Tag: utah (Page 1 of 2)

Northrop Grumman Solid Rocket Boosters aid first ULA Vulcan Rocket launch

January 8, 2024 / WIL BALDWIN

Magna, Utah, January 8, 2024 – Two of Northrop Grumman Corporation’s (NYSE: NOC) extended length, 63-inch-diameter Graphite Epoxy Motors (GEM 63XL) solid rocket boosters helped power the inaugural flight of United Launch Alliance’s (ULA) Vulcan Rocket and the first certification (Cert-1) mission.

The GEM 63XL boosters are the longest monolithic, single-cast solid rocket boosters ever manufactured and flown.
The launch represents the first flight of the GEM 63XL solid rocket boosters.
The boosters delivered more than 900,000 pounds of thrust, nearly two-thirds of the vehicle’s total thrust at lift-off.

The Cert-1 mission carried two payloads, one that will deliver science and technology to the lunar surface, including Astrobotic’s first Peregrine Lunar Lander, Peregrine Mission One, as part of NASA’s Commercial Lunar Payload Services program and the second was Celestis’ Memorial Spaceflights deep-space Voyager mission.

Northrop Grumman began development of the fifth-generation GEM 63XL strap-on boosters in 2015, under a cooperative agreement with ULA to provide additional lift capability for the Vulcan launch vehicle. The motor was qualified for flight in 2020 via static test firing at the company’s Promontory, Utah, test facilities. In June 2022, ULA awarded Northrop Grumman a multi-year contract worth more than $2 billon for increased production of its GEM boosters, which will support Amazon’s Project Kuiper and additional ULA customers.

Northrop Grumman has supplied rocket propulsion to ULA and its heritage companies for various launch vehicles since 1964. The GEM 63XL is an extended length variation of the GEM 63 boosters, which have supported eight Atlas V launches with 27 boosters to date.

The company’s Commerce, Calif., facility also manufactured the Vulcan launch vehicle’s hydrazine diaphragm propellant tank, which feeds the Centaur upper stage Reaction Control System to provide guidance and control during the later stages of launch. This tank is a more powerful successor to the ones previously supplied by Northrop Grumman for the Atlas V and Delta IV programs.

Forward-Looking Statements

This press release may 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.

Union Pacific Railroad Collaboration and Visibility Provide Supply Chain Solutions

October 27, 2021 / WIL BALDWIN

LOS ANGELES, CALIFORNIA, OCTOBER 27, 2021 – The Port of Long Beach (POLB), the Utah Inland Port Authority (UIPA), and Union Pacific Railroad (NYSE: UNP) announced today a bold initiative that brings rapid relief from existing port congestion by optimizing rail deliveries between California and Utah.

The initiative is the first implementation of an agreement between POLB and UIPA that focuses on reducing congestion and cost associated with cargo movement through the corridor by optimizing the existing on- and near-dock rail system of the Port of Long Beach to reduce dwell times and improve the speed and consistency of rail deliveries to and from Utah.

Millions of TEUs of international goods are imported to or exported from the Intermountain West annually, but only 10% of this cargo currently moves by rail. This initiative aims to provide consistent, reliable movement of cargo on rail that improves fluidity and reduces delays of shipments already set to come to the Intermountain region, rather than increase cargo volume.

Loading 100 intermodal rail cars equates to 300 trucks off the road. An analysis by the Association of American Railroads concluded railroads are, on average, four times more fuel efficient than trucks and moving freight by rail instead of truck lowers greenhouse gas emissions by 75 percent.

Improving visibility of cargo is also a key component to untangling the supply chain and improving capacity. UIPA has announced the Intelligent Crossroads Network (“ICN”), a private 5G and artificial intelligence network built in partnership with QuayChain Technologies that will allow cargo tracking, monitoring and planning, and even greater efficiencies for users throughout the corridor connecting Long Beach and Utah.

