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air101blog · 9 months

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Wyndham Hotels & Resorts publishes its results for the three months ended June 30, 2023. https://ift.tt/Php74aZ

Wyndham Hotels & Resorts has announced results for the three months ended June 30, 2023. Highlights include:

Global RevPAR grew 7% compared to second quarter 2022 in constant currency.

System-wide rooms grew 4% year-over-year.

Development pipeline grew 1% sequentially and 10% year-over-year.

Signings of 24,000 rooms grew 6% year-over-year and 7% compared to 2019.

Awarded 60 new construction projects for ECHO Suites Extended Stay by Wyndham in July, including its first hotels in Canada, bringing the total number of contracts to 265.

Returned $139 million to shareholders through $109 million of share repurchases and a quarterly cash dividend of $0.35 per share.

Successfully completed the refinancing of its Term Loan B Facility, extending maturity from 2025 to 2030.

“During the second quarter, we celebrated the tremendous progress we’ve made in our five-year journey as a new public company with another quarter of solid results including global RevPAR growth of 7%, net room growth of 4% and the 12th consecutive quarter of sequential growth in our development pipeline, which has never been stronger,” said Geoff Ballotti, president and chief executive officer. “International travel demand continues to accelerate, our U.S. economy brands continue to outperform the industry and our nation’s infrastructure bill spend is expected to represent a meaningful tailwind for our franchisees in the months and years ahead. We remain very confident in our ability to deliver outstanding value for our franchisees and shareholders, as does our Board of Directors who today approved a $400 million increase in our share repurchase authorization, reflecting their confidence in the ongoing strength of our business and our strong free cash flow.”

Second Quarter Financial Results

The comparability of the Company’s second quarter results is impacted by the sale of its owned hotels and the exit of its select-service management business, both of which occurred in 2022, as well as quarterly timing variances from its marketing funds. The Company’s reported results and comparable-basis results (adjusted to neutralize these impacts) are presented below to enhance transparency and provide a better understanding of the results of the Company’s ongoing operations:

Fee-related and other revenues was $358 million compared to $354 million in second quarter 2022, which included $12 million from the Company’s select-service management business and owned hotels. On a comparable basis, fee-related and other revenues increased 5% year-over-year primarily reflecting higher royalties and franchise fees resulting from global RevPAR and system growth.

The Company generated net income of $70 million, or $0.82 per diluted share, compared to $92 million, or $1.00 per diluted share, in second quarter 2022. The decline in net income was expected and reflective of the marketing fund variability, higher interest expense and transaction-related costs primarily related to the Company’s refinancing of its Term Loan B Facility. On a comparable basis, adjusted diluted earnings per share grew 10% reflecting 8% growth in comparable basis adjusted EBITDA and a lower share count due to share repurchase activity.

Adjusted EBITDA was $158 million compared to $175 million in second quarter 2022. On a comparable basis, adjusted EBITDA increased 8% year-over-year primarily reflecting higher fee-related and other revenues.

During second quarter 2023, the Company’s marketing fund expenses exceeded revenues by $15 million; while in second quarter 2022, the Company’s marketing fund revenues exceeded expenses by $12 million, resulting in $27 million of marketing fund variability.

Full reconciliations of GAAP results to the Company’s non-GAAP adjusted measures for all reported periods appear in the tables to this press release.

System Size

The Company’s global system grew 4%, reflecting 1% growth in the U.S. and 9% growth internationally. As expected, these increases included strong growth in both the higher RevPAR midscale and above segments in the U.S. and the direct franchising business in China, which grew 4% and 13%, respectively, as well as 80 basis points of growth globally and 200 basis points internationally from the acquisition of the Vienna House brand. The Company remains solidly on track to achieve its net room growth outlook of 2 to 4% for the full year 2023, including an increase in its retention rate compared to 2022.

RevPAR

Second quarter global RevPAR grew by 7% in constant currency compared to 2022 reflecting a 1% decline in the U.S. and growth of 34% internationally. The Company had achieved record-breaking RevPAR in the U.S. during the preceding year due to COVID-impacted travel patterns. Comparing to 2019 to neutralize for these impacts, U.S. RevPAR grew 8%, a 30 basis point acceleration from first quarter 2023 growth. The international RevPAR growth was driven equally by stronger pricing power and higher occupancy levels.

Development

On June 30, 2023, the Company’s global development pipeline consisted of nearly 1,850 hotels and approximately 228,000 rooms, representing a 10% year-over-year increase, including 22% growth in the U.S.

Approximately 72% of the Company’s pipeline is in the midscale and above segments.

Approximately 57% of the Company’s development pipeline is international.

Approximately 81% of the Company’s pipeline is new construction, of which approximately 35% has broken ground.

During second quarter 2023, the Company awarded 179 new contracts for its legacy brands, an increase of 8% year-over-year. In July, the Company awarded 60 additional new contracts for its ECHO Suites Extended Stay by Wyndham brand to established and experienced developers, including what will be the brand’s first hotels in Canada. This brings the total number of contracts awarded for the brand to 265 since its launch, or nearly 33,000 rooms.

Cash and Liquidity

The Company generated net cash provided by operating activities of $83 million and free cash flow of $74 million in second quarter 2023. The Company ended the quarter with a cash balance of $63 million and approximately $800 million in total liquidity.

In May 2023, the Company successfully amended and extended its outstanding Senior Secured Term Loan B Facility (“Prior Term Loan B”), which was due May 2025. The new $1.1 billion Senior Secured Term Loan B Facility (“New Term Loan B”) matures in May 2030 and carries an interest rate of SOFR plus 2.25% (with a 0.10% credit spread adjustment). The net proceeds from the New Term Loan B were used to repay all outstanding principal under the Company’s Prior Term Loan B.

As a result of this transaction, the Company moved its next material debt maturity to 2027 and increased its weighted average maturity from 3.2 to 6.0 years, providing significant financial flexibility to execute on the Company’s strategic objectives of delivering outstanding value to its guests and franchisees while driving strong shareholder return.

Share Repurchases and Dividends

During the second quarter, the Company repurchased approximately 1.6 million shares of its common stock for $109 million at an average price of $68.56 per share. Year-to-date through June 30, the Company repurchased approximately 2.4 million shares of its common stock for $165 million at an average price of $69.20 per share. The Company’s Board of Directors recently increased the Company’s share repurchase authorization by $400 million.

The Company paid common stock dividends of $30 million, or $0.35 per share.

Full-Year 2023 Outlook

The Company is refining its outlook as follows:

The reduction in adjusted net income represents an increase in interest expense due, in part, to the refinancing of the Company’s Term Loan B. This impact was offset in adjusted diluted EPS by second quarter share repurchase activity.

Year-over-year growth rates are not comparable due to the sale of the Company’s owned hotels and the exit of its select-service management business, both of which occurred during 2022, as well as the variability in its marketing funds due to the support that the Company provided to its owners during 2020.

The Company’s expectations for full-year 2023 marketing funds contribution to adjusted EBITDA is unchanged at $10 million. The Company expects fund revenues will outpace fund expenses by $29 million in the second half of 2023 with approximately $10 million to $15 million per quarter.

