Airport Management

Castlelake and Woodbine Complete Acquisition of Hyatt Regency DFW International Airport

Castlelake News
Castlelake, L.P., ("Castlelake") a global alternative investment manager with 16 years of experience investing in asset-rich opportunities, today announced it has acquired The Hyatt Regency DFW International Airport with Woodbine Development Corporation ("Woodbine"), a full-service real estate company with more than 40 years of development, investment, acquisition and asset management experience.

The investment combines insight into passenger traffic and airline business plans that Castlelake has acquired over the course of its 16-year history in the aviation sector, with its significant real estate experience. Castlelake has acquired more than 37,000 land or real estate assets in the U.S. and Europe.

Woodbine has considerable experience in successfully managing this property, having owned and operated the Hyatt Regency DFW in partnership with Ray Hunt from 1986 to 2014.

"Hyatt Regency DFW is located in a growth market that strategically increases our exposure to the hospitality sector through a high-quality asset that we believe has been uniquely impacted by the recent travel demand shock, By combining our deep investment experience with Woodbine's extensive hospitality experience in Dallas-Fort Worth, we believe we can manage the property in a way that delivers value for our investors, guests and the community."

- Evan Carruthers, Managing Partner and Chief Investment Officer at Castlelake.

"As long-time hotel investors across the region and specifically here at DFW International Airport, we are pleased to have the opportunity to reacquire the Hyatt Regency and partner with Castlelake and DFW International Airport on the transaction. We have long respected Castlelake's approach to real asset investing and are thrilled to work with them on this acquisition."

- T. Dupree Scovell, Managing Partner and Chief Investment Officer at Woodbine

Located adjacent to DFW International Airport's Terminal C, the 811-room hotel was recently renovated and includes 92,000 square feet of meeting space, four on-site complementary food and beverage outlets, 24-hour airport shuttle service and proximity to nearly 110 million square feet of combined industrial and office space.

About Castlelake
Castlelake, L.P. is a global alternative investment manager focused on investments in real assets, specialty finance and aviation. Founded in 2005, Castlelake manages approximately $20 billion of assets on behalf of its investors. The Castlelake team comprises more than 200 experienced professionals, including 89 investment professionals, across six offices in North America, Europe and Asia.

About Woodbine Development Corporation
Woodbine Development Corporation is a full-service real estate company with more than 45 years of development, investment, acquisition and asset management experience. With offices in Dallas, Phoenix and Los Angeles, Woodbine specializes in hospitality and mixed-use developments throughout the United States. The company's hospitality portfolio features major brands, independent hotels, full-service destinations and select-service stays alike. Since 1973, Woodbine has been involved in more than $7 billion in commercial real estate projects, including the development, ownership, asset management, repositioning or renovation of hotel, office, industrial, and mixed-use assets.

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Air Transport, Cargo Management, Airport Management

Delta Cargo launches e-commerce solution DeliverDirect in collaboration with SmartKargo

PR Newswire | February 01, 2024

Delta Cargo is excited to announce the launch of its newest product, DeliverDirect, developed in collaboration with SmartKargo. DeliverDirect is a door-to-door delivery service for the U.S. market, offering a competitive and customizable solution for e-commerce retailers seeking to optimize their direct-to-consumer shipping solutions. With DeliverDirect, Delta Cargo pioneers an innovative domestic carrier approach, providing swift service with transparent pricing for e-commerce and small parcel delivery. From initial warehouse pickup to delivery at the end consumer's doorstep, DeliverDirect is a fast, seamless, end-to-end service that upgrades traditional ground or air shipping services utilized by most current e-tailers. Small package shippers will benefit from increased shipping speeds, an uncomplicated pricing structure, proactive alert management, transparent tracking and reporting, and access to Delta's vast domestic network. "We are thrilled to introduce DeliverDirect, our new offer for the small parcel delivery market," shared Alison Ricker, Managing Director, Delta Cargo Global Sales. "Through our strategic collaboration with SmartKargo, DeliverDirect gives e-tailers an alternative transportation solution that fits their customers' requirements, and we envision that this service will prove to be a fast, reliable and cost-effective solution." The DeliverDirect offering can be tailored to shippers' needs with a variety of service innovations that empower customers to customize according to their unique preferences. These service innovations include: personalized pick-up times, geo-fenced notifications for consumers, multiple delivery attempts, signature-required deliveries, proof of delivery with photos, and access to advanced reporting features for a complete comprehensive service that aligns seamlessly with a variety of needs. "E-commerce shippers are looking for simple, faster and more reliable alternatives to deliver their products to consumers. Delta Cargo has a vision for small package delivery that will transform the U.S. market and continue to diversify their already robust offering in the air cargo market. Their innovative approach makes them a fantastic partner for SmartKargo, and we look forward to growing this service together," stated Milind Tavshikar, CEO and Founder of SmartKargo.