SkyWest Enters Into Secured Loan Facility Under CARES Act

September 29, 2020 / WIL BALDWIN

St. George, Utah, Sept. 29, 2020 /PRNewswire/ — SkyWest, Inc. (NASDAQ: SKYW) (“SkyWest”) today announced that it and its wholly-owned subsidiary SkyWest Airlines, Inc. have entered into a five-year Loan and Guarantee Agreement with the U.S. Treasury Department which provides SkyWest Airlines with a secured term loan facility to borrow up to $573 million under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). On September 29, 2020, upon entry into the Loan Agreement, SkyWest Airlines borrowed $60 million under the facility and has until March 26, 2021 to determine if it will borrow additional amounts in up to two subsequent borrowings.

The interest rate under the secured term loan facility is LIBOR plus 3.0% with no amortization. In consideration for the loan, SkyWest is obligated to issue warrants to the U.S. Treasury Department to purchase shares of common stock based on, and in connection with, amounts drawn under the secured term loan facility. In connection with the initial $60 million draw under the facility, SkyWest issued warrants to purchase 211,416 shares of common stock at an exercise price of $28.38 per share.

The Loan and Guarantee Agreement also includes certain restrictions, including restrictions on the payment of dividends and the repurchase of SkyWest shares. The Secured Loan is collateralized by aircraft engines and aircraft parts.

JetBlue Founder David Neeleman Selects Salt Lake City as Headquarters for New Airline

December 16, 2019 / WIL BALDWIN

America’s newest and perhaps most innovative airline does not yet have a name, or any airplanes. But it now has a headquarters.

David Neeleman’s startup will be based in Salt Lake City, where it plans to spend a capital investment of $3.2 million and create nearly 400 jobs over the next five years, according to local authorities. In return, the state offered tax rebates worth as much as about $1.1 million over five years.

“There’s a super strong technology base, and lower cost of living than California and some of the coastal areas,” Lukas Johnson, the airline’s chief commericial said in an interview. “We want to focus more on the technology aspect of the transportation side, and it makes a lot of sense. The tech sector is booming out here.”

Click the link for the full story! https://finance.yahoo.com/news/jetblue-founder-david-neeleman-selects-195511487.html

Union Pacific Reports Positive Train Control Progress

November 3, 2019 / WIL BALDWIN

Union Pacific 4014 “Big Boy” steam locomotive visits Tucson, Arizona on October 18,2019

Union Pacific implemented Positive Train Control (PTC) on 1,113 route miles in the third quarter of 2019, bringing required PTC-operated route miles to 15,791 or 93 percent, including all required passenger train routes. Nearly all Union Pacific trains operating on PTC-mandated rail lines are operating with PTC locomotives. The company expects to have implemented PTC on all required lines by end of 2019, a year before the Congressional deadline. Its interoperability efforts with other railroads will continue through 2020.

Union Pacific currently hosts 31 freight and passenger railroads, which must achieve PTC interoperability by December 2020. Eleven of these railroads are already compliant, encompassing 85% of Union Pacific’s interoperable PTC train miles. While Union Pacific’s infrastructure is PTC-ready, it is working to be PTC-interoperable with the remaining partner railroads. The company’s expectation is that they will take necessary steps to reach interoperability on our network by mid-2020.

One of the most challenging parts of PTC implementation is ensuring system interoperability among all U.S. rail lines and locomotives. Given the various readiness levels of North American freight and passenger railroads, including publicly funded commuter lines and short lines, it is important that all railroads continue working together to maintain the health, safety, resiliency, and fluidity of the rail network during PTC implementation.

Union Pacific completed PTC installation on required route miles and employee training. PTC education is ongoing as Union Pacific retrains employees and introduces the system to new employees. Training materials are tailored to a variety of employee roles, including engineer, conductor, dispatcher, maintenance of way/engineering, mechanical, signal, telecom and information technologies.

With the FRA’s conditional approval of Union Pacific’s PTC safety plan on April 26, 2017, Union Pacific is running PTC operations on more than 15,000 miles in Arizona, Arkansas, California, Colorado, Idaho, Illinois, Iowa, Kansas, Louisiana, Minnesota, Missouri, Nebraska, Nevada, New Mexico, Oklahoma, Oregon, Tennessee, Texas, Utah, Washington, Wisconsin and Wyoming. Union Pacific and freight and passenger railroads continue working together to safely implement PTC on the remaining 1,271 required route miles.

