Emirates’ iconic flagship A380 landed at Queen Alia International (AMM) yesterday afternoon as the airline resumed the operations of its popular aircraft to Amman.
Customers can fly the Emirates A380 between Dubai and Amman three times a week on Wednesdays, Thursday and Fridays as part of the airline’s newly introduced expanded schedule of 10 weekly flights. The expanded schedule also includes flights EK 905 and EK 906. Emirates flight EK 905 departs Dubai at 22:15 and arrives in Amman at 23:40 local time. The return flight, EK 906 departs Amman at 01:45 and arrives in Dubai at 06:40 local time.
Timings have been scheduled to facilitate more effective onward connections to destinations in the United States such as well as vital connections to European points popular with Jordanian travellers.
A Southwest Airlines jetliner taxis to a runway for take off at Denver International Airport as travellers deal with the effects of the new coronavirus Wednesday, June 10, 2020, in Denver. (AP Photo/David Zalubowski)
Southwest Airlines Company (NYSE: LUV) today published its initial flight schedules for both Chicago O’Hare International and Colorado Springs Municipal airports as the carrier continues expanding to bring the value and Hospitality of Southwest closer to more travelers and offers more destinations to fly for leisure and business travel.
“Our low fares and friendly policies, like no change fees* and bags fly free**, mean more today as they give people the peace of mind to book travel beyond 2020. We’re growing the reach of Southwest as we add more destinations across the United States while bringing our warm Hospitality and iconic Customer Service to more people than ever before,” said Andrew Watterson, Southwest Airlines Chief Commercial Officer and Executive Vice President. “These additional investments in Chicago and Colorado provide even more convenience for our current Customers while also making it more convenient for new travelers to choose Southwest as we begin service from their preferred airport.”
*Southwest has never charged change fees. A fare difference might apply. **Southwest allows travelers to check up to two bags for free (size and weight limits apply).
Chicago (O’Hare) service begins February 14, 2021 More than 35 years after landing at Chicago Midway International Airport, Southwest will expand its footprint in the Chicagoland area, adding complementing service from Chicago O’Hare International Airport starting Feb. 14, 2021. The carrier’s initial service will offer 20 departures daily from O’Hare, and the new service is available for purchase at Southwest.com with fares as low as:
– $39 one-way nonstop between Chicago (O’Hare) and Nashville (four times daily);
– $79 one-way nonstop between Chicago (O’Hare) and Baltimore/Washington (four times daily);
– $89 one-way nonstop between Chicago (O’Hare) and Denver (six times daily);
– $99 one-way nonstop between Chicago (O’Hare) and Dallas (Love Field) (four times daily)
– $109 one-way nonstop between Chicago (O’Hare) and Phoenix (twice daily).
The number of seats, days of week, and markets for these fares are limited. See full fares, and specific terms and conditions below and at Southwest.com.
During its more than three-decades of service to Chicago, Southwest has grown to become Chicago Midway’s largest airline while also employing more than 4,800 People in the city.
Colorado Springs service begins March 11, 2021 Southwest will also launch service from its fourth destination in Colorado when it takes off from Colorado Springs Municipal Airport on March 11, 2021. The new service links the Pikes Peak region nonstop with up to 13 flights a day to destinations across Southwest’s growing network. The new service is available now at Southwest.com with fares as low as:
– $29 one-way nonstop between Colorado Springs and Denver (four times daily);
– $59 one-way nonstop between Colorado Springs and Las Vegas (twice daily);
– $59 one-way nonstop between Colorado Springs and Phoenix (twice daily);
– $69 one-way nonstop between Colorado Springs and Dallas (Love Field) (three times daily)
– $89 one-way nonstop between Colorado Springs and Chicago (Midway) (twice daily).
