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ATR Delivers First Ever Green Financed Aircraft

December 21, 2019 /
  • First of five new 72-600 orders by Braathens Regional Airlines

ATR, world number one regional aircraft manufacturer, today delivered the first ever green financed aircraft to Swedish regional airline Braathens Regional Airlines, BRA. The aircraft is leased from Avation and is financed by Deutsche Bank. It is part of a new order for five 72-600s, all purchased by Avation from ATR and leased to BRA. Upon completion of the order in early 2020, the airline will itself operate an entirely ATR fleet, comprised of 15 ATR 72-600 aircraft.

Vigeo Eiris, one of the world’s leading independent agencies providing Environmental, Social and Governance (ESG) ratings, expressed the opinion that the project of replacing ageing regional jets with new ATR 72-600 aircraft is aligned with the Green Loan Principles (GLP) established by the Loan Market Association in 2018.

This first ever Green Financing of an aircraft confirms the high sustainable value of the modern ATR turboprop aircraft. The ATR 72-600 aircraft has a significant environmental advantage over regional jets and other turboprops emitting 40% less CO2. Turboprops are more efficient than jets on short sectors as they accelerate air using less power, so use less fuel.  

BRA CEO, Geir Stormorken, remarked: “We have made a commitment to decrease our environmental impact and the ATR is an essential part of our strategy. With that as a goal, it simply makes sense to choose the most efficient aircraft. By replacing parts of our existing fleet of regional jets with ATR 72-600 aircraft we will emit 7,500 fewer tonnes of CO2 per aircraft, per year. We believe that aviation is an essential part of Sweden’s regional transport network and we look forward to showing our passengers and the Swedish public at large that there is a sustainable way of flying.”

Executive Chairman of Avation, Jeff Chatfield, commented: “As a lessor, it is essential for us to progress our fleet into new technology low carbon emission aircraft such as the ATR 72-600 which maintain their value over a long period. ATR is one of the best assets in terms of residual value retention in the business. BRA’s decision to consolidate their own operation around the ATR 72-600 aircraft type demonstrates their understanding of the regional aviation market and the importance of reducing carbon emissions. BRA is an airline that is leading the way in terms of striving to offer their passengers the best possible experience, whilst optimising operations and minimising environmental impact.”

“Deutsche Bank is proud to have played a key role in the first green financing of a commercial aircraft,” said Richard Finlayson, Deutsche Bank Head of Global Transportation Finance, Asia. “We’re hopeful that this leads the way for more sustainable financing activity in aviation, and increased adoption of lower carbon emission aircraft across the industry, to help make flying more eco-responsible.”

Stefano Bortoli, Chief Executive Officer of ATR, said: “It is only natural that the first Green Financing deal for a commercial aircraft would involve an ATR and BRA. Thanks to the innovation of the ATR design, it inherently benefits from its lighter fuselage and the efficiency of its turboprop, meaning it burns less fuel and emits less CO2. It also makes sense that BRA, the leading voice on responsible regional flying in Sweden, would upgrade its own fleet to an all ATR 72-600 one, benefitting from these advantages compared to its rivals. We are proud to launch Green Financing in commercial aviation and lead the way in terms of innovation and sustainable regional aviation. We are thankful to Avation for having the foresight and flexibility to establish the operating lease for this series of aircraft deliveries.”

About Braathens Regional Airlines
Braathens Regional Airlines, is one of Sweden’s leading domestic airlines, with a Swedish market share of 30 percent. Braathens operates 26 routes to 17 destinations and carries more than 2,2 million passengers annually. Braathens’ On Time Punctuality is outperforming all other airlines in the world. In 2016, 2017 and 2018, BRA was awarded as the airline with the most satisfied passengers in Sweden. The airline was formed in 2016 after consolidation of several domestic air carriers, but the company’s aviation DNA reaches back to 1946 when the very first airline of the Braathen family was founded, Braathens S.A.F.E.

Air Canada’s First Airbus A220-300 Takes to the Skies

December 15, 2019 /

The first A220-300 for Air Canada has successfully completed its inaugural test flight from the Mirabel A220 final assembly line in Canada. The first of 45 aircraft for Air Canada is scheduled to be delivered to the Montreal-based airline in the coming weeks.

