Embraer has agreed the sale of nine new E175 jets to Alaska Air Group and its subsidiary Horizon Air. The E175 aircraft will fly exclusively with Alaska Airlines under a Capacity Purchase Agreement (CPA). The value of the contract, which will be included in Embraer’s second-quarter backlog, is USD 449.1 million, based on current list prices.
Alaska Airlines, a new member of the Oneworld Alliance, currently has 62 Embraer E175 jets in their fleet, operated by Horizon Air and SkyWest Airlines. The 76-seat aircraft will be delivered in Alaska’s livery and three-class configuration, starting in 2022.
Alaska Air Group also announced today a commitment for eight more E175 aircraft with SkyWest Airlines. Once all 17 E175 aircraft announced today are delivered, Alaska Air Group will have 79 E175s in its regional fleet operated by Horizon and SkyWest.
Horizon is converting nine options from its April 2016 contract to firm orders. Added to Horizon’s three remaining firm orders on backlog, they will have a fleet of 42 E175’s flying for Alaska Airlines, when all aircraft are delivered.
The E175 has been a lifeline for carriers as they are perfectly suited to rebuild frequencies and add incremental capacity to meet rebounding domestic demand. During 2020 it was the first aircraft type to bounce back, achieving 100% of Alaska’s 2019’s schedule by Nov. 2020. Last October, the E175 started replacing larger aircraft on several intra-Alaska routes. Alaska Airlines has also been building its presence in California with the addition of new seasonal routes between cities in the Golden State and Montana with the E175.
Southwest Airlines Company (NYSE: LUV) today shared its intention to bring service to Santa Barbara Airport and Fresno Yosemite International Airport in the second quarter of 2021.
“Our arrival in the Heart of California, both on the Central Coast and in the Central Valley, will round out nearly four decades of investment in our California Customers and communities,” Southwest Airlines Chief Commercial Officer & Executive Vice President Andrew Watterson said. “While other airlines seem to fall in and out of love with the state, we’re focused on increasing the reach of our low fares and flexible policies in places where we expect them to make a difference.”
“For years residents and businesses throughout Central California have expressed a desire for Southwest service and connectivity to their vast network of destinations and renowned customer service,” said Kevin Meikle, Director of Aviation for Fresno Yosemite International Airport. “Southwest will expand the Central Valley’s air transportation gateway to Yosemite, Sequoia and Kings Canyon National Parks, and we look forward to our new partnership with Southwest and their arrival in the spring.”
“We salute Southwest’s bold decision to enter one of the most vibrant and beautiful regions in California, bringing visitors to our sweeping coastline to experience our mild Mediterranean climate and distinctive Spanish-influenced architecture,” said Mayor Cathy Murillo of Santa Barbara. “For our residents, our partnership with Southwest will energize the economic rebound to come in 2021.”
Along with Palm Springs, which received its first Southwest flight on Nov. 19, 2020, the addition of Fresno and Santa Barbara will position Southwest Airlines as an option in 13 California airports before summer 2021, further deepening the carrier’s commitment to the Golden State. Southwest long has carried more air travelers to, from, and within California than any other carrier, a legacy sustained in the most recent reporting of U.S. Department of Transportation data on airline passengers traveling nonstop.
FILE PHOTO: A Malaysia Airlines plane is seen at Kingsford Smith International Airport in Sydney
KUALA LUMPUR (Reuters) – Privately held Golden Skies Ventures (GSV) has made a $2.5 billion offer to fully take over the holding company of ailing state carrier Malaysia Airlines, with financing from a European bank, its executives told Reuters on Monday.
GSV, which was set up by former Malaysia Airlines officials and professionals with aviation experience, made the proposal a month ago, as airlines around the world were hammered by travel restrictions following the coronavirus pandemic.
“We have secured in excess of $2.5 billion from the bank. We will take about three to four months to get the long-term financing,” Chief Executive Shahril Lamin told Reuters in a phone interview.
