Bombardier (TSX: BBD.B) confirmed today the closing of the previously announced sale of the Q Series aircraft program assets to De Havilland Aircraft of Canada Limited (formerly Longview Aircraft Company of Canada Limited), an affiliate of Longview Aviation Capital Corp., for gross proceeds of approximately $300 million. Net proceeds are expected to be approximately $250 million after the assumption of certain liabilities, fees, and closing adjustments.
Longview will carry on the production of Q400 aircraft at the Downsview Facility in Toronto, and will continue performing aftermarket services for Q Series aircraft. Bombardier will provide transitional services and will license certain intellectual property to Longview to facilitate a seamless transition of the Q Series aircraft program.
Ottawa, Ontario, May 29th, 2019: Today during the CANSEC Defence & Security show, Viking Air Limited of Victoria, British Columbia has announced its plans to hold a world demonstration tour for its Guardian 400 aircraft, the special missions variant of the Viking Series 400 Twin Otter. The world tour will include detailed briefings and demonstration flights in Europe, Africa, Middle East, India, South East Asia, Oceania, and North America.
For the past six months, a production Series 400 Twin Otter has been undergoing modifications to transform into Viking’s Guardian 400 demonstrator aircraft for the proposed world tour. It will feature a right-hand SCAR pod with Hensoldt Argos EO/IR imaging turret, multi-spectral HDTV camera, mega-pixel HD Thermal imager, laser range finder, multi-mode auto tracker, and Remote Image Bus (RIB) video feed for display on the cockpit MFD or crew workstation. The demonstrator will also feature a left-hand SCAR pod with Leonardo Osprey Radar System and Sentient Vidar Camera system.
In addition to its mission sensor package, the Guardian 400 prototype will be equipped with an Airborne Technologies’ tactical workstation with high-definition touchscreen monitors, data/voice/video recorder, Mission Management Unit (MMU), mission radio communications, intuitive hand controller for MCU & SLR camera targeting, CarteNav AIMS mission system software, Kestrel MTI targeting software, and IKHANA ergonomic mission seat for optimized crew comfort. The prototype will also be equipped with Viking conformal bubble windows, left and right wing-mounted hard points by IKHANA, Thunder Bay Aviation stretcher racks, and an aft lavatory for crew comfort.
With a target launch date of September 2019, the Guardian 400 world tour has briefing and demonstration flights proposed throughout Europe, North Africa, Central Africa, Southeastern Africa, the Middle East, Southern Asia, Asia Pacific, North America and will culminate in Ottawa, Canada to coincide with the 2020 CANSEC Defence & Security show.
“As we’ve anticipated development of a Guardian 400 technical demonstrator for many years, to now be able to show off its unique performance capabilities and incredible versatility to interested military and government organizations in their home countries is exciting to say the least,” said Robert Mauracher, Viking executive vice president, Sales & Marketing. “While the tour details are still under development, we encourage interested parties to contact us if they wish to participate in a flight demonstration.”
About the Guardian 400 Twin Otter:
Viking developed the Guardian 400 in response to foreign military and government agency demand for a medium-range maritime patrol, SAR and critical infrastructure platform based on the new Twin Otter Series 400 aircraft. Designed as an economical force multiplier for 21st century surveillance and security requirements, the Guardian 400’s low acquisition and operating costs combined with its modern, flexible architecture allows it to be customized to suit operators’ financial and mission requirements.
The Guardian 400’s robust design, minimal maintenance requirements, and exceptional short-field performance capabilities make it ideally suited for specialized government operations in extreme environments. Certified under the restricted category, the Guardian 400’s increased take-off weight and extended range internal Patrol Tank allow for operational sorties over 10 hours in duration.
Trusted by the governments of Peru, Panama, the United States, United Arab Emirates, and Vietnam, over thirty Twin Otter Guardian 400 aircraft have now entered service in various roles, including maritime surveillance, search & rescue, parachute operations, pipeline monitoring, drug enforcement, medevac, and critical infrastructure support.