More detailed projections are available in Table 8 of this press release. The Company is providing certain financial metrics only on a non-GAAP basis because, without unreasonable efforts, it is unable to predict with reasonable certainty the occurrence or amount of all of the adjustments or other potential adjustments that may arise in the future during the forward-looking period, which can be dependent on future events that may not be reliably predicted. Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to the reported results.

Conference Call Information

Wyndham Hotels will hold a conference call with investors to discuss the Company’s results and outlook on Thursday, July 27, 2023 at 8:30 a.m. ET. Listeners can access the webcast live through the Company’s website at https://ift.tt/IsYE1vg. The conference call may also be accessed by dialing 800 267-6316 and providing the passcode “Wyndham”. Listeners are urged to call at least five minutes prior to the scheduled start time. An archive of this webcast will be available on the website beginning at noon ET on July 27, 2023. A telephone replay will be available for approximately ten days beginning at noon ET on July 27, 2023 at 800 839-5124.

Presentation of Financial Information

Financial information discussed in this press release includes non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors as an additional tool for further understanding and assessing the Company’s ongoing operating performance. The Company uses these measures internally to assess its operating performance, both absolutely and in comparison to other companies, and to make day to day operating decisions, including in the evaluation of selected compensation decisions. Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of GAAP results to the comparable non-GAAP measures for the reported periods appear in the financial tables section of this press release.

About Wyndham Hotels & Resorts

Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 852,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers over 103 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally.

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air101blog · 9 months

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Aviation sector will institute cassation proceedings https://ift.tt/kZb4EU6

Numerous airlines will institute cassation proceedings against the judgement of the Amsterdam Court of Appeal regarding the proposed implementation of a temporary experimentation rule. The group includes KLM Group (KLM Royal Dutch Airlines, KLM Cityhopper, Martinair and Transavia), Delta Air Lines, United Airlines, JetBlue, Air Canada, easyJet, Corendon, TUI fly, and trade associations IATA, which has 300 airline members worldwide, and Airlines for America (A4A), which represents 10 U.S. airlines. This step is supported by the airline industry associations BARIN, Air Cargo Netherlands (ACN), Airlines for Europe (A4E) and the European Regions Airline Association (ERA).

The current judgement by the Amsterdam Court of Appeal creates a lack of clarity and causes uncertainty for passengers and the aviation sector. This is because it is unclear how the experimental scheme will be applied, how it should be enforced and ultimately - how the ruling will affect the number of aircraft movements at Schiphol. Moreover, the judgement conflicts with national, European and international regulations. It is in the interests of all parties to obtain clarity.

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air101blog · 9 months

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Britian's spy chief speaks about the current focus of the secret intelligence service and the value of the “human factor” in the age of AI. https://ift.tt/O08ovEs

On 19th July at the British Embassy in Prague, Sir Richard Moore, the current head of the Secret Intelligence Service, spoke about the current focus of the Service and the value of the human factor in the age of AI.

Sir Richard, who took over the top job at the service commonly known as MI6 at the start of October 2020 and was previously the Director General for Political Affairs, at the Foreign, Commonwealth and Development Office. He is also a former British ambassador to Turkey, cited Graham Greene's book The Human Factor as a fine novel about the spying profession even if it isn't particularly flattering. Moore highlighted the notion that MI6 exists to create and nurture extraordinary and highly charged human relationships between agents overseas and the intelligence officers who work.

In a surprising amount of candor, Sir Richard confirmed that even despite its horredious invasion of Ukraine, Russia was not the main focus of attention for MI6. No, the service now devotes far more resources and effort on China and the activities of the Chinese authorities. This perhaps reflects China’s increasing global significance and echoing the UK's Foreign Secretary words, he aserted the UK would robustly defend the national security and values.

Artificial Intligence was a key feature of the speech, including insights into MI6's use of AI which is helping officers enhance "their own judgement about how people might act in various situations. They are combining their skills with AI and bulk data to identify and disrupt the flow of weapons to Russia for use against Ukraine."

Read the fill speech below.

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Good morning everyone, Your Excellencies, Ministers, ladies and gentlemen, I’m delighted to be in Prague and to be visiting such a close friend and ally of the United Kingdom.

In particular, I’m grateful to be joined today by my friends and colleagues in the Czech intelligence services with whom we have an outstanding partnership.

It was here in this beautiful capital, almost exactly 55 years ago, on the 18th July 1968, that Alexander Dubcek broadcast to the nation at a moment of supreme crisis.

Millions were daring to hope that the liberalising reforms of the Prague Spring would genuinely change what that great Czech Vaclav Havel would later call the “contaminated moral environment” of Communist rule.

Dubcek voiced that optimism by saying, and I quote:

“We shall finish the democratic process that we have begun….Today, after many years, people can come out openly without fear for their opinions.”

Those were fateful words, because we know what happened next: one month and two days later, columns of Russian tanks rolled through the streets around us, re-imposing by brute force another generation of oppression on the Czech people before they finally regained their freedom.

No-one described those years with greater skill or originality than the late Milan Kundera, a giant of European literature, whose passing we all mourn.

So any visiting British official should come to the Czech Republic in a spirit of humility, particularly when Russian tanks have, once again, invaded a European nation.

Our Czech friends know better than we British ever will the realities of dictatorship, and the bleak, pitiless mentality of conquest and domination that lay behind the tragedy of 1968 and drives Vladimir Putin today.

Not surprisingly, the Czech Republic was among the very first countries in Europe to come to Ukraine’s aid with essential military supplies and has continued to show extraordinary humanitarian generosity to the Ukrainian people.

And I take heart from the uplifting fact that no amount of force or repression, in four decades of tyranny, could overcome the courage and dignity of the Czech people, just as Putin is discovering that nothing he can do in Ukraine will break that nation’s will to resist and triumph.

And it’s the human factor – intangible but vital – that I want to concentrate upon today in my second public speech in this role.

My service is surrounded by mythology – not all of which I would wish to dispel. The Human Factor by Graham Greene is a rather fine but not very flattering novel about my profession and my service.

But the title is undeniably accurate because my service exists to create and nurture one of the most extraordinary and highly charged human relationships: the unique bond of trust between agents overseas and the intelligence officers who work with them.

Recruiting and running those agents in the toughest and most inhospitable places on earth is what we do: that is our core business, what no-one else in the British Government can do.

Courageous men and women from other nations choose to make common cause with us - often at immense risk – and everything depends on forging a relationship of empathy, confidence and understanding.

We have to maintain secrecy, not as an end in itself, but because the lives of our agents and the effectiveness of our work depend upon it. And we never forget that the very best human qualities are found in all nations.

There were many Russians, in 1968, who saw the moral travesty of what was being done here in Prague. They had no wish to be on the wrong side of history and the bravest of them acted on their convictions by throwing in their lot with us, as partners for freedom.

There are many Russians today who are silently appalled by the sight of their armed forces pulverising Ukrainian cities, expelling innocent families from their homes, and kidnapping thousands of children.

They are watching in horror as their soldiers ravage a kindred country. They know in their hearts that Putin’s case for attacking a fellow Slavic nation is fraudulent, a miasma of lies and fantasy.

One architect of that onslaught, Yevgeny Prigozhin, demolished the whole charade in a single sentence when he said, and I quote:

“The war was needed for Shoigu to receive a hero star….The oligarchic clan that rules Russia needed the war.”

