JetBlue Airways to Face 80% Loss in Third Quarter, Post Pandemic Turbulent Recovery in Travel Demand

JetBlue | July 28, 2020

JetBlue Airways on Tuesday said it swung to a loss in the second quarter and forecast that revenue will fall by about 80% in the third quarter as the coronavirus pandemic promises a choppy recovery in travel demand. The New York-based airline carried just 616,000 passengers in the three months ended June 30, down more than 94% from the 11 million who flew JetBlue in the same period last year. Revenue plunged about 90% to $215 million from more than $2.1 billion in the second quarter of 2019.

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Russian President Vladimir Putin and Russian Deputy Prime Minister Dmitri Rogozin met for a briefing on import substitution in aircraft and naval manufacturing in Moscow on Monday.


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BUSINESS AVIATION

US Air Force and Boom Supersonic Enter into Strategic Partnership

Boom Supersonic | January 12, 2022

Boom Supersonic, the aerospace company building the world's fastest and most sustainable supersonic airliner, today announced it has entered into a three year strategic partnership with the U.S. Air Force valued at up to $60 million. The Air Force awarded this contract to Boom through its innovation arm, AFWERX, and its AFVentures division, which is designed to accelerate commercial technologies. Known as the Strategic Funding Increase (STRATFI), the STRATFI contract awarded to Boom is one of the program's largest investments and a significant commitment to the future of supersonic aviation. The STRATFI contract will accelerate research and development on Overture, Boom's commercial airliner. Overture will carry 65–88 passengers at twice the speed of today's airliners. Designed to run on 100% sustainable aviation fuels, Overture is expected to be the first large commercial aircraft to be net zero carbon from day one. The supersonic airliner is set to enter manufacturing in 2023, roll out in 2025, and begin flying passengers by the end of the decade. STRATFI funding will accelerate critical design and development initiatives on Overture, including wind tunnel testing and propulsion system definition. The award represents a substantial increase in the Air Force's financial investment in Boom following a SBIR Phase 2 contract awarded in September 2020. "We are proud of the Air Force's continued support and recognition of Boom's leadership in supersonic flight—and we see our partnership as mutually beneficial, With STRATFI, we're able to collaborate with the Air Force on the unique requirements and needs for global military missions, ultimately allowing Boom to better satisfy the needs of the Air Force where it uses commercially-derived aircraft. As a potential future platform for the Air Force, Overture would offer the valuable advantage of time, an unmatched option domestically and internationally." -Boom founder and CEO Blake Scholl. The new Air Force contract represents a further widening of government efforts to ensure that the U.S. remains at the forefront of supersonic commercial development. Additionally, a derivative of Overture could offer the Air Force a future strategic capability in rapid global transport and logistics. Potential users and applications include executive transport; Intelligence, Surveillance, Reconnaissance; Special Operations Forces; and the Pacific Air Forces (PACAF). About Boom Supersonic Boom Supersonic is redefining commercial air travel by bringing sustainable, supersonic flight to the skies. Boom's historic commercial airliner, Overture, is designed and committed to industry-leading standards of speed, safety, and sustainability. Overture will be net-zero carbon, capable of flying on 100% sustainable aviation fuels (SAF) at twice the speed of today's fastest passenger jets. Overture's order book, including purchases and options, stands at 70 aircraft, and Boom is working with the United States Air Force for government applications of Overture. Named one of TIME's Best Inventions of 2021, the XB-1 demonstrator aircraft rolled out in 2020, and its carbon neutral flight test program is underway. The company is backed by world-class investors, including Bessemer Venture Partners, Prime Movers Lab, Emerson Collective and American Express Ventures.

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BUSINESS AVIATION

AeroCRS & WorldTicket join 777 Partners travel portfolio following strategic acquisitions