David Coleal, President, Bombardier Aviation and HK Bellawings’ President, Mr. YJ Zhang
May 21, 2019 • Geneva Business Aircraft Press Release
• Two Global 7500 business jet options exercised are part of initial agreement signed in May 2018 at the European Business Aviation Convention & Exhibition (EBACE) in Geneva
• Letter of intent for five new Global 7500 aircraft reinforces flagship status as the largest and longest range business jet, ideally suited for the Greater China region
• HK Bellawings Jet Limited becomes operator managing China’s largest fleet of Global 7500 aircraft
Bombardier is pleased to announce that Hong Kong aircraft management company HK Bellawings Jet Limited has signed a letter of intent (LOI) for five new Global 7500 business jets and has also exercised options for two Global 7500 business jets, as part of the initial agreement signed in May last year. This news comes as the industry flagship Global 7500 aircraft is showcased for the first time at the European Business Aviation Conference & Exhibition (EBACE) in Geneva.
“The Global 7500 aircraft continues to demonstrate its unrivalled performance and smooth ride, all the while delivering uncompromising value to customers under any conditions, at any time, without the need for tailwinds,” said David Coleal, President, Bombardier Aviation. “HK Bellawings’ experienced and professional team is a perfect fit for the Global 7500 aircraft’s superior performance and we are thrilled that they have chosen our flagship to expand their growing fleet of business jets.”
“Today marks a step forward towards our goal of becoming the premier Asian private jet operator. We are very impressed with Bombardier’s Global 7500 aircraft since its entry into service less than six months ago,” said HK Bellawings’ President Mr. YJ Zhang. “Its unmatched performance and range is ideally suited for our customers in the Greater China region. As the operator that will manage one of the world’s largest fleet of Global 7500 aircraft, HK Bellawings Jet will further expand its business scope and continuously pursue higher goals.”
Winner of the 2019 Aviation Week Grand Laureate Award and a Red Dot award for design, the Global 7500 jet offers Bombardier’s signature smooth ride and a spaciousness that is unique among business jets. Featuring a full-size kitchen and four true living spaces, the aircraft sets the benchmark for the most exceptional cabin interior. The Global 7500 aircraft’s range of 7,700 nautical miles is the longest in business aviation. This business jet can connect the cities of Beijing, Shanghai and Hong Kong non-stop to the cities of New York, London or Milan, and also fly nonstop from Singapore to Vancouver.*
Established in 2014, HK Bellawings Jet Limited is a distinguished business jet management company dedicated to providing a diverse array of professional, highly efficient and comprehensive business aviation services and solutions, which include business jet management, aircraft maintenance, travel concierge service, aircraft acquisition service, and business aviation consultancy. They operate a fleet of Challenger and Global business aircraft.
Toulouse, 18 April, 2019 – Manta Air, the new domestic carrier of the Republic of Maldives, has signed a Global Maintenance Agreement (GMA) with ATR, the world leader in the regional aviation market. This five-year contract covers the Maldivian airline’s full fleet for the repair and overhaul of easily replaceable components (Line Replaceable Units), propeller maintenance and an on-site leased stock of spare parts.
This long-term agreement also includes on-site technical support, through which a dedicated Customer Support representative assists Manta Air in their daily operations. The airline is benefitting from tailored recommendations to make an optimal start to operations, based on its very specific needs, and ATR’s expertise to enhance aircraft reliability.
“Manta Air’s aim is to raise the standards of the domestic aviation industry by providing the best flying experience for our passengers, and increased connectivity in the Maldives. As a tailor-made maintenance package, the ATR GMA responds specifically to our needs, and ATR’s expertise will ensure our brand new ATR 72-600s fly as much as possible. Our passengers depend on a reliable service and ATR’s GMA is a valuable tool to help us deliver this.” declared Edward Alsford, Chief Operation Officer of Manta Air.
Tom Anderson, Senior Vice-President Programs and Customer Services of ATR added: “Through this partnership, Manta Air’s is benefitting from our support and expertise from the very first stages of operations, enabling them to get the most value possible from their latest generation ATR aircraft. In an increasingly competitive market, initial parts provisioning, anticipation of spares requirements, parts reliability, repair management, maintenance costs optimisation and stock management are some of our operators’ crucial challenges.”