With its first A220 commercial flight in early 2020, Canada’s flag carrier will become the first airline in Canada to operate the Canadian-designed and -built A220. It will also become the first carrier in North America to fly the A220-300 variant.

Air Canada is planning to use the A220 on various domestic routes in Canada as well as to the United States. The A220’s unequalled performance and range capability will enable the airline to serve new markets, such as Montreal to Seattle and Toronto to San Jose, connecting the carrier’s main hubs to the West Coast, as of Spring 2020.

Benefitting from the latest technologies, the A220 is the quietest, cleanest and most eco-friendly aircraft in its category. Featuring a 50% reduced noise footprint compared to previous generation aircraft, 20% lower fuel burn per seat and 50% lower NOx emissions than industry standards, the A220 is a great aircraft for neighbourhood airports.

Around 100 A220s are currently flying with six operators on routes in Asia, America, Europe and Africa, proving the great versatility of Airbus’ latest family member.

New Flights from Austin to Boston and San Jose Start this Spring

December 10, 2019 /

Airline also adds service for special events next year

FORT WORTH, Texas — American Airlines is giving customers a treat this holiday season with the announcement of two new routes from the vibrant and eclectic city of Austin, Texas (AUS), to the capital of Silicon Valley, San Jose, California (SJC), and to the historical city of Boston (BOS). These new routes will operate twice daily beginning in April. 

The airline is also introducing unique service in support of special events like golf tournaments in Augusta, Georgia (AGS), music festivals in Palm Springs, California (PSP), and the annual visit to one of the nation’s biggest shareholder meetings with increased service to Omaha, Nebraska (OMA). Austin flights will be available for purchase starting Dec. 16 and special events flights will be available for purchase starting Dec. 22.

New Austin flights takeoff in April

American’s newest service is in response to strong demand from customers who need to travel between one of the nation’s largest tech cities, Austin, to the tech centers in San Jose and Boston.

“Our customers have expressed the desire for more routes between major tech cities, and we’re pleased to respond to their needs by helping them reach these important destinations with ease,” said Alison Taylor, Senior Vice President of Global Sales and Distribution. “These new routes reflect our commitment to partnering with customers to seamlessly support their travel needs.” 

Flights will operate twice daily, Monday through Friday, on a Boeing 737-800, year-round. The aircraft features high-speed Wi-Fi, access to power at every seat and 16 first class seats, providing additional comfort while commuting. With convenient flight times, customers flying the new service can get to meetings early and get back home in time for dinner. The airline has also recently renovated the Admirals Club to relax before flights, and, by the end of the year, American will have five contiguous gates at AUS.

“We added these routes with our customers top of mind to bring them closer to the places they value the most when conducting business,” said Vasu Raja, Senior Vice President of Network Strategy. “While it’s not our traditional hub and spoke routing, we understand the importance of travel for the tech community and look forward to offering these new flights to our loyal customers.”

And, for a quick weekend beach escape from the capital of Texas, American will also introduce the only service from AUS to Los Cabos, Mexico (SJD) on Saturday and Sunday, starting May 9.

Special flights for special events

In addition to the yearly increase in service for special events, American is also adding more unique flights that will make it easier than ever to attend must-see special events such as sports tournaments, concerts and meetings. American is adding direct service from Los Angeles (LAX) to PSP in April, for a faster way to get to one of the biggest music festivals of the year. The airline is also adding new service to AGS from BOS on an Embraer E175, and upgauging existing service from Chicago (ORD) to Augusta on a 737-800 to help customers who want a front row seat to golf’s biggest championship tournament. And in May, American will have the most seats to Louisville, Kentucky (SDF), for one of the most unique sporting events under the Twin Spires at Churchill Downs, from BOS, CLT, DCA, DFW, LAX, LGA, MIA, ORD and PHL. American also has customers covered who care more about investing with the only service from BOS to OMA, as well as new flights from New York City (LGA) and Ronald Reagan Washington National Airport (DCA) to OMA on an E175 on May 1.

“It’s important to spend time and resources on memorable experiences, and we want to make sure our customers have options when it comes to the most important events around the country throughout the year,” Raja said. “We’re adding more seats, introducing new routes and making sure that our customers are taken care of throughout their travel journey.”

