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Investment Firm 777 Partners Order 24 Boeing 737 MAX Airplanes

March 16, 2021 /

Boeing [NYSE: BA] and private investment firm 777 Partners announced today an agreement to add 24 737-8s to the firm’s diverse aviation portfolio, with purchase rights for an additional 60 airplanes. The Miami-based company will place the single-aisle airplanes with its growing portfolio of low-cost carrier investments around the world.

In addition to aircraft leasing, 777 Partners strategically invests in a host of aviation businesses, from operating carriers to technology-driven solutions. The firm’s travel sector strategy is largely focused on innovative solutions for interlining, passenger connectivity, and creating new commerce channels for its airline investments and customers.      

The 737-8 can fly 3,550 nautical miles, about 600 miles farther than its predecessor. This additional capability allows airlines to offer new and more direct routes for passengers. The 737-8 reduces fuel use and CO2 emissions by 16% compared to the airplanes it replaces, and that superior fuel efficiency means lower operating costs and a smaller environmental footprint. Every airplane features the new Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

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, leveraging 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.

777 Partners is a Miami-based private alternative investment firm that invests across a number of high growth attractive verticals. Founded in 2015, 777 Partners initially applied its expertise in underwriting and financing of esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation.

American Airlines Hits Milestones in Los Angeles Airport Construction Project

March 9, 2021 /

FORT WORTH, Texas ― American Airlines (Nasdaq: AAL) is on a journey of building a terminal for tomorrow, a substantial multi-year commitment to modernize our hub at Los Angeles International Airport (LAX) and improve the customer experience at LAX’s two busiest domestic terminals to make traveling as easy as possible.

The airline, which will celebrate 75 years of service to Los Angeles later this year, recently celebrated a significant milestone in its construction journey at LAX, in which team members signed their names onto a piece of history that will prominently live atop of the Terminal 4 and 5 CORE. The CORE is the primary, centralized structure that connects the terminal areas with the screening checkpoint, ticketing and baggage claim areas, as well as the Automated People Mover (ATM) train system, curbside and parking areas.

In a topping out ceremony, team members and leaders from American were joined by executives from Los Angeles World Airports (LAWA) to celebrate the final steel beam being raised into place and secured by its construction partners.

Despite the challenges presented by the COVID-19 pandemic, American has continued operating in both Terminals 4 and 5 alongside its construction partners, who have worked hard to ensure an on-time completion in October 2022.

The new state-of-the-art facility will have more efficient check-in and security screenings to reduce wait times, lessened roadway congestion with the new ATM and include increased seating and power outlets at the gates. The new departure halls will be spacious, and modern signage will make it easier for travelers to comfortably navigate the airport.

Some of the benefits and features of the redesigned terminal experience include:

  • Fully upgraded and modernized Terminal 4.
  • Unified 300,000-plus square-foot, 28-gate complex for Terminals 4 and 5.
  • A spacious new departure hall that allows direct natural sunlight throughout the building to reduce energy consumption.
  • Reconfigured ticket counter and check-in areas to reduce wait times before security screening.
  • Seamless access from check-in area directly to security screening areas.
  • 16 lanes for security screening with automated technology.
  • Transparent design with modern signage to intuitively guide passengers to their gates.
  • Modern, state-of-the-art finishes and restroom facilities.
  • Upgraded amenities at gate areas, including more access to power outlets and world-class dining and retail options.

Mesa Air Sets its Sights on International Growth

March 5, 2021 /

PHOENIX, March 02, 2021 (GLOBE NEWSWIRE) — Mesa Air Group, Inc. (NASDAQ: MESA) today announced it has entered into a conditional agreement with Gramercy Associates Ltd. based in London, England to develop a European based joint venture. The joint venture will apply for a new Air Operator’s Certificate (AOC) in the European Union using CRJ-900 aircraft with the goal of introducing a Capacity Purchase Agreement or ACMI (Aircraft, Crew, Maintenance, and Insurance) in passenger or cargo services in Europe. Gramercy Associates is headed by Tony Davis, former CEO of Tiger Airways and bmibaby.

Under the agreement, Mesa will own 49% of the partnership once the Air Operator’s Certificate is obtained. The current plan is to begin operations by the end of 2021.

Amtrak Announces Skip I-95 with Ultra Low Auto Train Fares to Florida

March 2, 2021 /

WASHINGTON – Amtrak is launching a limited-time fare sale for travelers to skip I-95 and travel nonstop from the Northeast to Florida onboard the Amtrak Auto Train. Tickets are available for purchase between March 2 – March 12 for travel to Sanford, Fla., in Coach for as low as $9 or in a private room for as low as $109 each way, plus the cost of your vehicle.