Southwest continues growing across Colorado with new seasonal service to both Montrose (Telluride) and Steamboat Springs (Hayden) beginning Dec. 19, 2020. Just a few weeks later, on Jan. 3, 2021, Southwest will celebrate its 15th anniversary of service to Denver where it now employs more than 4,000 People and currently offers up to 220 nonstop departures per day during peak travel periods.
– Financial results continue to be significantly impacted by COVID-19 and the 737 MAX grounding
– Proactively managing liquidity and transforming for the future
– Revenue of $14.1 billion, GAAP loss per share of ($0.79) and core (non-GAAP)* loss per share of ($1.39)
– Operating cash flow of ($4.8) billion; cash and marketable securities of $27.1 billion
– Total backlog of $393 billion, including more than 4,300 commercial airplanes
Table 1. Summary Financial Results
Third Quarter
Nine Months
(Dollars in Millions, except per share data)
2020
2019
Change
2020
2019
Change
Revenues
$14,139
$19,980
(29)%
$42,854
$58,648
(27)%
GAAP
(Loss)/Earnings From Operations
($401)
$1,259
NM
($4,718)
$229
NM
Operating Margin
(2.8)%
6.3%
NM
(11.0)%
0.4%
NM
Net (Loss)/Earnings
($466)
$1,167
NM
($3,502)
$374
NM
(Loss)/Earnings Per Share
($0.79)
$2.05
NM
($6.10)
$0.66
NM
Operating Cash Flow
($4,819)
($2,424)
NM
($14,401)
($226)
NM
Non-GAAP*
Core Operating (Loss)/Earnings
($754)
$895
NM
($5,773)
($864)
NM
Core Operating Margin
(5.3)%
4.5%
NM
(13.5)%
(1.5)%
NM
Core (Loss)/Earnings Per Share
($1.39)
$1.45
NM
($7.88)
($1.13)
NM
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 5, “Non-GAAP Measures Disclosures.”
The Boeing Company [NYSE: BA] reported third-quarter revenue of $14.1 billion, GAAP loss per share of ($0.79) and core loss per share (non-GAAP)* of ($1.39), reflecting lower commercial deliveries and services volume primarily due to COVID-19 (Table 1). Boeing recorded operating cash flow of ($4.8) billion.
“The global pandemic continued to add pressure to our business this quarter, and we’re aligning to this new reality by closely managing our liquidity and transforming our enterprise to be sharper, more resilient and more sustainable for the long term,” said Boeing President and Chief Executive Officer Dave Calhoun. “Our diverse portfolio, including our government services, defense and space programs, continues to provide some stability for us as we adapt and rebuild for the other side of the pandemic. We remain focused on the health and safety of our employees and their communities. I’m proud of the dedication and commitment our teams have demonstrated as they continued to deliver for our customers in this challenging environment. Despite the near-term headwinds, we remain confident in our long term future and are focused on sustaining critical investments in our business and the meaningful actions we are taking to strengthen our safety culture, improve transparency and rebuild trust.”
Following the lead of global regulators, Boeing made steady progress toward the safe return to service of the 737 MAX, including rigorous certification and validation flights conducted by the U.S. Federal Aviation Administration, Transport Canada and the European Union Aviation Safety Agency. The Joint Operational Evaluation Board, featuring civil aviation authorities from the United States, Canada, Brazil, and the European Union, also conducted its evaluations of updated crew training. The 737 MAX has now completed around 1,400 test and check flights and more than 3,000 flight hours as it progresses through the robust and comprehensive certification process.
To adapt to the market impacts of COVID-19 and position the company for the future, Boeing continued its business transformation across five key areas including its infrastructure footprint, overhead and organizational structure, portfolio and investment mix, supply chain health and operational excellence. As the company resizes its operations to align with market realities, Boeing expects to continue lowering overall staffing levels through natural attrition as well as voluntary and involuntary workforce reductions, and recorded additional severance costs in the third quarter.