GSV said it also has a commitment from a Japanese private equity firm to inject immediate funds into the aviation group through an equity deal.
It declined to name the firms involved, adding it was in talks with other foreign banks and private equity firms for further funding.
GSV has submitted its proposal to Morgan Stanley which has been hired by the aviation group’s sole owner, sovereign wealth fund Khazanah Nasional Bhd.
Sources have previously said Japan Airlines Co Ltd, domestic carriers AirAsia Group Bhd and Malindo Air have shown interest in Malaysia Airlines.
GSV said it would assume most of the airline’s debt that is being held by the government in outstanding Islamic bonds.
Khazanah and Morgan Stanley did not immediately respond to emailed requests for comment.
GOLDEN SHARE
The proposal includes keeping the government’s so-called golden share which allows it majority voting rights and maintains Malaysia Airlines’ flag carrier status.
GSV expects it will have ample liquidity to help the airline operate comfortably for up to 18 months.
It intends to reinstate Malaysia Airlines as a premium long-haul airline by expanding its flight network and maximising utilisation of its 81-plane fleet. It also plans to keep other business units such as the budget airline, cargo freighter and maintenance repair and overhaul unit.
“It’s still a viable venture, it has inherent strengths. We are saying we won’t lay off the 13,000 frontline employees and we are not going to asset-strip the airline,” Deputy Chief Executive Ravindran Devagunam said.
The firm aims to achieve positive earnings before interest, taxes, depreciation and amortisation within three years of taking over, and targets 15 billion ringgit ($3.5 billion) in revenue in 2025.
Plans for a listing or possible listing of its units are on the cards in three to five years, they said.
Ravindran said the firm is banking on pent-up travel demand when the coronavirus is contained. “Regardless of how long (the virus) will take this year, we are looking at an uptick in the business from summer 2021.”
($1 = 4.3450 ringgit)
(Reporting by Liz Lee; Editing by David Holmes and Edwina Gibbs)
LOS ANGELES, October 24, 2019 – Today Air Lease Corporation (“ALC”) (NYSE: AL) announced long-term lease agreements with China Airlines (Taiwan) for six new Airbus A321neo aircraft. The aircraft will deliver to the airline beginning in 2021 through 2022 from ALC’s order book with Airbus.
“We are honored to have been chosen by China Airlines to provide their first six new A321neos in their single-aisle fleet transformation,” said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation. “The A321neo will provide significantly expanded capabilities which will benefit China Airlines and its passengers far into the future.”
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 (NYSE: 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. ALC routinely posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.
About China Airlines
Founded in 1959, China Airlines employs more than 12,000 people worldwide and operates a fleet of 111 aircraft, making it the largest airline by size and frequency of service in Taiwan. China Airlines is also one of the 19 SkyTeam Alliance member airlines. China Airlines offers passengers access to an extensive global network of more than 14,500 daily flights to 1,150 destinations in 175 countries. China Airlines is continuing to promote superior aviation safety as well as eco-friendly, innovative and attentive services that provide travelers with the perfect travel experience. Recent major international and domestic awards received by China Airlines include: 7/7 Safety Rating from AirlineRatings in Australia, the Taiwanese civil aviation industry’s top “Golden Flyer Award,” “Best of the Best” Red Dot Award, iF Design Award, Good Design Award from Japan, “Best Airline of the Year,” “Best Airline in North Asia,” “Best Business Class Seat Design” and “Best Premium Economy” from the U.S.-based Global Traveler, “Top 10 Premium Business Class” and “Top 10 Economy Class” from the DesignAir, PAX International reader survey’s winner in the “Outstanding Food Service by a Carrier – Asia” category, and the APEX Award for Publication Excellence for the inflight magazine “Dynasty.”
Newly opened hotel in the heart of Yantian District of Shenzhen brings Hyatt Regency brand’s signature hospitality and connecting guests to the booming city
Hyatt Hotels Corporation (NYSE:H) today announced the opening of Hyatt Regency Shenzhen Yantian in the east Guangdong Province, China. The 298-room hotel aims to bring the Hyatt Regency brand’s signature intuitive service and energizing experiences to business and leisure guests alike.