The first two ATR 72-600s of Manta Air, secured through Nordic Aviation Capital, have been delivered in late 2018, and a third aircraft has been delivered in early March 2019. With their dual-class configuration of 64 seats, Manta Air’s ATR 72-600s will help improve connectivity for the hospitality industry in the beautiful Maldivian atolls. They will be mainly operated on short sectors where ATR aircraft have already proven their operational and economic efficiency.
About Manta Air: Manta Air was founded in 2016 and is a joint venture between Deep Blue Private Limited, a local company with multiple investments in the tourism sector and Mr. Umar Mohamed Maniku. The company was created to cater for the need for more air domestic transport options and to support the rapid development of domestic airports and the fast-paced expansion of resorts and guesthouses across the country.
About ATR:
European
turboprop manufacturer ATR is the world leader in the regional aviation
market. ATR designs, manufactures and delivers aircraft, with its fleet
encompassing some 200 airlines in nearly 100 countries. The ATR 42 and
the ATR 72 are the best-selling aircraft in the below 90-seat category.
With continuous improvement as a driving force, ATR produces cutting
edge, comfortable and versatile turboprops that help airlines expand
their horizons by creating more than 100 new routes every year. Compared
with other turboprops, ATRs offer an advantage of 40% on fuel burn, 20%
on trip cost and 10% on seat cost, whilst offering the lowest noise
emissions. ATR is an equal partnership between leading aerospace firms
Airbus and Leonardo and benefits from a large global customer support
network allowing it to deliver innovative services and solutions to its
clients and operators all over the world. For more information, please
visit http://www.atr-aircraft.com. Follow us on Twitter – #ATRLeads
Fleet operator continues to confirm orders after signing letter of intent for multiple Global 6500 and Global 7500 aircraft in May 2018
HK Bellawings Jet Limited will become operator managing China’s largest fleet of Global 6500 and Global 7500 aircraft
Flagship Global 7500 business jet making its airshow debut at ABACE
Long-range, large-cabin Global 5500 and Global 6500 aircraft on track to enter service this year
Bombardier is pleased to announce that Hong Kong aircraft management company HK Bellawings Jet Limited firmed up an order for four Global 7500 business jets. This news comes as the flagship Global 7500 aircraft arrives at the Asian Business Aviation Conference & Exhibition (ABACE), its first airshow since entering service.
“We are proud to announce this firm order as the Global 7500
aircraft makes its public debut at ABACE, one of the world’s most
important aerospace exhibitions,” said Khader Mattar, Vice President of
Sales for the Middle East, Africa, Asia Pacific and China, Bombardier
Business Aircraft. “Our flagship jet has been causing a sensation since
entering service less than four months ago, and this order underscores
that this aircraft, with its unparalleled range and four true living
spaces, is ideal for the Greater China region.”
HK Bellawings first announced their intent to purchase up to 18 Global 6500 and Global 7500
aircraft, for a potential value of $1.14 billion US, in May 2018 at the
European Business Aviation Convention & Exhibition (EBACE) in
Geneva. Hours earlier, Bombardier had stunned the industry by launching
two new long-range, large-cabin business jets, the Global 5500 and Global 6500 aircraft.
In September 2018, HK Bellawings firmed up its order of four Global 6500 and two Global 7500
business jets, for an approximate value of $370 million US, based on
current list prices for typically equipped aircraft. Today, HK
Bellawings and Bombardier are pleased to confirm that four more Global 7500 aircraft are now part of that firm purchase,
bringing the total of firm aircraft orders to 10. This latest
announcement represents a value of approximately $291 million US, based
on current list prices.
“We are thrilled to offer our customers access to the unparalleled Global 7500 aircraft as part of our unmatched fleet,” said HK Bellawings President Mr. YJ Zhang. “The Global 6500 and Global 7500
aircraft align with HK Bellawings’ rapid development to be a one-stop
business aviation solution. As the operator that will manage one of the
world’s largest fleet of Global 6500 and Global 7500 aircraft, HK Bellawings Jet will further expand our business scope and continuously pursue higher goals.”