He added – and I stress these were his words not mine –

“The mentally ill scumbags decided: ‘it’s OK, we’ll throw in a few thousand more Russian men as cannon fodder. They’ll die under artillery fire, but we’ll get what we want.”

A few hours after saying that, Prigozhin was marching on Moscow, leading a mutiny which exposed the inexorable decay of the unstable autocracy over which Putin presides.

As they witness the venality, infighting and sheer callous incompetence of their leaders - the human factor at its worst -many Russians are wrestling with the same dilemmas and the same tugs of conscience as their predecessors did in 1968.

I invite them to do what others have already done this past 18 months and join hands with us. Our door is always open.

We will handle their offers of help with the discretion and professionalism for which my service is famed. Their secrets will always be safe with us, and together we will work to bring the bloodshed to an end.

My service lives by the principle that our loyalty to our agents is lifelong - and our gratitude eternal.

One of my earlier acts as C was to repatriate the ashes of a woman who had died just after turning 100, having worked for SIS by penetrating German intelligence – the Abwehr – in Lisbon in 1944. She was codenamed ECCLESIASTIC and, in her retirement, generations of MI6 officers helped to look after her.

We have a picture of her photographing what was ostensibly a British Top Secret document, in a deception operation that successfully fooled the German high command.

Nearly 80 years later, we gathered in honour of ECCLESIASTIC to scatter her ashes in the English Channel, within sight of where the Allied fleet sailed from Portsmouth to liberate Europe and end a catastrophic conflict.

In the same way, today’s ruinous war will only truly end when a sovereign Ukraine lives in freedom.

To bring forward that moment, Ukraine’s armed forces are now on the offensive, demonstrating their astonishing ability to innovate and mobilise new technology.

Last summer, at the Aspen Security Conference, I noted that the Russian effort appeared to be “running out of steam” – it was and there appears now to be little prospect of the Russian forces regaining momentum.

In the last month, Ukraine has liberated more territory than Russia captured in the last year.

At this moment in the conflict it’s even more vital for Ukraine’s friends to press on and sustain their support, so that Ukrainian valour on the battlefield continues to find its counterpart in the enduring will of allied countries to arm, provision and train them for “as long as it takes”, to quote the emphatic communique of the NATO summit in Vilnius.

Some nations, by contrast, have reduced themselves to being accomplices of the aggressor. Iran’s decision to supply Russia with the suicide drones that mete out random destruction to Ukraine’s cities has provoked internal quarrels at the highest level of the regime in Tehran.

And so it should, because that decision was unconscionable.

Iran seeks cash by selling arms to Russia to enable them to kill Ukrainian soldiers and civilians.

Russia, in turn, seeks cash by hawking their mercenaries around Africa.

In some African nations burdened by civil war, poverty and a weak state, Russia has offered a 21st century version of a Faustian pact. The essential bargain is that Wagner mercenaries will keep the government of that country in power, provided that it signs over to Russia, or to Russian individuals, privileged rights to its people’s mineral wealth.

The leaders of the Central African Republic were the first to strike this deal, followed by the military regime in Mali, and others – perhaps the contenders for power in Sudan or the new rulers of Burkina Faso – may be next.

But now they’ve had to watch the very mercenaries who they are supposed to trust turning against their ultimate patron, Vladimir Putin, and bearing down on Moscow. If Russian mercenaries can betray Putin, who else might they betray? If they can advance on Moscow, what other capitals might they threaten?

And what if Prigozhin was right, when he said this about Russia’s policy in Africa:

“We were told that Africa was needed, and after that, it was abandoned because all the money that was intended for aid was stolen.”

The truth is that Russia has no interest in peace or stability in African countries; on the contrary, its strategy for influence requires active conflicts and weak states, which the Kremlin views as targets to be controlled and exploited, in a new Russian imperialism.

Yet for all the immediate challenges posed by Putin’s aggression, Russia is not the single most important strategic focus of my service.

We now devote more resources to China than anywhere else, reflecting China’s increasing global significance. As the Foreign Secretary said in April, Britain will robustly defend our national security and values, but at the same time it’s absolutely necessary to engage with China, for the simple reason that not a single international problem of any importance can be addressed if we do not.

We have watched China steadily expand its influence in contested spaces by offering countries ambitious deals that look too good to be true - and frequently turn out to be exactly that.

For example, control of data is vital for national sovereignty: governments have a duty to safeguard the data generated by their citizens, and by national projects, whether in health or infrastructure.

If you hand over your data to another state, you risk ensnaring yourself in a “data trap” that will dilute your sovereignty and leave you vulnerable.

When China was selling Covid vaccines around the world, it often ensured that recipient countries would have to share their vaccination data-sets with Beijing.

That is exactly the kind of condition in any deal which should ring alarm bells.

Authoritarian regimes try to hide their intentions in contested spaces within a blizzard of propaganda and disinformation.

They are increasingly doing this with the aid of Artificial Intelligence, which is opening up vast new terrains for fake news, blurring the distinction between fantasy and reality.

This brings me back to the core business of my service: in a world ever more awash with disinformation and fakery, the premium on discovering the truth with accurate verified reporting from human agents and technical operations will be even greater.

AI is going to make information infinitely more accessible and some have asked whether it will put intelligence services like mine out of business? In fact, the opposite is likely to be true.

As AI trawls the ocean of open source, there will be even greater value in landing, with a well-cast fly, the secrets that lie beyond the reach of its nets.

The unique characteristics of human agents in the right places will become still more significant. They are never just passive collectors of information: our agents can be tasked and directed; they can identify new questions we didn’t know to ask; and sometimes they can influence decisions inside a government or terrorist group.

Human intelligence in the age of Artificial Intelligence will increasingly be defined as those things that machines cannot do, albeit we should expect the frontiers of machine capability to advance with startling speed.

My teams are now using AI to augment – but not replace – their own judgement about how people might act in various situations. They are combining their skills with AI and bulk data to identify and disrupt the flow of weapons to Russia for use against Ukraine.

In future, as AI begins to overtake some aspects of human cognition, it’s possible that digital tools may come to understand – or rather, to be able to predict – human behaviour better than humans can.

But there will always be an extraordinary bond that allows one person genuinely to confide in another, united by a sense of common humanity and purpose, the essence of the human factor.

However swift and all-encompassing the advance of AI, some relationships are going to stay uniquely, stubbornly human, and those relationships are at the heart of my service, because my agency is dedicated to preserving human agency.

So what we do is going to remain vital, but how we do it must continually adapt, to harness AI’s burgeoning opportunities and counter its threats.

I expect that we will increasingly be tasked with obtaining intelligence on how hostile states are using AI in damaging, reckless and unethical ways.

I know that we can only protect our citizens if we understand the essence of the threat, while embracing AI’s undoubted potential for good.

So let me say with clarity and conviction: my service, together with our allies, intends to win the race to master the ethical and safe use of AI.

It’s true that other countries have inherent advantages, which we will never be able to match - or would never wish to.

China benefits from sheer scale: AI, in its current form, requires colossal volumes of data; the more data you have, the more rapidly you can teach machine-learning tools. China has added to its immense data-sets at home by hoovering up others abroad.

And the Chinese authorities are not hugely troubled by questions of personal privacy or individual data security. They are focused on controlling information and preventing inconvenient truths from being revealed.