Table 2. Cash Flow
Third Quarter
Nine Months
(Millions)
2020
2019
2020
2019
Operating Cash Flow
($4,819)
($2,424)
($14,401)
($226)
Less Additions to Property, Plant & Equipment
($262)
($465)
($1,038)
($1,387)
Free Cash Flow*
($5,081)
($2,889)
($15,439)
($1,613)
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 5, “Non-GAAP Measures Disclosures.”
Operating cash flow was ($4.8) billion in the quarter, reflecting lower commercial deliveries and services volume primarily due to COVID-19, as well as timing of receipts and expenditures (Table 2).
Table 3. Cash, Marketable Securities and Debt Balances
Quarter-End
(Billions)
Q3 20
Q2 20
Cash
$10.6
$20.0
Marketable Securities1
$16.5
$12.4
Total
$27.1
$32.4
Debt Balances:
The Boeing Company, net of intercompany loans to BCC
$59.1
$59.5
Boeing Capital, including intercompany loans
$1.9
$1.9
Total Consolidated Debt
$61.0
$61.4
1Marketable securities consists primarily of time deposits due within one year classified as “short-term investments.”
Cash and investments in marketable securities decreased to $27.1 billion, compared to $32.4 billion at the beginning of the quarter, primarily driven by operating cash outflows (Table 3). Debt was $61.0 billion, down from $61.4 billion at the beginning of the quarter due to the repayment of maturing debt.
Total company backlog at quarter-end was $393 billion.
Segment Results
Commercial Airplanes
Table 4. Commercial Airplanes
Third Quarter
Nine Months
(Dollars in Millions)
2020
2019
Change
2020
2019
Change
Commercial Airplanes Deliveries
28
62
(55)%
98
301
(67)%
Revenues
$3,596
$8,249
(56)%
$11,434
$24,793
(54)%
Loss from Operations
($1,369)
($40)
NM
($6,199)
($3,813)
NM
Operating Margin
(38.1)%
(0.5)%
NM
(54.2)%
(15.4)%
NM
Commercial Airplanes third-quarter revenue decreased to $3.6 billion, reflecting lower delivery volume primarily due to COVID-19 impacts as well as 787 quality issues and associated rework. Third-quarter operating margin decreased to (38.1) percent, primarily driven by lower delivery volume, as well as $590 million of abnormal production costs related to the 737 program.
Commercial Airplanes added the final 777X flight test airplane to the test program and the GE9X engine received FAA certification. In October, the company decided it will consolidate 787 production in South Carolina in mid-2021, which did not have a significant financial impact on the program in the third quarter. Commercial Airplanes delivered 28 airplanes during the quarter, and backlog included over 4,300 airplanes valued at $313 billion.
Defense, Space & Security
Table 5. Defense, Space & Security
Third Quarter
Nine Months
(Dollars in Millions)
2020
2019
Change
2020
2019
Change
Revenues
$6,848
$7,002
(2)%
$19,478
$20,168
(3)%
Earnings from Operations
$628
$754
(17)%
$1,037
$2,581
(60)%
Operating Margin
9.2%
10.8%
(1.6) Pts
5.3%
12.8%
(7.5) Pts
Defense, Space & Security third-quarter revenue decreased to $6.8 billion, primarily due to derivative aircraft award timing, partially offset by higher fighter volume (Table 5). Third-quarter operating margin decreased to 9.2 percent reflecting less favorable performance, including a $67 million KC-46A Tanker charge.
During the quarter, Defense, Space & Security received an award for eight F-15EX advanced fighter aircraft for the U.S. Air Force and a contract extension for the International Space Station for NASA, as well as contracts for nine additional MH-47G Block II Chinook helicopters for the U.S. Army Special Operations and four additional 702X satellites. Also in the quarter, the U.S. Air Force and Boeing team was awarded the Collier Trophy for aerospace excellence for the X-37B autonomous spaceplane. Significant milestones included inducting the 20th U.S. Navy F/A-18 into the Service Life Modification program as well as delivering the firstBell Boeing V-22 Osprey to Japan and the first MH-47G Block II Chinook to the U.S. Army Special Operations.
