Tag: affiliate

LATAM group presents special collection of aircraft in South American colors

January 14, 2024 / WIL BALDWIN

Santiago, Chile, January 12, 2024 – With the aim of celebrating the local pride of the leading airline group in Latin America, LATAM group unveiled its latest project, which involves adorning five aircraft with the respective national flag colors of the countries where the affiliates operate domestic flights.

The idea, extending throughout 2024, is to gradually introduce the five painted aircraft into the domestic flights of the affiliates. It will begin on January 11 with LATAM Airlines Brasil, debuting an Airbus A320neo in green and yellow colors, followed by planes representing the colors of the affiliates in Colombia, Chile, Peru, and finally, Ecuador.

The special paint scheme, applied by 30 workers from the Brazilian affiliate, maintains the characteristics of the LATAM logo already present on its aircraft, with only the colors being modified. The design of the LATAM Airlines Brasil A320neo started this Monday at the São Carlos facility in Sao Paulo, the largest maintenance center of the LATAM group.

Currently, the airline group has 332 aircraft, including 56 Boeing passenger planes (models 767, 777, and 787) and 256 Airbus planes (models A319, A320, A320neo, A321, and A321neo).

Additionally, LATAM Cargo has 20 cargo planes.

Overland Airways of Nigeria receives its first E175

September 14, 2023 / WIL BALDWIN

Abuja, Nigeria, 14 September 2023 – Overland Airways of Nigeria has received the first of three new Embraer (NYSE: ERJ) E175 E-Jets. The aircraft was delivered to the airline last week. The twenty-year old West African carrier, an affiliate of the Landover Aviation Services Company, also holds options for three additional aircraft.

Concurrent with the arrival of its new E175s, Overland is aggressively ramping up its presence in Nigeria. It has built a new corporate office and hangar facilities in Lagos. The airline is an Approved Maintenance Organization under the certification of the Nigerian Civil Aviation Authority.

Overland’s partner, Landover Aviation Services, runs one of IATA’s top ten aviation training institutions in Africa. The Landover Aviation Business School specializes in airline technical and operations, aviation management, and travel and tourism.

Air France-KLM enters into discussions with Apollo Global Management for financing

July 30, 2023 / WIL BALDWIN

Air France-KLM (OTC: AFLYY) today announces that it has entered into exclusive discussions with Apollo Global Management (NYSE: APO) regarding the potential financing of E1.5bn to a dedicated operating affiliate of Air France-KLM. This entity will hold the trademark and most of the commercial partner contracts related to Air France and KLM’s joint loyalty program “Flying Blue”, and will become the exclusive issuer of miles for the airlines and partners.

This financing would be non-dilutive, structured through a quasi-equity instrument, similarly to those raised by Air France on a pool of spare engines in July 2022 and maintenance activity components in July 2023. Under this agreement, Apollo-managed funds would subscribe to perpetual bonds issued by this dedicated operating affiliate of Air France-KLM.

This financing would be accounted as equity under IFRS, allowing Air France-KLM to make a further step towards its commitment to restore its equity and strengthen its balance sheet, aside from net profit generation and/or straight hybrid bonds.

The contemplated structure related to this financing would incur no change on the operation of the program vis-à-vis the Flying Blue members, no change on social aspects nor Air France, KLM or Air France-KLM employee’s contracts.

Air France-KLM would pursue managing and operating its loyalty program and Air France and KLM would keep full ownership rights of the Flying Blue customer database.

