Tag: Purchase (Page 7 of 13)

Amtrak Celebrates 20 Years of Acela Travel with $20 Fares

November 11, 2020 / WIL BALDWIN

To commemorate 20 years of Acela service throughout the Northeast Corridor (NEC),Amtrak is Acela-celebrating by offering customers the opportunity to travel on its premium product one way in Business class for only $20 from anywhere between Boston and Washington, D.C. The sale is available for purchase from Tuesday, Nov. 10, to Thursday, Nov. 12 and is valid for travel between Nov. 16 through Dec. 17 with blackout dates during Thanksgiving week (Nov. 24, 25, and 28 through 30) and on Fridays and Sundays. Other restrictions may apply and the fare may not be available on all departures.

As part of its partnership with experts from the George Washington University Milken Institute School of Public Health, Amtrak’s new, enhanced safety initiatives and amenities, including the recently introduced Reserved Seating offering, will continue to be in effect for customers and employees on our trains and at our stations.

“Celebrating 20 years of Acela service is an incredible milestone that we are proud to celebrate. We would like to thank our customers and give them a chance to see the changes we’ve made to the experience by offering an exceptionally low fare of only $20,” said Amtrak Executive Vice President and Chief Marketing and Revenue Officer Roger Harris. “For anyone who has been curious about the premium travel experience on our flagship product, this is your chance to ride Acela for a special, low fare that is only available for two days.”

SkyWest Enters Into Secured Loan Facility Under CARES Act

September 29, 2020 / WIL BALDWIN

St. George, Utah, Sept. 29, 2020 /PRNewswire/ — SkyWest, Inc. (NASDAQ: SKYW) (“SkyWest”) today announced that it and its wholly-owned subsidiary SkyWest Airlines, Inc. have entered into a five-year Loan and Guarantee Agreement with the U.S. Treasury Department which provides SkyWest Airlines with a secured term loan facility to borrow up to $573 million under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). On September 29, 2020, upon entry into the Loan Agreement, SkyWest Airlines borrowed $60 million under the facility and has until March 26, 2021 to determine if it will borrow additional amounts in up to two subsequent borrowings.

The interest rate under the secured term loan facility is LIBOR plus 3.0% with no amortization. In consideration for the loan, SkyWest is obligated to issue warrants to the U.S. Treasury Department to purchase shares of common stock based on, and in connection with, amounts drawn under the secured term loan facility. In connection with the initial $60 million draw under the facility, SkyWest issued warrants to purchase 211,416 shares of common stock at an exercise price of $28.38 per share.

The Loan and Guarantee Agreement also includes certain restrictions, including restrictions on the payment of dividends and the repurchase of SkyWest shares. The Secured Loan is collateralized by aircraft engines and aircraft parts.

The Helicopter Company Purchases 10 Airbus H125 Helicopters

August 20, 2020 / WIL BALDWIN

The Helicopter Company (THC), which is fully owned by the Public Investment Fund (PIF) of Saudi Arabia, today announced that it has signed a purchase agreement with Airbus Helicopters to purchase 10 H125 helicopters. The deal comes as part of THC’s commitment to further expand its fleet and introduce new services that fulfill market demand and support the development of the Kingdom’s wider aviation sector.

Considered a multi-task aircraft, the Airbus H125 can carry up to six passengers and be easily reconfigured to suit varying requirements. THC will utilize the new additions to its fleet to roll out new services related to scenic tourism and aerial work such as filming, banner towing, and surveying.

Commenting on the purchase agreement, Capt. Arnaud Martinez, CEO of THC said: “By signing this agreement, THC has taken a massive step in expanding its fleet and implementing its ambitious operational plan. We are proud to be contributing to the advancement of Saudi Arabia’s tourism and aviation industries through our innovative air transport services that guarantee passengers a one-of-a-kind experience to relish the beauty of the Kingdom from above. I would like to thank our partners at Airbus Helicopters who have ensured we have reached an agreement that matches our requirements, and we look forward to furthering our collaboration in the near future. I would also like to extend our thanks to PIF for their enduring support since our founding as we work together to advance Saudi Arabia’s aviation industry.”

