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Embraer Carries Out First Aircraft Financing Transaction With SkyWest Airlines

January 25, 2021 /

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.

BBAM Adds Up to 12 737-800 Boeing Converted Freighters

January 19, 2021 /

Boeing [NYSE: BA] and BBAM Limited Partnership today announced the lessor is expanding its 737-800 Boeing Converted Freighter fleet with six firm orders and six options. The agreement brings BBAM’s 737-800BCF orders and commitments to 15 and highlights the continued strength of the e-commerce and express cargo market.

“As we look ahead to expanding our cargo fleet, the 737-800 Boeing Converted Freighter provides the performance and efficiency our customers need,” said Steve Zissis, CEO of BBAM. “Adding these highly capable freighters to 276 Boeing airplanes in our managed fleet helps to further strengthen our leadership position in the marketplace.”

Based on the popular Next-Generation 737, the 737-800BCF is meeting customer demand for a newer-generation freighter that offers higher reliability and lower fuel consumption and operating costs per trip compared to other standard body freighters. Primarily used to carry express cargo on domestic or short-haul routes, the airplane is capable of carrying up to 23.9 tonnes (52,800 pounds) and flying up to 2,025 nautical miles (3,750 kilometers). Since entering service in 2018, the 737-800BCF has won more than 150 orders and commitments.

“BBAM is one of the industry’s leading full-service leasing companies and has built their reputation on smart investments. We are honored that BBAM has selected more 737-800BCFs, based on the success of our standard body freighters in their portfolio,” said Ihssane Mounir, Boeing’s senior vice president of Commercial Sales and Marketing. “The continued strong demand for the 737-800BCF demonstrates the critical role these converted freighters play in the growing express and e-commerce market.”

BBAM is the world’s largest dedicated manager of investments in leased commercial jet aircraft, providing over 200 airline customers in more than 50 countries with fleet and financing solutions over the last three decades. BBAM is the only manager in the aircraft leasing industry focused exclusively on generating investment returns for third-party investors. BBAM currently has more than $28 billion of assets under management and employs over 150 professionals at its headquarters in San Francisco and in additional offices in Tokyo, Singapore, Zurich, Dublin and Santiago. For more information about BBAM, please visit its website at www.bbam.com.  

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As a top U.S. exporter, the company supports commercial and government customers in more than 150 countries and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

AirAsia Boosts Supply Chain Capabilities With AC2 Group

January 4, 2021 /

AirAsia Group, the world’s best low-cost carrier for 11 consecutive years, is proud to announce its partnership with AC2 Group to install Blue Yonder’s warehouse management solution (WMS) to digitally transform its supply chain capabilities and operational agility as the airline continues to boost domestic capacity in line with strong demand.

AirAsia Group Head, Supply Chain, Siva Indran said, “We have achieved another significant milestone today with the successful deployment of a digital supply chain across the Group. The Blue Yonder WMS uses data and advanced analytics to deliver greater efficiencies for the airline and enhanced benefits for our guests, such as providing the right products on specific flights based on passenger preferences. Additionally, efficiencies gained can be translated into more attractive deals onboard or for ordering home deliveries for example. We continue to innovate in order to be well prepared ahead of the expected global rebound in air travel in the near future. 

“As AirAsia’s digital transformation continues to gather momentum, we want to make fintech services inclusive throughout our travel and lifestyle ecosystem. We have always been a digital airline and this is one of many recent technological enhancements put in place over recent times to make booking and flying with AirAsia more seamless than ever. We are pleased that the digital transformation of our supply chain network project has gone live successfully across all of our operational hubs in Asia. I want to thank our IT, operations, supply chain team and our supply chain partner, the AC2 Group, for their assistance to deploy this innovation across the Group so smoothly. The digital optimisation of our supply chain network comes at a great time as we are focused on resuming operations to pre-COVID-19 levels in all of our key markets as soon as possible.” 

Managing Partner of AC2 Group, Aw Yang Uei, said, “A significant amount of effort has been put into architecting the solution to ensure it is robust, scalable and integrable with future technologies such as warehouse robotics. AirAsia has a highly creative vision in their omni channel fulfilment strategies, which requires agility in their supply chain. We are delighted and honored to be part of this digitalization journey, and it is a privilege to be working closely with all the professionals in AirAsia.”

President of Asia Pacific at Blue Yonder, Antonio Boccalandro, said, “Congratulations to AirAsia and AC2 Group on the successful deployment of Blue Yonder’s WMS. Our warehouse management system is one of our flagship solutions helping customers improve flexibility, real-time responsiveness and the ability to easily manage complex warehouse operations.  We are proud to be part of AirAsia’s digital transformation journey, and we look forward to many more success stories from them.”