777 Partners | May 06, 2022

777 Partners, a Miami-based private investment firm with a growing aviation and travel portfolio, announced the acquisition of Tel Aviv-based AeroCRS and Copenhagen-based WorldTicket. The addition of AeroCRS and WorldTicket to 777 Partners' travel technology portfolio supports the company's ambitious technology strategy focused on delivering solutions that create new commerce channels for travel companies and improve next-generation retailing, distribution, interlining, and passenger connectivity. "Changes within the travel sector have created an unprecedented opportunity for a new wave of highly disruptive companies focused on the latest retailing technology to partner with the wider travel community. We are delighted to welcome the talented AeroCRS and WorldTicket teams into the 777 family as we deliver on our exciting travel strategy through 2022 and beyond." Joshua Wander, founder and managing partner of 777 Partners 777 Partners also leases aircraft and deploys technology solutions to its dynamic portfolio of airline investments, including Flair in Canada and the Australian start-up airline Bonza. With the 2019 acquisition of Air Black Box, an interlining technology company, the addition of AeroCRS and WorldTicket will form a new travel group offering a suite of disruptive technology products to airlines and travel companies worldwide. The acquisitions are part of 777 Partners' $100m commitment to the travel vertical and supporting the post-pandemic travel rebound and industry restructure through new disruptive technology opportunities. Founded in 2006, Israel-based AeroCRS offers several travel-related products, including inventory management, reservations, and flight/fare management technology. The proven technology and product suite have been adopted significantly over the last two years as the aviation industry reviewed partnerships and distribution strategies. With cloud based and NDC level 4 technology at its heart, AeroCRS already hosts 90 airlines worldwide, with eight more in advanced implementation. Meir Hadassi Turner, CEO & Founder of AeroCRS, said, "We are delighted to embark on our next exciting growth stage with 777 Partners. The adjacent synergies across the investment portfolio are significant and combined with 777's own proprietary technology and talent, we'll create a new travel group and a suite of travel solutions to support the growth and transformation of global start-up, low cost and full-service carriers of all sizes." The acquisitions were led by Josh Wander and Steve Pasko, the founders of 777 Partners, and Adam Weiss, Chief Executive Officer of the firm's travel group who oversees all aviation and travel investments. "Over the last two years, we have been focused on architecting and building a platform of interoperable, modular products which enable airlines, airports, and other travel companies to evolve their business models and regain control of passenger relationships by unencumbering themselves from legacy systems. These acquisitions significantly advance that effort." said Adam Weiss. About AeroCRS AeroCRS provides technology services and distribution connectivity to more than 90 travel companies worldwide since 2006. Its technology solutions include inventory management, yield & revenue management, fares & classes management, open API, B2C & B2B platform, fares branding, FFP, BI platform, reporting center, and many more technology services. In addition to the core software services, AeroCRS invented the AeroCRS Network. The Network is an online distribution platform for airlines based on API integrations globally to over 20 distribution channels. Any airline using the AeroCRS Network can increase sales and grow distribution reach no matter which Passenger Service System (PSS) solution it uses. About WorldTicket WorldTicket is a leading provider of Passenger Service Solutions (PSS) to airlines of all business models. Since 2002 the company has developed innovative and flexible airline IT solutions and is currently servicing more than 75 airlines worldwide. WorldTicket is headquartered in Copenhagen and has offices in Miami, Bangkok, Warsaw, Kyiv and Beijing. The global organization set-up allows 24/7 support for all airline customers across time zones. WorldTicket is the only PSS provider that has acquired its AOC holding airline, FlexFlight, with the IATA code W2. It allows the innovative company to sub-host any airline into the GDS without any long implementation times and upfront investments. About 777 Partners 777 Partners is a Miami-based alternative investment firm that invests across several high-growth, attractive verticals. Founded in 2015, 777 Partners strategically invests across six broad industries: insurance; consumer and commercial finance; litigation finance; direct lending; sports, media and entertainment; and aviation. Within sports, notable investments include Genoa FC, a significant stake in Sevilla FC, one of Spain's most prestigious and successful football clubs, and the London Lions, London's only team in the British Basketball League team. Within travel, investments include AeroCRS, WorldTicket, Air Black Box and the ultra-low-cost carriers, Flair and Bonza.

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COMMERCIAL AVIATION

LTAS, a Division of COMSovereign Awarded $8.4 Million Multi-Unit Aerostat Subcontract from U.S. Government Prime Contractor

COMSovereign Holding Corp. | January 24, 2022

COMSovereign Holding Corp. (NASDAQ: COMS and COMSP) ("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE Advanced and 5G communication systems and solutions today announced that its Lighter Than Air Systems ("LTAS") subsidiary, dba Drone Aviation, has been awarded a multi-unit, $8.4 million subcontract from a U.S. Government prime contractor for its Winch Aerostat Small Platform ("WASP") and related support services. Based on current production scheduling, Drone Aviation anticipates the initial unit fulfillment under this subcontract to start in May 2022. "Today's award for new WASP systems is a major endorsement of our unique, rapidly deployable tethered aerostat technology. It was the technology and operating advantages of our WASP aerostat that resulted in our selection for this award. We are excited to begin working with our new prime contractor partner on this program and to helping this important government customer meet their mission requirements, Our Sky Sovereign business unit enters 2022 with significant growing interest in its tethered aerial platforms for both government and commercial end-users. Although we have seen several contract awards delayed through the course of 2021, this award gives us reason to be optimistic that those delays will ease during 2022 and we are looking forward to achieving several new milestones in the coming months." -Dan Hodges, Chairman and CEO of COMSovereign Holding Corp. The WASP is a highly tactical and mobile aerostat system which can be operated by a crew of two and can provide day/night video, secure multi-frequency and multi-wave form wireless communication range extension capability from an unimproved site or while being towed. U.S. Army soldier-operated and DHS agent-operated WASP systems have accumulated thousands of flight hours across the U.S., Middle East and Africa. Operating at altitudes of up to 1,500 feet AGL, the WASP system can significantly extend Intelligence, Surveillance and Reconnaissance ("ISR") capabilities and secure communications in remote and austere locations. The systems can be rapidly configured to support a variety of mission requirements for days, weeks or months with customized payloads. About COMSovereign Holding Corp. COMSovereign Holding Corp. (Nasdaq: COMS and COMSP) has assembled a portfolio of communications technology companies that enhance connectivity across the entire network. By combining strategic acquisitions with organic research and development efforts, COMSovereign has built a U.S.-based communications solution provider able to deliver end-to-end 4G LTE Advanced and 5G-NR telecom solutions to network operators, enterprises, and governments.

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BUSINESS AVIATION

AerAdvise Adds Additional Aircraft Types to Part-CAMO Approval and Receives Airworthiness Review Privileges

AerAdvise | December 22, 2021

AerAdvise are pleased to announce they have extended the part-CAMO Terms of Approval to include the following aircraft types; B737 MAX, A319/A320/A321 NEO, A330, A350, B787, ATR 42, ATR 72, E190, E195 and Bombardier Q400. These approvals are in addition to the existing approvals for B737 NG and A318/A319/A320/A321. The AerAdvise CAMO approval now includes the authorisation to perform Airworthiness Reviews on each of these aircraft types. "We would like to thank all who were involved in getting these approvals. The additional capabilities will be a useful addition to our portfolio of services for all our existing and future customers." -AerAdvise CAMO team Subsequent to receiving the approval, AerAdvise completed its first Airworthiness Review Certificate recommendation for Emerald Airlines in December.

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