PIF established THC as part of its strategy to activate new sectors in Saudi Arabia that support the realization of Vision 2030 and generate long-term commercial returns. The Kingdom’s first local commercial helicopter operator, THC has been offering private flights since mid-2019 and is now expanding its services with the addition of the H125 to its fleet. This new agreement will contribute to driving the development of Saudi Arabia’s nascent and increasingly dynamic tourism and aviation industries and support the integration of each sector’s respective value chains.

Enter Air to Purchase Up to Four Boeing 737-8 Jets

August 19, 2020 / WIL BALDWIN

– New order expands Polish carrier’s commitment to the 737 family

– Enter Air: “Convinced 737 MAX will be the best aircraft…for many years to come”

Boeing [NYSE: BA] and Enter Air today announced the Polish airline is expanding its commitment to the 737 family with a new order for two 737-8 airplanes plus options for two more jets.

An all-Boeing operator and Poland’s biggest charter carrier, Enter Air began operations in 2010 with a single 737 airplane. Today, the airline’s fleet includes 22 Next-Generation 737s and two 737 MAX airplanes. When the new purchase agreement is fully exercised, Enter Air’s 737 MAX fleet will rise to 10 aircraft.

“Despite the current crisis, it is important to think about the future. To that end, we have agreed to order additional 737-8 aircraft. Following the rigorous checks that the 737 MAX is undergoing, I am convinced it will be the best aircraft in the world for many years to come,” said Grzegorz Polaniecki, general director and board member, Enter Air.

Enter Air and Boeing have also finalized a settlement to address the commercial impacts stemming from the grounding of the 737 MAX fleet. While the details of the agreement are confidential, the compensation will be provided in a number of forms and staggered over a period of time.

“In the settlement with Boeing, we agreed to revise the delivery schedule for the previously-ordered airplanes in response to current market conditions. The specific terms of the settlement are strictly confidential, but we are pleased with the way Boeing has treated us as its customer,” added Polaniecki.

“We are humbled by Enter Air’s commitment to the Boeing 737 family. Their order for additional 737-8s underscores their confidence in the airplane and the men and women of Boeing,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing, The Boeing Company. “We look forward to building on our decade-long partnership with Enter Air and working with the airline to safely return their full 737 fleet to commercial service.”

Enter Air 737 MAX 8 (7210) C1 Flight – November 28, 2018

Embraer Delivers Four Commercial and 13 Executive Jets in 2Q20

July 22, 2020 / WIL BALDWIN

Embraer (NYSE: ERJ) delivered a total of 17 jets in the second quarter of 2020, of which four were commercial aircraft and 13 were executive jets (nine light and four large). As of June 30, the firm order backlog totaled USD 15.4 billion. See details below:

In the second quarter of 2020, Embraer delivered fewer commercial and executive jets than in previous years in the second quarter, largely due to the Covid-19 pandemic that is affecting the world.

In the commercial aviation segment, Embraer delivered the 1,600th E-Jet, which was received by Helvetic Airways. In addition to receiving the commemorative aircraft, the Swiss airline also announced an upgrade of its firm order with Embraer, converting four of its E190-E2s in backlog to E195-E2s, the largest aircraft in the EJets-E2 family. Helvetic`s order is now for a total of eight E190-E2s, four E195-E2s, and with purchase rights for a further twelve EJets-E2.

Also, Congo Airways converted its firm order made in December 2019 for two E175 aircraft, with purchase rights for two more, into a firm order for two E190-E2 jets, with purchase rights for a further two aircraft.

In the Defense & Security segment, Embraer delivered the third C-390 Millennium multimission medium airlifter to the Brazilian Air Force (FAB). Similar to the first two units delivered in 2019 and the additional 25 which will be delivered to the FAB, this third unit is prepared to perform aerial refueling missions, with the KC-390 Millennium designation.

In the Executive Jets segment, Embraer announced the first delivery of its new, enhanced Phenom 300E to Texas law firm Dunham & Jones, Attorneys at Law, P.C.