Hyatt Announces Plans for New Hyatt Place and Hyatt House in Ho Chi Minh City

November 22, 2019 / WIL BALDWIN

CHICAGO–(BUSINESS WIRE)–

The first dual-branded Hyatt Place and Hyatt House project in Southeast Asia is expected to open in 2023

Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into a management agreement with Xuan Mai Sai Gon Construction Investment Joint Stock Company (“Xuan Mai”) to develop a 300-key Hyatt Place Saigon, District 7 and 250-key Hyatt House Saigon, District 7 in one of Ho Chi Minh City’s largest districts. Planned for completion in 2023, the new hotels will be Hyatt’s first dual-branded Hyatt Place and Hyatt House hotel project in Southeast Asia and will also mark the entry of the Hyatt House brand in Vietnam.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191121005818/en/

The Hyatt Place brand combines style, innovation and 24/7 conveniences to create an easy to navigate experience for today’s multi-tasking traveler. Guests can enjoy thoughtfully designed guestrooms featuring distinct zones for sleep, work and play, and free flowing social spaces. Hyatt House hotels are designed to welcome guests as extended stay residents seeking the conveniences of home in modern, apartment-style suites with fully equipped kitchens and separate living and sleeping areas.

“We are delighted to be working with Xuan Mai to develop Hyatt’s first dual-branded select-service hotel project featuring the Hyatt Place and Hyatt House brands in Southeast Asia,” said David Udell, group president, Asia-Pacific, Hyatt Hotels Corporation. “Whether guests are looking for short term or extended stay accommodations, the location of Hyatt Place Saigon, District 7 and Hyatt House Saigon, District 7 will put them in the heart of an up-and-coming residential, commercial and entertainment district that is well connected to Ho Chi Minh City’s Central Business District.”

The new Hyatt Place Saigon, District 7 and Hyatt House Saigon, District 7 will be integral to Eco Green Saigon, an iconic 34-acre mixed-use development, which will also include residential units, office space, event space, and a primary school. Eco Green is strategically located eight miles (13 kilometers) from the Tan Son Nhat International Airport, the busiest airport in Vietnam, three miles (five kilometers) from District 1, Ho Chi Minh City’s Central Business District, and less than two miles (three kilometres) from Phu My Hung New Urban Area comprising of office developments, high end residences and schools, as well as the Saigon Exhibition and Convention Centre.

Hyatt Place Saigon, District 7 will consist of 300 rooms, a café, a bar serving coffee and cocktails, a lobby lounge, and three meeting rooms, as well as an outdoor pool and fitness center. Hyatt House Saigon, District 7 will predominantly cater to guests looking for longer term accommodations, and will consist of 250 rooms divided into studios and one-bedroom suites, a bar, a lobby lounge, one meeting room, as well as an outdoor pool and fitness center. Once completed, the 69-story tower housing both hotels will be one of the tallest buildings in Ho Chi Minh City.

“With this signing, Hyatt is set to more than triple its brand presence in Vietnam over the next few years, and we are delighted to now offer locals and travelers additional accommodation options across the country, as well as have an opportunity to further solidify Hyatt’s brand presence in Ho Chi Minh City,” said Patrick Finn, Senior Vice President – Development, Asia-Pacific, Hyatt. “This project also presents Hyatt with an ideal opportunity to launch the Hyatt House brand in Vietnam’s gateway city that has the potential to be a catalyst for further Hyatt Place and Hyatt House developments in the country.”

“Hyatt Place Saigon, District 7 and Hyatt House Saigon, District 7 is expected to be the center piece of the Eco Green Saigon development in the heart of Ho Chi Minh City’s largest district,” said Mr. Bùi Khắc Sơn, a member of the board of Xuan Mai Sài Gòn. “This is our first hotel project and we are excited to introduce guests to the first dual-branded Hyatt Place and Hyatt House project in Southeast Asia, and furthermore, collaborate with Hyatt, a globally recognized company with extensive hospitality knowledge.”

