Dubai, UAE, November 17th, 2019 – Embraer announced today, at the Dubai Air Show, that Air Peace, Nigeria and West Africa’s largest airline, has signed a contract for three additional E195-E2s, confirming purchase rights from the original contract, signed in April this year. These new E195-E2s will be included in Embraer’s 2019 fourth-quarter backlog and have a value of USD 212.6 million, based on Embraer’s current list prices.
Set to be the first E-Jets E2 operator in Africa, Air Peace’s firm order, announced in April this year, is now for 13 E195-E2s with 17 purchase rights for the same model. The first delivery is scheduled for the second quarter of 2020.
“The E195-E2 is the perfect aircraft to expand our operations in Africa and this new order is a further confirmation of our ‘no-city-left-behind initiative which we shall continue to execute”, said Air Peace Chairman/CEO, Mr. Allen Onyema. He added, “We are receiving impressive data about the aircraft’s economics now that is in revenue service, and this was a driver to place this new firm order with Embraer. We look forward to receiving our first aircraft, which will enhance connectivity in Nigeria and the African region, while feeding long-haul flights from our Lagos hub.”
“Air Peace will love the aircraft’s efficiency and the passenger will experience an unparalleled level of comfort, especially in first class – Air Peace is the launch customer for Embraer’s new premium staggered seating option”, said Raul Villaron, Vice President Sales, Africa and Middle East, Embraer Commercial Aviation. “We look forward to supporting Air Peace’s growing E2s fleet and to deepening our fruitful partnership.”
Air Peace subsidiary, Air Peace Hopper, started operating six ERJ145 jets last year on short thin routes. That experience with Embraer’s products and services, including the pool programme, and the undeniable economic benefits of right-sizing aircraft for the mission, was a key factor in selecting the E2.
Air Peace’s E195-E2s will be configured in a comfortable dual class arrangement with 124 seats. Air Peace operates more than 20 local, regional, and international routes and has strategic plans to expand those routes.
Embraer is the world’s leading manufacturer of commercial jets 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 more than 1,800 orders and 1,500 deliveries, redefining the traditional concept of regional aircraft.
Supply chain deals include Landing Gear Exchange and Quick Engine Change kit solutions
Companies also establish agreement to add regional MRO provider to Boeing’s growing global network
DUBAI, United Arab Emirates, Nov. 17, 2019 — Boeing [NYSE:BA] and EGYPTAIR MAINTENANCE & ENGINEERING (EGME) today announced agreements that will approve the Cairo-based MRO as Boeing’s first maintenance supplier in Africa and the Middle East region. The agreement enables EGME to provide aircraft, engines and component maintenance services and solutions to Boeing customers.
EGME will also receive landing gear exchange and overhaul support through the Boeing Landing Gear Exchange Program. The program provides flexible exchange solutions that allow customers to quickly repair and replace serviceable landing gear in hours.
Boeing will also supply parts for a Quick Engine Change kit. The kit includes hardware and components used to efficiently build up a spare engine to service-ready condition, lowering the maintenance time required to replace an engine and return aircraft to service.
“EGYPTAIR is optimizing operations for our growing fleet, which includes a sixth 787-9 Dreamliner aircraft, to always deliver a better experience for our customers,” said Ahmed Adel, chairman and CEO of EGYPTAIR Holding Company. “We are able to leverage the strength of a global supply chain network and increase efficiency by continuing to partner with Boeing.”
EGYPTAIR’s maintenance, repair and overhaul (MRO) subsidiary, EGYPTAIR Maintenance & Engineering (EGME), also signed a supplier agreement that will allow EGME to support Boeing’s customers with parts provisioning, engineering support and line maintenance.
“EGYPTAIR Maintenance & Engineering brings strong technical expertise with locations across the Middle East and Africa that enable us to better serve our customers in the region,” said Ted Colbert, president and CEO of Boeing Global Services. “Our customers rely on us to keep their airplanes in revenue service. With our global supplier network, which now includes EGME, we help make sure that our customers and their passengers fly Boeing airplanes with confidence every single day.”
“It’s another milestone in EGME’s strategy of growth in the global market as a leading MRO in Africa and the Middle East region,” said Mostafa Ali El-Din, chairman and CEO of EGME. “We are pleased to be part of Boeing’s global network, which reflects a great trust in our capabilities and personnel experience. EGME will utilize its wide-scope capabilities to provide the best technical services to customers who aspire for well-maintained fleet in service.”
