Austrian Airlines has found a buyer for the three long-haul aircraft that were up for sale. The Boeing 767-300ER aircraft will go to the U.S. company MonoCoque Diversified Interests. The purchase agreement has already been signed. The parties have agreed not to disclose the purchase price. The first aircraft, registered OE-LAT, will leave Vienna at the beginning of March for Pinal Airpark, Arizona. The aircraft is currently undergoing all the necessary preparations for the handover. The next transfer flight is scheduled for May with the Boeing 767 registered OE-LAX.
“Being able to sell all three Boeing 767’s to one buyer is very gratifying and a big step for our fleet transition”, says Austrian Airlines CEO Alexis von Hoensbroech. “I would like to thank MonoCoque Diversified Interests for the good negotiations and our team for their great commitment.”
“MDI is excited to continue the growth of its passenger and cargo aviation portfolio with the addition of three 767-300ERs”, adds MDI’s manager Mary Alice Keyes. “It has been a pleasure to work with Austrian Airlines, a group with a long history and outstanding pedigree.”
At an average of 28.5 years, the three 767’s sold are among the oldest aircraft in the Austrian Airlines fleet. The remaining three 767’s are between 20 and 22 years of age. After the completed handover, Austrian Airlines will continue to have nine long-haul jets at its disposal, which will connect Austria with destinations around the globe – from the USA to the Far East. In detail, these are six Boeing 777’s with over 300 seats and three Boeing 767’s with over 200 seats.
Until the beginning of 2022, 28 aircraft will leave the fleet of Austria’s home carrier: In addition to the aforementioned three Boeing 767-300ER’s, 18 Dash turboprops and seven Airbus A319 jets will be handed over. Ten turboprops have already left Vienna, with the remaining eight to follow soon. This means that the fleet will consist of around 60 aircraft by the beginning of 2022. As mainly smaller aircraft will be retired, this corresponds to a capacity reduction of around 20 percent.
HONG KONG, April 19 (Reuters) – United Airlines will sell and lease back 22 planes to Bank of China (BOC) Aviation, a statement from the aircraft investor released to the Hong Kong Stock Exchange said on Sunday.
The deal involves six Boeing 787-9 aircraft and 16 Boeing 737-9 MAX aircraft from United Airlines, the statement said.
The Singapore-based BOC Aviation did not reveal how much the purchase was worth but said the planes would be leased back to United on long-term agreements.
United said on Wednesday it had reduced its flight schedule in May by 90% and expects similar cuts for June as a result of the coronavirus pandemic.
The U.S. airline also said it flew less than 200,000 people in the first two weeks of April, a 97% drop from the more than 6 million people it flew during the same time in 2019.
BOC Aviation, which focuses on aircraft leasing, has a fleet of 567 planes owned, managed or on order as at the end of March, the statement said
The transaction was finalised on Friday and the deal is expected to close later this year, the statement said.
(Reporting by Scott Murdoch. Editing by Jane Merriman)
Consortium of bidders led by Advent, Cinven and RAG foundation
Sales proceeds pave the way for further transformation of thyssenkrupp
Cash inflow remains within the company
Buyers give far-reaching site and employment guarantees for tk Elevator
Closing and purchase price payment expected by the end of the current fiscal year
Martina Merz: “With the sale of Elevator, thyssenkrupp can pick up speed again. We will reduce the company’s debt as far as is necessary and at the same time invest as much as is reasonable in its further development.”
thyssenkrupp sells its Elevator Technology business entirely to a consortium led by Advent, Cinven and RAG foundation. The respective Executive Board decision was approved on Thursday evening by the Supervisory Board of thyssenkrupp AG. The purchase agreement has been signed. Closing of the transaction is expected by the end of the current fiscal year. The purchase price is €17.2 billion. thyssenkrupp will reinvest part of the purchase price[1] (€1.25 billion) in a stake in the elevator business. The transaction is subject to merger control approvals, although thyssenkrupp does not expect the competent authorities to have any reservations. The proceeds from the transaction will remain within the company and are to be used to the extent necessary to strengthen the balance sheet. Alongside this, the proceeds shall be used to advance the development of the remaining businesses and the portfolio. As announced at the Annual General Meeting at the end of January, thyssenkrupp is proceeding the analysis phase so that a decision on the concrete use of funds can be taken in May.
Martina Merz, CEO of thyssenkrupp AG: “With the sale, we are paving the way for thyssenkrupp to become successful. Not only have we obtained a very good selling price, we will also be able to complete the transaction quickly. It is now crucial for us to find the best possible balance for the use of the funds. We will reduce thyssenkrupp’s debt as far as is necessary and at the same time invest as much as is reasonable in developing the company. With this, thyssenkrupp can pick up speed again.”
The sale of Elevator is a favorable solution not only for the company, its shareholders, customers and employees, but also for the elevator business itself. In the consortium, thyssenkrupp has found new owners for the elevator business who have extensive industrial expertise and offer the workforce a high degree of security. The buyers have a strong track record in profitably growing and nurturing companies to become global champions.
In negotiations with employee representatives and the IG Metall trade union, the buyers have committed to far-reaching site and employment guarantees. In addition, it was agreed that the buyers will continue to manage thyssenkrupp Elevator as a global group. The company will also remain based in Germany and employee co-determination will continue. That means the solution is in line with thyssenkrupp’s understanding of corporate and social responsibility.
“We are not pleased to part with our employees and the elevator business. Nevertheless, today is a good day for everyone involved. With this step, we are opening up real prospects for the future: for the elevator business as an independent company and, with the financial solidity we have gained, also for all other areas of thyssenkrupp,” Martina Merz added.
