Sabre Corporation | December 20, 2021
Thai airline Nok Air today announced strategic new long-term agreements with both Sabre Corporation (NASDAQ: SABR) a leading software and technology provider that powers the global travel industry, and its subsidiary company, Radixx, to support the evolution of the carrier's new business strategy.
Nok Air has selected an extensive suite of products from Sabre and Radixx to expand distribution and revenue generation opportunities. The agreements support the carrier's repositioning to serve its growing customer base of premium travellers and value-based customer segments. The Sabre and Radixx products will power future business model evolution as Nok Air expands its international operation, develops new airline partnerships and explore further technical capabilities and innovations beyond today.
Radixx will provide a fully integrated passenger service system for Nok Air that spans reservations, inventory, pricing, e-commerce, agency distribution, departure control, load control, loyalty and other related capabilities. In parallel, under a new Sabre distribution deal, Nok Air will distribute its airline content across Sabre's global travel marketplace, opening the door to new international markets and growing its Thailand home market on the Sabre Global Distribution System (GDS).
"We have ambitious business expansion plans, including launching new domestic and international routes, restructuring our fleet and adding new jets as we transition selected segments to a premium service to reflect our quality service, So, it was imperative to us that we chose the right technology partner to support us in all of our goals to streamline our operations, improve efficiencies and open new revenue opportunities and new markets while improving the experience for our travellers."
-Wutthiphum Jurangkool Ph.D., Chief Executive Officer of Nok Air.
The carrier, which operates out of Bangkok's Don Mueang International Airport, will utilize the following Sabre and Radixx products as Thailand re-opens to vaccinated international travellers:
Radixx Res – Radixx's core passenger system will enable Nok Air to manage all passenger operations and sales channels in order to expand distribution channels and partnerships.
Radixx Go and Radixx Go Touch – new digital capabilities to evolve Nok Air's check-in operation at airports, enhance customer service and enable additional ancillary revenue-generation opportunities across airport touchpoints. Radixx Go Touch enables airline employees to transact full airport departure control capabilities from a mobile device, allowing some flexibility from the constraints of physical airport desks and counters.
Radixx ezyCommerce – an integrated e-commerce and mobile solution to power Nok Air's business-to-consumer for passengers and business-to-business channels for travel agents and corporates.
Radixx Loyalty – new capabilities will enable Nok Air to strengthen the offering of its Nok Air Fan Club, including enhanced online servicing, automation and redemption options for members.
Radixx Insight – valuable business data and analytics to enable better decision-making, while powering the airline's internal back-office systems.
Sabre's Global Distribution System – to enable expansion into new global markets, ensuring its fares have the widest possible distribution.
"We're delighted to further expand our footprint in APAC while opening up access to new global markets and segments for Nok Air as well as providing new digital capabilities for the carrier, creating additional revenue-generation opportunities and, ultimately, enabling Nok to create improved experiences for travellers at all touchpoints."
-Chris Collins, Senior Vice President and General Manager for Radixx
"At Sabre, we are laying out our strategic plans to create our own catalysts for growth, so we are thrilled to be able to support Nok Air on its own transformational journey, Our new dual-deal alliance with Nok Air, incorporating both PSS and GDS solutions, is the perfect example of how Sabre and Radixx are able to combine synergistic technological offerings to create effective, innovative end-to-end solutions for airlines of all sizes and cost models."
-Rakesh Narayanan, Vice President, Regional General Manager, Asia Pacific, Travel Solutions Airline Sales, Sabre.
About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveller experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world.
WISK | January 25, 2022
Wisk, a leading Advanced Air Mobility (AAM) company and developer of the first all-electric, self-flying air taxi in the U.S., has secured $450 million in funding from The Boeing Company, making it one of the most well-funded AAM companies in the world. Combined with previous funding, this investment reinforces Wisk’s strong position as a privately-backed AAM leader and highlights the strength of Wisk’s strategic partnership with Boeing and their collaboration on critical technology development.
This investment will further advance the development of Wisk’s 6th generation eVTOL aircraft, a first-ever candidate for certification of an autonomous, all-electric, passenger-carrying aircraft in the U.S. The funding will also support the company as it enters an intensive growth phase over the next year, its preparations for the launch of scale manufacturing, and the company’s Go-to-Market efforts.
