Tag: lease (Page 8 of 8)

Fiji Airways to Become A350 XWB Operator

May 6, 2019 / WIL BALDWIN

Fiji Airways has adopted the A350 XWB as part of its expansion plans to broaden its international network. Two A350-900s will be leased from Dubai-based DAE Capital, making Fiji Airways the newest operator and DAE Capital the latest customer.

With its common type rating with the A330 Family, the A350 XWB was the natural aircraft choice to seamlessly join the airline’s existing fleet of four A330s. The common rating between the A350 XWB and A330 means that pilots who are qualified and current on the A330 can already commence preparations to take the A350 XWB’s controls by undergoing “differences training” only, meaning a significant cost savings and operational flexibility.

The aircraft will be configured with 33 full lie-flat Business Class and 301 Economy Class seats. The aircraft will be deployed to enhance existing long-haul services between Fiji, Australia and the U.S., and to provide the opportunity to open additional routes.

The A350 XWB is the world’s most modern and eco-efficient aircraft family shaping the future of air travel. It is the long-range leader in the large widebody market (300 to 400+ seats). The A350 XWB offers by design unrivalled operational flexibility and efficiency for all market segments up to ultra-long haul (9,700 nm). It features the latest aerodynamic design, carbon fibre fuselage and wings, plus new fuel-efficient Rolls-Royce engines. Together, these latest technologies translate into unrivalled levels of operational efficiency, with a 25% reduction in fuel burn and emissions. The A350 XWB’s Airspace by Airbus cabin is the quietest of any twin-aisle and offers passengers and crews the most modern in-flight products for the most comfortable flying experience. At the end of March 2019, the A350 XWB Family had received 890 firm orders from 50 customers worldwide, making it one of the most successful widebody aircraft ever.

@FijiAirways #A350 @DubaiAerospace

Air Mauritius Takes Delivery Of Its First A330neo

April 18, 2019 / WIL BALDWIN

Air Mauritius has taken delivery of its first A330-900, on lease from ALC during a ceremony held in Toulouse. The national carrier of the Republic of Mauritius is the first A330neo operator based in the southern hemisphere, and the first airline in the world to operate a combination of both the A330neo and A350 XWB.

Benefiting from the A330neo’s unbeatable operating economics and award-winning Airspace cabin, the aircraft (named Aapravasi Ghat in reference to Mauritius’ history) will feature a two-class cabin with 28 business class seats and 260 economy class seats. The carrier will deploy the aircraft on routes connecting Mauritius to Europe (mainly London and Geneva), India and South East Asian routes and on regional destinations including Johannesburg, Antananarivo and Reunion Island.

Air Mauritius CEO Somas Appavou stated: “I am delighted to welcome our first Airbus A330neo, another milestone in our fleet modernisation programme. The addition of two A330neos to our fleet will bring more flexibility and efficiency to our operations while supporting our network strategy. The A330neo offers similar levels of comfort as the A350 XWB, which has received very favourable feedback from our customers. I strongly believe that with the addition of the A330neo to our fleet, Air Mauritius will further reinforce its focus and emphasis on the customer who are at the very core of our business model.”

“Sugar and spice and all things nice! Like its namesake, inspired by the island’s history in developing the sugar industry, their first A330neo will pioneer Air Mauritius into a whole different level of efficiency and flexibility by operating both the A330neo and the A350 XWB, our latest generation widebodies”, said Christian Scherer, Airbus Chief Commercial Officer. “Passengers will enjoy unmatched levels comfort in our award winning ‘Airspace by Airbus’ cabins on both aircraft. Well done to our trusted partner on being the world’s first airline to operate the A330neo and the A350 XWB together – a sweet combination!”

Air Mauritius currently operates nine Airbus aircraft, of which two A350-900s, three A340-300s, two A330-200s and two A319s on its regional and long haul services.

The A330neo Family is the new generation A330, comprising two versions: the A330-800 and A330-900 sharing 99 percent commonality. It builds on the proven economics, versatility and reliability of the A330 Family, while reducing fuel consumption by about 25% per seat versus previous generation competitor aircraft and offering an unrivalled range capability. The A330neo is powered by Rolls-Royce’s latest-generation Trent 7000 engines and features a new wing with increased span and new A350 XWB-inspired Sharklets.

With an order book of more than 1,700 aircraft from 120 customers to date, the A330 is the most popular widebody family.