Korean Regional Carrier Hi Air Purchases Two ATR 72 Aircraft

June 30, 2020 / WIL BALDWIN

Airline doubles its fleet as domestic operations continue to grow

ATR today announces the sale of two ATR 72-500 aircraft from its asset management portfolio to Hi Air. With this purchase, the South Korean start-up, which began operations in December 2019 will increase its ATR fleet to four. The two additional aircraft will be delivered in August and October. Supported by the superior economics and versatility of the ATR 72, which burns 40% less fuel and emits 40% less CO2 than a comparable regional jet, the airline is already ready to grow its fleet and expand the number of routes it offers. This summer, Hi Air will launch services on five domestic routes, including to the popular tourist destination of Jeju Island. ATR aircraft are proven route openers, having opened 164 routes globally in 2019.

Hi Air’s capacity for growth at this time also illustrates the resilience of the regional aviation market which is likely to make a faster recovery, with domestic short haul routes proving to be the first to resume as countries around the world begin to lift lockdown restrictions. The airline continued to serve passengers during the Covid pandemic, ensuring connectivity to Korean communities. Regional aviation will continue to play an important role for communities and economies worldwide, ensuring vital access for families, businesses and essential supplies – supporting the economic recovery in a Post-Covid19 world.

HyungKwan Youn, Chief Executive Officer of Hi Air remarked: “Selecting the ATR 72 to begin operations has been important for Hi Air’s early success. Launching an airline is hugely challenging. To be successful, new airlines need an aircraft that is efficient, reliable and offers passengers a good in-flight experience. To be in a position already to expand our operations is because the ATR fulfills these criteria. At Hi Air, we believe that increasing regional connectivity in Korea will benefit passengers, communities and businesses and we look forward to continuing this mission with the support of ATR.”

ATR Senior Vice President Commercial, Fabrice Vautier, said: “Regional connectivity is more vital than ever and this is why the regional aviation segment will be resilient. In many countries, we are already seeing that domestic and regional routes are the first to return and in the case of Hi Air they continued to fly. Businesses, governments and people around the world are looking for solutions to this crisis and regional aviation has a key role to play. Our ATR aircraft have the right blend of economics and operational versatility to support airlines. Furthermore, with their advantage in fuel burn and CO2 emissions, they are the perfect solution to help aviation emerge from this global recovery as a more sustainable industry.”

New Zealand to Buy Five New Super Hercules Aircraft

June 5, 2020 / WIL BALDWIN

WELLINGTON, June 5 (Reuters) – New Zealand said on Friday that it will purchase five C-130J-30 Super Hercules transport aircraft from Lockheed Martin to replace its existing fleet.

“Along with the new fleet, the $1.521 billion project will deliver a full mission flight simulator and other supporting infrastructure,” Defence Minister Ron Mark said in a statement.

The first of the new Hercules will be delivered in 2024, with the full fleet operating from 2025, he said.

New Zealand will also start work in 2021 on upgrading its air mobility capability, when options will be considered for replacing the two Boeing 757 aircraft operated by the Royal New Zealand Air Force.

(Reporting by Praveen Menon Editing by Shri Navaratnam)

Congo Airways Converts Embraer E175 Order to E190-E2 Jets

May 28, 2020 / WIL BALDWIN

São José dos Campos, Brazil, May 26th, 2020 – Congo Airways have converted the firm order made in December 2019 for two E175 aircraft, with purchase rights for two more, into a firm order for two E190-E2 jets, with purchase rights for a further two. The new deal has a total value of USD 256 million at current list prices with all purchase rights exercised, and will be included in Embraer’s second quarter backlog.

Desire Bantu, CEO of Congo Airways said, “These new jets will be replacing our legacy turboprops and will allow us to extend our operations within the Democratic Republic of Congo, and regionally to West, Central, and Southern Africa. Despite the current difficult circumstances, the fundamentals of our market have not changed; so we expect the momentum we’ve seen in the past to redevelop. I said in December that we may need to make an additional order for E2s due to the agility required to adapt to market changes – we have now reached that point. As we prepare for future success, we will have the flexibility, and the right sized, most efficient aircraft, to serve our customers as the market returns.”

