Hyderabad, Telangana, India, January, 2024 – Delivering on its commitment to ‘Skill India’, Airbus Group SE (Paris: AIR) has entered into a 50:50 joint venture with the Tata-owned Air India to launch a world-class pilot training centre in Gurugram, Haryana. The Tata Airbus Training Center will offer A320 and A350 flight training to some 5,000 new pilots over 10 years. The sprawling 3,300 sq.mt. centre will be equipped with 10 Full Flight Simulators (FFS), flight training classrooms and briefing and debriefing rooms as part of the complete Airbus Flight Training Device setup.
The training centre is due to be operational starting early 2025 with the initial installation of four A320 FFS. The Tata Airbus Training Centre will offer courses approved by Directorate General of Civil Aviation (DGCA) and European Union Aviation Safety Agency (EASA).
Airbus has also partnered with GMR Aero Technic to offer Aircraft Maintenance Engineering training courses at the latter’s facility in Hyderabad. Airbus will provide training material such as trainee handbooks, examination database, online access to Airbus customised training modules and Airbus Competence Training (ACT) for Academy media package. Airbus will also train GMR instructors and provide continual assessment of the training center.
Forward-Looking Statements
This press release may 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.
Los Angeles, California, November 1, 2023, Business Wire – Air Lease Corporation (NYSE: AL) announced long-term lease placements for two new Boeing 737-8 aircraft with LOT Polish Airlines. Both aircraft are scheduled to deliver to LOT in mid-2024, and will add to the 11 Boeing 737-8s and one 787-9 Dreamliner aircraft already on lease from ALC.
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.
WILMINGTON, Ohio (BUSINESS WIRE) – Air Transport Services Group, Inc. (NASDAQ: ATSG) today announced the pricing of its offering of $350,000,000 aggregate principal amount of 3.875% convertible senior notes due 2029 (the “notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The issuance and sale of the notes are scheduled to settle on August 14, 2023, subject to customary closing conditions. ATSG also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $50,000,000 principal amount of notes.
The notes will be senior, unsecured obligations of ATSG and will accrue interest at a rate of 3.875% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2024. The notes will mature on August 15, 2029, unless earlier repurchased, redeemed or converted. Before February 15, 2029, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after February 15, 2029, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. ATSG will settle conversions in cash and, if applicable, shares of its common stock. The initial conversion rate is 31.2864 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $31.96 per share of common stock. The initial conversion price represents a premium of approximately 42.5% over the last reported sale price of $22.43 per share of ATSG’s common stock on August 9, 2023. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.
The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at ATSG’s option at any time, and from time to time, on or after August 15, 2026 and on or before the 50th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of ATSG’s common stock exceeds 130% of the conversion price for a specified period of time. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.
August 9, 2023 – Alstom (OTC: ALSMY)and the Connecticut Department of Transportation (CTDOT) confirmed an order for 60 single-level rail coach cars valued at approximately€285 million (approximately USD $315 million) with options to build an additional 313 cars, as part of CTDOT’s coach renewal program for its statewide rail system. Delivery is scheduled to begin in 2026.
The agreement calls for the delivery of fully customised, sustainable, next-generation commuter rail cars specifically designed for North America, providing riders with safe, comfortable, 125 mph commuter rail service. The new vehicles will all be compliant with the Americans with Disabilities Act (ADA), Federal Railroad Administration (FRA) and American Public Transportation Association (APTA) requirements.
The vehicles will have a convenient two-by-two seating configuration with foldable tables and easy access for wheelchair passengers. The new cars will also provide an enhanced passenger experience with convenient overhead luggage racks, workstation tables and a bicycle storage area, safe and reliable wi-fi access, real time information on upcoming stops, conveniently located power and USB access, and the most current cybersecurity safety features. In addition, passengers will enjoy panoramic balcony-style windows at wheeled mobility spaces, allowing for the flow of natural sunlight through the car’s interior, giving riders great views.
WASHINGTON, District of Columbia – Amtrak published survey findings today that demonstrate strong support from American voters for continued passenger rail investments, including infrastructure renewal and service expansion. Conducted by the Mellman Group and commissioned by Amtrak to better understand America’s interest in intercity passenger rail service, findings show consistent support for passenger rail across geographic location, age, race and gender.
