Tag: niki

Bombardier Delivers Global 7500 to Racing Legend Niki Lauda

April 1, 2019 / WIL BALDWIN

Bombardier announced today that it delivered its first European-based Global 7500 aircraft to long-time Bombardier customer, Niki Lauda, as production and completions of the award-winning business jet continue to ramp up as planned. Bombardier is on track to deliver between 15 and 20 Global 7500 aircraft in 2019.

Long-time Bombardier customer and F1 World Champion takes delivery of the first European-based Global 7500 aircraft
Production and completions ramp up for Global 7500 jets proceeding as planned
The Global 7500 aircraft recently completed the world’s longest-range business jet flight in history and broke the city pair speed record between LA and NYC*
Winner of the 2019 Aviation Week Grand Laureate Award, the Global 7500 aircraft offers Bombardier’s signature smooth ride and a spaciousness that is unique among business jets

“We are thrilled to deliver our flagship Global 7500 business jet to Niki Lauda, our esteemed customer for many years,” said David Coleal, President, Bombardier Business Aircraft. “The Global 7500 aircraft is simply the best business jet on the market. It sets the standard by which all other aircraft in private aviation will be measured, demonstrated by the prestigious design and aviation awards it has garnered. The Global 7500 aircraft is the crown jewel of the industry.”

“I have enjoyed watching the evolution and growth of the Global Aircraft program. I have always been impressed with the expertise, craftsmanship and innovation that go into building every Global business jet,” said Niki Lauda. “The Global 7500 aircraft is the culmination of all the knowledge Bombardier teams have gained over the years and I look forward to experiencing the range, speed and comfort this jet has to offer.”

The Global 7500 jet is the latest in a series of Bombardier business aircraft that Mr. Lauda has owned and piloted during his career as an aviator. Previously, he operated a Global 6000, Global 5000 and Challenger 300 jet as his private aircraft.

Since its entry-into-service, the Global 7500 aircraft has unequivocally proven itself to be the highest-performing aircraft in the industry. The Global 7500 business jet has a top speed of Mach 0.925 and recently flew from Singapore to Tucson, completing a record-setting 8,152 nautical mile flight—the longest-range flight in business aviation history. In addition, it also recently broke the city pair speed record between Los Angeles and New York. The Global 7500 aircraft continues to assert its position as the leader in the business jet market.

The Global 7500 aircraft offers Bombardier’s signature smooth ride and a spaciousness that is unique among business jets. With its award-winning bespoke interior featuring a full-size kitchen and four true living spaces, the Global 7500 jet offers the ultimate in-flight experience. Setting the benchmark for the most exceptional cabin interior, the Global 7500 aircraft offers the most innovative features: Bombardier’s patented Nuage seat, meticulously designed for maximum comfort and the revolutionary nice Touch cabin management system (CMS), a new way to connect with the Global 7500 aircraft cabin through the Bombardier Touch dial, featuring business aviation’s first application of an OLED display.

About Bombardier

With over 68,000 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Ryanair Acquires Remainder of Austria’s Laudamotion

January 29, 2019 / WIL BALDWIN

VIENNA (Reuters) – Irish budget airline Ryanair has acquired the remaining quarter of its Austrian unit Laudamotion for an undisclosed price, it said on Tuesday.

Europe’s largest budget carrier previously owned a 75 percent stake in Laudamotion. Former Formula One racing champion Niki Lauda, who last year bought back and re-branded the airline he founded, gave Ryanair the option to buy the whole carrier.

“Laudamotion is now a 100 percent-owned subsidiary of Ryanair Holdings plc,” Laudamotion said in a statement. It detailed plans to grow rapidly in the coming years, to 7.5 million passengers and 30 aircraft in 2021 from 4 million passengers and 19 aircraft this year.

At a news conference at Vienna’s main airport, Ryanair Chief Executive Michael O’Leary declined to disclose the price his company paid for Laudamotion.

