Tag: sale (Page 5 of 7)

Air Lease Corporation Initiates Portfolio Sale of 19 Aircraft to Thunderbolt III Aircraft Lease Limited

November 13, 2019 / WIL BALDWIN

LOS ANGELES, November 11, 2019 – Air Lease Corporation (the “Company” or “ALC”) announced today that the Company initiated the sale of a portfolio of 19 aircraft to Thunderbolt III Aircraft Lease Limited (“Thunderbolt III”), a newly formed entity, and Thunderbolt III has now completed its equity and debt financing transactions. The aircraft comprise a mix of narrowbody and widebody jet aircraft that, as of August 31, 2019, had a weighted average age of 9.7 years and were leased to 18 lessees based in 15 countries. ALC and its Irish affiliate, ALC Aircraft Limited, will act as servicers with respect to the aircraft and ALC will act as portfolio manager. ALC estimates that the process of transfer and sale of the majority of aircraft will occur progressively during Q4 2019 and Q1 2020.

The Thunderbolt III structure included two series of Fixed Rate Notes and Equity Certificates. Approximately 15.6865% of the Equity Certificates were purchased by the anchor investor which is an investment vehicle managed by ITE Management L.P. and approximately 5% of the Equity Certificates were purchased by ALC.

Proceeds from the issuance of the Notes and the Equity Certificates will be used to acquire the aircraft, fund certain accounts for the Notes and pay certain expenses.

“We are pleased to announce the closing of Thunderbolt III. This transaction allows ALC to efficiently sell 19 aircraft while retaining the customer relationships through our continued management of these aircraft. I would like to thank our team and the Thunderbolt III investors for making this a successful transaction,” said Gregory B. Willis, Executive Vice President and Chief Financial Officer of ALC.

Mizuho Securities acted as Global Coordinator, Mizuho Securities, BofA Securities and Goldman Sachs & Co. LLC acted as Joint Lead Structuring Agents and Joint Lead Bookrunners, Wells Fargo Securities acted as Joint Lead Bookrunner, and BNP PARIBAS, Citigroup, J.P. Morgan, MUFG, RBC Capital Markets, SOCIETE GENERALE and SunTrust Robinson Humphrey acted as Passive Bookrunners (for the Notes) and Co-Managers (for the Equity Certificates).

Hughes Hubbard & Reed LLP acted as U.S. counsel to ALC and the Issuers, and Milbank LLP acted as U.S. counsel to the Global Coordinator, the Joint Lead Structuring Agents and the Joint Lead Bookrunners. EY acted as U.S. and Irish tax advisors. Walkers acted as Cayman Islands counsel and A&L Goodbody acted as Irish counsel. Vedder Price P.C. acted as counsel for ITE.

Canyon Financial Services Limited will act as the managing agent for the Issuers. Citibank, N.A. will act as trustee, security trustee, paying agent and operating bank. Wells Fargo Bank, N.A. will also act as the liquidity facility provider. DealVector, Inc. will provide certain investor services for the holders of the Notes and Equity Certificates.

WIZZ AIR Expands in Krakow, Gdansk and Warsaw

November 11, 2019 / WIL BALDWIN

4 BASED AIRCRAFT, 13 NEW ROUTES

Wizz Air, one of Europe’s fastest growing airlines and the largest low-cost carrier in Central and Eastern Europe today announced that it will massively expand its Polish operations, basing 4 new aircraft in Poland. From summer 2020 WIZZ will launch 15 new attractive routes from Gdansk, Krakow and Warsaw as well as increase weekly frequencies on the most popular services, adding a total of 24 incremental weekly flights to its Polish schedule.

Expanding its operations, Wizz Air creates over 160 additional direct jobs and will have a team of over 1100 dedicated crew based in Poland

Wizz Air’s commitment to Polish customers is underlined by the strong growth at its other seven Polish airports as well. With a network of 193 services, WIZZ will have a total of 13 million seats on sale on its Polish routes in 2020, which represents 20% growth year over year. WIZZ’s Polish operations do not only provide affordable access at WIZZ’s lowest fares between Poland and the rest of Europe, but also stimulate the local job market in aviation and tourism sectors, supporting more than 8200 jobs this year in associated industries throughout the country.

With the latest expansion of its Polish fleet, Wizz Air will have 30 based aircraft in Poland employing more than nearly 1300 customer-oriented crew, who deliver excellent service on each WIZZ flight. Wizz Air now offers 194 routes to 28 countries from nine Polish airports.

Tickets for all new routes are already on sale and can be booked from only PLN 59 on wizzair.com.