In Boeing’s Services Market Outlook, the company forecasts rapid growth in the Middle East region’s commercial and government aviation services market, doubling the growth rate in North America.
Strong Net Rooms Growth Fuels Nearly 11% Increase in Management and Franchise Fees
CHICAGO (October 30, 2019) – Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported third-quarter 2019 financial results. Net income attributable to Hyatt was $296 million, or $2.80 per diluted share, in the third quarter of 2019, compared to $237 million, or $2.09 per diluted share, in the third quarter of 2018. Adjusted net income attributable to Hyatt was $39 million, or $0.37 per diluted share, in the third quarter of 2019, compared to $37 million, or $0.33 per diluted share, in the third quarter of 2018. Refer to the table on page 14 of the schedules for a summary of special items impacting Adjusted net income and Adjusted earnings per share in the three months ended September 30, 2019.
Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “The strength of our brands and the consistent approach we have to operating with excellence and efficiency are serving us very well in this period of volatile economic conditions. In particular, our management and franchise fee growth of nearly 11% this quarter is driven by roughly 13% year-over-year net rooms growth. Further, we have successfully increased productivity and operating efficiency for 23 straight quarters which has allowed us to maintain strong hotel operating margins even in the face of flat RevPAR growth this quarter.”
Third quarter of 2019 financial highlights as compared to the third quarter of 2018 are as follows:
Net income increased 25.4% to $296 million.
Adjusted EBITDA decreased 7.3% to $163 million, a decrease of 6.5% in constant currency.
Comparable system-wide RevPAR was flat, including a decrease of 0.1% at comparable owned and leased hotels. Comparable system-wide RevPAR growth was favorably impacted by approximately 50 basis points from the timing of the Jewish holidays, but was offset by a similar reduction resulting from political unrest in Hong Kong.
Comparable U.S. hotel RevPAR decreased 0.6%; full service hotel RevPAR increased 0.2% and select service hotel RevPAR decreased 2.3%.
Net rooms growth was 13.2%, or 7.9% excluding the acquisition of Two Roads Hospitality LLC (“Two Roads”) in the fourth quarter of 2018.
Comparable owned and leased hotels operating margin decreased 20 basis points to 21.0%.
Adjusted EBITDA margin of 26.9% decreased 280 basis points in constant currency.Mr. Hoplamazian continued, “We continue to execute on our capital strategy and shift our earnings profile while maintaining our focus on global growth. We expect to end the year with approximately 57% of our earnings coming from our hotel management and franchise business, an increase of roughly 400 basis points from 2018. Our pipeline remains robust while continuing to deliver solid organic net rooms growth of almost 8% this quarter, net of the acquisition of Two Roads in the fourth quarter of 2018. While theNote: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
current global operating environment is challenging, we feel confident in our ability to manage through volatility and identify opportunities to strengthen our brands and performance.”
Third quarter of 2019 financial results as compared to the third quarter of 2018 are as follows:
Management, Franchise and Other Fees
Total management, franchise and other fees increased 11.9% (12.5% increase in constant currency) to $148 million. Base management fees increased 17.8% to $64 million, primarily in the Americas management and franchising segment due to the acquisition of Two Roads. Incentive management fees decreased 1.3% to $33 million. Franchise fees increased 11.8% to $37 million. Other fees increased 22.0% to $14 million. Excluding other fees, management and franchise fees increased 10.9% (11.6% increase in constant currency) to $134 million.
Americas Management and Franchising Segment
Americas management and franchising segment Adjusted EBITDA increased 11.2% (11.4% increase in constant currency), driven by higher management, franchise, and other fees from the Two Roads acquisition and recently opened hotels. RevPAR for comparable Americas full service hotels increased 1.5%, occupancy increased 70 basis points, and ADR increased 0.7%. RevPAR growth was driven by strength in certain resort locations outside of the United States and benefited from the timing of the Jewish holidays which had an approximate 110 basis point favorable impact. RevPAR for comparable Americas select service hotels decreased 2.4%, occupancy decreased 40 basis points, and ADR decreased 1.8%. Total Americas management and franchising adjusted revenues increased 29.6% (29.9% increase in constant currency) including revenue from the residential management operations acquired as part of Two Roads.