But speaking for the United Kingdom Intelligence Community, we have advantages too: our people, inspired by their mission; our values, entrepreneurial and democratic; our technology, ingenious and leading edge; our partnerships, based on friendship not transactions; all combining to maximise our creativity.

We cannot, in all honesty, be sure where the advance of AI will take us, but we can strike out in a spirit of optimism with a willingness to cooperate. And I remain hopeful that our common humanity and our shared interest in understanding the power of AI, may yet lead to agreement on global coordination, on which our Prime Minister, Rishi Sunak, is leading the way.

China’s draft AI regulations emphasise the importance of veracity, accuracy, objectivity and diversity. I can only say: we agree. Let’s make those fine words a reality not a slogan.

For our part, SIS is fortunate to serve a country with a greater concentration of tech companies, world-class universities and research centres than anywhere else in Europe. And this is where all free societies - and the agencies that protect them – enjoy the biggest inherent advantage of all.

Through openness, debate and the dynamic exchange of ideas, we excel at liberating the talents of our people, because as John Stuart Mill said:

“Genius can only breathe freely in an atmosphere of freedom.”

The Czech people showed 55 years ago that nothing can ever suppress humanity and freedom, which together bestow a unique competitive edge and our duty is to make the most of it.

-------

We’re #secretlyjustlikeyou

Members of the public who wish to contact SIS with a general enquiry may do so via PO Box 1300, London SE1 1BD.

Maybe you are right for the service? SIS | Intelligence Officers

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air101blog · 9 months

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Pilot dies in light aircraft crash in Nottinghamshire https://ift.tt/7f4bgwC

Nottinghamshire Fire and Rescue Service were called to a field serious incident in fields east of Darlton Airfield, near Retford, Nottinghamshire at 12:23 on Wednesday after reports of a plane crashing.

The single-engine light aircraft came down shortly after midday and was being flown by a single pilot said to be in his 70s who the local police confirm had died at the scene. Nottinghamshire Police said the pilot's family was being supported by specially trained police officers.

The Air Accidents Investigation Branch - AAIB said it has launched an investigation into a fatal accident involving a single-engine light aircraft which occurred on 26 July 2023. "A team of inspectors arrived on site early in the evening of that day to gather evidence and begin an investigation." they advised.

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air101blog · 9 months

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United becomes the first U.S. airline to add braille to aircraft cabin interiors https://ift.tt/mW1beDE

The U.S. mega-carrier, United today became the first U.S. airline to add Braille to aircraft interiors, helping millions of travellers with visual disabilities more easily navigate the cabin independently. According to the Department of Transportation, about 27 million people with disabilities travelled by air in 2019.

The airline currently has equipped about a dozen aircraft with Braille markings for individual rows and seat numbers as well as inside and outside the lavatories. United expects to outfit its entire mainline fleet with Braille by the end of 2026.

"Finding your seat on a plane or getting to the restroom is something most of us take for granted, but for millions of our customers, it can be a challenge to do independently," said Linda Jojo, Executive Vice President, Chief Customer Officer for United. "By adding more tactile signage throughout our interiors, we're making the flying experience more inclusive and accessible, and that's good for everyone."

In addition to adding Braille, United is working with the National Federation of the Blind (NFB), the American Council of the Blind (ACB) and other disability advocacy groups to explore the use of other tactile navigational aids throughout the cabin such as raised letters, numbers and arrows.

"We applaud United for taking an important step toward making its aircraft more accessible to blind passengers," said NFB President Mark Riccobono. "The flight experience is often frustrating for a number of reasons, one of which is the amount of information that is available exclusively through printed signs and other visual indicators. We hope to continue working with United to explore additional ways to make flying more accessible and less stressful for blind passengers."

For the eighth-straight year, United was recognized as a Best Place to Work for Disability Inclusion and earned a top score on the Disability Equality Index benchmarking tool, a joint initiative of the American Association of People with Disabilities and Disability:IN, to advance the inclusion of people with disabilities.

"United is taking additional steps to create an accessible airline passenger experience through braille signage," said ACB Interim Executive Director Dan Spoone. "We appreciate the airline's continued exploration of additional in-flight navigational aids like large print and tactile indicators, and we encourage all airlines to follow United's lead in making air travel more inclusive for the blind and low vision community."

The rollout of Braille to mainline aircraft over the next few years is the latest way United has worked to create accessible solutions for its customers and employees:

The United mobile app was recently redesigned to make it easier to use for people with visual disabilities with increased color contrast, more space between graphics and reordering how information is displayed and announced to better integrate with the screen reader technologies like VoiceOver and TalkBack.

United's Inflight Seatback Entertainment screens offer a wide range of accessible features such as closed captioning, text-to-speech controls, magnification, explore-by-touch capabilities, audio-described movies, and adjustable and high-contrast text and color correction. As part of United Next, the airline's historic growth plan, the carrier expects to take delivery of about 700 new narrow and widebody aircraft by the end of 2032, all of which will include the latest in seatback screen entertainment options.

Through Bridge, United's Business Resource Group for people of all abilities, employees help create a workplace environment where all can strive to achieve their maximum potential and support our commitment to being an ally for customers with disabilities.

United's long-standing partnership with Special Olympics provides employment opportunities to athletes through the Special Olympics Service Ambassador program, a workforce development initiative that provides a forum to work alongside Airport Operations and Customer Service teams to assist customers. The airline also supports Special Olympics through volunteerism, fundraising and travel support to attend national and international competitions.

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air101blog · 9 months

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Wisk Aero celebrates the first-ever public demonstration flight at EAA AirVenture https://ift.tt/KdBI76H

The Boeing subsidiary firm Wisk Aero has successfully completed the world’s first public demonstration flight of a fully autonomous, electric vertical takeoff and landing (eVTOL), fixed-wing air taxi!

This milestone flight took place at EAA AirVenture, which also marked the company’s first public demonstration of its 5th Generation autonomous, eVTOL technology demonstrator (Cora). Wisk completed a multi-transition flight, during which the air taxi transitioned from hover to wing-borne flight four times. The flight also included multiple manoeuvres that demonstrated the unique capabilities of the aircraft, such as hover, 360-degree turns in place, and more. Video footage of the flight can be found on Wisk’s YouTube channel.

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“We’re proud to demonstrate the autonomous technology behind our self-flying first approach,” said Brian Yutko, CEO of Wisk. “This demonstration showcases the state of readiness for autonomous technology and electric propulsion. Combined with the progress we’re making on Type Certification for our 6th Generation air taxi, we’re proving that autonomy is possible and it’s happening today. We look forward to launching the first passenger service on an all-electric, autonomous air taxi within this decade.”

“We are thrilled to be able to share 13+ years of aviation milestones and now another first with the public. Oshkosh is a particularly fitting milestone venue as it embodies the spirit of passion and innovation at Wisk. We’ve shared something that is really special. For the first time, we have publicly demonstrated fully autonomous flight, conducted by an all-electric, fly-by-wire, vertical takeoff and landing aircraft. There was no pilot on board, no pilot controls in the aircraft, and no stick-and-rudder on the ground. The entire flight was operated with the push of a button,” said Jim Tighe, Chief Technology Officer at Wisk.

