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Allegiant Airlines Announces Major Service Expansion

January 15, 2021 /

Allegiant (NASDAQ: ALGT) today announces 21 new nonstop routes, including nine routes to three new cities: Portland, Oregon; Key West, Florida, and Jackson Hole, Wyoming. Included as part of today’s announcement are eight routes that were delayed in 2020 due to the COVID-19 pandemic.

   

“Today, travelers are seeking destinations that allow them the chance to recreate in a safe way, usually outdoors,” said Drew Wells, Allegiant’s vice president of revenue and planning. “The three cities we’re adding to our network – Key West, Portland and Jackson Hole – are gateways to some of the United States’ most scenic destinations, including national parks and other outdoor attractions that are in high demand.”

New service from Jackson Hole Airport (JAC) includes:

  1. Los Angeles, California via Los Angeles International Airport (LAX) – beginning June 2, 2021.
  2. Phoenix, Arizona via Phoenix Mesa Gateway Airport (AZA) – beginning June 2, 2021.
  3. Las Vegas, Nevada via McCarran International Airport (LAS) – beginning June 4, 2021.
  4. Reno, Nevada via Reno-Tahoe International Airport (RNO) – beginning June 4, 2021.

New service from Key West International Airport (EYW) includes:

  1. Nashville, Tennessee via Nashville International Airport (BNA) – beginning June 2, 2021.
  2. Sanford, Florida via Orlando Sanford International Airport (SFB) – beginning June 4, 2021.

New service from Portland International Airport (PDX) includes:

  1. Santa Maria, California via Santa Maria Airport (SMX) – beginning April 15, 2021.
  2. Monterey, California via Monterey Regional Airport (MRY) – beginning May 28, 2021.
  3. Idaho Falls, Idaho via Idaho Falls Regional Airport (IDA) – beginning May 28, 2021.

New service from General Wayne A. Downing International Airport (PIA) includes:

  1. Sarasota, Florida via Sarasota-Bradenton International Airport (SRQ) – beginning May 27, 2021.
  2. Denver, Colorado via Denver International Airport (DEN) – beginning May 28, 2021.

The new route to/from Charleston, South Carolina via Charleston International Airport (CHS) includes:

  1. Belleville, Illinois/ St. Louis, Missouri via MidAmerica St. Louis Airport (BLV) – beginning May 28, 2021. 

The new route to/from Baltimore, Maryland via Baltimore/Washington International Thurgood Marshall Airport (BWI) includes:

  1. Punta Gorda, Florida via Punta Gorda Airport (PGD) – beginning May 27, 2021.

In addition to these new routes, Allegiant is announcing new dates for eight routes that were postponed in 2020 due to the pandemic.

The rescheduled routes to Norfolk International Airport (ORF) include:

  1. Pittsburgh, Pennsylvania via Pittsburgh International Airport (PIT) – beginning June 3, 2021.
  2. Columbus, Ohio via Rickenbacker International Airport (LCK) – beginning June 3, 2021.

The rescheduled route to Nashville, Tennessee via Nashville International Airport (BNA) includes: 

  1. Greensboro, North Carolina via Piedmont Triad International Airport (GSO) – beginning June 3, 2021.

The rescheduled route to/from Boston, Massachusetts via Boston Logan International Airport(BOS) includes:

  1. Grand Rapids, Michigan via Gerald R. Ford Airport (GRR) – beginning March 5, 2021.

The rescheduled route to/from Louisville, Kentucky via Louisville International Airport (SDF)includes:

  1. Charleston, South Carolina via Charleston International Airport (CHS) – beginning May 28, 2021.

The rescheduled route to/from Myrtle Beach, South Carolina via Myrtle Beach International Airport (MYR) includes:

  1. Knoxville, Tennessee via McGhee Tyson Airport (TYS) – beginning June 2, 2021.

The rescheduled routes to/from Hudson Valley, New York via New York Stewart International Airport (SWF) include:

  1. Destin, Florida via Destin-Fort Walton Beach Airport (VPS) – beginning June 13, 2021.
  2. Savannah, Georgia via Savannah International Airport (SAV) – beginning May 26, 2021.

Optional baggage charges and additional restrictions may apply. For more details, optional services and baggage fees, please visit Allegiant.com

Genesee & Wyoming Announces Completion of Sale to Brookfield Infrastructure and GIC

December 30, 2019 /

Genesee & Wyoming Inc. (G&W) today announced the completion of its previously announced sale to affiliates of Brookfield Infrastructure and GIC.