Transient rooms revenue at comparable U.S. full service hotels increased 1.0%, room nights increased 2.3%, and ADR decreased 1.3%. Group rooms revenue at comparable U.S. full service hotels decreased 0.2%, room nights decreased 2.3%, and ADR increased 2.2%.
Americas net rooms increased 11.5% compared to the third quarter of 2018, or 5.2% excluding Two Roads.
Southeast Asia, Greater China, Australia, South Korea, Japan and Micronesia (ASPAC) Management and Franchising Segment
ASPAC management and franchising segment Adjusted EBITDA increased 0.9% (2.5% increase in constant currency). RevPAR for comparable ASPAC full service hotels decreased 2.0%, reflecting weakness in Hong Kong. Excluding Hong Kong, RevPAR for comparable ASPAC full service hotels would have increased 0.8%. Occupancy decreased 50 basis points and ADR decreased 1.3% for ASPAC full service hotels. Revenue from management, franchise, and other fees increased 4.2% (5.4% increase in constant currency).
ASPAC net rooms increased 17.7% compared to the third quarter of 2018, or 13.7% excluding Two Roads.
Note: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
Europe, Africa, Middle East and Southwest Asia (EAME/SW Asia) Management and Franchising Segment
EAME/SW Asia management and franchising segment Adjusted EBITDA increased 4.8% (7.8% increase in constant currency). RevPAR for comparable EAME/SW Asia full service hotels increased 1.6%, driven by strong growth in certain European markets, including France and the United Kingdom, and Southwest Asia, offset partially by weaker performance in Russia which lapped the FIFA World Cup in 2018.
Occupancy increased 290 basis points and ADR decreased 2.6% for EAME/SWA full service hotels. Revenue from management, franchise, and other fees increased 2.2% (4.3% increase in constant currency).
EAME/SW Asia net rooms increased 15.6% compared to the third quarter of 2018, or 14.4% excluding Two Roads.
Owned and Leased Hotels Segment
Total owned and leased hotels segment Adjusted EBITDA decreased 17.6% (16.9% decrease in constant currency), including a decrease of 12.0% (11.4% decrease in constant currency) in pro rata share of unconsolidated hospitality ventures Adjusted EBITDA. Refer to the table on page 11 of the schedules for a detailed list of portfolio changes and the year-over-year net impact to total owned and leased hotels segment Adjusted EBITDA.
Owned and leased hotels segment revenues decreased 3.9% (3.0% decrease in constant currency), and was negatively impacted by non-comparable hotels. RevPAR for comparable owned and leased hotels decreased 0.1%. Occupancy and ADR were both flat.
Corporate and Other
Corporate and other Adjusted EBITDA decreased 22.4% (22.5% decrease in constant currency), inclusive of $6 million of expenses from the Two Roads acquisition.
Corporate and other adjusted revenues increased 19.1% (consistent in constant currency).
Selling, General, and Administrative Expenses
Selling, general, and administrative expenses increased 1.0%, inclusive of rabbi trust impact and stock- based compensation. Adjusted selling, general, and administrative expenses increased 13.8%, or $10 million, including $8 million of integration costs related to the acquisition of Two Roads. Refer to the table on page 17 of the schedules for a reconciliation of selling, general, and administrative expenses to Adjusted selling, general, and administrative expenses.
OPENINGS AND FUTURE EXPANSION
Twenty hotels (or 4,422 rooms) opened in the third quarter of 2019, contributing to a 13.2% increase in net rooms compared to the third quarter of 2018. Excluding the impact of the Two Roads acquisition, net rooms increased 7.9% compared to the third quarter of 2018.
As of September 30, 2019, the Company had executed management or franchise contracts for approximately 460 hotels, or approximately 92,000 rooms. The Company is expected to open approximately 85 hotels in the 2019 fiscal year.
Note: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
SHARE REPURCHASE/DIVIDEND
During the third quarter of 2019, the Company repurchased a total of 1,776,891 (1,099,507 Class A shares and 677,384 Class B shares) for approximately $133 million. The Company ended the third quarter with 36,811,374 Class A and 66,438,444 Class B shares issued and outstanding. From October 1 through October 25, 2019, the Company repurchased 523,499 shares of Class A common stock for an aggregate purchase price of approximately $37 million. As of October 25, 2019, the Company had approximately $351 million remaining under its share repurchase authorization.