Wisk’s public demonstration flight adds to the company’s history of aviation firsts, including the world’s first full transition of an eVTOL aircraft (1st Generation air taxi), the world’s first piloted flight of a fly-by-wire, all-electric, human-rated aircraft (2nd Generation air taxi, 2015), and the world’s first piloted full transition flight of a human-rated eVTOL aircraft (3rd Generation air taxi, 2017).

Learn more about Autonomous Flight with Human Oversight and Wisk’s Self-Flying First Approach.

Wisk is an advanced air mobility (AAM) company dedicated to delivering safe, everyday flight for everyone. Wisk’s self-flying, eVTOL (electric vertical takeoff and landing) air taxi will make it possible for passengers to skip the traffic and get to their destination faster. Wisk is a fully-owned Boeing subsidiary that operates separately from Boeing and is headquartered in the San Francisco Bay Area, with locations around the world. With over a decade of experience and over 1600 test flights, Wisk is shaping the future of daily commutes and urban travel, safely and sustainably.

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air101blog · 9 months

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US-Bangla Airlines to lease two Airbus A330-300s from Avolon https://ift.tt/B538vOP

Avolon, the international aircraft leasing company, has added US-Bangla Airlines as a new customer, with an agreement to lease the Bangladeshi carrier two Airbus A330-300 aircraft.

These will be the first widebody aircraft operated by US Bangla, adding another carrier to the A330 fleet. The new deliveries will help to support US Bangla’s passenger growth and expansion plans on medium-haul routes such as Jeddah, Riyadh, Dammam, Bahrain, and Kuwait. The aircraft are scheduled for delivery in September 2023.

US Bangla launched in 2014 and is Bangladesh’s largest privately owned carrier.

Paul Geaney, President and Chief Commercial Officer, Avolon commented: “We welcome this lease agreement with US-Bangla for two of our Airbus A330s. We are delighted to add a new customer to the A330 programme, offering widebody capability to US-Bangla’s fleet which will help support its route expansion in the Middle East. We look forward to building further on this partnership in the future.”

Mohammed Abdullah Al Mamun, Managing Director, US-Bangla Airlines Ltd. commented: “US-Bangla Airlines has ambitious growth plans for its international operations, and we appreciate the support of a leading lessor like Avolon. This is our first widebody aircraft and represents our aspirations to position US-Bangla Airlines as an airline of choice for travel to medium haul routes. We look forward to deploying our new A330s into service providing premium flight experience at the most reasonable costs to our esteemed passengers travelling for Hajj, Umrah and business.”

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air101blog · 9 months

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A fifth of easyJet's fleet is now new-technology A320neo Family aircraft https://ift.tt/eGaVhp6

easyJet’s fleet now consists of more new-technology, more fuel efficient “NEO” - aircraft than ever before – as the operator took delivery of its 67th A320neo Family aircraft this month.

As the airline continues its fleet renewal programme, an integral part of its roadmap to net zero, older Airbus A320ceo Family aircraft will be phased out over time and replaced by new-technology aircraft, which are at least 15% more fuel efficient and see up to 50% noise reduction upon taxiing, take-off and landing.

Based on current delivery plans, A320neo Family aircraft will 25% of its overall fleet by October of next year. easyJet has - 19 A320neo Family deliveries expected by the end of 2024 and a further 27 in 2025.

easyJet has taken delivery of its 67th A320neo Family aircraft this month; making over 20% of the easyJet fleet NEO-technology

A320neo Family aircraft use around 15% less fuel than their equivalent predecessors, and have up to 50% noise reduction at take-off, landing and whilst taxiing

easyJet has an orderbook for a further 164 A320neo Family aircraft, in addition to the 67 already delivered

By October 2024, the fleet is expected to pass 25% new-technology aircraft

David Morgan, Chief Operating Officer at easyJet commented: “The adoption of more efficient technology is the single biggest contributor to reducing emissions in the short term and the roll-out of new neo aircraft is a key part of this.

We are also continuously looking at our operation each and every day to drive efficiencies which has been demonstrated with the addition of Descent Profile Optimisation (DPO) and Continuous Descent Approach (CDA) – a state of software from Airbus that is being retrofitted on all our aircraft. The two technologies will respectively enable fuel-saving enhancement to the aircraft’s on-board Flight Management System (FMS) and reduce noise impact on the ground.”

Wouter Van Wersch, Airbus President Europe Region & Sales, added: “As we continue to fulfil easyJet's orders, each A320neo delivery future-proofs the airline's growth as traffic rebounds. Airbus is delighted that the A320neo family aircraft, together with our strong service offering, is laying the foundation of easyJet's decarbonisation journey which is already well underway.”

easyJet is the world’s largest operator of Airbus’ single-aisle aircraft with over 300 planes currently in service, including the A319, A320ceo, A320neo and A321neo. The airline serves over 130 European airports in some 31 countries operating over 1,000 routes.

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air101blog · 9 months

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Airshare continues growth plans with commitment. https://ift.tt/AL4svGb

Bombardier has confirmed that Kansas City-based Airshare has committed to ordering up to 20 additional Challenger 3500 aircraft for its fractional ownership fleet. This new agreement will double the size of their Challenger fleet.

In May 2021, Airshare entered the super-midsize segment with an order for up to 20 Challenger aircraft. As the fast-growing private aviation company moves to exercise all options as part of that original order, this new incremental commitment to Challenger 3500 jets underscores that the smooth, efficient and reliable customer experience that private aviation provides continues to garner significant market interest among the travelling public.

“The response we have received to the Challenger entering our fractional program has been tremendous, from both new and existing customers,” said John Owen, President and Chief Executive Officer of Airshare. “We are thrilled to extend our commitment with Bombardier and look forward to adding several more Challenger 3500s to our fleet. The strength of our partnership made it easy for us to accelerate our plans to order more of these aircraft to meet customer demand.”

“The entire team is immensely proud that Airshare continues to trust Bombardier to grow its fleet,” said Eric Martel, President and Chief Executive Officer, Bombardier. “Airshare and Bombardier share several values in common: we strive for excellence and work tirelessly to offer an exceptional experience to our clients. With this new order, our valued relationship continues to grow stronger, as the award-winning Challenger 3500 aircraft keeps elevating Airshare’s flight experience with its ultimate combination of performance and comfort.”

Airshare’s fractional program provides each owner of a 1/16th share with 20 days and unlimited flight time (based on a customer’s allocation of days with a maximum 14-hour crew duty day). When Airshare shareowners begin and end in the same location, while keeping the aircraft and crew with them when they need it, they save up to 25 per cent off their hourly rate. Having the pilots and aircraft stay with shareowners as they travel provides the ultimate in flexibility as they are able to visit multiple locations and adjust their schedules at a moment’s notice. Airshare also offers its own jet card program, EMBARK, as well as aircraft management, on-demand charter and maintenance services. 

Built on the iconic Challenger super mid-size platform, the Challenger 3500 aircraft offers unrivalled comfort and reliability, while boasting top performance and delivering Bombardier’s signature smooth ride. The latest addition to Bombardier’s portfolio elevates the passengers’ experience by integrating many of the features from Bombardier’s Global family of aircraft, including Bombardier’s exclusive and revolutionary Nuage seat. Passengers can also benefit from the ultimate cabin experience, where technology and design come together to maximize productivity while offering a refined and relaxing environment.  