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Commercial Aviation, Airport Management

Aviation Capital Group Announces Delivery of One A320neo to SAS

Business Wire | January 25, 2024

Aviation Capital Group LLC (ACG), a premier global full-service aircraft asset manager, announced the delivery of one new Airbus A320neo aircraft on long-term lease to Scandinavian Airlines (“SAS”). Featuring CFM International LEAP-1A engines, this is the ninth of ten aircraft scheduled to deliver to the airline as part of a multiple-aircraft sale-leaseback transaction between ACG and SAS. ACG specializes in commercial aircraft leasing and aviation finance. In addition to aircraft leasing services, we provide aircraft asset management solutions tailored to meet our customers’ fleet management needs. To learn more about the aircraft leasing and aircraft management services offered by ACG, visit www.aviationcapitalgroup.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of applicable federal securities laws. Any such statements, other than statements of historical fact, are based upon our current expectations and assumptions concerning future events, which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Accordingly, such statements are not guarantees or assurances of any aspect of future performance. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.

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Aerospace, Aviation Technology, Airport Management

Avelo Airlines' First International Service Takes Flight From Lansing Through Apple Vacations Partnership

PR Newswire | January 27, 2024

Avelo Airlines' first international service takes flight this weekend from Lansing's Capital Region International Airport (LAN) in partnership with Apple Vacations. The partnership's new scheduled public charter service will serve three international destinations from LAN. Avelo and Apple Vacations offer nonstop flights and vacation packages between LAN and three tropical international destinations: Cancun, Mexico; Montego Bay, Jamaica; and Punta Cana, Dominican Republic beginning tomorrow, Jan. 27 through April 3, 2024. Booking information and specific flight dates and times can be found at AppleVacations.com. Beginning Jan. 27: Lansing to Cancun International Airport (CUN) – three times weekly on Saturdays, Mondays, and Wednesdays Beginning Feb. 2: Lansing to Montego Bay's Sangster International Airport (MBJ) – one time weekly on Fridays Beginning Jan. 28: Lansing to Punta Cana International Airport (PUJ) – two times weekly on Sundays and Thursdays Avelo Airlines Chairman and CEO Andrew Levy said, "These three tropical destinations Avelo will operate for Apple Vacations from Lansing are the perfect debut of Avelo's international service. We look forward to offering the same reliable and friendly experience to Apple Vacations' Customers that we've been providing Avelo's Capital Region Customers since we took flight at LAN 15 months ago. Apple Vacations' selection of Avelo to operate their flights to these three popular destinations is a testament to positive reputation we've built in Michigan and across the country." Additionally, Avelo offers twice-weekly scheduled service between LAN and Orlando International Airport (MCO). Avelo is the only airline offering nonstop service between LAN and MCO. Nonstop service to Orlando can be booked at AveloAir.com. Since Avelo began service at LAN on October 26, 2022, the airline has flown over 30,000 Customers on nearly 300 flights. Avelo also leads LAN in reliability with a 100% completion factor, meaning there have been no Avelo cancellations at LAN since the airline inaugurated served there 15 months ago. Capital Region Airport Authority President and CEO Nicole Noll-Williams said, "We are thrilled that Apple Vacations is back at LAN for our 2024 international season. And we couldn't be more excited that Apple selected Avelo Airlines to operate these flights with their exceptional track record for reliable and friendly service. These nonstop flights to Mexico, the Dominican Republic, and Jamaica for 2024 are another reminder that LAN is a gateway to popular vacation destinations around the world – and it's not too late to book your trip!" America's Most Convenient Airline Avelo was founded to Inspire Travel by saving its Customers time and money. Since taking flight on April 28, 2021, Avelo has flown 4.2 million Customers on over 30,000 flights. Today, Avelo serves 43 destinations in 23 states and Puerto Rico. Along the way, Avelo has unlocked a new era of convenience, choice and competition by flying unserved routes to primarily underserved communities across the country. Every Avelo flight is nonstop, and at least one airport on every Avelo flight is a small, easy to use airport – making every Avelo journey easier and more enjoyable. Avelo is distinguished by its reliability. In 2023, Avelo achieved the lowest flight cancellation rate and the second-best on-time performance in the U.S. airline industry. Avelo Customers can always change or cancel their itineraries with no extra fees. Additionally, families can travel with ease knowing every child 13 and under will always be automatically seated with an accompanying adult at no additional cost. Additionally, Avelo offers advanced seat assignments for sale. One third of its seats are extra leg room seats, ranging from 32 inches to more than 36 inches, offering a more comfortable experience for Customers who value more space. In addition to advance seat assignments, Avelo offers several unbundled travel-enhancing options that give Customers the flexibility to pay only for what they value, including priority boarding, checked bags, carry-on overhead bags, and bringing a pet in the cabin.