“It’s great to welcome another airline to the E2 and the Embraer family of operators, especially in Africa where the demand for regional travel had been growing strongly before the current crisis. Africa has long been a market with low frequencies and long thin routes. As airlines start ramp up their operations, the E2 family of aircraft is perfectly positioned to right size routes previously operated by narrowbodies, while keeping frequencies and adjusting capacity to new levels.” said Raul Villaron, Vice President Sales, Africa and Middle East, Embraer Commercial Aviation. “We look forward to supporting Congo Airways as they continue to upgrade their offering to their customers.”

The aircraft will be configured in a dual class layout seating 96 passengers in total, with 12 staggered business class seats. Deliveries are expected to begin in the second quarter of 2022. This is second E2 order received from an African customer. There are currently 189 Embraer aircraft operating in Africa with 54 airlines in 27 countries.

Embraer is the world’s leading manufacturer of commercial aircraft up to 150 seats with more than 100 customers across 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 fleets of 80 customers in 50 countries. The versatile 70 to 150-seat family is flying with low-cost airlines as well as with regional and mainline network carriers.

Emirates to Operate Limited Passenger Flights in May

May 4, 2020 / WIL BALDWIN

Emirates is set to operate limited passenger services to Frankfurt (02, 04, 06, 09, 11, 13 May), London Heathrow (03, 05, 07, 10, 12, 14 May), Manila (3, 6, 8, 10, 13, 15, 16 May), Sao Paulo (3 May), and Shanghai (2 May). The one-way special flights will facilitate travel for residents and visitors wishing to return home.

Those who wish to travel to Shanghai must contact the embassy or consulate of the People’s Republic of China in the UAE. For all other flights, passengers can book directly on emirates.com or via their travel agent.

Only citizens of the destination countries, and those who meet the entry requirements of the destination will be allowed to board. Customers will be required to follow all health and safety measures required by the UAE authorities and the country of destination.

Similar to other repatriation flights that Emirates has operated thus far, for health and safety reasons, the airline will offer a modified inflight service that reduces contact, and the risk of infection. Magazines and print reading material will not be available. Meals on-board will be served in hygienic prepacked meal boxes, offering customers sandwiches, beverages, snacks, and desserts. A selection of hot snacks will also be served on long-haul flights.

Emirates’ Lounge and Chauffeur Drive services will be temporarily unavailable during this period and in-flight Wi-Fi service is available for purchase only. On board Emirates’ flights, seats are pre-allocated where possible with vacant seats placed between individual passengers or family groups in observance of physical distancing protocols. More information is available on emirates.com.

Cabin baggage will not be accepted on these flights. Carry-on items allowed in the cabin will be limited to laptop, handbag, briefcase or baby items. All other items have to be checked in, and Emirates will add the cabin baggage allowance to customers’ check-in baggage allowance.

Passengers are required to apply social distancing guidelines during their journey and wear their own masks when at the airport and on board the aircraft. Travellers should arrive at Dubai International airport Terminal 3 for check-in, three hours before departure. Emirates’ check-in counters will only process passengers holding confirmed bookings to the above destinations.

All Emirates aircraft will go through enhanced cleaning and disinfection processes in Dubai, after each journey.

United Airlines Sells 22 Airplanes to Bank of China Aviation

April 20, 2020 / WIL BALDWIN

HONG KONG, April 19 (Reuters) – United Airlines will sell and lease back 22 planes to Bank of China (BOC) Aviation, a statement from the aircraft investor released to the Hong Kong Stock Exchange said on Sunday.

The deal involves six Boeing 787-9 aircraft and 16 Boeing 737-9 MAX aircraft from United Airlines, the statement said.

The Singapore-based BOC Aviation did not reveal how much the purchase was worth but said the planes would be leased back to United on long-term agreements.

United said on Wednesday it had reduced its flight schedule in May by 90% and expects similar cuts for June as a result of the coronavirus pandemic.

The U.S. airline also said it flew less than 200,000 people in the first two weeks of April, a 97% drop from the more than 6 million people it flew during the same time in 2019.

BOC Aviation, which focuses on aircraft leasing, has a fleet of 567 planes owned, managed or on order as at the end of March, the statement said

The transaction was finalised on Friday and the deal is expected to close later this year, the statement said.

(Reporting by Scott Murdoch. Editing by Jane Merriman)

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