The Company’s board of directors has declared a cash dividend of $0.19 per share for the fourth quarter of 2019. The dividend is payable on December 9, 2019 to Class A and Class B stockholders of record as of November 26, 2019.
CAPITAL STRATEGY UPDATE
In a Form 8-K filed on September 16, 2019, the Company announced the sale of the 1,260-room Hyatt Regency Atlanta for approximately $355 million to an unrelated third party and the entry into a long-term management agreement for the property upon sale.
The Company is in the process of pursuing the sale of one of its wholly-owned hotels and will provide further details as appropriate.
BALANCE SHEET / OTHER ITEMS As of September 30, 2019, the Company reported the following:
Total debt of $1,623 million.
Pro rata share of unconsolidated hospitality venture debt of approximately $564 million, substantially all of which is non-recourse to Hyatt and a portion of which Hyatt guarantees pursuant to separate agreements.
Cash and cash equivalents, including investments in highly-rated money market funds and similar investments, of $660 million, restricted cash of $140 million, and short-term investments of $63 million.
Undrawn borrowing availability of $1.5 billion under Hyatt’s revolving credit facility.2019 OUTLOOK The Company is revising the following expectations for the 2019 fiscal year:
Comparable system-wide RevPAR is expected to increase approximately 0.5%, as compared to fiscal year 2018.
Net income is expected to be approximately $431 million to $470 million. Please refer to the table on page 13 of the schedules for revised ranges impacting net income.
Other income (loss), net is expected to be approximately $98 million to $103 million, reflecting increased interest income and unrealized gains on marketable securities. The estimated $40 million negative impact related to performance guarantee expense for the four managed hotels in France is unchanged.
Adjusted EBITDA is expected to be approximately $730 million to $745 million, primarily reflecting a one point reduction in expected comparable system-wide RevPAR and the sale ofNote: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
Hyatt Regency Atlanta (as previously reported in a Form 8-K filed on September 16, 2019). Refer to the table on page 13 of the schedules for a reconciliation of Net Income to Adjusted EBITDA.
Depreciation and amortization expense is expected to be approximately $329 million to $334 million.
Interest expense is expected to be approximately $77 million.
Adjusted selling, general, and administrative expenses are expected to be approximately $335 million. This is inclusive of approximately $25 million of expenses related to non-recurring integration costs for Two Roads. Adjusted selling, general, and administrative expenses exclude approximately $33 million of stock-based compensation expense and any potential impact related to benefit programs funded through rabbi trusts.The Company is reaffirming the following information for the 2019 fiscal year:
The Company expects to grow units, on a net rooms basis, by approximately 7.25% to 7.75%, reflecting approximately 85 new hotel openings.
Capital expenditures are expected to be approximately $375 million.
As previously reported in an 8-K filed on September 16, 2019, the Company expects to return approximately $500 million to shareholders through a combination of cash dividends on its common stock and share repurchases.
The effective tax rate is expected to be approximately 25% to 27%.
No additional disposition or acquisition activity beyond what has been completed as of the date of this release has been included in the outlook. The Company’s outlook is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that Hyatt will achieve these results.
– 28th annual Global Business Aviation Outlook projects 2020 deliveries to be higher than 2019 as new models enter service
– Five-year purchase plans for new business jets down slightly, but plans to buy used jets grow significantly
– Long-range forecast predicts healthy market with steady annual growth
LAS VEGAS, Oct. 20, 2019 /PRNewswire/ — The business jet industry is expected to see strong growth in the short to medium term, supported by several new airplane models coming to the market, according to Honeywell’s (HON) 28th annual Global Business Aviation Outlook. Released today, the Global Business Aviation Outlook forecasts up to 7,600 new business jet deliveries worth $248 billion from 2020 to 2029, down 1 to 2 percentage points from the 2018 10-year forecast.
“Production ramp up on many new business jet platforms are expected to lead to a 7% increase in deliveries in 2020, following a strong projected growth in 2019 over 2018 aircraft deliveries,” said Heath Patrick, president, Americas Aftermarket, Honeywell Aerospace. “We are confident that these new and innovative aircraft models will support solid growth in the short term and have a continuing impact on new business jet purchases in the midterm and long term.”