Backlog at Defense, Space & Security was $62 billion, of which 30 percent represents orders from customers outside the U.S.
Global Services
Table 6. Global Services
Third Quarter
Nine Months
(Dollars in Millions)
2020
2019
Change
2020
2019
Change
Revenues
$3,694
$4,658
(21)%
$11,810
$13,820
(15)%
Earnings from Operations
$271
$673
(60)%
$307
$2,013
(85%)
Operating Margin
7.3%
14.4%
(7.1) Pts
2.6%
14.6%
(12.0) Pts
Global Services third-quarter revenue decreased to $3.7 billion, driven by lower commercial services volume due to COVID-19, partially offset by higher government services volume (Table 6). Third-quarter operating margin decreased to 7.3 percent primarily due to lower commercial services volume and additional severance costs.
During the quarter, Global Services signed an agreement with GECAS for 11 737-800 Boeing Converted Freighters, secured a six-year P-8A support contract for the Royal Australian Air Force, and was awarded F-15EX training and services support contracts by the U.S. Air Force. Global Services also delivered the first P-8A Operational Flight Trainer for the United Kingdom Royal Air Force.
Additional Financial Information
Table 7. Additional Financial Information
Third Quarter
Nine Months
(Dollars in Millions)
2020
2019
2020
2019
Revenues
Boeing Capital
$71
$66
$205
$207
Unallocated items, eliminations and other
($70)
$5
($73)
($340)
Earnings from Operations
Boeing Capital
$30
$29
$47
$86
FAS/CAS service cost adjustment
$353
$364
$1,055
$1,093
Other unallocated items and eliminations
($314)
($521)
($965)
($1,731)
Other income, net
$119
$121
$325
$334
Interest and debt expense
($643)
($203)
($1,458)
($480)
Effective tax rate
49.6%
0.8%
40.1%
(350.6)%
At quarter-end, Boeing Capital’s net portfolio balance was $2.0 billion. The change in revenue and earnings from other unallocated items and eliminations was primarily due to the timing of cost allocations. Earnings from other unallocated items and eliminations was also impacted by lower enterprise research and development expense. Interest and debt expense increased due to higher debt balances. The third quarter effective tax rate reflects tax benefits related to the five year net operating loss carryback provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act as well as the impact of pre-tax losses.
Non-GAAP Measures Disclosures
We supplement the reporting of our financial information determined under Generally Accepted Accounting Principles in the United States of America (GAAP) with certain non-GAAP financial information. The non-GAAP financial information presented excludes certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures provide investors with additional insight into the company’s ongoing business performance. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. The following definitions are provided:
Core Operating Earnings, Core Operating Margin and Core Earnings Per Share
Core operating earnings is defined as GAAP earnings from operations excluding the FAS/CAS service cost adjustment. The FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Core operating margin is defined as core operating earnings expressed as a percentage of revenue. Core earnings per share is defined as GAAP diluted earnings per share excluding the net earnings per share impact of the FAS/CAS service cost adjustment and Non-operating pension and postretirement expenses. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. Pension costs, comprising service and prior service costs computed in accordance with GAAP are allocated to Commercial Airplanes and BGS businesses supporting commercial customers. Pension costs allocated to BDS and BGS businesses supporting government customers are computed in accordance with U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than GAAP. CAS costs are allocable to government contracts. Other postretirement benefit costs are allocated to all business segments based on CAS, which is generally based on benefits paid. Management uses core operating earnings, core operating margin and core earnings per share for purposes of evaluating and forecasting underlying business performance. Management believes these core earnings measures provide investors additional insights into operational performance as they exclude non-service pension and post-retirement costs, which primarily represent costs driven by market factors and costs not allocable to government contracts. A reconciliation between the GAAP and non-GAAP measures is provided on pages 12-13.