The Global 7500 aircraft’s range of 7,700 nautical miles is
the longest in business aviation. This business jet can connect the
cities of Beijing, Shanghai and Hong Kong non-stop to the cities of New
York, London or Milan, and also fly nonstop from Singapore to
Vancouver.*
Established in 2014, HK Bellawings Jet Limited is a distinguished
business jet management company dedicated to providing a diverse array
of professional, highly efficient and comprehensive business aviation
services and solutions, which include business jet management, aircraft
maintenance, travel concierge service, aircraft acquisition service, and
business aviation consultancy. They operate a fleet of Challenger and Global business aircraft.
About Bombardier
With over 68,000 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.
Feb
21 (Reuters) – India’s Jet Airways Ltd has approved a rescue deal by
the lenders of the carrier reeling under a net debt of 72.99 billion
rupees ($1.02 billion), but doubts linger over whether the bailout would
help it clear dues on time.
The resolution plan will make Jet’s lenders its largest shareholders and fix a near 85 billion rupee funding gap.
Jet has been steadily losing market share to its rival and low-cost carrier IndiGo, which is owned by InterGlobe Aviation Ltd.
The airline has also seen its share price suffer as it navigated through several negotiations with its lenders and shareholders.
Oct 18 – Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report “speculative”
Oct 30 – U.S.-based Delta Air Lines Inc expresses interest to buy Jet stake from promoter Naresh Goyal and Etihad Airways
Nov 5 – Report says Tata aims to buy the 51 percent stake in the airline owned by Naresh Goyal, and Etihad Airways’ 24 percent stake, and merge Jet with Vistara
Nov 12 – Jet posts third straight quarterly loss
Nov 13 – Tata Sons begins due diligence to buy Jet, reports say
Nov 15 – Shares surge nearly 25 percent following reports that the debt-laden airline was nearing a rescue deal with Tata Sons; another report says the Indian government asked Tata to explore buying Jet
Nov 16 – Tata Sons says discussions on Jet is preliminary and no proposal has been made
Nov 22 – Independent director Ranjan Mathai resigns, citing rising pressure from other commitments
Dec 3 – Jet says it will stop providing free meals to most domestic economy class passengers from January
Dec 5 – Jet and Etihad Airways have been holding rescue talks with Jet’s bankers, sources tell Reuters
Dec 6 – Jet tells its pilot union it will clear all salary dues by April, a source tells Reuters
Dec 14 – Goyal’s penchant for control has come up as a major obstacle as the airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years tell Reuters
Jan 2, 2019 – The airline says it has delayed payment to a consortium of Indian banks, led by SBI; ICRA cuts rating again
Jan 10 – Jet proposes to creditors that it will catch up with debt payments in arrears by September, and from April will meet debt payments as they come due, according to a document seen by Reuters
Jan 11 – Some aircraft lessors were prompted to explore taking back aircraft from Jet, people familiar with the matter told Reuters. Etihad is not “in any position to sink new equity into Jet at this juncture”, says a person familiar with Etihad’s position.
Jan 14 – Report states Goyal is likely to step down from the board and give up majority control
Jan 16 – TV channel reports that Etihad offered to buy Jet shares at a 49 percent discount and immediately release $35 million.
Jan 17 – Top creditor SBI says Jet’s lenders are considering a plan to resolve its debt issues, amid further reports that Goyal is willing to invest 7 billion rupees in the airline and pledge all his shares but wants to retain a 25 percent stake.
Jan 24 – India capital markets regulator says it has no “view” on relaxing norms for a Jet bailout
Jan 25 – Etihad appoints Alvarez & Marsal to conduct due diligence on Jet, sources tell Reuters
Jan 30 – Jet denies its aircraft had been grounded by GE Capital Aviation Services
Feb 1 – Jet agrees to most conditions set by Etihad Airways for a lifeline, a report says
Feb 8 – Airline grounds four aircraft after failing to make payments to lessors
Feb 14 – Jet’s board approves a rescue deal which will make its lenders its largest shareholders and fix a near 85 billion rupee funding gap
Feb 15 – Jet is seeking an $840 million bailout from shareholders and a state-backed fund, Business Television India reports
Feb 21 – International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as scepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources tell Reuters
($1 = 71.2325 Indian rupees)
(Compiled by Arnab Paul and Chris Thomas in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich)
Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) and Hapag-Lloyd AG (XETR: HLAG) (FWB : HLG) today announced an extension of their long-term agreement to the benefit of the international supply chain, the movement of cargo through the ports of Montreal and Vancouver, and the overall North American economy.