Customers traveling in Coach will enjoy wide, reclining seats with ample legroom, no middle seat and a big picture window to enjoy the view. Prior to arrival, a complimentary continental breakfast is served.

A Roomette features comfortable seating, newly-upgraded bedding, pillows, towels and linens, and a dedicated attendant. An upgrade to a Bedroom offers a trip with twice the space as a Roomette as well as other added amenities. Customers in private rooms can enjoy a complimentary dinner and continental breakfast onboard.

These limited-time one-way fares are as low as:

Limited Time Fares*One travelerTwo travelers^
Coach$9$18
Roomette$109$159
Bedroom$249$299
*Plus the cost of your vehicle
^Double occupancy required for Roomettes and Bedrooms. 

The offer is valid for sale March 2 – March 12, 2021 for southbound travel from Lorton, Va., to Sanford, Fla. Travel dates are March 15 – June 30, 2021.Blackout dates are April 2 and April 5, 2021. This offer is available on Amtrak.com and the Amtrak app. Other terms and conditions apply. To learn more, visit:

Amtrak.com/AutoTrainSale

The Amtrak Auto Train offers daily, non-stop service between Lorton, Va. (near Washington, D.C.), and Sanford, Fla. (near Orlando). Customers can skip I-95 and travel with their vehicles, including cars, vans, SUVs, motorcycles and even small boats or jet-skis. This is the only such service in the U.S. and eliminates nearly 900 miles of driving between the Northeast and all points in Florida.

Austrian Airlines sells three Boeing 767s to US company MDI

February 27, 2021 /

Austrian Airlines has found a buyer for the three long-haul aircraft that were up for sale. The Boeing 767-300ER aircraft will go to the U.S. company MonoCoque Diversified Interests. The purchase agreement has already been signed. The parties have agreed not to disclose the purchase price. The first aircraft, registered OE-LAT, will leave Vienna at the beginning of March for Pinal Airpark, Arizona. The aircraft is currently undergoing all the necessary preparations for the handover. The next transfer flight is scheduled for May with the Boeing 767 registered OE-LAX. 

“Being able to sell all three Boeing 767’s to one buyer is very gratifying and a big step for our fleet transition”, says Austrian Airlines CEO Alexis von Hoensbroech. “I would like to thank MonoCoque Diversified Interests for the good negotiations and our team for their great commitment.” 

“MDI is excited to continue the growth of its passenger and cargo aviation portfolio with the addition of three 767-300ERs”, adds MDI’s manager Mary Alice Keyes. “It has been a pleasure to work with Austrian Airlines, a group with a long history and outstanding pedigree.” 

At an average of 28.5 years, the three 767’s sold are among the oldest aircraft in the Austrian Airlines fleet. The remaining three 767’s are between 20 and 22 years of age. After the completed handover, Austrian Airlines will continue to have nine long-haul jets at its disposal, which will connect Austria with destinations around the globe – from the USA to the Far East. In detail, these are six Boeing 777’s with over 300 seats and three Boeing 767’s with over 200 seats. 

Until the beginning of 2022, 28 aircraft will leave the fleet of Austria’s home carrier: In addition to the aforementioned three Boeing 767-300ER’s, 18 Dash turboprops and seven Airbus A319 jets will be handed over. Ten turboprops have already left Vienna, with the remaining eight to follow soon. This means that the fleet will consist of around 60 aircraft by the beginning of 2022. As mainly smaller aircraft will be retired, this corresponds to a capacity reduction of around 20 percent.

SBB Swiss Rail to Offer Customers with Bicycles More Space and Reliability

February 26, 2021 /

SBB is improving its services for travelling with bicycles for the 2021 cycling season. It is taking this step in response to strong demand and to insufficient capacity last summer. On key leisure travel lines (Bern to Brig, Zurich to Chur) SBB is tripling capacity at times of high demand from 21 March. SBB will offer customers with bicycles more reliable journey planning: thanks to reservations, passengers taking along bikes can be sure that they will find space for them on trains. The price of bicycle reservations is reduced from CHF 5 to CHF 2. SBB presented the improved services to cycling, consumer and industry organisations today and outlined future prospects for traveling with bikes.

There has been a sharp increase in demand for travelling with bikes and holidays in Switzerland due to the coronavirus crisis. In some cases this has led to capacity shortages and dissatisfied customers who were unable to travel with their bike on the train they had planned to use. Around 80,000 Bike Day Passes were sold in the peak month of July 2020, for example, which is up by around 45% compared to the previous year. SBB also transported up to 15,000 bikes with self-service loading on the main axes of Zurich to Chur and Bern to Brig.