As part of a newly concepted Recreational Business District, Hyatt Regency Shenzhen Yantian is located in the heart of Yantian District, neighboring Dameisha Beach and Overseas Chinese Town East along a 12 mile (19.5 kilometer) golden coast. Within an hour’s drive to Shenzhen Bao’an International Airport, the hotel is also half an hour to Shenzhen Railway Station and only a five minute drive to the Shatoujiao port of entry to Hong Kong.
“We sincerely appreciate the support from our owner Shenzhen Vanke Binhai Real Estate Ltd. and are excited to see the Hyatt Regency brand footprint grow in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA),” said Stephen Ho, president, Greater China, global operations at Hyatt. “We look forward to welcoming our guests to Hyatt Regency Shenzhen Yantian with confidence for a world-class hospitality experience.”
Guestrooms
Hyatt Regency Shenzhen Yantian was designed by the renowned HEITZ PARSONS SADEK and features 298 contemporary guest rooms with varied dimensions ranging from 462 square feet to more than 2,300 square feet (43 square meters to 215 square meters). There are 20 suites, four Regency Executive Suites and one Presidential Suite, all of which are spacious and located on the 41st to the 50th floor. Select rooms offer gorgeous ocean views and all rooms feature high-quality amenities and panoramic French windows. Guests staying in Club Access Rooms and Suites can enjoy the exclusive Regency Club benefits on the 49th floor.
Dining and Drinking
The hotel offers several fine dining restaurants that cater to varying tastes and group sizes, including:
XIANGYUE, a Chinese Restaurant on the 6th floor providing authentic Cantonese flavors as well as cuisines of neighboring areas. A comfortable experience that feels like dining in a country village, the restaurant’s layout includes a “Dai Pai Don” style open kitchen offering guests a high-touch taste of Cantonese life.
Market Café is a stylish all-day dining restaurant where guests can enjoy a collection of global delicacies. Whether buffet breakfast and dinner, or all-day a la carte service, Market Café will satisfy any taste with a flavorful option. The Lounge is the ideal place to gather friends or family and enjoy themed afternoon tea and various hand-crafted cocktails. Guests can also visit the Sky Lobby, ideal for connecting with colleagues over a vibrant scenery. For a stress-free meal, the hotel offers 24-hour in-room dining services with a range of selections available anytime.
Meetings and Events
To build a dynamic experience for groups that feels connected, motivated and inspired, the hotel events team will be at hand to support customers during conferences, special events and weddings. The hotel offers nearly 25,000 square feet (2,321 square meters) of meeting and event space in total, including a 12,916 square foot (1,200-square meter) pillar-free grand ballroom and five salons equipped with high-tech audio and video systems. Additionally, the ballroom foyer provides more than 6,500 square feet (612 square meters) of flexible pre-functional space to perfectly showcase the creativity of any event.
The scenic surroundings at Hyatt Regency Shenzhen Yantian create the perfect backdrop for weddings of all sizes. A bridal suite with separate fitting room and living room is situated right beside the grand ballroom to deliver a brilliant wedding experience.
Wellbeing
Guests can relax in the hotel’s refreshing outdoor pool or work out anytime at the hotel’s fully equipped fitness center featuring state-of-the-art equipment.
“Inspired by the hotel’s surroundings, the hotel was built with the concept of bringing the forest into the city, offering guests a place to take a deep breath of fresh air and bask in the beautiful scenery,” said Mary Liu, general manager of Hyatt Regency Shenzhen Yantian. “As a bridge between GBA and the Pearl River Delta area, Shenzhen is at the core of this booming region. We are delighted to deliver Hyatt’s well-known expertise in food and beverage and full range of services and amenities for a productive stay.
