Aviation Technology
PR Newswire | October 05, 2023
Allegiant Travel Company announced financing commitments for seven Airbus A320 and four Boeing 737 MAX aircraft from BNP Paribas, Europe's leading bank, and Jackson Square Aviation (JSA), a leading global commercial aircraft lessor.
The innovative $412M deal combines banking and lessor capital to secure Allegiant's aircraft financing needs into the second quarter 2024, while providing the airline with healthy liquidity at an attractive cost in today's market.
"We are delighted with BNP Paribas and Jackson Square's creativity in providing what we believe is an efficient framework that affords us robust liquidity to support foundational investments in our fleet. This transaction taps into young A320 CEO aircraft and will also serve as the inaugural financing for our Boeing 737 MAX equipment," said Robert Neal, Allegiant's senior vice president and chief financial officer.
Allegiant has drawn down $196 million on September 29, and the remainder will be drawn commensurate with its initial 737 MAX deliveries.
"Our relationship with BNP Paribas, spanning more than a decade, has been instrumental in our growth as an ultra-low-cost leader. We are thrilled to welcome Jackson Square Aviation as a new partner as we make air travel more affordable and accessible to leisure travelers," added Neal.
"We are delighted to provide Allegiant, a long-standing client of the bank, an innovative and first-of-its-kind financing solution which combines bank and lessor capital into one transaction. This transaction allows the airline to maximize value while having more structural flexibility to manage its aircraft fleet versus the more traditional aircraft financing alternatives," said Ankush Chowdhury, managing director & head of transportation banking and capital markets at BNP Paribas. "BNP Paribas is honored to partner with Jackson Square Aviation as we continue to innovate in the world of aviation finance with the goal of providing efficient and thoughtful financing solutions to our aviation clients," added Chowdhury.
"It's a great pleasure to have Allegiant as a new airline customer for Jackson Square Aviation and we're pleased to be working together with a long-standing banking partner, BNP Paribas," said Chris Dailey, president & chief commercial officer of JSA. "Combining the strengths of JSA and BNP Paribas, we're able to provide an efficient financing solution for Allegiant's fleet of in-service Airbus A320s and next generation Boeing 737-8-200s, which we're also excited to introduce as a first into our portfolio," said Dailey.
Allegiant currently operates an all-Airbus fleet comprised of 127 Airbus A319s and A320s.
Allegiant has agreed to purchase up to 130 Boeing 737-7 and 737-8-200 models in a multi-year deal, Boeing's first with an ultra-low-cost carrier in the United States. The new 737 MAX additions will afford the airline flexibility, environmental benefits, and new customer features.
AboutAllegiant – Together We Fly
Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket.
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Aviation Technology
PR Newswire | October 19, 2023
Supernal, Hyundai Motor Group's (HMG) Advanced Air Mobility (AAM) company, Hyundai WIA, a global automotive and aerospace parts manufacturer and Mecaer Aviation Group, an Italy-based global aeronautical company, announced today a partnership to design and manufacture landing gear systems for electric vertical takeoff and landing (eVTOL) vehicles. Hyundai WIA specializes in mass manufacturing and precision machine tools, while Mecaer is experienced in designing and building aerospace-grade landing gear systems. The three partners are collaborating to improve the safety and overall performance of eVTOL vehicles by addressing weight, structural efficiency, energy absorption and electronic system integration in the landing gear design and manufacturing process.
"Our collaboration with Hyundai WIA and Mecaer is a testament to Supernal's commitment to innovation and the highest standards of safety, design and manufacturing for Advanced Air Mobility," said Jaiwon Shin, president of Hyundai Motor Group and CEO of Supernal. "This partnership unites our collective strengths and expertise to deliver aerospace-grade eVTOL landing gear in record time and ensure their scalability and sustainability. These types of automotive and aerospace strategic alliances are key to the growth and success of our emerging industry."
The partnership is critical to Supernal's efforts to pioneer high-scale production processes that will meet future demands of the AAM industry. The collaboration will support the business model—and streamline manufacturing—by incorporating state-of-the-art materials and efficient assembly technologies.