Key findings in the 2019 Honeywell global outlook include:
Operators plan to make new jet purchases equivalent to about 17% of their fleets over the next five years as replacements or additions to their current fleet, a decrease of 3 percentage points compared with 2018 survey results.
Of the total purchase plans for new business jets over the next 5 years, 35% are expected to occur in the first two years of the survey, with 57% of purchase plans realized by year three. This is 5 percentage points higher than last year’s survey.
Operators continue to focus on larger-cabin aircraft classes, from large cabin through ultralong-range aircraft, which are expected to account for more than 71% of all expenditures of new business jets in the next five years.
Saab has signed a contract with the Finnish Defence Forces Logistics Command, and received an order to provide and integrate the combat system for the Finnish Navy’s new Pohjanmaa-class corvettes within the Squadron 2020 programme.
This follows the previously announced selection on 19 September. The order value is 412 million Euro and the contract period is 2019-2027. The Finnish shipyard RMC Defence will build the Finnish Navy’s four new corvettes, with construction 2022 to 2025. The corvettes will be fully operational by 2028.
“We are proud that Finland has chosen Saab as combat system provider and integrator for their new corvettes. Saab has a long history in Finland and the Squadron 2020 contract means that we will increase our footprint in and deepen our relationship with Finland for many years to come”, says Micael Johansson, Senior Executive Vice President and Deputy CEO at Saab.
The contract includes, among other things, Saab’s Combat Management System (9LV) and Saab’s radars Sea Giraffe 4A Fixed Face and Sea Giraffe 1X. The communication system TactiCall as well as the remote weapon station Trackfire, are also included in the contract.
“This is going to be the world’s most modern and advanced corvettes, with state of the art technology and capabilities, including the 9LV Combat Management System and the integrated mast featuring Saab’s sophisticated Sea Giraffe 4A Fixed Face radar and the Sea Giraffe 1X radar”, continues Micael Johansson.
Saab will carry out the work in Sweden, Finland, Denmark, Australia and South Africa.
Toulouse, 5 September 2019 – Tunisair Express and ATR, the world’s number one regional aircraft manufacturer, today confirm a firm order for three ATR 72-600s. The aircraft will renew Tunisair Express’s regional fleet and supply essential connectivity, both domestically and internationally.
The market-leading modern ATR turboprops support airline operations by burning 40% less fuel and emitting 40% less CO2, compared to a regional jet. The ATR -600 cabin will also introduce the best onboard experience to Tunisair Express passengers, including the ATR’s Cabinstream™ In-Flight Entertainment system, enabling passengers to enjoy their flight by accessing a range of multimedia content on their personal electronic devices.
Tunisair Express Director General, Yosr Chouari, said: “We have had a long and strong partnership with ATR since the early 1990s, and we are pleased to introduce the modern ATR 72-600 into our fleet thanks to the support of the Tunisian Government and parent company Tunisair. When deciding on a fleet renewal strategy, it was clear that the combination of its unbeatable economics and most eco-responsible performance made the ATR the best choice for our regional network. Furthermore, we are sure that our passengers will greatly appreciate the modern, spacious cabin with its widest-in-class seats and the new cutting edge Cabinstream™ technology giving our passengers an exceptional on board experience.”
ATR Chief Executive Officer, Stefano Bortoli, commented: “The decision of Tunisair Express for three new ATR 72-600s is a further endorsement of our product and validates our policy of continuous development. With a dispatch reliability of 99.7%, its effectiveness in hot conditions, and its performance perfectly suited to the operations envisaged by Tunisair, the ATR is the ideal aircraft to continue supplying essential connectivity throughout Tunisia and beyond its borders.”
ATR’s Market Forecast sees a demand for 350 new turboprops over the next 20 years for the Africa and Middle-East region. Regional aviation provides essential connectivity around the world. A 10% increase in regional flights generates additional increases of 5% in tourism, 6% in regional GDP and 8% foreign direct investment. Turboprops are key in connecting communities around the world: 36% of all commercial airports rely exclusively on turboprops and 50% rely, also exclusively, on regional aircraft.
About Tunisair Express: Tunisair Express is a Tunisian public airline that is a subsidiary of the Tunisair group. It serves the Tunisian domestic network as well as nearby international destinations. The company also offers a charter service, notably to European tour operators. Tunisair Express as created in August 1991, under the name Tuninter and operated its first flight in March 1992. The company transports over 300,000 passengers every year across its network. The renewal of its fleet will allow Tunisair Express, to both reinforce its domestic and neighbouring services from Tunis, as well as open new routes.