OSLO (JULY 11, 2019) – After 17 years as the CEO of Norwegian Air Shuttle, Bjørn Kjos will leave the position and continue in a new role as an advisor to the Chairman, with effect from July 11th. Until Norwegian appoints a new CEO, CFO Geir Karlsen will act as interim CEO, while Chairman Niels Smedegaard will take on a more active role in the management.
“I am very pleased Bjørn will remain at the company as an advisor to the Board and the Chair. As Norwegian moves from growth to profitability, it will be an advantage for the company to benefit from Bjørn’s extensive network, in-depth knowledge of and experience with global aviation. We have already started the process of recruiting a permanent new CEO,” said Niels Smedegaard, Chairman of the Board of Directors at Norwegian.
“I am confident that the Board of Directors will find the best qualified successor to lead the next chapters of the Norwegian story together with the top management team. Leaving the exciting future tasks to a new CEO and taking on a new challenge as an advisor, is a set-up I am very happy with. I look forward to spending more time working on specific strategic projects that are crucial to the future success of Norwegian,” said Bjørn Kjos.
Bjørn Kjos is one of the founders of Norwegian Air Shuttle. During his tenure as CEO, the company has developed from a small domestic operation with 130 employees and four aircraft to a global and award-winning low-cost airline with more than 11,000 employees and 162 aircraft.
“Bjørn has played an unprecedented role in Norwegian’s success. His vision of offering affordable fares for all, combined with his enthusiasm and innovating spirit, has revolutionized the way people travel for pleasure and for business, not least between the continents. Bjørn is definitely one of the most influential European entrepreneurs of our time,” Smedegaard said.
Following a demanding period of financial and operational challenges, fueled by significant investments, Norwegian changed its strategy from growth to profitability in 2018. Going forward, the company will harvest from its rapid global growth and investments. Running a profitable business and boosting company value to the benefit of shareholders, customers and employees will be key for the CEO going forward.
“We have to ensure that Norwegian is well prepared and positioned to handle volatile markets and unexpected events. It is crucial that we continue to deliver on our cost reduction initiatives and that we constantly ensure that we have a route portfolio that yields profit. It is also important that the new CEO develops an organization that embraces continued improvement and operational excellence,” Smedegaard added.
Niels Smedegaard Niels Smedegaard (born 1962) was the President and CEO of DFDS from 2007 to 2019. He has previously held leading positions in companies such as Gate Gourmet Group, Swissair and SAS. Smedegaard is a Danish citizen and holds a Master’s and Bachelor’s degree from Copenhagen Business School. He also holds a number of board appointments at various European companies. Niels Smedegaard has been elected Chairman of the Board of Norwegian for the period 2019 to 2021.
Bjørn Kjos Bjørn Kjos (born 1946) has been the Chief Executive Officer (CEO) of Norwegian since October 2002. He is one of the founding partners of Norwegian Air Shuttle and was the Chairman of the Board from 1993 to 1996. Kjos was also Chairman during the start-up of the Boeing 737 operation from June to September 2002. Kjos was a fighter pilot in the 334 squadron for six years and is a law graduate from the University of Oslo. He was granted the right of audience in the Supreme Court in 1993.
Geir Karlsen Geir Karlsen (born 1965) was appointed Chief Financial Officer (CFO) in April 2018 and deputy CEO in April 2019. He has extensive experience from listed companies within shipping and offshore. Geir Karlsen has over the last 12 years held various CFO positions with international companies such as Golden Ocean Group and Songa Offshore. Before joining Norwegian, he was Group CFO at London-based Navig8 Group, the world’s largest independent pool and management company. Karlsen has a degree in Business Administration from BI Norwegian Business School.
Immediately following the presentation of the results for the second quarter, Norwegian will arrange a press briefing with Niels Smedegaard, Bjørn Kjos and Geir Karlsen about the top management changes. The presentation of the results and the press conference will take place at Felix Conference Center, Bryggetorget 3. The Q2 results presentation starts at 08:30, Central European Time.