Survey highlights include:
92% say it’s important for the United States to invest in passenger rail safety and service improvements;
86% believe in the importance of a strong American passenger rail system;
83% support passenger rail investments identified by Congress in the Infrastructure Investment & Jobs Act (i.e. modern trains, aging tunnel and bridge replacements, new routes, etc.); and
81% want their state to invest in bringing more passenger rail service to their local area.
The 2023 survey was conducted by the Mellman Group and surveyed 1,000 registered U.S. voters. View the executive summary here.
DENVER – 02 August, 2023 – Voyager Space, a global leader in space exploration, and Airbus (OTC: EADSY) Defence and Space, the largest aeronautics and space company in Europe, today announced an agreement paving the way for a transatlantic joint venture to develop, build, and operate Starlab, a commercial space station planned to succeed the International Space Station. The US-led joint venture will bring together world-class leaders in the space domain, while further uniting American and European interests in space exploration.
Voyager was awarded a $160 million Space Act Agreement (SAA) from the National Aeronautics and Space Administration (NASA) in December 2021 via Nanoracks, part of Voyager’s exploration segment. Part of NASA’s Commercial Low Earth Orbit Development Program, this SAA sets the foundation to create Starlab, a continuously crewed, free-flying space station to serve NASA and a global customer base of space agencies and researchers.
The program’s mission is to maintain continued human presence and American leadership in low-Earth orbit (LEO). Today’s announcement builds on an agreement made public in January 2023, where Voyager selected Airbus to provide technical design support and expertise for Starlab.
In addition to the US entity, Starlab will have a European joint venture subsidiary to directly serve the European Space Agency (ESA) and its member state space agencies.
Virgin Atlantic has joined global airline leaders including Air France-KLM and Delta Air Lines, with Boston Consulting Group, in the formation of the Aviation Climate Taskforce (ACT) – a new non-profit organization founded to accelerate breakthroughs in emerging technologies to decarbonize aviation.
As the aviation sector focuses on decarbonisation, a portfolio of solutions will be required to reach net zero by 2050 and to scale up sustainable aviation fuels (SAF) to meet a 10% SAF target by 2030. ACT will stimulate innovation in the next generation of technologies, principally focussed on critical medium-term solutions, such as synthetic fuel and direct air capture. Over time, the portfolio will expand to include more near-term solutions, such as emerging bio-based Sustainable Aviation Fuel pathways, and long-term solutions, such as hydrogen technologies. ACT’s mission will be supported by two pillars: an Innovation Network and a Collaboration Forum to help accelerate innovation and expedite adoption.
Earlier this month, Virgin Atlantic announced ambitious carbon targets as part of a renewed mission to achieve net zero by 2050. The targets include increased fleet efficiency and committing to the use of 10% Sustainable Aviation Fuels (SAF) in 2030 and importantly, reinforce the airline’s commitment to embed sustainability through innovation, transparency and accountability to do more for the protection of the planet.
Reported net loss for the fourth quarter and full year 2020 under Generally Accepted Accounting Principles (GAAP) of $430 million, or $3.47 per diluted share, and $1.3 billion, or $10.59 per diluted share. These results compare to fourth quarter 2019 net income of $181 million, or $1.46 per diluted share, and full year 2019 net income of $769 million, or $6.19 per diluted share.
Reported adjusted net loss for the fourth quarter and full year 2020, excluding payroll support program wage offsets, special items, and mark-to-market fuel hedging adjustments, of $316 million, or $2.55 per diluted share, and $1.3 billion, or $10.17 per diluted share. These results compare to fourth quarter 2019 adjusted net income of $181 million, or $1.46 per diluted share, and full year 2019 adjusted net income of $798 million, or $6.42 per diluted share.
Reported adjusted net debt of $1.7 billion, flat from December 2019 despite a 59% decline in operating revenues for the year.
Reported a debt-to-capitalization ratio, including certain short-term borrowings, of 61%.
Held $3.3 billion in unrestricted cash and marketable securities as of Dec. 31, 2020.
Liquidity and Fleet Updates:
Accessed approximately $5 billion in new liquidity in 2020, including $1.2 billion raised in the capital markets and approximately $600 million in bank financing.