SBB expects demand for travel with bikes to continue to rise and is responding to this trend. This is why – together with Pro Velo and the Swiss Transport and Environment Association – it engaged in broad-based dialogue with cycling stakeholders as well as consumer and industry organisations on the issue of ‘sustainable travel with bicycles’. The aim is to offer customers reliable journey planning and reservations, to further improve and simplify services and to make them even more customer-friendly. SBB has a duty of responsibility towards all customers and wishes to provide services that meet and take account of the needs of all passengers as far as possible – including, for example, people with disabilities or families.

In view of the forthcoming cycling season, which begins on 21 March, SBB has introduced various changes to make travelling with bikes easier:

SBB is increasing capacity for the self-service loading of bicycles at times of high demand on the key leisure travel lines, tripling capacity compared to the current levels where possible. These routes include Bern to Brig and Zurich to Chur. Additional capacity will also be provided on routes to Ticino, Interlaken and the southern foot of the Jura. Passengers will be assisted with the loading of bicycles by SBB staff on these lines where possible.

In order to expand capacity medium and long-term, SBB is currently assessing which technical measures can be implemented long-term to create additional bicycle spaces on various types of train. Only minor modifications to rolling stock are possible in the short term.

Customers with bicycles need to be able to plan their journey reliably and safely. SBB makes this possible on all Swiss InterCity trains with a reservation costing CHF 2. Passengers who made a reservation can be certain that they will find space for their bike on the trains. Trains are labelled with the well-known bicycle symbol in the online timetable. Bikes can only be transported using self-service loading on trains labelled with this symbol if a reservation has been made and a valid bike ticket is presented. Reservations can be made up until shortly before departure in the SBB Mobile app. They can also be purchased at the counter or several days in advance via the SBB Contact Center

(tel. 0848 44 66 88)

The price for reservations will be reduced from CHF 5 to CHF 2 for a continuous connection – for example for a route with more than one section. International trains within Switzerland can now also be used for bike transport with a reservation, but prices and booking options may differ. Bikes can be transported with a valid bicycle ticket but without a reservation on regional services (R, S, RE trains) as well as on InterRegio trains (IR).

Grupo Viva Aerobus Reports Financial Results for Fourth Quarter and 2020

February 23, 2021 /

Mexico City, February 22, 2020. – Grupo Viva Aerobus today reported operating and financial results for 4Q20 and full year 2020, reflecting a recovery trend, amid the challenges of the pandemic, which began in the third quarter. This performance is the result of an adequate financial management, a strict expense control protecting the company’s liquidity and a responsible operational recovery which prioritizes health and safety for all passengers and staff.

During the 4Q, Viva Aerobus led the industry’s recovery, being the first airline in the Americas to resume 100% of its operational capacity, in November. Furthermore, Viva also consolidated as the first Mexican airline to grow its service at the end of the year by increasing its offer (available seats per kilometer) an 11% during December 2020 vs December 2019. In addition, the airline closed the year with 131 routes (103 domestic and 28 international), 12 more routes than the ones recorded at the end of 2019.

As a result of this recovery, added to an enhanced flexibility by permanently getting rid of charges for flight changes, Viva registered higher demand, closing 4Q20 with more than 2.9 million passengers, a 59% increase compared to 3Q2020. Moreover, the airline closed December with over one million of passengers registered, a similar figure reported in December 2019, before the pandemic.

This operational and passengers increase boosted the operating revenue to reach 3,237 million pesos in 4Q20, representing a 76.8% growth compared to 3Q20. Total operating revenue was composed 49% by fare revenue (1,589 million pesos) and 51% of ancillary revenue (1,647 million pesos). This revenue scheme represents the possibility that Viva Aerobus gives passengers to personalize their flights. Therefore, Viva takes care of their economy by offering low prices and giving the opportunity to pay only for what they need.

Due to this sequential increase in revenues, a positive EBITDAR was obtained for the second consecutive quarter, totaling 531 million pesos; this represented a sequential increase of 95% compared to 3Q20. Additionally, liquidity preservation stands out as attested in the cash and cash equivalents balance, recording 2,967 million pesos, a similar figure to the one reported in 3Q20. This reflects an assertive use of cash, taking advantage of an agile operational resumption, the support of the airline’s suppliers and the decisions to eliminate non-essential expenses.