The Challenger 3500 aircraft is also the most sustainably designed business jet in its class. It is the first business jet in the super mid-size segment to have an Environmental Product Declaration published, documenting the aircraft’s environmental footprint over its lifecycle.  

The Challenger aircraft family is known for its industry-leading reliability and safety. With over 900 business jets of the Challenger 300 series in service worldwide, the Challenger 3500 aircraft builds on the excellent track record of the Challenger family and boasts an impressive 99.8% dispatch reliability.  

[1]The agreement includes a firm order for 4 Challenger 3500 aircraft and an option for 16 additional Challenger 3500 business jets.

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air101blog · 9 months

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Airbus reports revenues of € 27.7 billion in the first half of the year https://ift.tt/1zq7uNs

Airbus reports Half-Year (H1) 2023 results

316 commercial aircraft delivered in H1 2023

Revenues € 27.7 billion; EBIT Adjusted € 2.6 billion

EBIT (reported) € 1.9 billion; EPS (reported) € 1.94

Free cash flow before M&A and customer financing € 1.6 billion

Guidance maintained

Airbus has reported its consolidated financial results for the Half-Year (H1) ended 30 June 2023.

“During the first half of 2023 we progressed well across our businesses in an operational environment that remains complex. Our commercial aircraft are in strong demand, as demonstrated by more than 800 orders announced at the Paris Air Show. This demand is driven both by growth and fleet replacement as airlines invest in more fuel efficient fleets,” said Guillaume Faury, Airbus Chief Executive Officer. “Based on this H1 performance, we maintain our 2023 guidance.”

Gross commercial aircraft orders totalled 1,080 (H1 2022: 442 aircraft) with net orders of 1,044 aircraft after cancellations (H1 2022: 259 aircraft). The order backlog amounted to a record 7,967 commercial aircraft at the end of June 2023. Airbus Helicopters registered 131 net orders (H1 2022: 163 units) which were well spread across programmes and included 19 H160s. Airbus Defence and Space’s order intake by value was € 6.0 billion (H1 2022: € 6.5 billion), including 4 new-build and 5 converted A330 Multi Role Tanker Transport aircraft for Canada.

Consolidated revenues increased 11 percent year-on-year to € 27.7 billion (H1 2022: € 24.8 billion). A total of 316 commercial aircraft were delivered (H1 2022: 297(1)(2) aircraft), comprising 25 A220s, 256 A320 Family, 14 A330s and 21 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 16 percent, mainly reflecting the higher number of deliveries. Airbus Helicopters’ deliveries increased to 145 units (H1 2022: 115 units), mainly driven by the Light helicopter segment. The Division’s revenues rose 16 percent, mainly reflecting a solid performance across programmes and services. Revenues at Airbus Defence and Space decreased 8 percent, mainly driven by delays in Space Systems and delivery phasing in Military Air Systems. Three A400M military airlifters were delivered in H1 2023.

Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – was € 2,618 million (H1 2022: € 2,645 million).

EBIT Adjusted related to Airbus’ commercial aircraft activities was broadly stable at € 2,256 million (H1 2022: € 2,276 million). The positive effect from the increase in deliveries, supported by a more favourable hedge rate, was partially reduced by investments for preparing the future. H1 2022 included the non-recurring positive impact from retirement obligations partly offset by the impact resulting from international sanctions against Russia. In H1 2023, further progress was made on compliance related topics which allowed provisions to be released.

The ramp-up on the A220 programme is continuing towards a monthly production rate of 14 aircraft in the middle of the decade. On the A320 Family programme, production is progressing well towards the previously announced rate of 75 aircraft per month in 2026. Tactical adjustments to production planning will continue to be made as required to meet this target rate, which is now the key reference point for the Company and the supply chain. The recent inauguration of a new A321 capable final assembly line in Toulouse is the latest concrete milestone in the development of Airbus’ global industrial system. On the A321XLR, the flight test programme is progressing towards the expected entry-into-service in Q2 2024.

On widebody aircraft, the Company continues to target rate 4 for the A330 in 2024 and rate 9 for the A350 at the end of 2025.

Airbus Helicopters’ EBIT Adjusted increased to € 274 million (H1 2022: € 215 million), reflecting the solid performance across programmes and services. H1 2022 also included net positive non-recurring elements.

EBIT Adjusted at Airbus Defence and Space decreased to € 78 million (H1 2022: € 155 million), mainly reflecting the decrease in revenues as well as updated assumptions on some long-term contracts, consistent with the difficult environment of the Division's Space business. H1 2022 also included net positive non-recurring elements.

On the A400M programme, development activities continue towards achieving the revised capability roadmap. Retrofit activities are progressing in close alignment with the customer. No further net material impact was recognised in the first half of 2023. Risks remain on the qualification of technical capabilities and associated costs, on aircraft operational reliability, on cost reductions and on securing overall volume as per the revised baseline.

Consolidated self-financed R&D expenses totalled € 1,431 million (H1 2022: € 1,256 million).

Consolidated EBIT (reported) amounted to € 1,887 million (H1 2022: € 2,579 million), including net Adjustments of € -731 million.

These Adjustments comprised:

€ -651 million related to the dollar pre-delivery payment mismatch and balance sheet revaluation, of which € -291 million were in Q2. This is mainly linked to the phasing impact arising from the difference between transaction date and delivery date;

€ -34 million related to the Aerostructures transformation, of which € -25 million were in Q2;

€ -46 million of other costs including compliance, of which € -32 million were in Q2.

The financial result was € 102 million (H1 2022: € 107 million). It mainly reflects a positive impact from the revaluation of certain equity investments, partly offset by the net interest result and negative impacts from the revaluation of financial instruments. Consolidated net income(3) was € 1,526 million (H1 2022: € 1,901 million) with consolidated reported earnings per share of € 1.94 (H1 2022: € 2.42).

Consolidated free cash flow before M&A and customer financing was € 1,574 million (H1 2022: € 1,955 million), reflecting progress on deliveries as well as an increase in inventory linked to the ongoing ramp-up across programmes. It also includes a favourable timing of receipts and payments.

Consolidated free cash flow was € 1,474 million (H1 2022: € 1,646 million). The gross cash position stood at € 22.9 billion at the end of June 2023 (year-end 2022: € 23.6 billion), with a consolidated net cash position of € 9.1 billion (year-end 2022: € 9.4 billion).

Outlook

The guidance issued in February 2023 is maintained.

As the basis for its 2023 guidance, the Company assumes no additional disruptions to the world economy, air traffic, the supply chain, the Company’s internal operations, and its ability to deliver products and services.

The Company’s 2023 guidance is before M&A.

On that basis, the Company targets to achieve in 2023 around:

720 commercial aircraft deliveries;

EBIT Adjusted of € 6.0 billion;

Free Cash Flow before M&A and Customer Financing of € 3.0 billion.

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air101blog · 9 months

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These are the worst companies for GDPR violations. https://ift.tt/jKVyUAz

These are the worst companies for GDPR violations

Research from digital identity security specialists, ID Crypt Global, reveals which brands are being most careless with our personal data and have therefore been issued the biggest GDPR fines since records began.