"Hyundai WIA looks forward to leveraging our expertise from the automotive industry in large-scale parts manufacturing for the benefit of Supernal's upcoming eVTOL aircraft," said Jae-Wook Jung, president and CEO of Hyundai WIA. "We foresee significant potential to help demonstrate how cross-industry efficiencies can address enduring supply chain challenges, as well as the potential created by a new category of civil aviation."
"We are especially proud to announce our participation in this industry-leading strategic partnership and to have teamed with Supernal and Hyundai WIA to design, develop and manufacture a fully integrated wheeled landing gear for the Advanced Air Mobility company's eVTOL vehicle," said Bruno Spagnolini, CEO, Mecaer. "We are extremely appreciative of the trust Supernal has shown in the ability of the Mecaer and Hyundai WIA team to produce and innovate its landing gear system."
Supernal, Hyundai WIA and Mecaer held a signing ceremony for the partnership at the Seoul Air Show on October 18.
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Aviation Technology
PR Newswire | October 25, 2023
Garmin announced its latest aviator smartwatch – the D2™ Mach 1 Pro. Featuring a large AMOLED touchscreen display, up to 25 days of battery life1, an LED flashlight and more – D2 Mach 1 Pro is designed for the most demanding pilot lifestyles, including those who fly professionally. Sporting classic pilot watch styling and premium materials like sapphire and titanium, the D2 Mach 1 Pro is ready to be worn both in and out of the cockpit. With extensive aviation, health, fitness and smartwatch features – D2 Mach 1 Pro redefines what pilots should expect from their smartwatch.
"This year marks 10 years of the D2 series – a smartwatch line that pilots have relied on to combine aviation tools with the latest smartwatch technology. The D2 Mach 1 Pro provides an extensive set of advanced capabilities that pilots use every day, all while touting battery life that can withstand even the long-haul commercial pilot trips. Features like the LED flashlight and large AMOLED display, combined with the high-end materials, make this the most premium-built D2 smartwatch yet." –Carl Wolf, Garmin Vice President of Aviation Sales and Marketing
New features pilots will love
A built-in LED flashlight offers variable white light intensities, a strobe function and red light for flight deck operations.
Improved battery life touts up to 25 days in smartwatch mode and up to 46 hours in the Fly activity, perfect for the professional pilots who complete their trip over multiple days.
Red Shift Mode changes the entire watch interface to shades of red to help preserve night vision, which provides for potentially clearer sight for demanding night flying conditions.
The ECG app2 allows users to record their heart rhythm and check for signs of atrial fibrillation (AFib). Users can take a 30-second ECG recording and view the results immediately on their smartwatch and, optionally, later in the Garmin Connect™ smartphone app.
When pilots aren't taking to the skies, they can get a better understanding of their fitness levels and track their performance with more than 30 built-in sports apps and advanced training features like hill score and endurance score.
Designed for pilots
Built for 24/7 wear, the carbon gray D2 Mach 1 Pro combines a durable design and premium materials like sapphire and titanium with a vibrant and sunlight-readable 1.4" AMOLED display. The 51mm watch case features a diamond-like carbon (DLC) titanium bezel and stainless steel 5-button design, allowing for quick access to flying tools, fitness stats, smart notifications3 and more – all on the responsive touchscreen interface. Compatible with a wide variety of metal, leather, nylon and silicone QuickFit™ bands, the D2 Mach 1 Pro can be styled for every type of event, whether it's a workout at the gym or a night on the town.
Premium aviation features on your wrist
The D2 Mach 1 Pro includes all the preflight, in-flight and postflight features pilots have come to know and trust from the D2 series, including a worldwide aeronautical database, HSI, Direct-to and moving map — all available without a phone connection. Pilots can stay informed with easy access to NEXRAD3, METARs, TAFs and MOS4 weather reports — alongside custom weather alerts as well as non-weather alerts like time, distance, altitude and a fuel timer. Utilize the wrist-based Pulse Ox sensor5 to monitor blood oxygen levels and barometric altimeter for altitude alerts. And in case of an engine-related issue, the D2 Mach 1 Pro can show the best glide speed, estimated glide distance and glide time, along with a bearing pointer to the nearest airport and a list of alternate airports.