@AirMauritius @Airbus #A330neo

Norwegian Air to Lease Planes, Turn Profitable in 2019

March 25, 2019 / WIL BALDWIN

OSLO (Reuters) – Norwegian Air will lease planes and postpone the sale of older models in its fleet following the grounding of Boeing 737 MAX aircraft, the airline said on Monday.

The budget carrier will also use some of its bigger Boeing 787 Dreamliners to offset the effects of the grounding of its 18 MAX jets – about 11 percent of its fleet.

The 737 MAX was grounded worldwide this month following a deadly crash in Ethiopia.

“In addition to continuing combining flights and reallocating aircraft, the company has decided to delay potential sales of six Boeing 737-800 aircraft and use available 787 Dreamliner capacity on high-volume routes, which will add flexibility,” Norwegian said in a statement.

“The company is further preparing to wetlease aircraft to fill the remaining capacity gap,” it added, referring to the industry practice of renting fully-staffed aircraft for a period of time.

Norwegian said earlier this month it would seek compensation from Boeing for costs resulting from the grounding of the global MAX fleet.

“The company has a good dialogue with Boeing and is confident of reaching a constructive agreement,” Norwegian said, without elaborating.

Norwegian Air CEO repeats plan to turn profitable in 2019

Norwegian Air aims to turn profitable this year, its chief executive said on Monday, reiterating plans to turn around the situation at the loss-making budget airline.

“We aim to become profitable in 2019,” Bjoern Kjos told Norwegian public broadcaster NRK. “We’re managing well as an independent company.”

(Reporting by Terje Solsvik)

SpiceJet in Talks to Lease Some of Jet Airways Airplanes

March 20, 2019 / WIL BALDWIN

NEW DELHI/BENGALURU (Reuters) – India’s SpiceJet Ltd could benefit from cash-strapped Jet Airways being forced to ground planes, and the low-cost carrier is in talks with lessors to lease some of those aircraft, a person with direct knowledge of the matter told Reuters.

Shares of SpiceJet rose as much as 7.2 percent on Wednesday in their biggest percentage gain since Dec. 18 as investors bet the airline could take advantage of Jet Airways’ woes.

SpiceJet last week was forced to ground its 12 Boeing Co 737 MAX 8 planes by India’s aviation watchdog, following safety concerns after the Ethiopian Airlines plane crash that killed 157 people.

SpiceJet and Jet Airways are the only carriers in India that operate this type of aircraft and have a total of about 400 on order. The airlines also operate the previous model, the 737-800 among other Boeing planes.

The 737-800 makes up the majority of the Jet Airways fleet, and the airline is now operating only 41 aircraft, the Directorate General of Civil Aviation (DGCA) said on Tuesday.

That means around two-thirds of its fleet is grounded for non-payment to lessors, maintenance or other reasons.

“Lessors are panicking as they haven’t been paid and if Jet goes for insolvency, their planes will be stuck in India, so many of them are chasing SpiceJet,” said the person quoted earlier.

The person said SpiceJet needs at least twelve 737s to cover the grounded MAX planes and it is negotiating for more. Jet Airways pilots are also queuing up to join the budget airline.

Jet Airways’ lessors have offered 50 aircraft to SpiceJet, according to a report by news wire IANS.

SpiceJet and Jet Airways did not immediately respond to a request for comment.

Jet Airways shares dropped about 7 percent on Wednesday as its financial crisis deepened, with the Indian government calling for an emergency meeting and pilots threatening to go on strike over unpaid salaries.

The government has asked state-run banks to rescue Jet Airways without pushing it into bankruptcy, two people within the administration have told Reuters, as Prime Minister Narendra Modi seeks to avert thousands of job losses weeks before a general election.

The 25-year-old airline has defaulted on loans after racking up over $1 billion in debt, and owes money to banks, suppliers, pilots and lessors – some of whom have started terminating their lease deals with the carrier.

This has forced Jet Airways to cancel hundreds of flights, leaving passengers stranded and angry. The number of Jet Airways flights has fallen by 80 percent from a year ago, according to the DGCA.