Free Cash Flow
Free cash flow is GAAP operating cash flow reduced by capital expenditures for property, plant and equipment. Management believes free cash flow provides investors with an important perspective on the cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long term value creation. Free cash flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. Management uses free cash flow as a measure to assess both business performance and overall liquidity. Table 2 provides a reconciliation of free cash flow to GAAP operating cash flow.
Caution Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and similar expressions generally identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are risks related to: (1) the COVID-19 pandemic and related government actions, including with respect to our operations, our liquidity, the health of our customers and suppliers, and future demand for our products and services; (2) the 737 MAX, including the timing and conditions of 737 MAX regulatory approvals, lower than planned production rates and/or delivery rates, and increased considerations to customers and suppliers, (3) general conditions in the economy and our industry, including those due to regulatory changes; (4) our reliance on our commercial airline customers; (5) the overall health of our aircraft production system, planned commercial aircraft production rate changes, our commercial development and derivative aircraft programs, and our aircraft being subject to stringent performance and reliability standards; (6) changing budget and appropriation levels and acquisition priorities of the U.S. government; (7) our dependence on U.S. government contracts; (8) our reliance on fixed-price contracts; (9) our reliance on cost-type contracts; (10) uncertainties concerning contracts that include in-orbit incentive payments; (11) our dependence on our subcontractors and suppliers, as well as the availability of raw materials; (12) changes in accounting estimates; (13) changes in the competitive landscape in our markets; (14) our non-U.S. operations, including sales to non-U.S. customers; (15) threats to the security of our or our customers’ information; (16) potential adverse developments in new or pending litigation and/or government investigations; (17) customer and aircraft concentration in our customer financing portfolio; (18) changes in our ability to obtain debt financing on commercially reasonable terms and at competitive rates; (19) realizing the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures; (20) the adequacy of our insurance coverage to cover significant risk exposures; (21) potential business disruptions, including those related to physical security threats, information technology or cyber-attacks, epidemics, sanctions or natural disasters; (22) work stoppages or other labor disruptions; (23) substantial pension and other postretirement benefit obligations; and (24) potential environmental liabilities.
Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
– Loyalty programme’s strong and active global membership has been built on continuous innovation and value-driven initiatives for members
Emirates Skywards, the award-winning loyalty programme of Emirates and flydubai, has marked 20 years of excellence, innovation and unmatched rewards. Over the past two decades, the loyalty programme has continued to grow its membership base by offering value and rich, personalised experiences to its members around the world.
The programme has continually invested to diversify its brand partnerships, and utilise innovative digital technology, so that it can offer its members across the globe with more ways to earn and enjoy rewards, conveniently and via new touchpoints.
From a million members in 2005, to 27 million members in 2020
The loyalty programme has 27 million members worldwide, of which, more than 32,000 are founding members who joined the programme in 2000 and are still active. In celebration of its 20th anniversary, Emirates Skywards is offering members double Tier Miles on any flight booked by 10 December, for travel until 31 March 2021,* while founding members can earn double Tier Miles and double Skywards Miles on any flight booked by 10 December, for travel until 31 August 2021*
Emirates Skywards members come from more than 180 countries, including: 3.5 million members in the United Kingdom, 2.7 million in the United States, 2 million in Australia, 1.9 million in India, and 1.9 million in the United Arab Emirates.
Offering more flexibility, choice, and ways to earn on the ground
Emirates Skywards has expanded its range of partners over the past 20 years to create new, exciting and exceptional value offerings for its diverse membership base. The loyalty programme currently has nearly 200 partners, including: 16 airline partners; more than 100 hotel partners; 33 financial partners, 22 retail and lifestyle partners, 7 car rental partners.
Earlier this year, the loyalty programme launched skywardsmilesmall.com – introducing over a thousand new ways to earn Miles while shopping online with popular UK and US brands. Expanding its financial partnerships, the loyalty programme has launched the Emirates Skywards Mastercard® in partnership with Barclays – its first Emirates branded credit card in the U.S allowing customers to accumulate even more Skywards Miles on their everyday spend and travel purchases.