“We are incredibly proud to continue to work with Hapag-Lloyd,” said Keith Creel, CP President and CEO. “This long-term agreement is built on service, reliability and trust. On behalf of the 13,000-strong CP family, particularly those on the ground who ensure we provide exceptional service, we are excited to continue to work closely with Hapag-Lloyd as their preferred rail carrier in Canada.”
In close collaboration, the two companies have built a track record of reliable service on sea and on land for their customers.
“Customers expect reliable supply chains, and in CP we have found a company that delivers consistently, every day,” said Rolf Habben Jansen, CEO of Hapag-Lloyd. “With CP we are able to handle more cargo and take advantage of shorter routes to key markets, and provide long-term value to our customers.”
The agreement will allow Hapag-Lloyd’s customers to benefit from CP’s growing network of transload facilities, its innovative live-lift operation at Portal, North Dakota, and the fastest transit times between Vancouver and the Twin Cities, Chicago and beyond.
From Vancouver and Montreal, CP connects its customers to markets across Canada and the United States. CP’s intermodal franchise has the lowest on-dock dwell and best on-time performance at the Port of Vancouver and Port of Montreal, ensuring faster end-to-end transits for shippers.
Note on forward-looking information
This news release contains certain forward-looking information and forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance. Forward-looking information may contain statements with words or headings such as “financial expectations”, “key assumptions”, “anticipate”, “believe”, “expect”, “plan”, “will”, “outlook”, “should” or similar words suggesting future outcomes. This news release contains forward-looking information relating, but not limited to, the success of our business, our operations, priorities and plans, as well as anticipated financial and operational performance, including with respect to CP’s network of transload facilities and anticipated increases in cargo service.
World’s largest leisure travel company and China State Shipbuilding Corporation set to formally launch cruise joint venture this week under the name CSSC Carnival Cruise Shipping Limited.
New cruise company in China to purchase two existing ships from Costa Group, with the first ship expected by end of 2019 to begin serving guests as part of the JV fleet.
Joint venture also finalizes previously announced agreement for world’s first two new cruise ships to be built in China for the Chinese cruise market, the first of which will be delivered in 2023.
NEW DELHI (Reuters) – Lockheed Martin will build wings for its F-16 combat plane in India with its local partner, Tata Advanced Systems Limited, an executive at the U.S. company said on Tuesday.
Lockheed is bidding for a contract – estimated at more than $15 billion – to supply the Indian air force with 114 combat planes, which must be all manufactured locally under Prime Minister Narendra Modi’s flagship Make in India programme.
However, Vivek Lall, vice president of strategy and business development at Lockheed, said the proposed Indian production of the F-16 wings would not be contingent upon the company winning the order for the planes.
“Producing F-16 wings in India will strengthen Lockheed Martin’s strategic partnership with Tata and support Make in India,” the company said in a statement.
Modi has been pushing for local manufacturing that will provide jobs and also end the military’s dependence on imports.
Lockheed’s announcement came just days ahead of top level talks between the United States and India aimed at expanding defence ties.
U.S. Secretary of State Mike Pompeo and Defense Secretary Jim Mattis will meet with Indian Foreign Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman.
Boeing has pitched its F/A-18 Super Hornet for the Indian contract as well as Sweden’s Saab with its Gripen fighter. France’s Dassault Systemes SE’s Rafale, the Eurofighter Typhoon and Russian aircraft are also in the fray.
Lall said Lockheed had offered to make India its sole F-16 production facility that would supply the Indian military but also other countries. “If India buys the F-16 then it becomes the centre of manufacturing for the global market,” he said.
Lall said the company planned to begin production of the F-16 wings in the southern Indian city of Hyderabad from 2020. He said these were being produced at a facility in Israel and would not impact any jobs in the United States.
The Israeli centre will continue to be involved in other production, he said. “All F-16 wings globally are to be built in the Hyderabad facility,” he said.
(Reporting by Neha Dasgupta; Writing by Sanjeev Miglani; Editing by Susan Fenton and Jane Merriman)