COVID-19 Impacts KiwiRail’s Fiscal Year 2020 Result

November 29, 2020 /

The COVID-19 pandemic had a significant impact on KiwiRail’s bottom line for the past financial year, but rigorous operational changes and cost savings measures have helped stabilise the business, KiwiRail chairman Brian Corban says.

KiwiRail Holdings Limited, New Zealand’s national rail provider, which also operates the Interislander ferry service across Cook Strait, today reported an operating surplus of $40 million1in FY20 for the KiwiRail Group, down $15 million compared with FY192.

FY20 was also notable for the additional $1.2 billion of Crown funding allocated in Budget 2020, including $400 million to progress the iReX project to replace the three ageing Interislander ferries with two brand new ones. When they arrive, they will be the first new purpose-built ferries in Interislander’s fleet for 25 years. The Budget 2020 allocation also allows the purchase of new locomotives.

Mr Miller explains that COVID-19 interrupted progress on some significant projects including the rejuvenation of the North Auckland Line where $35.5 million of $164.5 million allocated by the Provincial Growth Fund was spent during the year. More than 400 staff, contractors and sub-contractors are at work building tracks, replacing bridges and making tunnels suitable for wagons carrying hi-cube containers in Northland.

Other highlights during the year included the full return to service of the Main North line through Kaikōura and, in Wellington, work advanced on upgrading the metro network including construction starting on a second 2.7km track between Trentham and Upper Hutt.

1 Operating surplus represents earnings before depreciation & amortisation, interest, impairment, capital grants and fair value changes.

2 FY19 Operating surplus of $55m excludes impact of non-recurring items ($29m Holidays Act remediation).

DCIM\100MEDIA

Rheinland Air Service Appointed First German Dealer for Bell 505

November 28, 2020 /

Bell Textron Inc., a Textron Inc. (NYSE: TXT) company, appointed Rheinland Air Service GmbH (RAS) the first German dealer for the Bell 505. Approaching 50 years of business aviation experience, RAS is a proven provider of expert aviation sales and service.

Located in Mönchengladbach, RAS will be home to the first ever Bell 505 dealership.  It was established in 1972 and employs 280 staff in four locations in Germany.

The Bell 505 is ideal for private charters, corporate executives, medical evacuations, utilities, public safety, pilot training, and more. The light single-engine helicopter offers a rare combination of rugged high performance, superior fuel efficiency, and a low cost of acquisition and operation. With the only dual-channel FADEC engine in its class, the helicopter has plenty of power at high altitudes. Additionally, the high-tech G1000H all glass flight deck and panoramic windows provide great visibility, full situational awareness, and safety.

DCIM\100MEDIA

Volaris reports September 2020 traffic results, operating at 84% of 2019 capacity levels

October 6, 2020 /

MEXICO CITY, /PRNewswire/ — Volaris (NYSE: VLRS and BMV: VOLAR), the ultra-low-cost airline serving Mexico, the United States and Central America, reports September 2020 preliminary traffic results.

Volaris is well positioned for a continuing post Covid-19 traffic recovery and is regaining capacity at a fast pace, due to its strong ultra-low-cost business model focused on the VFR (Visiting Friends and Relatives) and leisure segments in the domestic and US-transborder markets. Volaris also continues to see success from its efforts to convert first time flyers through its bus switching marketing campaigns in Mexico.

In September 2020, capacity measured by ASMs (Available Seat Miles) was 84.2% compared to the same month of last year. Demand measured by RPMs (Revenue Passenger Miles) was 75.6% of last year. This represents an increase of 2.4% versus August 2020. Volaris transported a total of 1.3 million passengers during September 2020, an increase of 4.1% versus August 2020. Booked load factor for September 2020 was 74.4%, an increase of 1.8 pp versus August 2020. No shows were back to normal levels.

Click the link below for the full story with financials!

https://finance.yahoo.com/news/volaris-reports-september-2020-traffic-013900973.html

Embraer Achieves 250th Business Jet Delivery Milestone in Latin America with Deliveries to Two First-Time Jet Buyers

September 22, 2020 /

Embraer today announced the delivery of a Phenom 100EV and a Phenom 300E to two separate Brazilian customers, marking the company’s 250th business jet delivery in Latin America. The Phenom 100EV was delivered to an undisclosed industrial company, which selected the aircraft to maintain crucial business operations during the COVID-19 pandemic. The Phenom 300E was delivered to AGROJEM, an agribusiness company.

“We are proud to deliver the ultimate experience in business aviation to two new valued customers from Embraer’s home country of Brazil,” said Michael Amalfitano, President & CEO of Embraer Executive Jets. “These deliveries are proof of the inherent value of business aviation, in that each company is purchasing their first business jet for the exclusive time efficiencies and cost savings, as well as the privacy, health, and safety benefits.”