Within five years following the certification of its 6th generation aircraft, Wisk intends to operate one of the industry’s largest fleets of AAM eVTOL aircraft. The scale of this fleet is enabled by the company’s autonomous technology, a competitive differentiator and industry-recognized key to scaling services and maximizing safety. In this timeframe, Wisk anticipates close to 14M annual flights bringing time savings to over 40 million people across 20 cities – all with zero emissions.
“Wisk is extremely well-positioned to deliver on our long-term strategy and commitment to safe, everyday flight for everyone. We are incredibly fortunate to have Boeing as not only an investor but a strategic partner, which provides us with access to a breadth of resources, industry-leading expertise, a global reach, extensive certification experience, and more. As we enter this next stage of our growth, this additional funding provides us with capital while allowing us to remain focused on our core business and our number one priority, safety.”
-Gary Gysin, CEO of Wisk
"With this investment, we are reconfirming our belief in Wisk’s business and the importance of their work in pioneering all-electric, AI-driven, autonomous capability for the aerospace industry. Autonomy is the key to unlocking scale across all AAM applications, from passenger to cargo and beyond. That’s why straight-to-autonomy is a core first principle. Boeing and Wisk have been at the forefront of AAM innovation for more than a decade, and will continue to lead in the years ahead.”
-Marc Allen, Chief Strategy Officer of Boeing
With its deep expertise in autonomous, electric flight, its extensive flight test history, key knowledge and insights from the development of five generations of aircraft, and the strength of its partnerships, Wisk is positioned to maintain its leadership in the AAM and broader mobility space.
Wisk began in 2010 as Zee Aero, with a mission to deliver safe, everyday flight for everyone, and later merged with Kitty Hawk Corporation. Upon recognizing the commercial potential of Wisk’s 5th generation aircraft, the aircraft and team were spun out to form Wisk, with an investment from The Boeing Company. Over the past decade, Wisk has achieved a number of aviation and industry firsts, most notably, the first flight of an all-electric, autonomous, eVTOL aircraft designed for passenger use, in the U.S.
Previous undisclosed funding rounds were led by The Boeing Company and Kitty Hawk Corporation, through a joint venture, making Wisk one of the only AAM companies to be backed by two aviation leaders. Kitty Hawk remains an investor and has supported the development of Wisk’s previous generations of aircraft.
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. Based in the San Francisco Bay Area and New Zealand, Wisk is an independent company backed by The Boeing Company and Kitty Hawk Corporation. With over a decade of experience and over 1500 test flights, Wisk is shaping the future of daily commutes and urban travel, safely and sustainably.
Aviation Capital Group | April 13, 2022
Aviation Capital Group LLC (“ACG”) announced today the secured financing of two Airbus A321neo LR aircraft for TAP Air Portugal (“TAP”).
This financing marks the fifth use by ACG’s Aircraft Financing Solutions (“AFS”) program of its $650 million secured funding facility. This allowed ACG to provide a senior secured loan to TAP and to partner with Novus Aviation Capital (“Novus”), who provided complementary mezzanine financing. Together, ACG and Novus were able to offer TAP an attractive and comprehensive financing solution.
“ACG is grateful to have had the opportunity to work with TAP and Novus on this financing. We were able to draw upon our established relationship with Novus to effectively meld the senior and junior loans and to provide TAP with timely and efficient financing. Moreover, we were finally able to bring to fruition ACG’s long held desire to work with TAP again,” said Andrew Falk, Managing Director of ACG.
“We are delighted to complete this transaction with both ACG and TAP, continuing to support an existing airline customer. Not only are we building on our relationship with this additional financing for TAP, but we are also very proud to have a strong foundation with ACG that will allow both parties to collaborate on future opportunities. This debt structure is an attractive value proposition and the combination of asset type and stakeholders involved makes it appealing for both Novus and Tamweel Aviation Finance, one of the industry’s leading mezzanine loan providers.”
Mamoun Kuzbari, Chief Commercial Officer, Novus Aviation Capital
“TAP is very pleased to work with ACG and Novus on this financing and we are very confident that these two additional A321neo LR aircraft that are joining our fleet, already one of the youngest and most efficient in the world, will contribute to the success of our airline,” said Gonçalo Pires, Chief Financial Officer of TAP Air Portugal.
