Precision Aviation Group | August 24, 2022
GenNx360 Capital Partners ("GenNx360") announced today that its portfolio company, Atlanta-based Precision Aviation Group, Inc. ("PAG"), a leading provider of products and value-added services to the aerospace and defense industries, has entered into a definitive agreement to acquire PTB Group (PTB). PTB is listed on the Australian Securities Exchange (ASX: PTB) and the transaction is currently scheduled to close in the 4th quarter of 2022, post receiving required shareholder and regulatory approvals. PTB provides maintenance, repair, and overhaul services (MRO) on Pratt & Whitney PT6 and Honeywell TPE331 engines, leases engines and airframes, and provides aviation supply chain services. PTB is made up of the following entities: Pacific Turbine USA Group (a/k/a Prime Turbines) with locations in Texas, Arizona, Florida, and Pennsylvania, Pacific Turbine Brisbane and Pacific Turbine Leasing, both in Brisbane, Australia and International Air Parts located in Sydney, Australia. Daphne Dufresne, the GenNx360 Managing Partner who leads the PAG investment said, "I am pleased to assist the PAG team on its continued positive growth trajectory. The PTB acquisition is highly strategic, and we are excited about the expansion of PAG's Engine Services Capabilities and increasing their market share in this vertical. This strategic expansion is a testament to PAG's management team and their strong execution."
"We are excited about adding PTB to the Precision Aviation Group of Companies. The addition of PTB increases PAG's repair stations to 20 worldwide, expands our Engine Services Division with the addition of the PT6 and TPE331 engines, and significantly enlarges our Supply Chain Services business. Stephen Smith and his team, like PAG, are focused on exceptional customer service and exceeding customer expectations. We look forward to this partnership,
David Mast, President and CEO of PAG.
Stephen Smith, PTB's Managing Director and CEO said, "We are pleased to be entering into this definitive agreement with PAG and believe they will be a good future owner of the Company. PAG is committed to continuing to expand our products and services and ensuring continued opportunities for our workforce of approximately 150 people. PAG has a shared vision with PTB, and I see an exciting future ahead." "Our interest in PTB is a continuation of the PAG strategy to increase the company's repair portfolio through synergistic acquisitions and to better serve our customers. This investment would be the seventh PAG bolt-on executed under GenNx360's ownership", said Pratik Rajeevan, GenNx360 Principal on the transaction.
About Precision Aviation Group
PAG is a leading provider of products and value-added services to the aerospace and defense industry worldwide. With 16 Repair Stations globally, and over 650,000-square-feet of sales and service facilities. PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain – and its trademarked Inventory Supported Maintenance, Repair and Overhaul (ISMRO®). PAG provides MRO and Supply Chain Solutions for Fixed and Rotary-wing aircraft. PAG subsidiaries have MRO and manufacturing capabilities on over 150,000 products focused on 4 verticals – Avionics, Components, Engines and Sub-Assembly/DER/Manufacturing Services. (www.precisionaviationgroup.com). PAG is owned by global investment firm GenNx360 Capital Partners.
About PTB Group
PTB Group is an ASX listed aviation company which provides the following services globally:
Maintenance, repair and overhaul services ("MRO") services for Pratt & Whitney PT6 and Honeywell TPE331 Engines
Aircraft and engine related supply chain services.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business-to-business companies. GenNx360 invests in companies with proven and sustainable business models in expanding industries, with the objective of implementing value-enhancing operational improvements to accelerate growth, deliver efficiencies and generate strong financial returns. Target industries include aerospace & defense, business & industrial services, automation & industrial technology, packaging products, industrial machinery and components, equipment services, environmental services, and food ingredients/equipment/services. GenNx360 was founded in 2006 and is headquartered in New York City.
BUSINESS AVIATION, COMMERCIAL AVIATION
United Airlines | September 15, 2022
United and Emirates announced a historic commercial agreement today that will enhance each airline's network and give their customers easier access to hundreds of destinations within the United States and around the world.United will launch a new direct flight between Newark/New York and Dubai starting in March 2023 – from there, customers can travel on Emirates or its sister airline flydubai to more than 100 different cities. Tickets for United's new Dubai flight are now on sale.Starting in November, Emirates customers flying into three of the nation's biggest business hubs – Chicago, San Francisco and Houston – will have access to nearly 200 U.S. cities in the United network – most of which only require a one-stop connection. At eight other U.S. airports served by Emirates – Boston, Dallas, LA, Miami, JFK, Orlando, Seattle and Washington DC – both airlines will have an interline arrangement in place. United and Emirates announced their agreement today at a ceremonial event at Dulles International Airport, hosted by United CEO Scott Kirby and Emirates President Sir Tim Clark, featuring United and Emirates Boeing 777-300ER aircraft and flight crews from each carrier.