Stephen Jones, Deputy CEO and Managing Director Wizz Air Hungary, said: “Following the recent deployment of the 3rd based aircraft at Krakow Airport and announcement of new routes in Gdanskk and Warsaw, we are thrilled to announce further expansion of our Polish operations. By adding 4 new aircraft followed by 13 new routes to our Polish fleet we create a number of local jobs with the airline and our business partners while bringing more opportunities to the country. We are sure that our loyal Polish customers will welcome the extended offer of attractive destinations and affordable travel options and we are also confident that our low fares will attract more visitors to Polish cities, which could stimulate tourism and hospitality industries. We stay committed to Poland and keep on offering the lowest possible fares and an excellent value service on each WIZZ flight.”

Ryanair Opens New Toulouse Base and S20 Schedule

September 28, 2019 / WIL BALDWIN

23 ROUTEs (13 NEW), 1.4m customers & 33% GROWTH

Ryanair, Europe’s No.1 airline, today (27 Sept) celebrated the opening of its new Toulouse base (its 3^rd in France) and the launch of its new summer 2020 schedule, with 2 based aircraft and 23 routes (13 new), connecting Toulouse to Athens, Brest, Budapest, Dublin, Lille, Luxembourg, Marseille, Oujda, Palermo, Palma, Porto, Tangier and Valencia, which will deliver 1.4m customers p.a. at Toulouse.

Ryanair’s new Toulouse base will deliver:

2 based aircraft
23 routes in total
13 new routes to/from Athens (2), Brest (3), Budapest (2), Dublin (daily), Lille (daily), Luxembourg

(3), Marseille (5), Oujda (2), Palermo (2), Palma (2), Porto (3), Tangier (2) &

Valencia (2)

More frequencies on 2 other routes to/from Fez (3) & Seville (4)
4 million customers p.a. (+33%)
1,000* “on-site” jobs p.a.

Toulouse consumers and visitors can now book their holidays for summer 2020 enjoying the lowest fares and Ryanair’s industry leading on-time performance and customer care improvements.

To celebrate the launch of its new base, Ryanair has launched a seat sale with fares on its new Toulouse routes available from just €9.99, for travel until November, which must be booked by midnight Sunday (29 Sept) on the Ryanair.com website.

In Toulouse, Ryanair’s Michael O’Leary said:

“We are pleased to open our third French base in Toulouse, with 2 based aircraft and 23 routes, delivering 1.4m customers p.a., supporting over 1,000* airport jobs.

We are also pleased to announce our biggest ever Toulouse S2020 schedule, with 23 routes, including 13 new routes to and from exciting cities such as Athens, Dublin, and Tangier. To celebrate we are releasing seats for sale on these new routes from €9.99 for travel until November, available for booking until midnight on Sunday (29 Sept) Since these amazing low fares will be snapped up quickly, customers should log onto www.ryanair.com to avoid missing out.”

Philippe Crébassa, Chairman of the Board of Toulouse-Blagnac Airport, said:

“After arriving in 2016, Ryanair strengthens its local presence with the opening of an operational base at our airport. Ryanair’s presence will generate local jobs and offer 13 additional destinations to France and Europe this autumn to our passengers. Our region is thereby even more connected internationally and will welcome new customers in the coming weeks from Luxembourg, Budapest or Tangiers.”

Wizz Air UK Announces New Route To Tenerife From London Luton

September 25, 2019 / WIL BALDWIN

Wizz Air UK, member of one of Europe’s fastest growing airline groups, Wizz Air group [PNK: WZZAF] the leading low-cost carrier in Central and Eastern Europe, today announces that it will launch a new route in November 2019 connecting London Luton with sunny Tenerife in the Canary Islands. Tickets are already on sale on wizzair.com and on the airline’s mobile app.

From 16 November, Wizz Air UK will offer flights from London Luton to the popular Spanish holiday destination of Tenerife. Fares to the biggest island of the archipelago start from £25.99/EUR 29.99*. Besides its white sandy beaches and all-inclusive resorts, the island offers extraordinary beauty and diversity, with remote mountain-ridge villages, cultured port settlements and charming ancient towns. Today’s announcement will see Wizz Air UK create seventy thousand new seat capacity at its London Luton base and 50 additional indirect jobs** in the UK. With this new route Wizz Air – the largest airline to operate from London Luton with over 40% market share – will be offering 63 routes to 30 countries from its London Luton base.

Owain Jones, Managing Director, Wizz Air UK said: “It is our pleasure to announce another long awaited route to a popular Spanish holiday destination. The new route to Tenerife, starting already in November demonstrates that Wizz Air UK is committed to offering customers ultra-low fares to destinations across all of Europe, connecting the UK with ever more leisure destinations. The WIZZ team looks forward to welcoming customers old and new on-board one of our ultra-efficient Airbus aircraft on Europe’s cleanest fleet very soon.”