Boeing Selected for A-10 Thunderbolt II Re-Winging Contract

August 21, 2019 / WIL BALDWIN

– Eleven-year award builds on more than a decade of A-10 support

PLANO, Texas, Aug. 21, 2019 /PRNewswire/ — Boeing (NYSE: BA) will continue its legacy of A-10 Thunderbolt II sustainment work under an Indefinite Delivery/Indefinite Quantity (IDIQ) contract award from the U.S. Air Force (USAF), with a maximum ceiling value of $999 million.

Under the contract, which was competitively awarded, Boeing will be responsible for managing the production of a maximum of 112 wing sets and spare kits. The USAF ordered 27 wing sets immediately at contract award.

“Boeing is honored to be selected to continue as the A-10 Thunderbolt II wing kit contractor,” said Pam Valdez, vice president of Air Force Services for Boeing Global Services. “Our established supply base, experience with the A-10 structures, and our in-depth knowledge of the U.S. Air Force’s requirements will help us deliver high-quality wings to meet the customer’s critical need.”

Boeing will team with Korean Aerospace Industries and other key suppliers to deliver the first wing sets to Hill Air Force Base in Ogden, Utah.

Under a previous contract, Boeing delivered 173 enhanced wing assemblies.

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As the top U.S. exporter, the company supports commercial and government customers in more than 150 countries. Boeing employs more than 150,000 people worldwide and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

SkyWest Rewards Investors With Dividend Hike & New Buyback

February 7, 2019 / WIL BALDWIN

In a regulatory filing, SkyWest SKYW announced that its board of directors has approved a new share repurchase program worth $250 million. Also, the regional carrier raised its quarterly dividend by 20%. Notably, this St. George, UT-based carrier has been consistently rewarding its shareholders for quite some time.

Twin Shareholder-Friendly Moves

This Zacks Rank #1 (Strong Buy) company hiked its quarterly dividend to 12 cents per share (annualized 48 per share), representing a 20% improvement from the previous payout of 10 cents per share (annualized 40 cents per share). The new dividend, which has been approved by the company’s board of directors, will be paid on Apr 4, 2019 to its stockholders of record as of Mar 29. The dividend yield based on the new payout and the Feb 6 closing market price is approximately 0.9%.

Click the link below for the full story!

https://finance.yahoo.com/news/skywest-rewards-investors-dividend-hike-121412826.html

SkyWest To Sell ExpressJet Airlines

December 18, 2018 / WIL BALDWIN

ST. GEORGE, UTAH, December 18, 2018 – SkyWest, Inc. (NASDAQ: SKYW) today announced that it ishas entered into definitive agreements to sell ExpressJet Airlines, Inc. (“ExpressJet”) to United Airlines(“United”) joint venture ManaAir, LLC. The transaction is expected to close in early 2019, subject tocustomary closing conditions.

Consideration for the transaction includes approximately $70 million in cash for the majority of the assetsand the assumption of liabilities of ExpressJet, subject to a working capital adjustment. The ExpressJetassets excluded from the transaction will be utilized or liquidated by SkyWest. The expected realizablevalue to SkyWest of the remaining inventory is estimated to approximate the value of the working capitaladjustment. SkyWest will retain ownership of the CRJ aircraft currently in service at ExpressJet.

The transaction also includes certain protections around existing SkyWest Airlines flying, as well as priorityposition to add 25 new dual-cabin aircraft with United should those opportunities arise. As part of thetransaction, SkyWest has also agreed to lease 20 CRJ200s to ExpressJet for up to five years.

“Today’s announcement provides further clarity and focus for the future,” said Chip Childs, SkyWest, Inc.President and Chief Executive Officer. “We want to thank the employees of ExpressJet for their valuedcontributions and we look forward to continuing to strengthen our partnership with United.”

About SkyWest

Based in St. George, Utah, SkyWest, Inc. is the holding company for two scheduled passenger airlineoperations and an aircraft leasing company with more than 17,000 employees. SkyWest’s airlinecompanies provide commercial air service in cities throughout North America with more than 2,500 dailyflights carrying approximately 50 million passengers annually. SkyWest Airlines operates throughpartnerships with United Airlines (“United”), Delta Air Lines (“Delta”), American Airlines (“American”) andAlaska Airlines. ExpressJet Airlines operates through partnerships with United and American. This pressrelease and additional information regarding SkyWest can be accessed at inc.skywest.com.