Reached an agreement with the U.S. Treasury in January 2021 to receive an extension of payroll support totaling $533 million, $266 million of which was received on Jan. 15, 2021.
Extended the period available to draw funds under the CARES Act loan program from March 26, 2021 to May 28, 2021.
Announced plans to expand the mainline fleet and restructure the existing aircraft purchase agreement with Boeing. In total, Air Group will take delivery of 68 737-9 MAX aircraft between 2021 and 2024, inclusive of 32 previous purchase commitments and 13 aircraft to be leased from Air Lease Corporation.
Took delivery of Alaska’s first 737-9 MAX aircraft on January 24, 2021, which is expected to enter revenue service on March 1, 2021.
Permanently removed an additional 20 Airbus A320 aircraft from the fleet in the fourth quarter, resulting in 40 Airbus aircraft removed in 2020. A total of 31 Airbus aircraft remain in the operating fleet as of the end of the year.
Held $3.4 billion in cash and marketable securities as of Jan. 22, 2021, and total liquidity of $5.2 billion.
Operational and Guest Safety Updates
Announced seven new routes in the fourth quarter, including three “fun and sun” destinations connecting Anchorage to Las Vegas, Denver and San Francisco, and expanded service from Southern California to Austin and New York.
Eliminated change fees and extended the flexible travel policy for tickets purchased through March 31, 2021.
Implemented Next-Level Care initiative, which includes more than 100 measures designed to create a safe experience for guests and employees. These efforts were highlighted in the Alaska Safety Dance video.
Named the safest U.S. airline by AirlineRatings.com in their annual Top 20 Safest Airline report.
Launched the West Coast International Alliance with American Airlines on Jan. 1, 2021, which will unlock new benefits for Alaska Mileage Plan members in the spring.
Partnered with healthcare providers to offer rapid and standardized COVID-19 testing for those guests traveling to destinations that require a negative result.
Received diamond level certification from the Airline Passenger Experience Association for the health and safety standards Alaska and Horizon Air implemented to keep guests safe throughout their journey.
Launched pre-clearance program for guests traveling to the Hawaiian Islands from the West Coast with an approved negative COVID-19 test.
Announced a partnership with Microsoft to use sustainable aviation fuel to offset the environmental impact of certain business air travel.
Announced oneworld benefits for elite Mileage Plan members, providing tier status in the global alliance to Alaska’s elite members, as the company works toward joining oneworld on March 31, 2021.
Alaska Air Group Inc. (NYSE: ALK) today reported a fourth quarter 2020 GAAP net loss of $430 million, or $3.47 per diluted share, compared to net income of $181 million, or $1.46 per diluted share in 2019. Excluding the impact of payroll support program wage offsets, special items and mark-to-market fuel hedge adjustments, the company reported a fourth quarter adjusted net loss of $316 million, or $2.55 per diluted share, compared to adjusted net income of $181 million, or $1.46 per diluted share in the fourth quarter of 2019.
The company reported a full-year 2020 GAAP net loss of $1.3 billion, compared to net income of $769 million in the prior year. Excluding the impact of payroll support program wage offsets, special items and mark-to-market fuel hedge adjustments, the company reported an adjusted net loss of $1.3 billion, or $10.17 per diluted share for 2020, compared to adjusted net income of $798 million, or $6.42 per diluted share in 2019.
CHICAGO, Jan. 20, 2021 /PRNewswire/ — United Airlines (NASDAQ: UAL) today announced fourth-quarter and full-year 2020 financial results. The company continues its efforts to lead the industry as it manages the most disruptive crisis in aviation history.
Since the beginning of the COVID-19 crisis, United has raised over $26 billion in liquidity and made important progress in reducing core cash burn (see detailed chart below) to ensure the company’s survival. Over the last three quarters, the company has identified $1.4 billion of annual cost savings and has a path to achieve at least $2.0 billion in structural reductions moving forward. United ended 2020 with $19.7 billion in available liquidity1, including an undrawn revolver capacity and funds available under the CARES Act loan program from the U.S. Treasury.