‘My Family’ programme, which launched in 2018, has enhanced its features to now accept family members pooling up to 100% of all Skywards Miles earned, not just on Emirates flights – allowing customers to redeem rewards even faster than before.
Members can also earn thousands of Miles with Emirates Skywards Hotels at over 400,000 hotels, in over 900 destinations worldwide – and up to 2,500 bonus Miles per night, when using a co-branded Emirates Skywards credit card for payment.
Emirates Skywards’ introduction of personalised offers integrated within the booking flow is an industry-first loyalty benefit, whereby logged-in members can avail enhanced Cash+Miles redemption rates and discounted Miles Upgrades when booking flights directly on emirates.com and the Emirates app. These exclusive offers are tailored to suit each member’s preference – offering vast opportunities to save on travel costs.
Reassuring members during COVID-19
With continued travel restrictions due to the COVID-19 global pandemic, Emirates Skywards is offering its members reassurance and flexibility during this difficult time.
Emirates Skywards Silver, Gold and Platinum members have had their tier review dates extended to enable an additional 12 months at their current status.
MEXICO CITY, /PRNewswire/ — Volaris (NYSE: VLRS and BMV:VOLAR), the ultra-low-cost airline serving Mexico, the United States and Central America, reports September2020 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. Demandmeasured 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.
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Queensland is poised to take another bold step in aerospace and advanced manufacturing with an historic opportunity to be the final production home for unmanned defence aircraft – the first military aircraft to be designed, engineered and manufactured in Australia in more than 50 years.
Premier Annastacia Palaszczuk said a visionary new partnership with Boeing Australia means more high-skilled jobs, local supply opportunities and defence industry stimulus as Queensland continues to recover and grow from the COVID downturn.
Our investment in this advanced manufacturing project will provide critical skills for suppliers, academia and Boeing, and culminate in Queensland becoming the primary final assembly facility for the Boeing Airpower Teaming System, conditional on orders.
The first aircraft prototype, called the Loyal Wingman, was unveiled with the Royal Australian Air Force in May this year.
Treasurer Cameron Dick said the Boeing partnership demonstrated the Palaszczuk government’s commitment to advanced manufacturing.
“Manufacturing is a vital part of the Queensland economy, which is why supporting manufacturing is one of the centrepieces of our Unite and Recover Economic Recovery Plan,” the treasurer said.
“Our government’s longstanding commitment to advanced manufacturing is one of the reasons Queensland is already home to Boeing’s largest workforce outside the United States.
“Boeing has 1,700 staff in Queensland and supports 400 Queensland-based suppliers.
Boeing Australia, New Zealand and South Pacific President Brendan Nelson said the partnership with the Queensland government to develop an advanced manufacturing capability was a significant milestone for the company.
“This includes introducing technologies such as advanced robotics; investment in universities, small-to-medium enterprises and start-up companies; as well as creating global export opportunities for Australia’s supply chain.
Hyatt Hotels Corporation (NYSE: H) today announced the opening of three different distinct hotels across the United States. The new properties include the Grand Hyatt Nashville, Hotel Kansas City, part of The Unbound Collection, and the Hyatt Centric Center City Philadelphia.
The Grand Hyatt Nashville
“Hyatt remains committed to thoughtfully growing our full-service portfolio of brands across the United States,” said Pete Sears, Americas group president, Hyatt. “Hyatt’s purpose of care and our ability to offer guests a customized experience is at the center of these exciting new openings. We believe there is a strong pent-up demand for travel and these new Hyatt hotels are well positioned to offer locally inspired programming, curated experiences and elevated services which our loyal members and guests expect from Hyatt.”
