigation, communication and flight sensor solutions and integrates seamlessly with Joby’s aircraft systems. Specifically tailored to meet the needs of eVTOL aircraft, the G3000 system that will be featured in Joby’s eVTOL aircraft delivers enhanced capabilities to optimize their air mobility service through tight integration with the vehicle mission computer and tailoring of flight guidance display indications. Further, the G3000 will be architected to provide the ability to efficiently facilitate future system upgrades as the Advanced Aerial Mobility (AAM) industry continues to evolve.
Joby Aviation is a California headquartered company developing an all-electric vertical takeoff and landing aircraft. After more than a decade of engineering and development, Joby intends to operate the aircraft as a fast, quiet and affordable air mobility service as early as 2024. The piloted, zero-emissions aircraft, will be capable of transporting four passengers up to 150 miles on a single charge, with a top cruising speed of 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Designed for daily life, the aircraft lands vertically and provides flexibility and versatility to serve nearly any community.
EVERETT, Wash., Feb. 9, 2021 – The first Boeing [NYSE: BA] KC-46 tanker destined for the Japan Air Self-Defense Force (JASDF) took to the skies on its maiden flight yesterday. This successful flight highlights an important milestone as the aircraft now transitions into the certification phase of development.
“This is an exciting milestone for the JASDF and Boeing,” said Jamie Burgess, KC-46 program manager. “Japan is getting closer to receiving the most advanced air refueling tanker in the world.”
Japan is the KC-46 program’s first international customer and is scheduled to receive its first jet this year.
“Boeing’s KC-46 and its robust defensive systems will play an invaluable role in the security alliance between our two countries,” said Will Shaffer, president of Boeing Japan. “This tanker’s ability to carry cargo and passengers also makes it a critical tool to support humanitarian relief efforts across the Pacific region and beyond.”
The KC-46 refueling certification encompasses U.S. Air Force, U.S. Navy, U.S. Marine Corps and JASDF aircraft.
The U.S. Air Force awarded Boeing a $279 million contract for the JASDF’s first KC-46A tanker in December 2017. The agreement was completed through the Foreign Military Sale process between the U.S. government and Japan. Japan is now on contract for a total of four KC-46 tankers.
Boeing is assembling KC-46A aircraft for both the U.S. Air Force and Japan on its 767 production line in Everett, Washington. Boeing’s Japanese partners produce 16% of the KC-46 airframe structure.
Colombian airline signs five year contract for its seven aircraft ATR fleet
ATR and SATENA announce the signing of a Global Maintenance Agreement (GMA) contract covering: onsite stock, Standard Exchange, Line Replaceable Unit repair and propeller blades. SATENA are an existing ATR operator but this is the first time they have chosen ATR’s GMA for their fleet support. Owned and managed by the Colombian Air Force, SATENA provides essential connectivity throughout the country, providing links to communities and economies, supporting growth and development. For 20 years, through the GMA, ATR has contributed to reducing operators’ maintenance costs and boosting their operations.
The team of SATENA said: “Choosing the ATR GMA means that we will benefit from the manufacturer’s expertise, which brings many advantages. The COVID pandemic has highlighted how essential regional aviation continues to be for passengers, making reliability more important than ever. Our passengers need to know that they can rely on us, so we need to know that we can rely on our fleet. Selecting the ATR GMA ensures that we have the right infrastructure in place to optimise our operations. The availability and depth of support offered by the GMA makes it the best option available for ATR operators and the right choice for us.”
David Brigante, SVP Programmes and Customer Service of ATR commented: “Everyone is aware of the challenges that airlines are currently facing, so when in the midst of this situation an operator such as SATENA, who is dedicated to supplying essential connectivity, puts their faith in us by choosing our GMA it is something of which we can be immensely proud. SATENA helps Colombians living in remote areas link to larger hubs, allowing them to access economic or educational opportunities or connect with their friends and family. As a manufacturer, ATR’s mission is the same: to create a tool that supports communities by connecting them. This shared vision is why we have always been proud to count SATENA as an operator and why we are now especially pleased that they have chosen our GMA.
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.
“Universal Avionics is proud to be selected as the Enhanced Flight Vision System provider for the AS2 supersonic business jet,” said Dror Yahav, UA Chief Executive Officer. “By using the SkyLens as a wearable Head-Up Display, the ClearVision EFVS brings unprecedented capabilities to the airplane and demonstrates a compelling roadmap to the future, on top of the proven operational landing credit and all-weather operation.”
ClearVision provides an innovative Combined Vision System (CVS) displayed on the pilot and copilot SkyLens HWD, the only display of its kind certified today for commercial aviation. The intuitive avionics suite includes UA’s high-resolution EVS-5000 Enhanced Vision System (EVS) camera, composed of six sensors for a comprehensive and unprecedented multispectral coverage, and 3D Synthetic Vision System (SVS). ClearVision greatly improves crew resource management in the cockpit of the AS2, supporting Aerion’s ongoing mission of faster point-to-point travel. In addition, ClearVision offers pilots the ability to overcome degraded visibility situations day and night to move in and out of airports faster, saving time and increasing operational efficiency. With SkyLens, pilots continuously operate head-up and are able to monitor flight information while retaining 3D situational awareness of terrain, and eventually aircraft traffic, through the system’s unlimited 360-degree Field of Regard.