Wizz Air To Increase Seat Capacity at Budapest Base

September 12, 2019 / WIL BALDWIN

NEW STATE-OF-THE-ART AIRCRAFT AND 3 NEW ROUTES LAND IN BUDAPEST

WizzAir,the largest airline in Central and Eastern Europe and Europe’s greenest* airline has today announced the arrival another state-of-the-art Airbus A321neo aircraft at its base in Budapest in June 2020 and the launch of three new routes to European cities from the Hungarian capital. Tickets for the new routes are already on sale and can be booked from only HUF 6,490, and 7,990**, respectively, on wizzair.com and the airline’s mobile app.

New daily service to Brussels, four destinations in Ukraine

Brussels Charleroi has been a part of Wizz Air’s network since 2004. From next summer, the airline will also operate a daily service to Brussels Airport, the Belgian’s capital main airport – the airline’s 151 destination –, creating a more direct link with the centre of the European Union for business travellers and diplomats. With its picturesque main square and delightful brasseries, Brussels is an attractive destination for tourists as well.

Hungary’s hometown airline is also expanding towards the East with two flights per week to Lviv, Western Ukraine’s central city, and Kharkiv, the second largest city in the country. As Kyiv has been accessible from Budapest since 2011 and flights to Odessa will launch this October, today’s announcement means that Budapest will be linked by direct flights to all four Wizz Air destinations within Ukraine.

Lviv is one of Ukraine’s most scenic historic towns, with its downtown featured in the UNESCO World Heritage List. The town was one of the multicultural centres of the Austro-Hungarian Monarchy under the name Lemberg and has preserved its Central European atmosphere to this day. Today, Lviv is one of the centres of Ukrainian culture with lots of theatres, museums and festivals awaiting visitors. Kharkiv is an interesting destination for admirers of Ukrainian gastronomy and Soviet-style architecture with its magnificent metro stations and the country’s first skyscraper.

16 aircraft in Hungary

With the arrival of the newest A321neo, Wizz Air’s Hungarian fleet expands to 14 aircraft allocated in Budapest, with a further 2 aircraft based in Debrecen. This means the airline’s operations support over 4,000*** indirect local jobs in the country. Apart from the new destinations, Wizz Air will increase its frequency on four of its existing routes to Eindhoven, St. Petersburg, Tel-Aviv and Edinburgh (to be launched this December). With this expansion of capacity, Wizz Air will increase its Hungarian seat capacity to 6.7 million passengers in 2020.

Wizz Air is the “greenest” airline

The new routes will be served by the state-of-the-art Airbus A321neo aircraft of the Budapest base. The airline operates one of the youngest fleets in Europe, with the average age of 4.7 years. As a result, Wizz Air was the airline with the smallest environmental footprint in Europeonce again in August 2019, with only 57.7 grams CO emissions per passenger per kilometre. The company currently has a total of 271 Airbus A321neo, Airbus A321neo and Airbus A321XLR aircraft on order. With the new aircraft, the airline will continue to drive efficiency parallel to further decreasing its environmental footprint by 1/3 for over the next decade. The Airbus A321neo, six of which are already in operation at WIZZ’s Budapest base, incorporates the latest technologies in aviation. It offers a 50 percent reduction in noise footprint, a 20 percent reduction in fuel consumption, while also reducing nitrogen oxide emissions by up to 50 percent.

Stephen Jones, Wizz Air Hungary’s managing director said: “Hungary’s hometown airline, Wizz Air remains strongly committed to its country of origin. We are continuously expanding and modernizing our fleet and network in Budapest to provide affordable and high quality travel opportunities to more and more Hungarian passengers. Adding a new, state-of-the-art aircraft to our Budapest fleet and launching three new routes underpins our dedication to Budapest and Hungary and creates more local jobs with the airline and in associated industries, as well as stimulates the local tourism and hospitality industries. The WIZZ team looks forward to welcoming customers old and new on-board our ultra-efficient fleet of Airbus aircraft very soon. And for those looking to turn their passion for travel into a career, we’d be delighted to see you at one of our Wizz Air cabin crew recruitment days, where you can find out more about joining the WIZZ team.”