Hotel Kansas City, part of the Unbound Collection
The Hyatt Centric Center City Philadelphia is a brand new built 332-room upscale lifestyle hotel that includes 22 suites centrally located in the heart of downtown Philadelphia. The hotel features contemporary guest rooms and amenities, with more than 5,000 square feet worth of meeting space, a lobby bar and restaurant with American cuisine, and a grab and go market.
Located in Philadelphia’s desirable Rittenhouse Square neighborhood, the location is steps away from tree-filled parks, outdoor gardens, splendid architecture, upscale dining, boutique shops, and a robust nightlife. Located eight miles from Philadelphia International Airport, Hyatt Centric Center City Philadelphia connects travelers with popular Philadelphia historical and cultural attractions in the museum district and Independence National Historic Park.
Embraer today announced that the Synthetic Vision Guidance System (SVGS) for the midsize Praetor 500 and super-midsize Praetor 600 business jets was awarded certification by both the civil aviation authority of Brazil, Agência Nacional de Aviação Civil (ANAC), and the civil aviation authority of the United States, the Federal Aviation Administration (FAA). Embraer is the first OEM to receive SVGS certification approval.
The SVGS provides pilots with a dynamic perception of position, trend, and motion, facilitating the transition to utilizing visual references and enabling the safe completion of more missions during inclement weather and lower ceiling approaches. The system allows pilots to operate the aircraft to a decision height of 150 feet (SA-CAT I), as opposed to the regular decision height of 200 feet, increasing operational efficiency and allowing access to several airports during inclement weather and lower ceiling approaches. The SVGS can be used with or without the Head-Up Display (HUD) and is now available for new aircraft and fully retrofittable on all Legacy 450, Legacy 500, Praetor 500, and Praetor 600 aircraft at any Embraer Owned or Authorized Service Center.
“At Embraer, we are committed to continuously improving our already industry-leading products to deliver the ultimate experience in business aviation. Just two months after certifying the electric pocket door and making the HEPA filter standard, we are proud to certify another Praetor 500 and Praetor 600 innovation,” said Michael Amalfitano, President & CEO, Embraer Executive Jets. “Thanks to our unparalleled engineering team and world-class partnership with Collins Aerospace, Embraer is proud to offer business aviation’s first Synthetic Vision Guidance System on the Praetor 500 and Praetor 600, further solidifying their position as the most disruptive and technologically advanced midsize business jets in the market.”
Independent of the Embraer Enhanced Vision System (E2VS), the SVGS is an optional addition to the acclaimed Collins Aerospace Pro Line Fusion flight deck on the Praetor 500 and Praetor 600. The SVGS can be installed either with or without E2VS, delivering even greater flexibility and safety options. When installed alone, SVGS allows for enviable situational awareness, without the investment required for E2VS. When installed together, the aircraft’s operational efficiency is further improved, allowing for even better utilization of the Praetor’s unparalleled short runway performance.
Boeing [NYSE: BA], Honeywell Aerospace and Rolls-Royce Deutschland Ltd. have reached an agreement to provide in-service support of the T-55 engine should the government of Germany select the H-47 Chinook for its Schwerer Transporthubschrauber (STH) heavy-lift helicopter requirement.
Since the forming of the Chinook Germany Industry Team in 2018, originally comprised of nine German companies, Boeing continues to build a strong industry team to provide the Luftwaffe with local long-term services support, maintenance and training of the Chinook over the next several decades. In addition, Boeing’s industrial plan will foster German economic growth while creating highly skilled jobs in country.
“The partnership between Honeywell, Rolls-Royce Deutschland and our industry team members provides an established local supply base for around-the-clock parts availability, NATO interoperability and streamlined aircraft maintenance procedures,” said Michael Hostetter, vice president of Boeing Defense, Space & Security in Germany. “The Luftwaffe will have access to training and sustainment solutions that ensures the H-47 Chinook’s readiness for any mission.”