“We are truly excited to bring ClearVision to the highest levels of the business aviation market,” commented Marc Bouliane, UA Vice President of Business Development, Marketing and Services. “For the past year, we have worked diligently with Aerion’s engineering, flight operations and supply chain teams to refine a solution that fits the vision set forth by Aerion. We are honored to have been selected for this ground-breaking project and look forward to the production launch of the AS2 in 2023.”
ClearVision is a trusted and certified solution, flying today on a number of fixed wing and rotary wing aircraft. Nearly 3,000 ClearVision EVS cameras have been fielded to date. Pilots have a discernable Visual Advantage against incandescent and LED airport lighting systems, and the compact size of SkyLens is critical for profiled cockpits such as in the AS2.
“With a proven track record of innovation, Universal Avionics has become the market leader in Head-Wearable Display systems and EVS sensors. This industry-leading technology will offer pilots of the AS2 unparalleled vision and enhanced situational awareness capabilities,” said Steve Berroth, Aerion’s Chief Operating Officer and Executive Vice President of Aircraft Development. “We look forward to our continued collaboration as we seek to change the future of aviation together.”
Aerion’s pursuit of faster point-to-point travel begins with the launch of the AS2 supersonic business jet. Designed to be inherently environmentally responsible from first flight, the AS2 is the first supersonic aircraft designed to be powered by 100% engineered synthetic fuel and reach supersonic speeds without the need for an afterburner.
The manufacture of 300 AS2 aircraft is planned for the first decade of production. The AS2 will be the first aircraft to be assembled at the company’s new global headquarters in Melbourne, Florida – Aerion Park. The state-of-the-art development – powered by sustainable technology – will incorporate headquarters operations plus an integrated campus for research, design, build, and maintenance of the company’s supersonic aircraft.
KANSAS CITY, Mo.–(BUSINESS WIRE)– Kansas City Southern (NYSE: KSU) announced today that it has entered into a joint agreement with NorthPoint Development to develop the master planned Wylie Logistics Park in Wylie, Texas, located adjacent to KCS’ David L. Starling Wylie Intermodal Terminal.
The Wylie Logistics Park offers 2.4 million square feet of potential building capacity for traditional warehousing and distribution; industrial grade amenities; dual feed electrical system with redundant power; as well as a heavy-haul road network comprised of direct access to Highway 78 and the interstate system, air and seaports, and a state-of-the-art intermodal terminal.
“KCS is pleased to enter into this agreement with NorthPoint Development for the Wylie Logistics Park,” said KCS vice president chemical and energy products Ginger Adamiak, who also leads the company’s industrial development team. “Wylie is part of the Dallas metro area, the fourth fastest growing industrial market in the U.S., and Wylie offers a business-friendly environment, low taxes and a double free port exemption.”
“We are extremely bullish on the opportunities that the Wylie Logistics Park offers,” said NorthPoint Development president/founding partner Chad Meyer. “Wylie is a supportive, pro-business municipality partnering with a unique Class I intermodal facility that has the best direct connectivity to the growing east coast ports. Couple this with exceptional demographics from an eCommerce demand and the great labor pool that this development requires and you have all of the ingredients for a very successful project.”
KCS’ Wylie Intermodal Terminal opened in 2015 and expanded in 2018. It now offers track capacity of 19,000 feet and annual lift capacity of 342,000, resulting in fluid and efficient availability of containers and improved on-time arrivals and departures. The terminal also boasts 1,800-wheeled parking spaces (with room to expand); 300 container stack spots; an Automated Gate System (AGS) with high definition imagery; optical character recognition and biometric driver identification; enhanced traffic signals and specific turn lanes.
“The Wylie Logistics Park is ideal for customers looking to combine logistics and real estate in one location,” said KCS vice president intermodal and automotive Rodrigo Flores. “Locating in the park will provide tenants and customers significant cost savings by reducing drayage from ramp to facility and providing quick access to the regional interstate network. Customers will also enjoy the environmental benefits of intermodal transportation and connectivity to other intermodal and port facilities on KCS’ U.S. and Mexico rail network.”
The Ministry of Defence of the Republic of Mali has placed a firm order for an additional Airbus C295 airlifter in the transport configuration. This second aircraft, to be delivered in 2021, will supplement the first C295 already in operation since December 2016 which has already accumulated 1,770 flight hours and transported more than 38,000 passengers and 900 tonnes of cargo in less than four years of operations.
This new order also includes an integrated logistics support package with spare parts for the two aircraft and training for flight crews and mechanics.
This acquisition is in response to the urgent need of the authorities of the Republic of Mali to have permanent air transport capacity within a very short timeframe, providing a vital link supporting operations and actions for the development of isolated areas in the northern regions of the country. Bernhard Brenner, Head of Marketing and Sales at Airbus Defence and Space, said: “This repeat order demonstrates the excellent capabilities and performance of our aircraft. The C295 is becoming the 21stcentury standard tactical airlifter in Africa with 37 aircraft ordered in the region, from Algeria, Egypt and Ghana to Ivory Coast, Burkina Faso and Mali.”
