Wallula, Washington, October 10, 2023 – Tri-Cities Intermodal (TCI) has signed a lease/purchase agreement to acquire the former Cold Connect warehouse and property, with plans to develop an adjacent intermodal ramp in Wallula, WA. The plan represents a revival of the plans previously announced by Tiger Cool Express before they shut down operations in June. Tri-Cities Intermodal is an entirely new company – and the transaction had no connection to Tiger Cool.
Tri-Cities signed the lease/purchase agreement on Sept. 27, 2023, with Union Pacific Railroad Corporation (NYSE: UNP).
The envisioned Tri-Cities Intermodal Center will benefit the entire agricultural community in the three-state region by providing cost-effective and sustainable transportation capacity. Initially, service is intended to be offered between: Wallula and the Northwest Seaport Alliance on-dock facilities for dry imports and exports (in ISO equipment.) It will also support Union Pacific’s intermodal customers moving between Wallula and Chicago and beyond.
New York, NY, August 15, 2023 – (BUSINESS WIRE) – As previously announced, in connection with the Agreement and Plan of Merger, dated as of July 28, 2022 the “Merger Agreement”, by and among JetBlue Airways Corporation (NASDAQ: JBLU), Sundown Acquisition Corp., and Spirit Airlines, Inc. (NYSE: SAVE), JetBlue has set August 25, 2023, as the record date for the August 2023 prepayment to Spirit stockholders of $0.10 per Spirit share (the “August 2023 Additional Prepayment”), with payment of the August 2023 Additional Prepayment to occur on August 31, 2023. Pursuant to the Merger Agreement, Spirit stockholders as of the August 25, 2023, record date will be entitled to receive the August 2023 Additional Prepayment.
Seattle, Washington, January 5, 2022 /PRNewswire/ – Boeing [NYSE: BA] and Allegiant Air (NASDAQ: ALGT) today announced an order for 50 737 MAX jets, with options for 50 additional airplanes. In Boeing’s first U.S. ultra-low cost carrier (ULCC) deal, Allegiant selected two models – the 737-7 and 737-8-200 – in the 737 MAX family, which provide the lowest seat-mile costs for a single-aisle airplane and high-dispatch reliability.
With commonality and improved fuel efficiency, the 737 MAX family enables airlines to optimize their fleets across a broad range of missions. The 737-7 provides low-operating costs that enable carriers to open new routes with less economic risk, and the larger 737-8-200 offers added revenue potential and is right-sized for ULCC market expansion. Compared to Allegiant’s current fleet, the new 737 models will reduce fuel use and carbon emissions by 20%.
Boeing and Allegiant will partner on entry-into-service support, enabling a smooth transition as the carrier adds the 737 into its operation. Allegiant will also utilize a suite of Boeing Global Services digital tools to further enhance operational efficiency. Allegiant currently operates a fleet of 108 Airbus A319 and A320 airplanes.
As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future and living the company’s core values of safety, quality and integrity. Learn more at www.boeing.com.
Leonardo welcomed the announcement by the U.S. Department of Defense to award AgustaWestland Philadelphia Corp. a $159.4 million USD firm-fixed price modification to the previously awarded contract for the U.S. Navy’s Advanced Helicopter Training System. This modification exercises options for the production and delivery of 36 TH-73A helicopters Lot III and initial spares.
In January 2020 Leonardo, through AgustaWestland Philadelphia Corp., was awarded a firm-fixed-price contract valued at $176 million for the production and delivery of an initial 32 TH-73A helicopters, along with spares, support, dedicated equipment, and specific pilot and maintenance training services.
In November 2020, the second lot of aircraft were ordered through a $171 million contract modification, an additional 36. The lot III brings the total number of aircraft on order to 104. The total requirement is for 130 aircraft. The TH-73A will be used to train the next generation of student aviators from the U.S. Navy, Marine Corps and Coast Guard and is only made at Leonardo’s FAA-certified Part 21 Production Line in Philadelphia, PA.
CALGARY, Dec. 22, 2020 /PRNewswire/ – Canadian Pacific Railroad (NYSE: CP) announced today it has completed its previously announced agreement to purchase an 83.5 percent stake in the Detroit River Rail Tunnel from certain affiliates of OMERS, the defined benefit pension plan for municipal employees in the province of Ontario. CP previously owned a 16.5 percent stake of the tunnel in partnership with OMERS. The purchase price for the transaction is approximately US$312 million, subject to customary closing adjustments.
Mesa Air Group, Inc. (NASDAQ: MESA) today reported fourth quarter and full-year fiscal 2020 financial and operating results.
Mesa’s Q4 2020 results reflect net income of $11.4 million, or $0.32 per diluted share, compared to net income of $12.2 million, or $0.35 per diluted share for Q4 2019. Mesa Q4 2020 results include, per GAAP, the deferral of $7.8 million of revenue, all of which was billed and paid by American and United during the quarter and will be recognized over the remaining terms of the contracts. Mesa’s Adjusted EBITDA1 for Q4 2020 was $44.6 million, compared to $50.8 million in Q4 2019, and Adjusted EBITDAR1 was $54.2 million for Q4 2020, compared to $61.9 million in Q4 2019. For Q4 2020 revenue was $108.0 million, a reduction of $79.8 million (42%) from $187.8 for Q4 2019 primarily due to the reduced flying as a result of COVID-19. During the quarter Mesa recognized $40.8 million as an offset to wages and salaries related to the previously announced Payroll Support Program Agreement (“PSP”), which required Mesa to retain all of its employees.