Under the agreement, Honeywell will license Rolls-Royce Deutschland as its partner in Germany to perform depot-level maintenance of the Chinook T-55 engine operated by the Luftwaffe.
Our partnership with Boeing and Rolls-Royce Deutschland will provide the Luftwaffe with access to a world-class maintenance and repair and overhaul facility for the T-55 in Germany. The in-country location will also ensure fast and flexible reactions to cater to the demanding needs of the Luftwaffe.
The H-47 Chinook is the most advanced transport rotorcraft in the United States Army inventory. With a proven track record of performance and versatility unmatched by any other heavy-lift aircraft, the Chinook provides Germany with the most modern, affordable solution ready to operate today. As chosen by NATO nations Canada, Greece, Italy, Spain, Turkey, the Netherlands, the United Kingdom and the United States, the Chinook gives Germany interoperability that other helicopters cannot while meeting a wide range of mission needs.
Boeing has an established and growing presence in Germany. The company is a strong contributor to the German economy with more than 1,000 employees at 11 sites from Hamburg to Munich and sustains thousands of additional jobs through its supply chain and other activities. Boeing and its supply-chain partners spend almost $1.2 billion a year with its established network of suppliers located across Germany. Germany is a key market for Boeing to invest in research and technology partnerships. Boeing has established two research sites in Germany, the Research & Technology Office in Munich and the Digital Solutions & Analytics Lab Frankfurt and invests in a growing portfolio of research and technology projects with German industry, universities and research organizations.
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. Boeing employs more than 160,000 people worldwide 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.
In 2015, Mobile, Alabama became home to Airbus’ first US-based commercial aircraft manufacturing facility. Now celebrating five years of production, it has grown from an initial workforce of around 250 staff producing A320 Family aircraft, to 1,000 employees building both the A220 and A320 aircraft families. To date, the factory has delivered more than 180 A320 Family aircraft to eight customers; aircraft which have subsequently flown 60 million passengers 500 million miles.
For Airbus, commercial aircraft production in Mobile signified two things: its position as a truly global aircraft company, and that it was also a truly American manufacturer. With the addition of this brand new US operation to the company’s A320 production network in Europe and Asia, Airbus had strategically augmented its worldwide industrial base in America – the largest single-aisle aircraft market in the world – to be closer to its US-based customers and key supplier partners.
Enter the A220 Family
The journey of Airbus’ investment in Mobile took a major stride in October 2017 when it announced the decision to introduce a second aircraft programme to the site: the A220 Family, entailing a second assembly line to be built adjacent to the original A320 plant – which would also complement the A220’s primary production site in Mirabel, Quebec, Canada. The arrival into the US of this newest Single-Aisle Family member was an important testament to the confidence that Airbus had in Mobile, and the confidence in the team there to make it happen. Fast-forward to the present, and the first US-built A220 is already in its final stages of manufacture for Delta Air Lines – which will roll-out in the very near future.
Prior to the introduction of the A220 and expansion of the A320 facilities, the Mobile site sat on 116 acres. Today Airbus has added another 70 acres of real-estate which accommodates: two new final phase/flight-line hangars (four bays); an enlarged delivery centre with four new aircraft parking spaces; a ‘pre-transshipment’ hangar and of course the new ‘flow-line’ final assembly line (FAL) building itself. Notably, the delivery centre will be named after one of the company’s former leaders, Tom Enders. Enders supported and drove the establishment of a new Airbus aircraft factory in the US during his tenure as CEO of Airbus.
Doubling local industrial footprint in five years
When complete, nearly US$1 billion will have been invested in Mobile – to create new state-of-the-art facilities designed and built primarily by local companies. In short, Airbus has doubled its footprint there in just five years – establishing a new manufacturing home for Airbus’ Single-Aisle Family. Moreover, a recent study* concluded that Airbus’ total economic impact throughout the state of Alabama in five years was US$1.2 billion, supporting more than 15,000 jobs through construction and payroll.