Embraer and EDP, a company that operates in all segments of the Brazilian energy sector, have signed a partnership for electric aircraft research. Through its EDP Smart division, the Portuguese-based multinational announced a financial contribution for the acquisition of energy storage and battery charging technologies for Embraer’s all-electric demonstrator aircraft project, utilizing the EMB-203 Ipanema as its test bed. The prototype, which is already in development, is scheduled to complete its inaugural flight in 2021.
The investment is part of the cooperation agreement signed by both companies to advance their shared knowledge of energy storage and battery charging technologies for aviation – one of the main challenges of the project. The partnership aims to investigate the applicability of high voltage batteries for the electric propulsion systems of small aircraft, in addition to evaluating the main operating characteristics, such as weight, efficiency and power quality, thermal control and management, cycling loading and unloading, and operational safety.
EDP Headquarters in Portugal
Technological Cooperation
This proposal for the technological development of aeronautical electrification was initially created as a cooperation between Embraer and WEG, in May 2019. The project was developed as an effective and efficient instrument for training and for the maturation of technologies prior to their application in future products.
The scope of the partnership with EDP is to develop shared research in the storage of high voltage energy, complementing Embraer’s ongoing research. These research and development initiatives seek to accelerate the combined knowledge of the technologies necessary for the use and integration of batteries and electric motors in order to increase the energy efficiency of the propulsion systems of aircraft.
For the evaluations, a small single-engine aircraft is being used as the test bed to perform a primary assessment of electrification technologies. Ground tests have taken place at Embraer’s facilities in Botucatu, in the interior of São Paulo, in preparation for the first flight, which will take place at Embraer’s Gavião Peixoto unit.
Electrification is just one project in a series of initiatives being developed by Embraer and the entire aeronautical industry aimed at ensuring a commitment to environmental sustainability, as already exemplified by biofuel developments to reduce carbon emissions.
EDP has a global commitment to electrify 100% of its fleet by 2030, as well as to develop new offers and commercial solutions that promote the energy transition. Last year, during Aneel’s Public Call on the topic of Efficient Electric Mobility, the Company approved an investment of about R$ 50 million in projects, via a Research and Development Fund consisting of both corporate and partner resources.
Textron Aviation today announced it has achieved Type Certification by the Federal Aviation Administration (FAA) for its newest flagship twin turboprop Beechcraft King Air 360/360ER aircraft, paving the way for customer deliveries to commence in the coming weeks. Announced in August 2020, the Beechcraft King Air 360 demonstrates the company’s commitment to ongoing product development, bringing the latest innovations to the legendary aircraft and providing added value for customers.
The Beechcraft King Air 360/360ER is designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company.
“The new era of the industry-leading Beechcraft King Air begins today,” said Chris Hearne, senior vice president, Engineering and Programs. “The King Air 360 is a perfect combination of customer input, innovative technology and next-generation capabilities. By incorporating superior features and engineering advancements into an aircraft that is renowned for its versatility and reliability, we have elevated the King Air to the next level. With certification now in hand, we are thrilled to soon get these aircraft into the hands of our eager customers.”
The King Air 360 ushers in the next generation of the legendary King Air turboprop family, building on its reputation of versatility and reliability. The newly upgraded aircraft offers the latest technological advancements in the cockpit, a redesigned cabin and enhancements to passenger comfort.
Cockpit upgrades
Among the key features of the King Air 360 cockpit is the addition of the Innovative Solutions & Support (IS&S)ThrustSense Autothrottle. The autothrottle supports pilots in their critical mission of delivering people or cargo safely by automatically managing engine power from the takeoff roll through the climb, cruise, descent, and go-around phases of flight. This enhancement reduces pilot workload and supports them in their continuous vigilance to prevent over-speed or under-speed, over-temp and over-torque conditions.
Another important update in the cockpit is the new digital pressurization controller, which automatically schedules cabin pressurization during both climb and descent, reducing pilot workload and increasing overall passenger comfort. The pressurization gauges have been integrated with the powerful Collins Aerospace Pro Line Fusion flight deck.
Cabin upgrades
With standard seating for nine passengers, the latest King Air offers an even greater passenger experience than its predecessor. The aircraft features a cabin altitude of 5,960 feet at a typical cruising altitude of 27,000 feet – more than 10 percent lower when compared to the King Air 350i. The improved cabin altitude level provides greater comfort for passengers, especially during longer flights.
A redesigned cabin features a stunning new look with custom-built cabinetry, partitions and side ledges, upgraded materials and finishes, along with all new interior schemes. Other amenities that come standard on the entire King Air lineup include pull-out work tables, standard power outlets, USB charging stations and a private aft lavatory.
King Air leadership
Nearly 7,600 Beechcraft King Air turboprops have been delivered to customers around the world since 1964, making it the best-selling business turboprop family in the world. The worldwide fleet has surpassed 62 million flight hours in its 56 years, serving roles in all branches of the U.S. military and flying both commercial and special mission roles around the world.