About Aviation Capital Group
Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with over 440 owned, managed and committed aircraft as of December 31, 2021, which are leased to approximately 90 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.
DESIGN AND ENGINEERING
Electra.aero | December 30, 2021
A new generation of cost-efficient hybrid-electric aircraft is making on-demand regional air travel commercially feasible. Electra.aero, a US-based clean aviation technology company and flyv, a German company creating On Demand Air Mobility solutions, have partnered to develop a revolutionary customer-centric air mobility solution that leverages the economic advantages of Electra's sustainable flight technology to offer travelers the quickest, most cost-effective route between locations in underserved regional travel markets in Europe.
Passengers will fly on Electra's hybrid-electric, ultra-short takeoff and landing (eSTOL)aircraft, a fixed-wing plane that uses a unique combination of proven blown lift technology, hybrid-electric power, and distributed propulsion to operate on runways as small as 100x300 feet. The quiet, piloted plane delivers substantially lower emissions and operating costs than conventional aircraft. Batteries are recharged mid-flight, eliminating the need for ground charging infrastructure and enabling quick flight turnaround in diverse environments. The flyv service will initially operate between airports and eventually provide point-to-point intercity travel, taking full advantage of the Electra eSTOL's ability to take off and land in places previously inaccessible by flight.
flyv is a novel airline focused on regional air mobility. In lieu of a traditional hub and spoke network, the flyv scheduling platform uses a proprietary algorithm to optimize the daily flight schedule based on paid bookings and operational constraints. flyv will provide customers a guaranteed fixed travel timeframe to their destination at the point of booking, and exact itinerary details prior to departure.
"There is a gap in transportation services today between where ground transport is effective and where large transport aircraft are providing efficient service. We designed Electra's eSTOL aircraft to fill that gap, providing a more sustainable transport option than cars or traditional aircraft for short and medium distance routes up to about 500 miles, We are delighted to be partnering with flyv to pair our aircraft technology with flyv's innovative business model and flight scheduling technology to bring this transportation solution to customers."
-John S. Langford, Founder and Chief Operating Officer (CEO) of Electra.aero.
"Traditional airlines are focused on capacity, not on demand. We're building a new means of transport that is demand-driven and customer centric. We aim to connect unserved communities to as many other decentralized locations as possible by delivering the fastest means of transport from one point to another at market value-based prices, The economics were a challenge with conventional aircraft. The cost-effectiveness of Electra's high-performance eSTOL aircraft is the puzzle piece that makes the flyv model work. Our partnership with Electra enables a micro-mobility solution that connects the unconnected into the global aviation network in a sustainable way, creating economic opportunities for both communities and customers,"
-flyv Chief Executive Officer (CEO) Anton Lutz.
Under a Memorandum of Understanding (MOU), flyv will be Electra's air mobility services partner in Europe, and Electra will be flyv's OEM partner for regional air mobility services in Europe and elsewhere, with a commitment by flyv to purchase of up to 100 Electra eSTOL aircraft. The agreement raises Electra's total purchase commitments to 280 aircraft. The two companies will jointly explore urban and regional networks to be served by flyv, and will collaborate on elements of eSTOL performance, economics, and passenger experience as well as joint marketing initiatives. The global urban and regional advanced air mobility market is forecast by Morgan Stanley at $1 trillion.
flyv is a start-up On-Demand Air Mobility airline connecting people in a demand-driven network, with a mission to connect every possible landing field in a single customer-induced web created anew every day. The company's core asset is its two algorithms: the fulfillment algorithm and the product algorithm. Together they enable optimized product offering and operationalization leading to a new approach in airline distribution and management. flyv's highly skilled team draws from various disciplines with executive experience from Amazon, GE Aviation, Vodafone, easyJet, and Lufthansa Group, as well as renowned scientific institutions and European airports.
Electra.aero, Inc. is a next-gen aerospace company leading the way in sustainable urban and regional mobility. The company is building clean, hybrid-electric, ultra-short takeoff and landing (eSTOL) airplanes that fly people and cargo quieter, further, and more affordably. Electra is collaborating with air transport and ground infrastructure operators to achieve a turnkey solution for diverse markets. Electra's team includes some of the most respected and successful entrepreneurs and engineers in novel aircraft design, and its technology development is supported by NASA and the US Air Force Agility Prime program.