The first A220-300 for EgyptAir has successfully completed its inaugural test flight from the Mirabel assembly line. The first of 12 aircraft EgyptAir has on order is due to be delivered to the Cairo-based airline in the coming weeks.
The A220 for EgyptAir will provide passengers with superior comfort, its innovative cabin design featuring the widest economy seats of any single-aisle aircraft, and panoramic windows for more natural light. The aircraft, which is outfitted with a brand new cabin layout of 134 seats, will now enter its final phase of completion before delivery.
The A220 delivers unbeatable fuel efficiency and true wide-body comfort in a single-aisle aircraft. The A220 brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation PW1500G geared turbofan engines to offer at least 20% lower fuel burn per seat compared to previous generation aircraft. With a range of up to 3,400 nm (6,300 km), the A220 offers the performance of larger single-aisle aircraft.
More than 80 A220 aircraft are flying with five operators on regional and transcontinental routes in Asia, America, Europe and Africa, proving the great versatility of Airbus’ latest addition.
DAR ES SALAAM/JOHANNESBURG, Aug 24 (Reuters) – South African authorities impounded an Airbus 220-300 aircraft leased by Tanzania’s national flag carrier following a court application by a retired farmer who is owed compensation by the Tanzanian government, the farmer’s lawyer said.
The plane had been scheduled to fly from the Oliver Tambo International Airport in Johannesburg, South Africa, to Dar es Salaam, Tanzania on Friday, but was seized on an order issued by the Gauteng High Court in Johannesburg, Tanzania’s transport ministry said in a statement on Friday.
Roger Wakefield, of Werksmans Attorneys, said his client, an elderly farmer who asked not to be named, was owed $33 million, including interest, in compensation from the Tanzanian government after his land in the country was expropriated several decades ago. The farmer was subsequently awarded the compensation in an arbitration, he said.
Wakefield said the only way Tanzania could secure the release of the plane was if it put up security or paid the debt.
A Tanzanian government spokesperson was not immediately available for comment.
Calls to the High Courts in Gauteng province went unanswered outside of usual business hours.
Speaking by phone to Reuters, Wakefield said the plane was impounded in line with South African and international laws allowing for an asset owned by a foreign entity to be attached to a case related to a foreign arbitration award.
The plane was chosen because there is evidence it is owned directly by the Tanzanian government and its value is commensurate with the amount owed to the farmer, who was born in Namibia, he said.
While the Tanzanian government has acknowledged it owes the farmer money, has previously made some payments and promised to pay the rest, it has not made a payment since around 2014, Wakefield said.
The plane is leased by loss-making state carrier Air Tanzania Company Limited (ATCL).
President John Magufuli has personally taken charge of the revival of the airline, spending hundreds of millions of dollars purchasing eight new planes since 2016.
The airline’s existing fleet, which is leased from the state-run Tanzania Government Flight Agency (TGFA), includes one Boeing 787-8 Dreamliner, two Airbus A220-300 jets and three DHC Dash 8-400 aircraft, formerly known as the Bombardier Q400 turboprop.
ACTL managing director Ladislaus Matindi told Reuters earlier on Saturday that the impounded plane was an Airbus 220-300, and arrangements had been made for its passengers to use another plane for their planned flight.
Tanzania has pinned hopes on the revival of the national airline to turn the country into a regional transport hub and boost the tourism sector, its biggest foreign exchange earner.
In 2017, a Canadian construction firm seized one of Tanzania’s new Q400 turbo-prop planes in Canada over a $38 million lawsuit related to a compensation ruling by the International Court of Arbitration.
The Q400 was released in March 2018 after Magufuli sent the country’s prime minister and attorney general to Canada to negotiate its release. Aviation sources said the government reached a financial settlement to secure the aircraft.