ID Crypt has analysed fines issued to companies for breaching General Data Protection Regulation (GDPR) laws, to see which brands have been the worst offenders in the UK and Europe since the regulations began.

GDPR, introduced in 2018, is a regulation in EU law concerning digital protection and privacy. It governs the way in which businesses can collect, process, store, and use personal data such as names, addresses, browser history, finances, etc.

If companies fail to oblige by the rules set out under GDPR, they can be fined. The more significant the breach, the more severe the fine.

The analysis by ID Crypt shows that since GDPR’s introduction, the average (mean) fine issued sits at €2.2 million, but the largest single fine ever issued was a remarkable €1.2 billion.

This fine was issued to Meta Platforms Ireland Ltd, Facebook’s parent company in Europe, for what is described as ‘Insufficient legal basis for data processing’.

In fact, Meta, or its subsidiaries of Facebook and WhatsApp, has received six of the ten largest GDPR fines ever issued across the whole of Europe, fines that combine to a total of around €2.5 billion.

As for the UK, the largest GDPR fine in UK history was a €22 million penalty issued to British Airways for what was deemed to be ‘insufficient technical and organisational measures to ensure information security’.

The other worst offenders in the UK are Marriott International, Inc (€20.5m), TikTok (€14.5m), and Clearview Al Inc. (€9m).

CEO and Founder of ID Crypt Global, Lauren Wilson-Smith, commented: “Personal data is incredibly sensitive and powerful. It combines to form our digital identity which we are all increasingly reliant on when it comes to navigating our way in a digital-first society.

It’s disappointing to say the least that such a wide range of brands, including some of the most powerful companies in the world, are playing hard and fast with the rules and, in doing so, failing to provide their loyal customers with the personal security they’re entitled to.

As we move forward, one has to hope we see a dramatic drop in the number of GDPR breaches and their severity. Any period of adjustment or acclimatisation that businesses in Europe have been going through is now well and truly over.”

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air101blog · 9 months

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The second quarter performance of Hawaiian Airlines. https://ift.tt/wORI6jn

This week Hawaiian Holdings, the parent company of Hawaiian Airlines published its financial results for the second quarter of 2023. The carrier witnessed a rapid increase in bookings from people in Japan as well as across the route network.

Leisure demand remains historically high the carrier reports, its North America load factor was 90.4% - the highest second-quarter load factor since 2017. Neighbour Island services load factor of 75.3% which is the highest for the quarter since 2015. International load factor saw a positive increase and international revenue increased 160.2% from the second quarter of 2022 on a 141.4% increase in capacity

Hawaiian Airlines President and CEO Peter Ingram said: "Demand remains strong throughout our network, and we have recently seen a significant increase in bookings by travellers in Japan, an important geography that has trailed in the recovery of the overall market. Against the backdrop of improving operations and robust demand, I am excited about the major initiatives we're on track to deliver in the second half of the year."

The second quarter also saw the airline complete the transition of A330 aircraft maintenance from an outside company to an internal self-managed maintenance operation, which the carrier hopes will save money, be more effective and allow it to have greater control.

Another development regarding aircraft was the unveiling of Hawaiian's Boeing 787 Dreamliner cabin design and a new business class product, the Leihōkū suites. These 34 seats feature flat beds, privacy doors and shared double suites and will immerse all guests in cabin design elements that evoke Hawaiʻi's rich natural world through bold textures, island-inspired sunrise and sunset lighting and sinuous ocean and wind patterns. These aircraft are expected to enter service during 2024.

During the second quarter of 2023, Hawaiian Airlines completed the sale of one ATR-42 aircraft with a loss of approximately $0 .4 million. During the three months ended June 30, 2022, the airline sold three ATR-72 aircraft and recorded a $2.6 million gain on the sale of aircraft.

In terms of routes, the key two developments during the quarter were resumed service between Honolulu and Fukuoka, Japan on 28th April with a service running three time a week. And, starting a weekly service to Rarotonga on 20th May, greatly expanding travel opportunities between Hawaiian's 15 gateways on the US Mainland and the Cook Islands.

Hawaiian Holdings, Inc. Consolidated Statements of Operations (unaudited)

Three Months Ended June 30,

Six months ended June 30,

2023

2022

% Change

2023

2022

% Change

(in thousands, except per share data)

Operating Revenue:

Passenger

$ 644,992

$ 617,463

4.5 %

$ 1,193,518

$ 1,021,492

16.8 %

Other

61,936

74,402

(16.8) %

126,013

147,587

(14.6) %

Total

706,928

691,865

2.2 %

1,319,531

1,169,079

12.9 %

Operating Expenses:

Wages and benefits

237,680

205,686

15.6 %

479,613

408,785

17.3 %

Aircraft fuel, including taxes and delivery

166,380

226,892

(26.7) %

364,005

377,874

(3.7) %

Maintenance, materials and repairs

53,657

55,967

(4.1) %

103,943

111,617

(6.9) %

Aircraft and passenger servicing

43,126

35,631

21.0 %

85,658

69,446

23.3 %

Depreciation and amortization

33,348

34,333

(2.9) %

66,015

68,088

(3.0) %

Commissions and other selling

28,391

28,615

(0.8) %

56,630

49,262

15.0 %

Aircraft rent

26,159

25,790

1.4 %

54,330

52,066

4.3 %

Other rentals and landing fees

41,487

37,041

12.0 %

80,207

71,652

11.9 %

Purchased services

37,181

33,757

10.1 %

72,254

64,444

12.1 %

Other

49,099

34,242

43.4 %

83,884

69,739

20.3 %

Total

716,508

717,954

(0.2) %

1,446,539

1,342,973

7.7 %

Operating Loss

(9,580)

(26,089)

(63.3) %

(127,008)

(173,894)

(27.0) %

Nonoperating Income (Expense):

Interest expense and amortization of debt discounts and issuance costs

(22,705)

(24,517)

(45,585)

(49,554)

Interest income

13,539

6,562

30,004

10,996

Capitalized interest

1,945

1,060

3,404

2,112

Losses on fuel derivatives

(3,658)

—

(8,724)

—

Loss on extinguishment of debt

—

(8,568)

—

(8,568)

Other components of net periodic benefit cost

(1,707)

1,274

(3,201)

2,560

Losses on investments, net

(3,549)

(22,127)

(2,852)

(34,491)

Gains on foreign debt

12,174

20,556

14,434

32,318

Other, net

(920)

(2,005)

(764)

(1,631)

Total

(4,881)

(27,765)

(13,284)

(46,258)

Loss Before Income Taxes

(14,461)

(53,854)

(140,292)

(220,152)

Income tax benefit

(2,126)

(6,480)

(29,700)

(39,500)

Net Loss

$ (12,335)

$ (47,374)

$ (110,592)

$ (180,652)

Net Loss Per Share

�� Basic

$ (0.24)

$ (0.92)

$ (2.15)

$ (3.52)

Diluted

$ (0.24)

$ (0.92)

$ (2.15)

$ (3.52)

Weighted Average Number of Common Stock Shares Outstanding:

Basic

51,587

51,356

51,547

51,322

Diluted

51,587

51,356

51,547

51,322

Hawaiian Holdings, Inc.