Having stabilized its financial foundation, the company expects 2021 to be a transition year that’s focused on preparing for a recovery. United has resumed heavy maintenance and engine overhauls, investments that are essential to recovery when demand returns. The combination of structural cost reduction and timely investments will help set up United to exceed its 2019 adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) margin in 2023. The company expressed high confidence that it would achieve this target by 2023 – and said its ongoing recovery planning would help ensure the company was equipped to reach this level even sooner, if demand returns more quickly.
“Aggressively managing the challenges of 2020 depended on our innovation and fast-paced decision making. But, the truth is that COVID-19 has changed United Airlines forever,” said United Airlines CEO Scott Kirby. “The passion, teamwork and perseverance that the United team showed in 2020 is exactly what will help us build a new United Airlines that’s better, stronger and more profitable than ever. I could not be prouder of – and more grateful to – this team, which is going to lead us there.”
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On behalf of EVA Air, we offer our sincere apology to frontline epidemic prevention teams, health-care workers and the general public for the impact on public epidemic prevention efforts our dismissed pilot’s regulation violations have caused.
We treat all our employees equally and apply the same standard to each and everyone who works at EVA, no matter what rank or title. If anyone is found to have violated epidemic prevention rules, we will immediately investigate and take disciplinary action if it’s warranted.
On December 23, 2020, after a thorough evaluation of facts and evidence, EVA’s Disciplinary Committee dismissed a Captain for violating epidemic prevention rules and filing an untruthful report. He disregarded Taiwan Civil Aeronautics Administration and Ministry of Transportation and Communications (MOTC) Operational Principles, requiring Air Crew Members of Taiwan-based airlines to comply with health controls in addition to Article 43, Paragraph 2 of the Communicable Disease Control Act, stating “relevant personnel shall not refuse, evade or obstruct the laboratory testing, diagnosis, investigation…, jeopardizing the good name and reputation of the company.”
The dismissed pilot’s irresponsible disregard for the well-being of First Officers in the cockpit with him, ground crew and others he came in contact with also meets criteria for disciplinary termination under Article 12, Paragraph 1, Subparagraph 4 of Taiwan’s Labor Standards Law. Following Articles 13.3.6 and 14.3 of its Pilot Administration Manual, EVA’s Disciplinary Committee made a unanimous decision to terminate the pilot, effective immediately.
The dismissed pilot failed to mention his own noncompliance or epidemic prevention rule violations by any other crew member in reports he submitted for the cargo flights he commanded. On the evening of December 17, a female First Officer who had flown with the dismissed pilot notified EVA that she had been diagnosed with COVID-19 and mentioned that the dismissed pilot had not worn a mask when they were on duty in the cabin. Following Central Epidemic Command Center guidelines, we began investigating the dismissed pilot on December 18. Another First Officer who had flown with the dismissed pilot tested positive for COVID-19 on December 19. EVA contacted both First Officers to ensure their wellbeing and verify details of the situation. The First Officers confirmed that the dismissed pilot had not worn masks when he was on duty in the cockpit with them though he was asked to do so. The EVA Disciplinary Committee considered this information within the evidence they reviewed.
The dismissed pilot is from New Zealand, the female First Officer is Taiwanese and the other First Officer, Japanese.
We also immediately began improving our epidemic prevention practices and management procedures. For example, we established more rigorous rules for crew members when they collect food during overseas layovers in hotels. We now require everyone to wear masks, goggles and gloves when they receive food. During flights, only one pilot at a time can remove his or her mask to eat or drink. We equipped our dormitories with new door locks that record all entries and exits. We also created a new reporting mechanism to make it easy for employees to report violations they may witness, regardless of the offender’s position in the company. EVA will investigate all reports of violations and take disciplinary action whenever it is warranted.
EVA strictly complies with all government epidemic prevention policies and requires all crew members and staff to follow applicable rules. Unfortunately, one irresponsible employee’s thoughtless behavior spoiled the hard-earned success that other EVA pilots, crew members and staff have worked so hard to achieve. While EVA does not ever cut corners in practices or procedures, this situation exposed vulnerabilities in our epidemic prevention efforts. We met with Taiwan’s Central Epidemic Command Center and Civil Aeronautics Administration to discuss additional measures we can take to make our operations more secure. And we will use what we learned from this situation as we continue to do our best to strengthen and improve our epidemic prevention practices and management procedures.