The deal for the last stake was completed on Dec. 31 but had nothing to do with Lauda’s brief return to hospital shortly afterwards, O’Leary said. Lauda will stay on as chairman of Laudamotion’s board.

“Niki has great experience in the airline industry, particularly in the airline industry in Germany and in Austria,” O’Leary said when asked about Lauda’s role. “He knows all the players. When we were buying it (Laudamotion) he had access to the various ministers in Austria, which we didn’t have.”

(Reporting by Francois Murphy; editing by Jason Neely and Emelia Sithole-Matarise)

Will IAG buy Norwegian

April 12, 2018 / WIL BALDWIN

Parked Boeing 737-800 aircrafts belonging to budget carrier Norwegian Air are pictured at Stockholm Arlanda Airport March 6, 2015. REUTERS/Johan Nilsson/TT News Agency

By Sarah Young

LONDON (Reuters) – British Airways-owner IAG (ICAG.L) said it is considering making an offer for Norwegian (NWC.OL), a low-cost carrier worth about $1.2 billion, in a deal which would expand its budget offerings and give it control of a struggling rival.

IAG said on Thursday it had bought a 4.61 percent stake in Norwegian as a platform for starting talks, and that could lead to it making a full offer for the airline founded by former fighter pilot Bjorn Kjos.

“IAG confirms that no such discussions have taken place to date, that it has taken no decision to make an offer at this time and that there is no certainty that any such decision will be made,” IAG said in its statement.

Shares in Norwegian, a stock which this year has been pounded over worries about its profitability, surged 37 percent on the news. https://reut.rs/2qqcSn6

A trailblazer of low-cost long-haul flying in Europe, Norwegian has been leading the charge to eat into the trans-Atlantic market where traditional full-service carriers like British Airways have historically made most of their profits.

Norwegian has already made its impact felt: British Airways and others have recently tried to compete more directly with Norwegian by introducing basic economy fares.

But Norwegian’s fast expansion has left it under pressure to control costs and shore up its balance sheet.

That has provided IAG, formed in 2011 through the merger of traditional flag-carriers British Airways and Iberia and led by CEO Willie Walsh, with an opportunity, say analysts.

Seasoned deal-maker Walsh was much quicker than rival full-service airlines Air France-KLM (AIRF.PA) and Lufthansa (LHAG.DE) to embrace budget flying, buying short-haul carrier Vueling in 2015 and setting up IAG’s own long-haul low-cost carrier Level last year.

“Willie Walsh has long been interested in the low-cost long haul concept, long before the creation of Level. This may be an attempt to accelerate its development, while also adding to the scale and reach of Vueling in the intra-European market,” Liberum analyst Gerald Khoo said.

Adding Norwegian’s short-haul operations in Europe to Vueling would create a budget carrier better placed to compete against the continent’s two biggest low-cost airlines Ryanair (RYA.I) and easyJet (EZJ.L).

Bernstein analysts said a full takeover could be expensive but suggested a partnership deal would benefit both parties.

“A partnership that looks to maximize the synergies of the two networks, minimise duplications of capacity and investment on key routes, and use IAG’s travel management capabilities to improve Norwegian’s expertise in this area could all provide some of the benefits of consolidation without the likely high cost of a deal,” they said.

NORWEGIAN UNDER PRESSURE

Highlighting the difficult state of Norwegian’s finances, the airline last month raised $168 million in a share sale after warning of a larger than expected first-quarter loss.

Norwegian said in its statement on Thursday that it had no prior knowledge of IAG’s actions, but welcomed the investment.

“Norwegian believes that IAG’s interest in the company confirms the sustainability and potential of our business model and global growth,” it said.

Norwegian’s shares, temporarily halted after the IAG news, rose as much as 39 percent to 250 crowns when they resumed trading, valuing the company at 9.5 billion Norwegian crowns ($1.22 billion).

Whether it proceeds with an offer for Norwegian or not, through its new investment, IAG will at least be well-placed to influence its rival.