“Due to our continuous expansion of operations, we made the decision to transition from a turboprop to the new Phenom 300E. With our previous aircraft, we flew 200 hours per year. Now, with the Phenom 300E, we expect to cover the same distance in just 120 hours per year, saving valuable time and resources,” said José Eduardo Motta, CEO of AGROJEM. “The Phenom 300E is truly a time-saving machine. Beyond reducing our travel time, the aircraft also creates the opportunity for continuous connectivity and the seamless ability to work in transit.”

A perfect distillation of the private jet experience, the Phenom 100EV is the most complete, single-pilot certified, entry-level jet in the industry. The aircraft features the tallest and widest cabin in its class, with the exclusive Oval Lite cross section, as well as the best baggage compartment in the category and an airstair typically seen only in larger categories of aircraft. Having delivered over 380 aircraft, the Phenom 100 is renowned for high utilization and low operating and maintenance costs, making it the ideal aircraft for first-time buyers.

The Phenom 300E is the fastest and longest-ranged, single-pilot certified, light jet in the industry. Capable of reaching Mach 0.80, the aircraft returns valuable time to its operator. The Phenom 300E offers unparalleled technology, comfort, and performance, including the industry’s first runway overrun awareness and alerting system (ROAAS), the best cabin pressurization in its class (6,600 ft. maximum cabin altitude), and a five-occupant range of 2,010 nautical miles with NBAA IFR reserves. With over 550 aircraft delivered, the Phenom 300 is the most successful business jet of the past decade. 

The Phenom jets are a preeminent example of the benefits of business aviation, especially in the COVID-19 era. Not only will both aircraft deliver point-to-point transport for the missions of their companies, the Phenoms are equipped with exclusive features for a healthy travel environment. The air management system on the Phenoms entirely cycles the air onboard every 2 minutes, and the interiors are designed with low-touch surfaces for the healthiest possible travel environment. Additionally, Embraer has tested and approved the use of MicroShield360 ― a preventative coating system that, when applied to aircraft interiors, continuously inhibits the growth of microbes on surfaces.

Air France-KLM’s Future in Doubt Without Cost Cuts – Dutch minister

September 13, 2020 /

AMSTERDAM (Reuters) – Air France-KLM <AF.PA> might not survive its current crisis if the airline group cannot lower its costs, Dutch Finance minister Wopke Hoekstra said on Sunday.

“The survival of Air France-KLM is not a given,” Hoekstra said in an interview on Dutch public television.

“They will have to address their cost base even as things stand now. And suppose this situation lasts until the end of next year, then they will have to cut even deeper.”

Air France-KLM’s immediate future was secured by the French and Dutch governments in July, as they provided a total of 10.4 billion euros ($12.3 billion) in bailout loans and guarantees to help the group survive the disastrous effects of the COVID-19 pandemic on air travel.

In return for the support, Dutch arm KLM has said it would cut another 1,500 jobs, reducing its staff by 20%, while a pay hike agreed for 2020 was frozen by the company.

French arm Air France plans to cut 6,500 jobs, or 16% of its workforce, through 2022.

So far, however, KLM has failed to reach an agreement with unions on the cuts needed to meet the requirements set by the Dutch government.

Hoekstra indicated a thorough restructuring would be necessary for governments to contemplate further support.

“KLM will always be very important for the Dutch economy. But the question is whether that will be enough”, he said.

Air France-KLM said last month that it was losing 10 million euros per day due to the coronavirus crisis.

(Reporting by Bart Meijer; Editing by Susan Fenton)

Delta, American Drop Domestic Change Fees, Matching United

August 31, 2020 /
Delta Airlines planes sit at ATL airport in Atlanta

CHICAGO (Reuters) – Delta Air Lines <DAL.N> and American Airlines <AAL.O> said on Monday they are permanently dropping domestic change fees, mirroring an announcement by rival United Airlines <UAL.O> on Sunday in a push to woo back travelers.

U.S. airlines are burning through millions of dollars daily as the coronavirus pandemic hits passenger air travel, which is hovering around 30% of what it was a year ago, forcing more customer-friendly policies to encourage people to start traveling again.

Atlanta-based Delta said the elimination of change fees is effective immediately and includes tickets purchased for travel within the United States, Puerto Rico and U.S. Virgin Islands. American’s change also covers flights to Canada, Mexico and the Caribbean.

The new policies do not cover any of the three airlines’ basic economy tickets.

Low-cost rival Southwest Airlines <LUV.N> has never charged a change fee for its tickets.

Delta, United and American were already waiving change fees through the end of the year to give travelers more flexibility in an uncertain environment.

The fees represented around 2% to 3% of their total revenues in 2019, though analysts said the overall financial impact going forward will be limited as focus remains on generating bookings.

Delta collected $830 million in ticket cancellation and change fees last year, American $819 million and United $625 million, according to the U.S. Department of Transportation.

(Reporting by Tracy Rucinski; Editing by Chris Reese and Cynthia Osterman)

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