Alaska Airlines Announces New Service to San Luis Obispo

September 4, 2019 / WIL BALDWIN

Daily nonstop flights will connect Southern California and the Pacific Northwest to San Luis Obispo

SEATTLE, Sept. 4, 2019 /PRNewswire/ — Alaska Airlines announced today it will launch daily nonstop service between San Luis Obispo County Regional Airport and San Diego International Airport on Jan. 7, 2020, and San Luis Obispo Regional Airport and Portland International Airport on June 18, 2020. The new destination offers travel enthusiasts from Southern California and the Pacific Northwest easier connectivity to California’s fastest growing wine and recreation region. Tickets are on sale now.

Alaska Airlines announces new service from San Luis Obispo

“We are excited to add nonstop service to San Diego and Portland, Oregon, from San Luis Obispo, furthering our commitment to California’s Central Coast,” said Brett Catlin, Alaska Airlines managing director of capacity planning and alliances. “Whether visiting nearby Paso Robles to experience the renowned food and wine scene, cycling through hills and vistas, or enjoying our on-board West Coast-inspired food and beverage menu, Alaska guests can look forward to experiencing our award-winning service.”

“These new Alaska Airlines flights are the successful outcome of years of planning and coordination,” said Kevin Bumen, A.A.E., San Luis Obispo airport director. “With the help of our community partners, the county and the airport are excited to bring these new opportunities to our travelers, and to provide deeper connections into the Alaska Airlines network.”

Alaska will operate once daily nonstop service between San Luis Obispo and San Diego, and between San Luis Obispo and Portland, Oregon. Guests can begin booking travel today. The new routes further amplify Alaska’s commitment to the California market, building on recently-announced service additions linking San Francisco, Los Angeles and San Diego to destinations including Anchorage, Boise, Spokane and Redmond/Bend.

San Luis Obispo, well-known for its wine and food scene, is a key new market for the airline and underscores Alaska’s commitment to providing guests with bright flavors inspired by the West Coast. Alaska has a long-standing partnership with Broken Earth Winery, based in nearby Paso Robles, California, and currently serves noteworthy wine blends on all Main Cabin flights.

With Alaska’s much-loved Wine Flies Free program, wine aficionados can check a case of wine with no baggage fee, after visiting 31 West Coast cities, including San Luis Obispo. For sports enthusiasts looking to break a sweat while on vacation, Alaska’s sports equipment checked bag program is one to take advantage of.

To celebrate the start of service, Alaska and the San Luis Obispo County Regional Airport hosted a press conference and celebration today. During the event, the airport unveiled a specially commissioned chalk mural by local artist Rachel Hamann, of Dot + Cross Studio, who created the artwork over the past week. The mural, which encompasses the airport’s two-story parking elevator and is highly visible to all airport visitors, is a whimsical take on vintage airplane banners and features the Alaska logo and iconic aircraft tail.

Alaska Airlines and its regional partners fly 46 million guests a year to more than 115 destinations with an average of 1,200 daily flights across the United Statesand to Mexico, Canada and Costa Rica. Alaska Airlines ranked “Highest in Customer Satisfaction Among Traditional Carriers in North America” in the J.D. Power North America Airline Satisfaction Study for 12 consecutive years from 2008 to 2019. Learn about Alaska’s award-winning service at newsroom.alaskaair.com and blog.alaskaair.com. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group (ALK).

WIZZ AIR EXPANDS IN KRAKOW, GDANSK AND WARSAW

September 3, 2019 / WIL BALDWIN

Expanding its operations, Wizz Air creates over 160 additional direct jobs and will have a team of over 1100 dedicated crew based in Poland.

With the latest expansion of its Polish fleet, Wizz Air will have 30 based aircraft in Poland employing more than nearly 1300 customer-oriented crew, who deliver excellent service on each WIZZ flight. Wizz Air now offers 193 routes to 28 countries from nine Polish airports.

Tickets for all new routes are already on sale and can be booked from only PLN 59 on wizzair.com.

Azul Announces Nonstop Service Between Fort Lauderdale and Belo Horizonte, Brazil

August 26, 2019 / WIL BALDWIN

Three weekly flights starting December 16 – the only nonstop from South Florida to Belo Horizonte

SAO PAULO, Aug. 26, 2019 /PRNewswire/ — The city of Belo Horizonte, the state of Minas Gerias and its surrounding cities are now more connected than ever from South Florida. Azul, the largest airline in Brazil in terms of daily departures and destinations served announced today nonstop service from Fort Lauderdale, Florida to Belo Horizonte in Brazil. Tickets are on sale across all Azul sales channels for the three weekly flights beginning December 16, 2019.