Forward-Looking Statements

In addition to historical information, this release contains forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Words such as “forecasts,” “expects,” “intends,” “believes,” “anticipates,”“estimates”, “should,” “likely” and similar expressions identify forward-looking statements. Such statements include, but arenot limited to, statements about the expected terms, timing and benefits related to the ExpressJet transaction, SkyWest’sfuture financial and operating results, plans, objectives, expectations, estimates, intentions and outlook, and otherstatements that are not historical facts. All forward-looking statements included in this release are made as of the datehereof and are based on information available to SkyWest as of such date. SkyWest assumes no obligation to update anyforward-looking statement. Readers should note that many factors could affect the future operating and financial results ofSkyWest, SkyWest Airlines or ExpressJet, and could cause actual results to vary materially from those expressed inforward-looking statements set forth in this release including the risk that the ExpressJet transaction may not close on theterms or timing described herein, or at all. Additional risk factors, cautionary statements and other conditions which couldcause SkyWest’s actual results to differ materially from management’s current expectations are contained in SkyWest’sfilings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and QuarterlyReports on Form 10-Q.

Story and image from http://www.skywest.com

SkyWest Q3 Earnings Surge Past Estimates

November 1, 2018 / WIL BALDWIN

SkyWest, Inc. (SKYW) delivered better-than-expected results in the third quarter of 2018. The company’s earnings of $1.57 per share, surpassed the Zacks Consensus Estimate of $1.41. Also, the bottom line improved 55.5% on a year-over-year basis. A lower effective tax rate boosted the same.

Quarterly revenues came in at $829.3 million, beating the Zacks Consensus Estimate of $826.4 million. Moreover, the top line benefited from the company’s improved fleet mix.

Click the link below for the full story!

SkyWest Q3 Earnings Surge

Allegiant Puts Tucson on its Route Map

August 23, 2018 / WIL BALDWIN

From www.flytucson.com

Allegiant, on August 21, announced it will start serving Tucson International Airport (TUS) in mid-November with nonstop flights to Bellingham, Washington, just across the border from Vancouver, and to Provo, Utah.

To celebrate the new service, Allegiant is offering introductory fares as low as $49 one way to Provo and $69 to Bellingham. Tickets must be purchased by Wednesday, August 22, 2018*.

“We’re thrilled to add another sunny Southwestern destination to our network,” said Drew Wells, Allegiant vice president of planning and revenue. “We are sure that travelers in Utah and Washington will take advantage of our convenient, friendly service to enjoy all that this beautiful region has to offer.”

Flights to both destinations will operate twice weekly on new Airbus jets.

The initial planned schedule (times approximate and subject to change):

Bellingham International Airport (BLI), effective November 15, 2018:

Provo Municipal Airport (PVU), effective November 16, 2018:

Exact schedules and fares can be found online at Allegiant.com.

“When our air service team is out in the community, I cannot tell you how many times they have been asked when Allegiant would serve TUS, and now we have the answer,” said Bonnie Allin, President and CEO of the Tucson Airport Authority. “We couldn’t be more thrilled to welcome Allegiant and its new destinations, our first-ever service to Provo and Bellingham, which gives us the opportunity to welcome our Canadian friends to sunny southern Arizona on a nonstop flight.”

Earlier this month Frontier Airlines announced it would also begin serving Tucson in November with nonstop flights to Denver. Both Allegiant and Frontier are known as ultra low cost carriers offering low basic fares and then offering an array of options at additional cost.

In addition to the basic flight, Allegiant also provides a range of travel options including rental cars and hotels.

Allegiant’s arrival means southern Arizonans can fly nonstop from their home airport to 22 destinations on nine airlines – Alaska, Allegiant, American, Delta, Frontier, Southwest, Sun Country, United and Via Air.

*Allegiant introductory one-way fares:
Seats are limited. Price includes taxes and fees. Fares are one way and not available on all flights. Flights must be purchased by Aug. 22, 2018 for travel by Feb. 28, 2018. For more details, optional services and baggage fees, please visit Allegiant.com. Additional restrictions may apply.

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