“If there is no imminent bid for Norwegian, IAG is just the first vulture to have landed that would like a say in how Norwegian’s long-distance fleet … is dismantled and sold,” Norne analyst Karl Johan Molnes said.

There will be no buying Norwegian on the cheap, however, said SEB analyst Jo Erlend Korsvold.

Even after Thursday’s rally, Norwegian’s founder and top owner, CEO Kjos who controls a quarter of the company’s shares, is expected to demand a significantly higher price before selling, said Korsvold.

Kjos was not available for comment when contacted by Reuters.

IAG’s interest in Norwegian would see a wave of consolidation in European air travel which started last year extend its reach to long-haul travel.

Lufthansa and easyJet expressed interest in Italy’s struggling Alitalia [CAITLA.UL] this week.

Ryanair last month agreed to buy a majority stake in a new Austrian leisure airline founded by Formula One former champion Niki Lauda, while easyJet bought a parts of failed airline Air Berlin last year.

Shares in IAG initially dropped 3.4 percent on the news before recovering to trade down 0.7 percent at 611 pence. The company has a market capitalisation of about 12.6 billion pounds ($17.89 billion).

($1 = 7.7844 Norwegian crowns)

($1 = 0.7043 pounds)

(Reporting by Sarah Young, additional reporting by Terje Solsvik and Ole Petter Skonnord in OSLO and Victoria Bryan in BERLIN,; editing by Kate Holton and Adrian Croft)

Formula One Champ Niki Lauda Rescues His Old Airline

January 25, 2018 / WIL BALDWIN

The former Formula One champion Niki Lauda has rescues the airline named after him. Niki, formerly Aero Lloyd Austria, was acquired by Lauda and renamed in 2003 before being partnered with Air Berlin a year later. He later sold the airline to the larger Air Berlin in 2011, where it ferried Austrian and German sun-seekers to Mediterranean beaches.

Click the link below for the full story!

Niki lauda rescues his old airline

Ryanair, its pilots, and Niki

December 15, 2017 / WIL BALDWIN

Facing the imminent threat of a strike by its pilots, Ryanair has offered for the first time in its 32-year history to recognize the rights of its pilots to unionize. The action is a last ditch effort to avert a planned pilot strike scheduled to take place on December 20. Ryanair had previously refused to recognize unions as part of its ultra low-cost model, which has helped to turn the small Irish regional airline into one of Europe’s largest air carriers. “Recognizing unions will be a significant change for Ryanair, but we have delivered radical change before,” Chief executive Michael O’Leary said in a statement. “We hope and expect that these structures can and will be agreed with by our pilots early in the new year.”

Ryanair pilots in several countries were threatening strike actions in the days leading up to the Christmas Holidays. Strikes had already been scheduled to take place in Ireland, Italy, and Portugal. The Irish based company stated that it had sent a letter to unions in Britain, Germany, Ireland, Italy, Portugal, and Spain this morning. The letter stated that the airline was ready to hold talks to formally recognize the unions, and asked for confirmation that the planned industrial actions would be canceled. The pilots have been angered by Ryanair following the announcement of 20,000 flight cancellations that began in September, and are expected to extend into March of 2018. The airline blamed the cancellations on a lack of standby pilots due to a rostering error that followed rule changes by Irish regulators. Pilots have stated that Ryanair is facing a major staffing shortage, a claim that management has repeatedly denied.

In other news today, Ryanair has stated that it is looking into buying the assets of insolvent Austrian leisure airline Niki. Niki was formerly part of the now insolvent carrier Air Berlin, which is seeking a new buyer after Lufthansa decided to drop its bid for those assets two days ago. The airline wants to look into the possibility of using Niki’s take-off and landing slots at Berlin’s Tegel Airport to operate a 9 or 10 aircraft base at the airport. “At first look, Niki’s Tegel slot portfolio would be woefully inadequate to support a nine-aircraft base but we will review the utility of Niki’s slots as their availability becomes clearer,” Ryanair said in an email statement. The rest of the Air Berlin assets were divided amongst Lufthansa and European low-cost carrier EasyJet.