Selected Consolidated Statistical Data (unaudited)

Three months ended June 30,

Six months ended June 30,

2023

2022

% Change

2023

2022

% Change

(in thousands, except as otherwise indicated)

Scheduled Operations:

Revenue passengers flown

2,801

2,576

8.7 %

5,394

4,606

17.1 %

Revenue passenger miles (RPM)

4,346,815

3,862,507

12.5 %

8,190,876

6,836,857

19.8 %

Available seat miles (ASM)

5,014,251

4,505,285

11.3 %

9,928,870

8,747,768

13.5 %

Passenger revenue per RPM (Yield)

14.84 ¢

15.99 ¢

(7.2) %

14.57 ¢

14.94 ¢

(2.5) %

Passenger load factor (RPM/ASM)

86.7 %

85.7 %

1.0 pts.

82.5 %

78.2 %

4.3 pts.

Passenger revenue per ASM (PRASM)

12.86 ¢

13.71 ¢

(6.2) %

12.02 ¢

11.68 ¢

2.9 %

Total Operations:

Revenue passengers flown

2,802

2,584

8.4 %

5,395

4,620

16.8 %

Revenue passenger miles (RPM)

4,346,953

3,870,586

12.3 %

8,192,931

6,858,150

19.5 %

Available seat miles (ASM)

5,014,432

4,516,296

11.0 %

9,931,949

8,779,344

13.1 %

Operating revenue per ASM (RASM)

14.10 ¢

15.32 ¢

(8.0) %

13.29 ¢

13.32 ¢

(0.2) %

Operating cost per ASM (CASM)

14.29 ¢

15.90 ¢

(10.1) %

14.56 ¢

15.30 ¢

(4.8) %

CASM excluding aircraft fuel and non- recurring items (a)

11.08 ¢

10.87 ¢

1.9 %

11.06 ¢

10.97 ¢

0.8 %

Aircraft fuel expense per ASM (b)

3.32 ¢

5.03 ¢

(34.0) %

3.66 ¢

4.31 ¢

(15.1) %

Revenue block hours operated

52,228

47,477

10.0 %

143,646

92,360

55.5 %

Gallons of jet fuel consumed

66,360

57,494

15.4 %

131,214

110,911

18.3 %

Average cost per gallon of jet fuel (actual) (b)

$2.51

$3.95

(36.5) %

$2.77

$3.41

(18.8) %

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air101blog · 9 months

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WestJet's growth plan takes flight: airline celebrates year-round connectivity between Moncton and Calgary https://ift.tt/S0VvAJ6

Yesterday one of the leading airlines in Canada, WestJet, was joined by political leaders and key stakeholders from across New Brunswick to celebrate the airline's winter schedule, which extends a key domestic route from summer to year-round service. Building on the exceptional demand and success of its summer service between Moncton and Calgary, the airline will continue to offer two flights per week now on a year-round basis.

WestJet's newest investment in Moncton was celebrated today at a special event held in downtown Moncton alongside notable partners including, Courtney Burns, President of the Greater Moncton International Airport Authority, Inc, John Wishart, CEO of the Chamber of Commerce for Greater Moncton (CCGM) and Yvon LaPierre, Mayor of Dieppe.

"We are thrilled with WestJet's announcement to continue its non-stop direct service between Calgary and Greater Moncton year-round." Said Courtney Burns, President of the Greater Moncton International Airport Authority, Inc. "Two non-stop direct flights per week on Tuesdays and Thursdays will allow both business and leisure travellers to conveniently experience what each amazing destination has to offer."

Route

Frequency

Days of Week

Calgary – Moncton

2x weekly

Tuesday, Thursday

Moncton – Calgary

2x weekly

Tuesday, Thursday

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air101blog · 9 months

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United's sustainable flight fund grows to nearly $200 million and adds strategic partners.... https://ift.tt/z8WmS20

In just five months, the United Airlines Ventures Sustainable Flight Fund SM increased in size to nearly $200 million and welcomes American Express Global Business Travel, Aramco Ventures, Aviation Capital Group, Bank of America, Boston Consulting Group, Groupe ADP, Hawaiian Airlines, and JetBlue Ventures

Fund was launched in February to rally businesses and consumers to support the supply of sustainable aviation fuel (SAF) - more than 60,000 customers have contributed

The United Airlines Ventures Sustainable Flight Fund – a way for companies and consumers to come together and increase the supply of sustainable aviation fuel (SAF) through the support of start-ups - has increased its investment power to nearly $200 million and added eight new corporate partners, five months after its initial launch.

United plane fueled with SAF.

American Express Global Business Travel, Aramco Ventures, Aviation Capital Group, Bank of America, Boston Consulting Group, Groupe ADP, Hawaiian Airlines and JetBlue Ventures, will join inaugural fund partners Air Canada, Boeing, GE Aerospace, JPMorgan Chase, and Honeywell.

United customers also have the option to contribute to supplement the airline's investment in the UAV Sustainable Flight FundSM when they book flights. Since the fund launched, more than 60,000 United customers have contributed a total of more than $200,000.

SAF is an alternative to conventional jet fuel that, on a lifecycle basis, reduces greenhouse gas (GHG) emissions associated with air travel compared to conventional jet fuel alone. To date, United has invested in the future production of over five billion gallons of SAF - the most of any airline in the world.1

"While United can't decarbonize the airline industry alone, we can use our leadership and credibility in this space to rally others to join us," said United Airlines Ventures President Michael Leskinen. "Our new and inaugural participants demonstrate the impressive commitment within aviation and beyond to reduce our carbon footprint and combat the threat of climate change. As companies across the globe are increasingly looking for ways to reduce their environmental impact from flying, the UAV Sustainable Flight Fund presents a unique opportunity – instead of fighting over the current limited supply of SAF, with our partners, we're working collaboratively to help scale the SAF industry itself, and to get an equity stake in groundbreaking technology while doing it."

United will continue to recruit corporations across industries to join the fund and will prioritize investment in new technology, advanced fuel sources, and proven producers – all in an effort to help scale the supply of SAF. Partners also have the potential to gain preferential access to environmental attributes associated with United's future supply of SAF.

SAF, which currently must be blended with conventional jet fuel to meet regulatory requirements for use within the aircraft, is being made from used cooking oil and agricultural waste, and, in the future, could be made from other feedstocks including household trash or forest waste. Through the UAV Sustainable Flight Fund, United intends to invest in a variety of SAF feedstocks and technologies. With the right policy incentives to produce SAF, United's efforts could help build a future of sustainable flight.

UAV Sustainable Flight Fund

The UAV Sustainable Flight FundSM launched with more than $100 million in investments from United and its inaugural partners Air Canada, Boeing, GE Aerospace, JPMorgan Chase, and Honeywell. Through the fund, these partners and additional corporate participants will invest alongside United in SAF technology and production start-ups identified by United. In the past two years alone, United Airlines Ventures has already made investments in or signed purchase agreements with companies using a variety of ingredients and technologies to produce SAF, including feedstocks like ethanol, animal byproducts, forestry and crop waste, and municipal waste, as well as early-stage, promising technologies like synthetic biology and power to liquids, incorporating renewable power, hydrogen and carbon capture processes. United Airlines Ventures has moved selected existing SAF investments into the UAV Sustainable Flight FundSM to establish the fund's portfolio.

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