(By Aditi Shah and Tanvi Mehta, Additional reporting by Arnab Paul in Bengaluru, Editing by Sherry Jacob-Phillips and Shreejay Sinha)

FILE PHOTO: A Jet Airways passenger aircraft takes off from the airport in Ahmedabad, August 12, 2013. REUTERS/Amit Dave/File Photo

Air Lease Says Boeing Going ‘Full Speed Ahead’ on Midsized Jet

March 7, 2019 / WIL BALDWIN

(Reuters) – Boeing Co is indicating “full speed ahead” for a new midsized airplane in what would be the first all-new jet program for the world’s biggest planemaker in more than a decade, Air Lease Corp’s chief executive, John Plueger, said on Wednesday.

Boeing reiterated on Wednesday that it will make a decision in 2020 on whether to launch the plane, which aims to address the middle of the jet market between traditional narrowbody jets with one aisle and long-distance widebody planes. It can start seeking offers in 2019, subject to launch.

“Boeing is signalling full speed ahead but there’s still a lot to be decided in these programs,” Plueger said at a conference, noting the company had met with Boeing in Seattle on Friday.

In an emailed statement, Boeing said it is still working through the business case for the new jet, adding: “If we decide to offer the airplane and the market responds positively, we will proceed with a launch decision sometime in 2020.”

Air Lease, one of the largest aircraft lessors, said it sees interest in Boeing’s proposed mid-market aircraft from airlines, some of which are looking for longer range while others, such as Asian carriers, seek the lowest possible cost per seat kilometre.

Still, Boeing is taking a “thoughtful approach” to the potential project following a series of cost overruns and delays with its last jet program, the 787, and has yet to discuss possible pricing, Air Lease Executive Chairman Steven Udvar-Hazy said.

Air Lease will meet on Saturday with Airbus SE, which is preparing to counter the potential new jet by Boeing with a new version of its A321 and the larger A330neo.

While Boeing and Airbus have traditionally launched new jets alongside purchase commitments from airlines, interest by aircraft lessors like Air Lease is forming an increasingly important role in the decision-making process, industry sources have said.

Delta Air Lines Chief Executive Ed Bastian said on Monday that it is interested in a mid-market aircraft from Boeing to replace 200 757 and 767 aircraft over the next decade.

Last month, Rolls-Royce dropped out of the race to power Boeing’s planned jet, strengthening a leading position in the high-profile contest for a transatlantic venture involving General Electric Co and France’s Safran.

“Somebody had to drop out and the competition at this point is progressing normally,” Plueger said.

Pratt & Whitney is also a potential supplier for the new Boeing jet.

(Reporting by Tracy Rucinski in Chicago; Editing by Matthew Lewis)

Interest is rising for Boeing’s new 757 replacement jet!

Remembering Southwest Airlines Co-Founder Herb Kelleher

January 7, 2019 / WIL BALDWIN

(Reuters) – Herb Kelleher, who co-founded pioneering low-cost carrier Southwest Airlines Co and built it into an industry powerhouse stamped with his colorful, unconventional personality, died on Thursday at age 87, the U.S. carrier said.

Kelleher set up Southwest with Rollin King more than 50 years ago, with the airline making its first flight in June 1971. King died in 2014, aged 83.

Dallas-based Southwest is known for its quirky culture, closely connected with Kelleher’s maverick image, as well as its fast growth from a regional carrier into one of the biggest in the United States.

The airline flew short flights known as point-to-point, rather than the hub-and-spoke model of its bigger rivals, and used a single model of aircraft, Boeing Co’s 737, to cut complexity and cost.

Kelleher was “Grand Master Yoda of low fares airlines,” the chief executive of Europe’s largest low-cost carrier Ryanair said in a Twitter post on Friday.

“He was the leader, the visionary and the teacher: without Herb there would be no Ryanair and no low fares airlines anywhere,” said Michael O’Leary, who spearheaded the transformation of European air travel after a visit to Southwest in 1992.

Southwest’s cabin crews have become known for their good humor – a legacy of Kelleher, memorialized in a “laugh button” that visitors could press inside the company’s headquarters to hear his famous cackle.

Kelleher won the affection of customers and employees with low fares, good wages and his own high spirits. He sought to instill a sense of fun among employees, sometimes showing up in costume or helping unload baggage.

“A company is stronger if it is bound by love rather than by fear,” he was once quoted as saying.

Kelleher was also known for his fondness for smoking and bourbon.