"This agreement unites two iconic, flag carrier airlines who share a common commitment to creating the best customer experience in the skies,United's new flight to Dubai and our complementary networks will make global travel easier for millions of our customers, helping boost local economies and strengthen cultural ties. This is a proud moment for both United and Emirates employees, and I look forward to our journey together."
United CEO Scott Kirby
Two of the biggest, and best-known airlines in the world are joining hands to fly people better to more places, at a time when travel demand is rebounding with a vengeance. It's a significant partnership that will unlock tremendous consumer benefit and bring the United Arab Emirates and the United States even closer," said Sir Tim Clark, President Emirates Airline. We welcome United's return to Dubai next year, where our hub Dubai essentially becomes a gateway for United to reach Asia, Africa and the Middle East via the combined network of Emirates and flydubai. We look forward to developing our partnership with United for the long term. Soon customers of both airlines can book these connecting flights on a single ticket making check-in and luggage transfer faster and easier. For example – travelers will be able to visit United.com or use the United app to book a flight from Newark/New York to Karachi, Pakistan or go to Emirates.com to book a flight from Dubai to Atlanta or Honolulu. This agreement will also give the loyalty program members of both airlines more opportunities for more rewards: United MileagePlus® members flying on United's Newark/New York to Dubai flight can soon earn and redeem miles when connecting beyond on Emirates and flydubai and Emirates Skywards members will be able to earn miles when they travel on United operated flights. Eligible United customers will also soon have access to Emirates lounges when connecting to and from United's new Dubai flight. Both airlines have recently announced significant investments in the customer experience. Emirates will retrofit more than 120 aircraft as part of a $2 billion effort that includes elevated meal choices, a brand-new vegan menu, a 'cinema in the sky' experience, cabin interior upgrades, and sustainable choices. At United, the airline will add 500 new Boeing and Airbus aircraft to its fleet with a focus on a new signature interior that includes seat-back screens in every seat, larger overhead bins, Bluetooth connectivity throughout, and the industry's fastest available in-flight WiFi.About United United's shared purpose is "Connecting People. Uniting the World." From our U.S. hubs in Chicago, Denver, Houston, Los Angeles, Newark/New York, San Francisco and Washington, D.C., United operates the most comprehensive global route network among North American carriers. United is bringing back our customers' favorite destinations and adding new ones on its way to becoming the world's best airline. For more about how to join the United team, please visit www.united.com/careers and more information about the company is at www.united.com. United Airlines Holdings, Inc., the parent company of United Airlines, Inc., is traded on the Nasdaq under the symbol UAL.
AIR TRANSPORT,COMMERCIAL AVIATION
DELTA AIRLINES | August 17, 2022
Aviation Partners Boeing (APB) and Delta Air Lines, Inc. (Delta) share a commitment to reduce aircraft carbon emissions. Today, APB is excited to announce Delta's recent agreements to purchase Split Scimitar Winglets for its 737-800 fleet and for a number of recently acquired 737-900ER aircraft. Delta also recently agreed to purchase Scimitar Blended Winglets for up to 70 of Delta's 757-200 aircraft. Both the Split Scimitar Winglets and Scimitar Blended Winglets are upgrades to APB's ubiquitous Blended Winglets. Delta has previously purchased and installed APB winglet products on its 737-800, 737-900ER, 757-200, 757-300 and 767-300ER fleets. APB is proud that Delta has, once again, turned to APB's winglet products across its fleets to deliver savings in jet fuel consumption and gains in fuel efficiency.
"The recent challenges for the industry have forced many airlines to focus on efforts other than emissions reduction and operational efficiency ."Delta's recent agreements to purchase additional APB winglet products is a clear indication of Delta Air Lines' unwavering dedication to building a more sustainable future for air travel."
Craig McCallum, Aviation Partners Boeing senior director of sales and marketing.