Flight logging is a breeze with the D2 Mach 1 Pro, which automatically starts tracking flights on takeoff, then automatically transfers the date, duration, total flight time and route to the user's flyGarmin.com logbook3. Pilots can connect with the Garmin Pilot™ app to seamlessly transfer flight plans to the watch and view the list of waypoints included in their route. Additionally, for pilots operating a PlaneSync™-equipped aircraft, the D2 Mach 1 Pro can be used to access the aircraft dashboard to view status information6 including fuel, electrical, database and location information while away from the aircraft.
Customized fitness
With dozens of built-in sports apps – including new team sport activities like football, baseball, softball and more – D2 Mach 1 Pro provides data and insights for many passions. Whether working out at a gym or in the comfort of one's home, the D2 Mach 1 Pro tracks activities like strength, cardio, indoor rowing, stair stepping, yoga and HIIT. Users can also take advantage of daily workout suggestions or follow animated cardio, strength, yoga and Pilates workouts right on their watch screen. For those exploring the great outdoors, they can keep track of adventures like hiking, mountain biking, skiing, snowboarding, surfing, whitewater rafting and more.
Around-the-clock wearability
The D2 Mach 1 Pro is designed for all-day wear and includes advanced health and wellness tools, as well as a suite of smart features to keep users connected while on the go. Loaded with 24/7 health monitoring features, the D2 Mach 1 Pro includes Body Battery™ energy monitoring, all-day stress tracking, jet lag advisor, advanced sleep monitoring and sleep score, and more.
Packed with connected features, the D2 Mach 1 Pro lets users receive smart notifications3; download songs from Spotify®, Deezer or Amazon Music7 for phone-free listening; check their calendar; breeze through checkout lines with Garmin Pay™ contactless payments8; and more. Like all Garmin smartwatches, the D2 Mach 1 Pro can be used with either Android or Apple® smartphones.
Available now, the D2 Mach 1 Pro includes a vented titanium bracelet with carbon gray DLC coating as well as a black silicone band for a suggested retail price of $1399.99.
Garmin products and services have revolutionized flight and become essential to the lives of pilots and aircraft owners and operators around the world. A leading provider of solutions to general aviation, business aviation, rotorcraft, advanced air mobility, government and defense, and commercial air carrier customers, Garmin believes every day is an opportunity to innovate. Recipient of the prestigious Robert J. Collier Trophy for Garmin Autoland, Garmin developed the world's first certified autonomous system that activates during an emergency to control and land an aircraft without human intervention. Visit the Garmin Newsroom, email our media team, connect with @garminaviation on social, or follow our blog.
Battery life based on D2 Mach 1 Pro when smartwatch mode is enabled.
The ECG app is only available when paired with a smartphone with the latest version of the Garmin Connect smartphone app. The ECG app is not available in all regions; see Garmin.com/ECG for availability. The ECG app is not intended for use by people under 22 years old. With the ECG app, this device is capable of generating an ECG similar to a single-lead electrocardiogram.
When paired with a compatible smartphone, with a data connection, and in range of Bluetooth technology.
U.S. airports only
This is not a medical device and is not intended for use in the diagnosis or monitoring of any medical condition; see Garmin.com/ataccuracy. Pulse Ox is not available in all countries.
Remote aircraft status requires active PlaneSync subscription. User's smart device must have internet connectivity. Feature is available on-ground only and requires GDL 60 to have LTE connectivity; signal strength and other factors may apply. See Garmin.com/PlaneSyncCoverage for coverage details.
May require premium subscription by a third-party music provider
View current supported country, payment network and issuing bank information at Garmin.com/GarminPay/Banks.
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