John Plueger, chief executive of Air Lease Corp, said on Thursday that when he first met Kelleher more than 30 years ago, Kelleher was about to deliver a speech at a New York hotel. “The manager asked that he refrain from smoking. Herb looked up, smiled, and said: ‘No smokey, No talkey.’”

Kelleher was a formidable industry competitor as well.

“There aren’t a whole lot of individuals who you can point to that single-handedly contributed to building a demonstrable portion of the modern economy. Herb Kelleher was one,” tweeted Jon Ostrower, an independent aviation commentator and editor of TheAirCurrent.com.

“His model spawned the global democratization of the affordable movement of humanity by air.”

‘I LIKE TO WIN’

The New Jersey-born Kelleher served as Southwest’s executive chairman for 30 years until 2008 and was chief executive from September 1981 to June 2001.

Kelleher was long a towering figure in the U.S. airline industry along with Bob Crandall, his rival at American Airlines and polar opposite in style. The two built different business models and competed fiercely but with mutual respect.

“It was very hot competition and I like to win,” Kelleher told NPR in a 2016 podcast. Crandall, captured in a YouTube video, once serenaded Kelleher with a version of “My Way,” the song popularized by Frank Sinatra.

Steven Udvar-Hazy, executive chairman of Air Lease and a pioneer of the aircraft leasing industry, whose expansion coincided with the rise of budget carriers, paid tribute to Kelleher as “the builder of the world’s most successful low fare airline.””Herb: a final Wild Turkey Bourbon toast from all of your closest friends,” he added.

(Reporting by Manogna Maddipatla and Ismail Shakil in Bengaluru, Tim Hepher in Paris, Conor Humphries in Dublin and Jeffrey Dastin in San Francisco; Editing by Shailesh Kuber and Peter Cooney)

Air Lease Places Two New Airbus A321neo’s With Air Macau

December 5, 2018 / WIL BALDWIN

LOS ANGELES–(BUSINESS WIRE)–

Today Air Lease Corporation (NYSE: AL; “ALC”) announced a long-term lease agreement for two new Airbus A321neo aircraft with Air Macau. Featuring Pratt & Whitney PW1133G engines, the aircraft will deliver from ALC’s order book with Airbus in November 2019 and the first quarter of 2020.

“ALC has worked closely with Air Macau’s management team since 2010 and we are pleased to strengthen our long-standing relationship with the airline with this announcement today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “We are committed to providing the most modern, fuel-efficient aircraft to ALC customers and these two new A321neo aircraft will significantly enhance Air Macau’s fleet operations.”

“We are honored to announce the placement of these two new A321neo aircraft with Air Macau today,” said Jie Chen, Executive Vice President and Managing Director, Asia of Air Lease Corporation. “ALC values our relationship with the airline and these two new placements contribute to our long-term association.”

“Air Macau is thrilled to announce the placement of these two new A321neo aircraft with ALC,” said Chen Hong, Chief Executive Officer of Air Macau. “We are focused on continually enhancing and modernizing our fleet with the very best aircraft available, and these two new A321neo from ALC are key to optimizing our fleet development.”

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

About Air Lease Corporation (AL)

ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC’s website at www.airleasecorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181205005223/en/

FedEx Expands Fleet To Add 1,000 Chanje Electric Vans

November 20, 2018 / WIL BALDWIN

(Reuters) – FedEx Corp said on Tuesday it plans to add 1,000 Chanje electric delivery vans to its fleet of vehicles in a bid to save on fuel and cut down on pollution.

The package delivery company will buy 100 Chanje V8100 vans from the Los-Angeles based startup and lease the remaining from U.S. truck rental company Ryder System Inc.

United Parcel Service Inc, FedEx and Deutsche Post AG unit DHL have faced pressure from regulators around the world to lessen the environmental impact of their fleets.

UPS, FedEx and DHL have placed orders for Tesla Inc’s all-electric Semis and already use Workhorse Group Inc’s electric vans.

The Chanje electric vans will have a range of more than 150 miles when fully charged, with maximum cargo capacity of about 6,000 pounds.

Last year, Ryder said it would order electric delivery vans from Chanje and become the exclusive U.S. sales and lease partner for the company.

The Chanje V8100 vans are manufactured by FDG Electric Vehicles Ltd, the startup’s main investor, in Hangzhou, China.

The vans would be used for FedEx’s commercial and residential pick-up and delivery services in California.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Shounak Dasgupta)

Image from www.chanje.com

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