These quarterly results softened the effects of the pandemic in the full year, considering that it was in the first half of 2020 when demand was most affected by the health emergency. Viva Aerobus registered more than 8.1 million annual passengers, a decrease of 32.4% compared to 2019. Consequently, total operating revenues reached 8,221 million pesos and EBITDAR totaled 946 million pesos, a 36.1% and 75.6% decrease, respectively.

To consult the full earnings report, please visit Viva Aerobus investor relations site: https://ri.vivaaerobus.com/en

Financial Indicators (MXN Million)4Q204Q19Ch. %20202019Ch. %
Total Revenue3,2373,728(13.2%)8,22112,874(36.1%)
EBITDAR*5311,122(52.7%)9463,875(75.6%)
EBITDAR Margin*16.4%30.1%(13.7 p.p.)11.5%30.1%(18.6 p.p.)
Operation (loss) income [EBIT]*(427)315(>100.0%)(2,619)935(>100.0%)
EBIT Margin*(13.2%)8.4%(21.6 p.p.)(31.9%)7.3%(39.1 p.p.)
Earnings Before Taxes (EBT)*(791)658(>100.0%)(3,881)579(>100.0%)
EBT Margin*(24.4%)17.7%(42.1 p.p.)(47.2%)4.5%(51.7 p.p.)
Net (loss) income*(558)420(>100.0%)(2,727)469(>100.0%)
Net Margin*(17.2%)11.3%(28.5 p.p.)(33.2%)3.6%(36.8 p.p.)

*Items not comparable with 2019 due to change in the functional currency conducted in 2020.

Operational Indicators4Q20*4Q19Ch. %2020*2019Ch. %
ASKs (million)4,3034,1533.6%11,67015,080(22.6%)
RPKs (million)3,4003,642(6.6%)9,39313,374(29.8%)
Total Passenger (thousands)2,9453,282(10.3%)8,12312,019(32.4%)
Load Factor (%)79.0%87.7%(8.7 p.p.)80.5%88.7%(8.2 p.p.)

Spirit Airlines Lines Up for a Landing in Louisville, Kentucky

February 23, 2021 /

LOUISVILLE, Ky., Feb. 23, 2021 /PRNewswire/ — America’s Gateway to the South will be bright yellow, now that Spirit Airlines (NYSE: SAVE) is on the way. Today the airline announced plans to add Louisville—one of the fastest-growing cities in the country—to its route map with nonstop daily service to four cities. Spirit plans to inaugurate service from the Louisville Muhammad Ali International Airport on Thursday, May 27, with flights to Fort Lauderdale (FLL), Orlando (MCO), Las Vegas (LAS) and SDF’s only nonstop flight to Los Angeles (LAX).

“It’s time to bring the best value in the sky to Louisville,” said John Kirby, Vice President of Network Planning for Spirit Airlines. “We can’t wait to welcome Guests from Kentucky into the Spirit family so they can enjoy our unbeatable combination of service, reliability, new planes and low fares when they take their next trip. Plus, we’ll get to introduce travelers to the Derby City’s mix of outdoor beauty, art and history, not to mention the bourbon.”

Flights from Louisville (SDF)
DestinationFlights Available:Launch Date:
Fort Lauderdale (FLL)Daily May 27, 2021
Las Vegas (LAS)DailyMay 27, 2021
Los Angeles (LAX)DailyMay 27, 2021
Orlando (MCO)DailyMay 27, 2021

Spirit’s flight 502 will be the only nonstop service to Los Angeles from Louisville, removing intermediate stops on the way and making quick trips between the two cities easier than ever. The airline continues to seize that kind of growth opportunity as demand for air travel increases. Earlier this month, the carrier announced an accelerated delivery schedule for new Airbus aircraft joining Spirit’s Fit Fleet™, which is among the youngest in the industry.

Fort Lauderdale, Las Vegas and Orlando are three of Spirit’s biggest cities, which means nonstop flights from SDF come with easy connections to nine additional destinations. Fort Lauderdale is also Spirit’s largest gateway to the Caribbean and Latin America, providing access to five countries.

2021 is off to a great start at Spirit Airlines. In January, the carrier launched its new Free Spirit® loyalty program, which is the fastest way to earn rewards and status.* Spirit is also one of only three U.S. airlines listed on FORTUNE’s 2021 list of World’s Most Admired® Companies, which measures companies with the strongest reputation within their industries. Spirit also earned “Platinum” status as the highest-rated low-fare carrier in the world for cleanliness and safety during the travel journey by the Airline Passenger Experience Association (APEX) Health Safety initiative powered by SimpliFlying.

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