Belo Horizonte will be the fourth city served nonstop in Brazil from Fort Lauderdale. This makes Azul the largest Brazilian airline to serve South Florida in terms of destinations served. In addition to these nonstop destinations, Azul customers can conveniently connect to our 94 daily departures to 38 nonstop destinations from Belo Horizonte. Not only customers in South Florida, but all along the East coast from Boston to Raleigh, customers can connect in Fort Lauderdale to Brazil via our interline and codeshare partners in the US.

Fort Lauderdale is the second U.S. destination being served from Belo Horizonteafter Orlando. With the addition of this new flight, the State of Minas Gerais will have six weekly frequencies to the United States onboard our Airbus A330 aircraft, which accommodates up to 298 passengers.

“This announcement further strenghtens our position as Florida’s leading carrier serving Brazil. Together with our interline and codeshare partners, Azul offers unparalleled service from the entire United States, to more than 100 destinations in Brazil. We are sure our customers in the US will enjoy the award winning A330 widebody service, voted several times as the best Business class, and the best Economy class in South America” says Abhi Shah, Azul’s Chief Revenue Officer.

Service from Fort Lauderdale to Belo Horizonte will be operated by A330 widebody aircraft that feature the award winning Azul Business, Azul Economy Extra and Azul Economy. Each seat features inidivual in-seat IFE along with our award winning customer service.

British Airways Sale, a Pair of Club World Seats From £2019

August 12, 2019 / WIL BALDWIN

Today British Airways has launched a sale offering a pair of Club World (business class) seats from just £2019 return.

There are a range of destinations available for £2019 return for two, including top US destinations such as New York, Miami, Las Vegas, New Orleans, Philadelphia, Washington and Dallas. Further afield the £2019 fare for two will take travellers to Dubai and Abu Dhabi.

Other destinations are available for marginally more including Beijing, Hong Kong and Bangkok for £2998, Mumbai, Chennai, Lagos and Abuja for £2999, Antigua for £2305, Barbados for £2332 return and Toronto for £2399.

BA Holidays deals are also available, including:

Dubai: Club World flights plus three nights at a 4* hotel from £1069 per person
New York: Club World flights plus three nights at a 4* hotel from £1199 per person
Las Vegas: Club World flights plus three nights at a 4* hotel from £1149 per person
Dominican Republic: Club World flights plus seven nights all-inclusive at a 4* hotel from just £1359 per person

And there are deals to be had in other cabins too with two First class seats to New York and Miami respectively available from £3019.

Members of the airline’s Executive Club will benefit by saving with Avios part payment, securing the same £2019 deal for two people travelling together in Club World by paying just £619 return and 261,000 Avios.

Travel is for selected dates between August 13 and September 30, 2019 and customers need to book by August 19.

To book please visit ba.com/luxury-offers.

Ends August 12, 2019

Notes to editors:

Full terms and conditions can be found at ba.com/luxury-offers.
The sale runs between 12pm today, August 12, 2019 and 11.59pm on August 19, 2019.
Flights and holidays are subject to availability.

Textron Reviewing Strategic Alternatives for Kautex

August 5, 2019 / WIL BALDWIN

PROVIDENCE, R.I.–(BUSINESS WIRE)– Textron Inc. (NYSE: TXT) today announced that it is reviewing strategic alternatives for its Kautex business unit, which produces fuel systems and other functional components. Textron plans to consider a range of options, including a sale, tax-free spin-off or other transaction. Kautex operates over 30 plants in 14 countries and generated over $2.3 billion in revenue in 2018.

Kautex, headquartered in Bonn, Germany, is a leading developer and manufacturer of blow-molded plastic fuel systems and advanced fuel systems for cars and light trucks, including pressurized fuel tanks for hybrid applications. The unit also develops and manufactures camera/sensor cleaning solutions for automobiles, selective catalytic reduction systems used to reduce emissions from diesel engines as well as produces cast iron engine camshafts, crankshafts and other engine components.

“Kautex is a leading Tier One supplier to global OEMs. It has a long history of product innovation, world-class operations and strong financial performance,” said Scott C. Donnelly, Textron Chairman and Chief Executive Officer. “We are exploring strategic alternatives to see how we can position Kautex to best serve its customers for ongoing success while simultaneously unlocking potential value for our shareholders.”

No decision has been made and there can be no assurance that the process will result in any transaction being announced or completed in the future. The Company has not set a definitive timetable for completion of its review of strategic alternatives and does not intend to make any further announcements related to its review unless and until its Board of Directors has approved a specific transaction or the Company otherwise determines that further disclosure is appropriate.

Textron has retained Goldman Sachs & Co. LLC as financial advisor to assist in its review.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation + Training. For more information visit: www.textron.com

4 BASED AIRCRAFT, 13 NEW ROUTES

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