We could not be more excited and honored to continue our partnership with Delta Air Lines to reduce aircraft fuel consumption and carbon emissions. We are inspired by Delta's ambitious sustainability goals and extremely grateful for their continued endorsement of APB products," says Aviation Partners Boeing chief commercial officer, Patrick LaMoria.Since forming in 1999, airlines worldwide have placed orders for over 9,500 of APB visual technology winglet systems. APB estimates that its products have reduced aircraft fuel consumption worldwide by over 13.4 billion gallons to-date thereby saving over 141 million tons of carbon dioxide emissions.Aviation Partners Boeing is a Seattle based joint venture of Aviation Partners, Inc. and The Boeing Company.
DEFENSE AND SPACE
Sabre Corporation | July 08, 2022
Sabre Corporation a leading software and technology company powering the global travel industry, has successfully integrated IATA New Distribution Capability content from Qatar Airways to its global distribution system. After a pilot phase with agency customers in Australia and Sweden, the offers of Qatar's flag carrier will now be rolled out successively to travel agencies across the globe starting oavian July 7, 2022.
Travel agencies will be able to shop, book, and manage NDC offers from Qatar Airways. Access to Qatar's content will be available through Sabre Red 360, Sabre's agency point-of-sale tool, as well as its NDC-enabled Offer and Order Application Programming Interfaces.
"We've been actively engaged in Sabre's Beyond NDC program for several years and we're proud to be the first carrier based in EMEA to make our products and offers available to the global travel agency community through Sabre's marketplace. With NDC as a part of our strategy to evolve our offering and enhance ancillary sales, we believe effective distribution in the indirect channel will become more important in the future."
Matt Raos, senior vice president of global sales at Qatar Airways
With Qatar Airways' extensive network of destinations, access to the carrier's unique NDC content is expected to be relevant to travel buyers across the globe in the post-COVID-19 recovery period and beyond.
"As the corporate travel sector continues to recover, customers are looking for enhanced shopping experiences and improved content in their marketplace," said John Bukowski, vice president of distribution, content and sourcing at American Express Global Business Travel. "Our objective is to ensure that our customers and travelers have access to the broadest content and an unrivaled travel experience. We are excited about collaborating with Qatar Airways and Sabre to continue to evolve our customers access to content while delivering the servicing and experience they expect from American Express GBT."
NDC is one aspect of Sabre's strategic goal to create a new marketplace for personalized travel, with some key developments expected for 2022. Dynamic air pricing for NDC offers is anticipated to become available with the recently launched Air Price IQ ™ product within the Sabre Retail Intelligence suite, which will enable airlines to optimize offers in real-time with machine learning and data analytics capabilities based on airlines' unique strategies and needs. As an NDC aggregator and airline IT provider, Sabre is now included in the Airline Retailing Maturity (ARM) index from the International Air Transport Association (IATA). Radixx, which provides solutions for low-cost carrier airlines, is also expected to become certified under the ARM index later this year as an airline IT provider.
"We've always said that NDC is a marathon, not a sprint," said Kathy Morgan, vice president of channel delivery for Sabre Travel Solutions. "We believe that realizing the potential of NDC is a collaborative effort, and we are excited about the progress we are making with carriers like Qatar Airways. Alongside strategic efforts like Sabre Travel AI ™, as well as the launch of our Retail Intelligence suite of products, these NDC achievements expand and progress our opportunities to advance personalized retailing."
About Sabre Corporation
Sabre Corporation is a leading technology provider to the global travel industry. Sabre's software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management. Sabre also operates a leading global travel marketplace, which processes more than US$120 billion of global travel spend annually by connecting travel buyers and suppliers. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world.
About Qatar Airways
A multiple award-winning airline, Qatar Airways was announced as the 'Airline of the Year' at the 2021 World Airline Awards, managed by the international air transport rating organization, Skytrax. It was also named 'World's Best Business Class', 'World's Best Business Class Airline Lounge', 'World's Best Business Class Airline Seat', 'World's Best Business Class Onboard Catering' and 'Best Airline in the Middle East'. The airline continues to stand alone at the top of the industry having won the main prize for an unprecedented sixth time Qatar Airways currently flies to more than 150 destinations worldwide, connecting through its Doha hub, Hamad International Airport, voted by Skytrax as the 'World's Best Airport 2022'.