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Commercial Aviation, Cargo Management

B&H Worldwide Secures Vital Logistics Contract with Flair Airlines

EIN Presswire | January 29, 2024

B&H Worldwide, a global leader in aerospace and aviation logistics, is delighted to announce the successful acquisition of a new contract with Flair Airlines, a leading Canadian ultra-low-cost carrier headquartered in Edmonton, Alberta. Flair Airlines, known for its scheduled passenger and chartered services with a fleet of Boeing 737 aircraft, has selected B&H Worldwide as its trusted logistics partner. Under this agreement, B&H Worldwide will provide critical support to Flair Airlines, including Aircraft on Ground (AOG) assistance, Import/Export Clearance, and deliveries. The scope of the partnership extends to cover key regions, with a focus on Canada, the USA, and Australia. Gary Wilson, Group Managing Director of B&H Worldwide, expressed his enthusiasm, saying, "We are honoured to have been chosen by Flair Airlines to provide logistics services. This partnership signifies our commitment to delivering high-quality solutions to the aerospace industry. B&H Worldwide is poised to support Flair Airlines' operations seamlessly and contribute to their success." To ensure a smooth and efficient import/export process, B&H Worldwide has developed a customized Standard Operating Procedure (SOP). This SOP not only facilitates a streamlined logistics process but also outlines key contacts and support points tailored to Flair Airlines' specific needs. Furthermore, it establishes service standards that align with the airline's shipment requirements. Gary Wilson added, "Our bespoke service is a testament to our dedication to meeting the unique demands of Flair Airlines. We are committed to providing not only exceptional logistics services but also a partnership built on trust and collaboration." B&H Worldwide will leverage their philosophy of custom processes to support Flair Airlines in their logistics operations, working closely with their supply chain team. The first successful logistics project, a COMAT shipment, included a total of 17 pallets containing aviation parts (non-Dangerous Goods), 737 main wheels, 737 nose wheels, 737 brake in a clamshell, and Inflight training equipment. In a notable milestone, Flair Airlines loaded their own Boeing 737-800 MAX aircraft with materials destined for Australia. The 737-800 MAX aircraft departed from Calgary, Canada, and successfully landed in Coolangatta, Australia. B&H Worldwide played a crucial role in facilitating the clearance process in Australia. Vladan Nikolic, Director of Material Supply Chain for Flair Airlines, expressed his satisfaction with B&H Worldwide's performance, stating, "The B&H Australian team's professionalism and responsiveness during the first logistics project was impressive. We have full confidence in their capabilities, and I look forward to continued collaboration at this high service level." B&H Worldwide remains committed to delivering top-tier logistics solutions, and the partnership with Flair Airlines further solidifies the company's position as a trusted leader in aerospace and aviation logistics.

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