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Air Lease Corporation Initiates Portfolio Sale of 19 Aircraft to Thunderbolt III Aircraft Lease Limited

November 13, 2019 / WIL BALDWIN

LOS ANGELES, November 11, 2019 – Air Lease Corporation (the “Company” or “ALC”) announced today that the Company initiated the sale of a portfolio of 19 aircraft to Thunderbolt III Aircraft Lease Limited (“Thunderbolt III”), a newly formed entity, and Thunderbolt III has now completed its equity and debt financing transactions. The aircraft comprise a mix of narrowbody and widebody jet aircraft that, as of August 31, 2019, had a weighted average age of 9.7 years and were leased to 18 lessees based in 15 countries. ALC and its Irish affiliate, ALC Aircraft Limited, will act as servicers with respect to the aircraft and ALC will act as portfolio manager. ALC estimates that the process of transfer and sale of the majority of aircraft will occur progressively during Q4 2019 and Q1 2020.

The Thunderbolt III structure included two series of Fixed Rate Notes and Equity Certificates. Approximately 15.6865% of the Equity Certificates were purchased by the anchor investor which is an investment vehicle managed by ITE Management L.P. and approximately 5% of the Equity Certificates were purchased by ALC.

Proceeds from the issuance of the Notes and the Equity Certificates will be used to acquire the aircraft, fund certain accounts for the Notes and pay certain expenses.

“We are pleased to announce the closing of Thunderbolt III. This transaction allows ALC to efficiently sell 19 aircraft while retaining the customer relationships through our continued management of these aircraft. I would like to thank our team and the Thunderbolt III investors for making this a successful transaction,” said Gregory B. Willis, Executive Vice President and Chief Financial Officer of ALC.

Mizuho Securities acted as Global Coordinator, Mizuho Securities, BofA Securities and Goldman Sachs & Co. LLC acted as Joint Lead Structuring Agents and Joint Lead Bookrunners, Wells Fargo Securities acted as Joint Lead Bookrunner, and BNP PARIBAS, Citigroup, J.P. Morgan, MUFG, RBC Capital Markets, SOCIETE GENERALE and SunTrust Robinson Humphrey acted as Passive Bookrunners (for the Notes) and Co-Managers (for the Equity Certificates).

Hughes Hubbard & Reed LLP acted as U.S. counsel to ALC and the Issuers, and Milbank LLP acted as U.S. counsel to the Global Coordinator, the Joint Lead Structuring Agents and the Joint Lead Bookrunners. EY acted as U.S. and Irish tax advisors. Walkers acted as Cayman Islands counsel and A&L Goodbody acted as Irish counsel. Vedder Price P.C. acted as counsel for ITE.

Canyon Financial Services Limited will act as the managing agent for the Issuers. Citibank, N.A. will act as trustee, security trustee, paying agent and operating bank. Wells Fargo Bank, N.A. will also act as the liquidity facility provider. DealVector, Inc. will provide certain investor services for the holders of the Notes and Equity Certificates.

AirAsia Received its First Airbus A330neo

August 12, 2019 / WIL BALDWIN

AirAsia has taken delivery of its first A330neo aircraft, to be operated by its long-haul affiliate AirAsia X Thailand. The aircraft was delivered via lessor Avolon and is the first of two A330neos set to join the airline’s fleet by the end of the year.

With its enhanced economics, the A330neo will bring a step-change in fuel efficiency for AirAsia’s long-haul operations. The new-generation A330neo will be based at Bangkok’s Don Mueang International Airport in Thailand, supporting the airline’s growth and network expansion plans to key markets such as Australia, Japan and South Korea.

The AirAsia X Thailand A330-900 features 377 seats in a two-class configuration, comprising 12 Premium Flatbeds and 365 economy class seats.

AirAsia’s long-haul affiliate, AirAsia X currently operates 36 A330-300 aircraft and is the largest customer for the A330neo with 66 on firm order.

The A330neo is the true new-generation aircraft building on the most popular wide-body A330’s features and leveraging on A350 XWB technology. Powered by the latest Rolls-Royce Trent 7000 engines, the A330neo provides an unprecedented level of efficiency – with 25% lower fuel burn per seat than previous generation competitors. Equipped with the Airbus Airspace cabin, the A330neo offers a unique passenger experience with more personal space and the latest generation in-flight entertainment system and connectivity.