(Reporting by Fumbuka Ng’wanakilala in Dar es Salaam and Emma Rumney in Johannesburg Writing by Hereward Holland and Emma Rumney Editing by Angus MacSwan and Frances Kerry)
Airline expands global network with flights to Casablanca, Tel Aviv and Krakow beginning next summer
FORT WORTH, Texas — American Airlines has the cure for the end-of-summer blues: new routes for next summer. Today, American unveiled its summer 2020 international schedule, which includes the following new service:
Philadelphia (PHL) to Casablanca, Morocco (CMN) begins June 4
Dallas-Fort Worth (DFW) to Tel Aviv, Israel (TLV) begins Sept. 9
Chicago (ORD) to Krakow, Poland (KRK) begins May 7
ORD to Budapest, Hungary (BUD) begins May 7
ORD to Prague, Czech Republic (PRG) begins May 8
Furthering frontiers: Africa
When American begins service to Morocco next year, it will be the airline’s first entrance into the African continent. American will be the only U.S. carrier with nonstop service to Casablanca, which will be operated three times per week on a Boeing 757.
“Our customers and team members have been asking when we’re going to start service to Africa, and I couldn’t be more pleased to make this announcement for service beginning in 2020,” said Vasu Raja, American’s Vice President of Network and Schedule Planning. “We look forward to working with Royal Air Maroc when they join oneworld® in 2020, which will allow for even more connections further into Africa to places like Marrakech, Lagos and Accra. This is only the beginning.”
Returning to Tel Aviv
As demand continues to grow between the U.S. and TLV, American is adding three weekly flights from DFW, its largest hub. These flights will serve customers throughout the U.S. and allow many customers to make only one stop, rather than the previous two stops that were available, to TLV. And as the tech industry continues to grow in the market, American will provide the most efficient routing to U.S. tech cities like Austin, Texas, and San Jose, California, in addition to one-stop service to 33 new cities in the U.S.
Expansion in Eastern Europe
American’s Midwest hub, ORD, has seen significant growth and now offers more domestic and international seats today than it has in more than a decade. Next summer, the growth continues with three new destinations in Eastern Europe, including American’s first flight to KRK and new service to PRG and BUD, which American began flying to seasonally from PHL in 2018. American will offer the most premium seats to Eastern Europe of all U.S. carriers next summer, as all of the new flights will be operated by a Boeing 787-8, featuring 20 Flagship Business seats and 28 Premium Economy seats.
“There’s strong local demand to Eastern Europe in Chicago, and it’s important that we provide more service for our customers to visit family and friends or explore a new part of the world,” said Raja. “Chicago has been a great example of trying new things with our network, like seasonal service to Athens that launched earlier this year, and when customers take advantage, it allows us the opportunity to keep growing.”
American will be the only U.S. carrier providing service to KRK, BUD and PRG from ORD.
New flights will be available for purchase Aug. 12, with the exception of TLV, which will be available for purchase Oct. 10.
Paris, France, June 18, 2019 – Embraer announced today, at the 53rd International Paris Air Show, that it has signed a contract with Binter, of Spain, for two additional E195-E2’s, confirming purchase rights from the original contract, signed in 2018. The two new E195-E2s will be included in Embraer’s 2019 second-quarter backlog and have a value of USD 141.8 million, based on Embraer’s current list prices. The airline is celebrating 30 years of operations in 2019.
“We are extremely proud that Binter is reinforcing its commitment to the E2 program and has confirmed these new acquisitions even before the first E195-E2 delivery to the airline. We wish continued success to Binter as it modernizes its fleet and continues to expand into new international markets in Europe and Africa”, said Martyn Holmes, Vice President, Europe, Russia & Central Asia, Embraer Commercial Aviation.
Binter will receive its first E195-E2 jet in the second half of 2019, becoming the first European customer of the E-Jets E2’s largest model. The airline is configuring the aircraft with 132 seats in a very comfortable single-class layout.
“We are pleased to confirm the firm order for these two additional Embraer E195-E2s,” said Binter’s Vice President, Rodolfo Núñez “We know that the E195-E2 is the ideal aircraft model for our operations, and, with typical Embraer efficiency, Type Certification was exactly on schedule. This along with fuel burn and other performance indicators being even better than originally expected, we have total confidence in placing this new firm order.”
Embraer is the world’s leading manufacturer of commercial aircraft up to 150 seats with more than 100 customers from all over the world. For the E-Jets program alone, Embraer has logged more than 1,800 orders and 1,500 aircraft have been delivered. Today, E-Jets are flying in the fleet of 75 customers in 50 countries. The versatile 70 to 150-seat family is flying with low-cost airlines as well as with regional and mainline carriers.