Flight times are subject to change.

Canadian Pacific to Acquire Central Maine & Quebec Railway from Fortress Transportation and Infrastructure Investors LLC

November 20, 2019 /

CALGARY and NEW YORK, Nov. 20, 2019 /PRNewswire/ – Canadian Pacific (CP) and Fortress Transportation and Infrastructure Investors LLC (FTAI) announced they have entered into a definitive agreement whereby CP will acquire the Central Maine & Quebec Railway (“CMQ”).

CMQ owns 481 miles (774 kilometres) of rail lines primarily in Quebec and Maine. The end-to-end transaction will provide CP customers with seamless, safe and efficient access to ports at Searsport, Maine and to Saint John, New Brunswick, via Eastern Maine Railway Company (EMRY) and New Brunswick Southern Railway (NBSR), thereby preserving and enhancing competition.

“This strategic acquisition gives CP a true coast-to-coast network across Canada and an increased presence in the eastern U.S.,” said CP President and CEO Keith Creel. “With additional port access, more dots on the map, and our proven precision scheduled railroading operating model we are confident this transaction will bring benefits to all stakeholders moving forward.”

As part of the transaction, FTAI will retain ownership of Katahdin Railcar Services (KRS), a tank car cleaning and repair facility, and the contract to operate at a 12-mile branch line at FTAI’s Long Ridge Energy Terminal in Monroe County, Ohio. FTAI intends to continue to develop and grow both the KRS and Long Ridge branch line businesses. 

“We are excited about this transaction as it brings value to our shareholders, while ensuring that the CMQ continues to provide safe and reliable rail transportation options,” said Joe Adams, FTAI CEO.

CP invests in its people and its assets to ensure it can provide service safely and efficiently. CP has been the safest railway in North America for 13 consecutive years, as measured by train accident frequency and meets all regulatory requirements.

The transaction is currently expected to close at the end of 2019 and remains subject to customary closing conditions. Over the coming weeks, CP, FTAI and other stakeholders will move towards closing.

Delta Increases Service Between Atlanta and Key Regional Airports Throughout Georgia

November 4, 2019 /

​​Delta is deepening its investment in communities throughout its hometown state of Georgia with more flying from Albany, Brunswick, Columbus and Valdosta to the airline’s Atlanta hub. Each market will see one additional daily frequency to Hartsfield-Jackson Atlanta International Airport beginning next spring, increasing seat capacity to and from these Georgia communities by 35 percent in 2020.

“With more than 200 destinations served from Hartsfield-Jackson, including recently added nonstop service to destinations including Havana, Seoul and Shanghai, these communities now have even more connections across the globe while supporting economic development here at home,” said Joe Esposito, Senior Vice President — Network Planning.

Delta will add a fourth peak-day round-trip from Albany, Brunswick and Valdosta and a fifth peak-day round-trip from Columbus.

The additional Brunswick flight will begin on May 22, 2020; while the increased flying to and from Albany, Columbus and Valdosta will start on June 8, 2020. Delta Connection carrier SkyWest will operate the Albany and Valdosta flights and three of the four Brunswick frequencies, all on Canadair regional jet aircraft. Delta Connection carrier Endeavor Air will operate the Columbus flights as well as the remaining Brunswick frequency, which will upgrade to a 2-class CRJ-900 aircraft.

“With roots in Georgia dating back to 1924, Delta Air Lines has helped put our state on the map as a gateway to the global economy,” said Georgia Governor Brian P. Kemp. “Delta serves 80 percent of key U.S. destinations within a two-hour flight from Atlanta, and as these new flights begin operating, they will open new doors for economic growth in every corner of our state. I am grateful for Delta’s partnership and their continued investment in Georgia.”

Delta has long called Atlanta home and today operates more than 1,000 peak-day departures from its ATL hub. The airline employs tens of thousands of Georgians – it’s among the state’s top private employers – and contributes millions of dollars and countless volunteer hours to charities and organizations throughout the metro area.

Flight schedules are as follows:

Brazil to Lure Airlines to Fly Domestic, Taking Meetings with Three Carriers

October 27, 2019 /

BRASILIA (Reuters) – Brazil is determined to lure airlines to operate domestic flights in Latin America’s largest aviation market, and is taking meetings with at least three carriers, a senior government official told Reuters.