New Technology Creates Hyper Elevators That Can Go Sideways
Aircraft sold to U.S.-based Fargo Jet Center, which will convert spacious interior into cutting-edge medevac suite
Bombardier’s newest Learjet aircraft, the Learjet 75 Liberty, delivers best-in-class speed and range and the smoothest ride at an exceptional value
Learjet aircraft have a proud history of service in medevac configuration, with room for up to three stretchers and adherence to more stringent safety standards than other light jets
U.S.-based Spectrum Aeromed will supply air medical equipment
Bombardier is proud to announce the sale of two Learjet 75 Liberty aircraft to North Dakota-based Fargo Jet Center (FJC). The aircraft are to be converted to dedicated medevac configuration and delivered to air ambulance service provider Lotnicze Pogotowie Ratunkowe (LPR), based in Warsaw, Poland.
Following an extensive international competitive tender, LPR selected the Learjet 75 Liberty aircraft, with FJC’s proposed medevac interior, to serve its expanding operations.
Bombardier will enter its newest Learjet aircraft, the Learjet 75 Liberty, into service this year. This spacious and powerful light jet features a next-generation flight deck and optimized operating costs, with enough range to reach any European destination nonstop out of Warsaw.*
“The Learjet 75 Liberty aircraft, with its best-in-class spaciousness, speed and range, is an excellent choice for medevac missions,” said Stéphane Leroy, Vice President, Sales, Bombardier Specialized Aircraft. “Learjet aircraft have long been a trusted platform for all types of special missions, and the Learjet 75 Liberty aircraft gives operators even more reasons to choose the world’s best light jet.”
The Learjet 75 Liberty aircraft adheres to more stringent safety standards than most light jets, meeting the same rigorous certification requirements as commercial aircraft, for the ultimate peace of mind on emergency medical service (EMS) missions.
Fargo Jet Center has extensive experience converting aircraft interiors for medevac use. FJC is expected to take delivery of the Learjet 75 Liberty aircraft from Bombardier in late-2020, then deliver the converted EMS aircraft to LPR in Poland in 2021. Spectrum Aeromed, also based in Fargo, has been selected as the air medical equipment provider on the project. The Spectrum Aeromed team will contribute to a highly customized, state-of-the-art dedicated air ambulance interior for the two Learjet 75 Liberty aircraft.
“It is a pleasure to be working with Bombardier, LPR and Spectrum Aeromed to develop one of the most capable light jet EMS aircraft in the world today,” said Patrick Sweeney, CEO, Fargo Jet Center. “Our team brings a unique skill set to this project through our extensive history in modifying aircraft for special missions. From initial conception to design, fabrication and installation, our experts will transform the interior of the Learjet 75 Liberty aircraft to meet LPR’s specifications.”
In operation since 2000, Lotnicze Pogotowie Ratunkowe provides 24/7 air ambulance services throughout Poland via a fleet of 27 rotary wing and two turboprop aircraft. The addition of the Learjet platform will mark the expansion of LPR’s operations to include jet aircraft.
“The acquisition of the new Learjet 75 Liberty aircraft fits perfectly into our strategic plans for growth in Poland and will provide the necessary combination of speed and range to drive the expansion of our operational capabilities and EMS transport availability into international operations,” said Wojciech Wozniczka, LPR Director of key project management.
With a flat floor and the longest cabin in its class, the Learjet 75 Liberty aircraft is ideal for EMS conversion. It has room to accommodate up to three stretchers and sophisticated medical equipment, as well as seating for medical staff. The Learjet 75 Liberty aircraft also has the smoothest ride among light jets, which on EMS missions adds to the comfort of patients receiving care.
The Learjet 75 Liberty aircraft delivers superior performance at an exceptional value proposition, for the same operating costs as those of competitor aircraft that offer less. The Learjet 75 Liberty aircraft is the fastest aircraft in the light jet segment with longer range than the competition. With its range of 2,080 nautical miles, out of Warsaw this aircraft can reach all of Europe, including Iceland, and beyond into Northern Africa, Russia and the Middle East.
In civilian configuration, the Learjet 75 Liberty aircraft features a six-seat layout that gives light jet passengers unprecedented freedom to stretch out. A standard pocket door delivers a quiet flight, while retractable side tables and stowable ottomans ensure productivity and comfort.
LONDON (Reuters) – U.S. buyout fund Warburg Pincus said on Monday that it had clinched a deal to sell its European airline services firm Accelya to rival private equity fund Vista Equity Partners for an undisclosed amount.
The deal, which was first reported by Reuters, allows Warburg Pincus to fully cash out after backing the Barcelona-based company for the past two years.
The U.S. investment firm launched an auction process during the summer to find a new owner for the business which serves more than 200 airlines including British Airways, Lufthansa and EasyJet.
Warburg Pincus bought Accelya from French private equity firm Chequers Capital in 2017 and quickly tripled its revenues by merging it with Mercator, a Dubai-based travel services group in which the U.S. buyout firm had been an investor since 2014.
Vista Partners, whose portfolio is mostly focused on software companies, was recently vying to buy a majority stake in WPP’s (WPP) data analytics firm Kantar but lost it to Bain Capital.
Its Chief Executive Robert Smith said Accelya was “at the forefront of innovation and positioned to shape the airline and travel industry for decades to come.”
Accelya employs 2,500 employees across 24 offices in 14 countries and recently signed a long-term deal as the International Air Transport Association’s (IATA) technology partner.
Bank of America (BAC) and Evercore advised Warburg Pincus on the deal while Vista hired Goldman Sachs (GS) and Houlihan Lokey to work on the purchase.
Law firm Kirkland & Ellis and Simpson Thacher served as the legal advisors to Warburg Pincus and Vista, respectively.
Reporting by Pamela Barbaglia; Editing by Susan Fenton