Operationally, the Company ran a 99.8% controllable completion factor, compared to 99.0% in Q4 2019, and a total completion factor of 98.2%, which primarily includes weather, close-in capacity reductions driven by reduced demand, and other uncontrollable cancellations, compared to 96.9% in Q4 2019.
Full Year
Mesa reported net income of $27.5 million, or $0.78 per diluted share for the 2020 fiscal year, compared to net income of $47.6 million, or $1.36 per diluted share for the 2019 fiscal year. Excluding special items for both periods, adjusted net income1 was $27.5 million or $0.78 per diluted share for the 2020 fiscal year, compared to $57.5 million or $1.64 per diluted share for the 2019 fiscal year. Mesa fiscal 2020 results include, per GAAP, the deferral of $23.8 million of revenue, all of which was billed and paid by American and United during the year and will be recognized over the remaining terms of the contracts. Mesa’s Adjusted EBITDA1 was $163.3 million in fiscal year 2020, compared to $208.7 million in fiscal year 2019 and Adjusted EBITDAR was $212.1 million in fiscal year 2020, compared to $260.9 million in fiscal year 2019. For fiscal year 2020, revenue was $545.1 million, a reduction of $178.3 million (25%) from $723.4 million for fiscal year 2019, primarily due to the reduced flying as a result of COVID-19. During the year, Mesa recognized $83.8 million as an offset to wages and salaries related to the previously announced Payroll Support Program Agreement (“PSP”), which required Mesa to retain all of its employees as of April 20, 2020.
_______________ 1 See Reconciliation of non-GAAP financial measures
Fiscal 2020 Q4 Highlights
– EPS of $0.32, Full Year $0.78
– Year-end cash increased by $34.5 million to $99.4 million
Recent Updates
– Amended capacity purchase agreement with American to operate 40 CRJ-900s for a five-year term
– Commenced cargo operations for DHL with two Boeing 737-400F
– Added 10 new E175 aircraft to our United fleet in November and December
– Entered into a $195 million loan under the CARES Act with the U.S. Treasury
SpaceX is targeting Thursday, October 1 at 9:17 a.m. EDT for a Falcon 9 launch of 60 Starlink satellites from Launch Complex 39A (LC-39A) at Kennedy Space Center in Florida.
Falcon 9’s first stage previously supported launch of Crew Dragon’s first flight to the International Space Station with NASA astronauts onboard and the ANASIS-II mission. Following stage separation, SpaceX will land Falcon 9’s first stage on the “Of Course I Still Love You” droneship, which will be stationed in the Atlantic Ocean. One of Falcon 9’s fairing halves supported two previous Starlink launches.
The Starlink satellites will deploy approximately 1 hour and 1 minute after liftoff.
SpaceX is targeting Monday, July 20 for Falcon 9’s launch of the ANASIS-II mission, which will lift off from Space Launch Complex 40 (SLC-40) at Cape Canaveral Air Force Station in Florida. The primary launch window opens at 5:00 p.m. EDT, or 21:00 UTC, and closes at 8:55 p.m. EDT, or 00:55 UTC on July 21.Falcon 9’s first stage previously launched Crew Dragon to the International Space Station with NASA astronauts Bob Behnken and Doug Hurley on board.
Following stage separation, SpaceX will land Falcon 9’s first stage on the “Just Read the Instructions” droneship, which will be stationed in the Atlantic Ocean. The ANASIS-II spacecraft will deploy about 32 minutes after liftoff. Per the customer’s request, live coverage will end shortly after first stage landing.You can watch the launch webcast here, starting about 15 minutes before liftoff.
The U.S. Navy has awarded Boeing [NYSE: BA] a combined $3.1 billion in contracts for Harpoon and Standoff Land Attack Missile Expanded Response (SLAM ER) weapon systems in support of Foreign Military Sales (FMS). About $2.6 billion of that was contracted today while the remainder had been previously awarded.
“We are pleased to continue our long legacy of partnering with the Navy to build weapons that defend America and its international partners,” said Cindy Gruensfelder, vice president, Boeing Weapons. “These awards will not only extend production of the Harpoon program through 2026, they will also restart the production line for SLAM ER and ensure deliveries through 2028.”
Boeing last delivered the SLAM ER weapon system in 2008. In October 2019, Boeing began construction on a new 35,000 sq. ft. manufacturing facility to support increased production for the Harpoon and SLAM ER programs. Construction is expected to be complete in 2021.
Travellers in the US are set to enjoy more choice in the air, with the formal launch of Breeze Airways announced last week.
Previously known by the code name “Moxy”, the new airline is the brainchild of experienced airline executive David Neeleman, who is renowned for having established four successful airlines during his career.
With the experience of establishing the likes of Morris Air, WestJet, Jet Blue and Azul, each of Neeleman’s new entrants are notable for introducing a variety of innovations to the market.
Today considered commonplace; leading customer experience improvements include e-ticketed bookings, inflight TV streaming and the opening up of routes to city pairs previously not served by existing carriers.