“We are going to talk with Jet Blue, we are going to talk with Volaris, a Mexican group … we are going to talk with Sky Airline, which is Chilean,” Ronei Glanzmann, Brazil’s civil aviation secretary, told Reuters on the sidelines of the ALTA Airline Leaders Forum, an industry conference.

“These are conversations to introduce Brazil to them, they do not mean that the airlines are saying that they will come here,” he added.

Glanzmann said the meetings with Volaris and JetBlue Airways Corp <JBLU> will take place on Monday.

A representative for Sky said they had canceled their participation in the ALTA conference due to the civil unrest in Chile, but declined to comment on taking a meeting with the Brazilian government. Jet Blue and Volaris did not immediately respond to a request for comment.

Brazil’s government has recently begun a push to open its aviation market, the largest in Latin America. Right-wing president Jair Bolsonaro has allowed foreign carriers to set up domestic carriers in the country.

Currently, Brazil’s domestic air travel market is highly concentrated among three airlines. Until earlier this year, there was a fourth player, Avianca Brasil, but the airline stopped operations in May after filing for bankruptcy operations late last year, highlighting the high risk and volatility of operating in Brazil.

Reaction to Brazil’s liberalization has been slow, but already Spanish airline group Globalia has declared its intention to operate a domestic airline in Brazil. But Glanzmann hopes others will too.

His strategy, he said, involves airlines dipping their toes in the Brazilian market first by operating international flights.

“We are working first with international routes, but we are already working so that those operations will become domestic operations in the Brazilian market,” Glanzmann said.

In the past year, four foreign low cost airlines have begun operating international flights to Brazil: JetSMART, which belongs to Indigo Partners, Sky Airline, Norwegian Air Shuttle <NWARF> and Argentina’s Flybondi.

Still, some industry watchers are skeptical that anyone will attempt to enter Brazil’s domestic market anytime soon.

“We don’t see anything changing in the short term regarding a new low cost airline operating domestically,” said Eduardo Sanovicz, who heads ABEAR, an industry group that represents Brazil’s two largest airlines. “For a company to start flying in Brazil, they will need to know that they will have the same costs as we do.”

Brazil’s carriers have long complained about high costs of operating in Brazil, especially value-added taxes on fuel that can be as high as 25%.

(Reporting by Marcelo Rochabrun; Editing by Nick Zieminski)

Japan’s Military Seek Eighth Straight Annual Defense Spending Hike

August 30, 2019 /

TOKYO, Aug 30 (Reuters) – Japan’s military has asked for an eighth straight annual increase in defence spending to help pay for U.S.-made interceptor missiles, stealth fighters, and other equipment it wants to counter threats from North Korea and China.

The Ministry of Defence budget proposal released Friday calls for spending to increase 1.2 percent to a record 5.32 trillion yen ($50.48 billion) in the year starting April 1. Finance ministry officials will scrutinise the request before it is approved by Prime Minister Shinzo Abe’s cabinet.

Already one of the world’s biggest military spenders despite a constitution that forbids the possession of weapons to attack other countries, Japan has increased military outlays by a tenth over the past seven years. That growth is being driven by alarm over military build ups by its neighbours.

Japan’s spending, much of it on advanced weapons from the United States, has benefited the likes of Lockheed Martin Corp and Raytheon Co, and worried local contractors such as Mitsubishi Heavy Industries who have seen their share of defence spending shrink.

U.S. President Donald Trump has thanked Japan for buying the expensive U.S. equipment, helping curtail criticism of Japan amid trade tensions between Tokyo and Washington.

For the next fiscal year, Japan’s defense officials have asked for 115.6 billion yen to buy nine Lockheed Martin F-35 stealth fighters, including for the first time six short take-off and vertical landing (STOVL) B variants that it wants to operate from aircraft carriers. That purchase will help Japan project military power by extending the range at which the country’s Self Defense Forces can operate.

The defence ministry also wants 116.3 billion yen to bolster ballistic missile defences (BMD), including money for a new generation of interceptor missiles designed by Raytheon to shoot down incoming warheads in space. It also wants funds for vertical launch systems for ships and two planned ground-based Aegis Ashore radar missile tracking stations.