Under the terms of the sale, each issued and outstanding share of G&W common stock converted into the right to receive $112 in cash. As a result of the completion of the sale, G&W’s common stock ceased trading on the NYSE prior to market open today and will no longer be listed for trading on the NYSE.

“This transaction is an excellent outcome for all G&W stakeholders,” said Jack Hellmann, Chief Executive Officer of G&W. “For our customers, employees, and Class I partners, the long-term investment horizon of Brookfield and GIC is perfectly aligned with the long lives of G&W railroad assets. We look forward to building on G&W’s track record of safety, service excellence and commercial growth as we become an important component of a portfolio of global infrastructure assets.”

About Genesee & Wyoming

G&W owns or leases 119 freight railroads organized in locally managed operating regions with 8,000 employees serving 3,000 customers.

  • G&W’s six North American regions serve 42 U.S. states and four Canadian provinces and include 113 short line and regional freight railroads with more than 13,000 track-miles.
  • G&W’s Australia Region serves New South Wales, the Northern Territory and South Australia and operates the 1,400-mile Tarcoola-to-Darwin rail line. The Australia Region is 51.1% owned by G&W and 48.9% owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
  • G&W’s UK/Europe Region includes the U.K.’s largest rail maritime intermodal operator and second-largest freight rail provider, as well as regional rail services in Continental Europe.

G&W subsidiaries and joint ventures also provide rail service at more than 40 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, contract coal loading, and industrial railcar switching and repair. For more information, please visit www.gwrr.com.

About Brookfield Infrastructure

Brookfield Infrastructure Partners is a leading global infrastructure company that owns and operates high quality, long-life assets in the utilities, transport, energy and data infrastructure sectors across North and South America, Asia Pacific and Europe. We are focused on assets that generate stable cash flows and require minimal maintenance capital expenditures. Brookfield Infrastructure Partners is listed on the New York and Toronto stock exchanges. Further information is available at www.brookfieldinfrastructure.com.

Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a leading global alternative asset manager with over $500 billion of assets under management. For more information, go to www.brookfield.com.

About GIC

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In infrastructure, GIC’s primary strategy is to invest directly in operating assets with a high degree of cash flow visibility and which provide a hedge against inflation. GIC has investments in over 40 countries. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

Union Pacific Reports Positive Train Control Progress

November 3, 2019 /
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.

Brookfield, GIC to Buy Railroad Owner Genesee & Wyoming

July 1, 2019 /

July 1 (Reuters) – Canada’s Brookfield Asset Management Inc and Singaporean sovereign wealth fund GIC on Monday agreed to buy U.S. freight railroad owner Genesee & Wyoming Inc for about $6.4 billion in cash.

Brookfield and GIC’s offer of $112 per share represents a premium of 12 percent to Genesee’s closing price on Friday. Genesee shares were up about 8 percent in trading before the bell.

Including debt, the deal is valued at about 8.4 billion, the companies said in a statement.

Genesee & Wyoming’s revenue have increased at a compound annual growth rate of 16.8% since it floated in the stock market in 1996, rising to $2.3 billion in 2018 from $77.8 million, according to Genesee & Wyoming’s latest annual report.

The company owns a portfolio of 120 short-line railroads, predominantly in North America, with operations in Europe and Australia.

Reuters had reported on the deal on Sunday, citing sources.

The deal, which is expected to close by year end or early 2020, would be the latest big leveraged buyout by Brookfield, which agreed last year to buy Johnson Controls International Plc’s power solutions business for about $13 billion.

Citigroup Global Markets Inc served as the financial adviser to Brookfield and GIC, while BofA Merrill Lynch and Morgan Stanley & Co LLC advised Genesee.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D’Silva)

Genesee & Wyoming Q4 Earnings Top Estimates, Rise Y/Y

February 7, 2019 /

Genesee & Wyoming Inc.’s GWR fourth-quarter earnings (excluding 6 cents from non-recurring items) of $1 per share surpassed the Zacks Consensus Estimate of 90 cents. The bottom line also improved 29.9% on a year-over-year basis. Results were aided by an impressive performance at the North American segment.

Operating revenues inched up 0.7% year over year to $575.6 million, which outpaced the Zacks Consensus Estimate of $569.9 million. Freight revenues accounting for bulk (69.7%) of the top line rose 2.3% to $401.22 million. Meanwhile, freight-related revenues contributing to 24.8% of the top line slid 2.2% to $142.55 million. The balance came from ‘other revenues’.

Click the link below for the full story!

https://finance.yahoo.com/news/genesee-wyoming-gwr-q4-earnings-123012876.html

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