($1 = 105.3900 yen)

(Reporting by Tim Kelly; Editing by Michael Perry)

Bombardier, Orascom, and Arab Contractors Win Egypt Monorail Contract

August 5, 2019 /

Bombardier Transportation, Orascom Construction PLC and Arab Contractors have signed an agreement today with National Authority for Tunnels in Cairo to design and build two new monorail lines in Egypt. On completion of the construction phase, the consortium will be responsible for the Operation and Maintenance (O&M) of both lines for 30 years. The total value of the design, build and O&M contract exceeds $4.5 billion US (4.1 billion euro). Bombardier Transportation´s share is $2.85 billion US (2.6 billion euro). Orascom Construction’s share of the overall contract is close to $900 million US. The agreement is subject to final signatures of supplementary documents.

Danny Di Perna, President of Bombardier Transportation, said, “To be selected as the monorail system supplier in Egypt is a great privilege and our fully-automated monorail system is the smart mobility solution for Cairo’s urban future.” He added, “Our INNOVIA Monorail 300 technology has proved to be a game changer in the industry, as it allows fast construction of high capacity transit lines at lower costs. With its advanced technology, unmatched safety features and attractive aerodynamic design, this proven platform will dramatically improve the quality of life for millions of residents by significantly reducing their daily commuting time as well as reducing traffic congestion and its impact on the city.”

H.E. Dr. Moustafa Madbouly, Prime Minister of the Arab Republic of Egypt, Danny Di Perna, President of Bombardier Transportation, H.E. Abelfattah Elsisi , President of the Arab Republic of Egypt, H.E. Kamel ElWazir, Minister of Transportation, Oscar Vazquez – President GROW Region Bombardier Transportation and H.E. Dr Assem Elgazzar, Minister of Housing, Utilities and New Urban Communities

Orascom Construction will design and build all infrastructure and civil works, including stations, guideway structures and new depot buildings.

Bombardier will design, supply and install the electrical and mechanical (E&M) equipment for the two lines including 70 four-car BOMBARDIER INNOVIA Monorail 300 trains (280 cars), BOMBARDIER CITYFLO 650 signalling and automatic train control technology, the Operation Control Centre, communication systems, platform screen doors and fare collection, power supply / power distribution systems as well as switch beams and depot equipment. It will also provide the overall E&M system integration, project management, systems engineering and integration, test and commissioning for the trains and signalling as well as operations and maintenance of the vehicles and wayside systems.

Monorail systems are perfect for congested cities needing a fast and cost-effective to build mass transit solution and the INNOVIA Monorail 300 system provides flagship performance in driverless operations. The compact, elevated system enables easy urban integration into existing infrastructure, and its iconic aesthetics and attractive infrastructure will help to shape Cairo’s identity as a modern thriving city.

Southwest Expects 737 MAX Cancellations Beyond October 1

July 1, 2019 /

CHICAGO, July 1 (Reuters) – Southwest Airlines expects it will have to remove the grounded Boeing Co 737 MAX jets from its flying schedule beyond the current Oct. 1 re-entry date following the discovery of a fresh safety issue, Chief Executive Gary Kelly told employees on Monday.

Last week, Boeing said that it would take until at least September to solve 737 MAX software issues – later than airlines had been expecting – after U.S. aviation regulators uncovered a new problem during simulator sessions.

“I’m sure this will cause us to have to take the MAX out of the schedule beyond Oct. 1,” Kelly said in an internal update, adding that the company would also see “what other modifications we might need to make our plans for this year because it’s obviously extending well beyond what I had hoped.”

Kelly did not elaborate on the possible modifications. So far, the Texas-based airline has tried to substitute its MAX routes with spare aircraft but has still been forced to cancel about 115 daily flights.

American Airlines Group and United Airlines Holdings , the other two U.S. carriers that operate the 737 MAX, have removed the jetliner from their flying schedules until early September.

The three airlines are expected to provide more details on the financial toll of a prolonged MAX grounding during second quarter results later in July.

Boeing’s fast-selling narrowbody was grounded worldwide in March following two deadly crashes within five months.

(Reporting by Tracy Rucinski, Editing by Rosalba O’Brien)

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