Aerkomm Inc. | January 20, 2022
Aerkomm Inc. ("Aerkomm" or "the Company") (Euronext Paris: AKOM;OTCQX: AKOM), a development stage service provider of In-Flight Entertainment and Connectivity solutions for the airline industry using Ka-band technology, today announced that it entered into a joint venture (the "Joint Venture") agreement (the "Agreement") with Sakai Display Products Corporation ("SDPJ"), a company incorporated under the laws of Japan, and PanelSemi Corporation ("PanelSemi"), a company incorporated under the laws of Taiwan, on January 10, 2022.
Through this Joint Venture, Aerkomm will develop and commercialize a tile antenna ("Tile Antenna"). The Joint Venture will be operated through a to-be-established California corporation ("Newco"), which will be owned initially 100% by SDPJ. Aerkomm will license to Newco its intellectual property, know-how and research and development results related to the Tile Antenna. SDPJ will provide Newco with working capital to develop the Tile Antenna proof of concept ("POC"). Upon approval of the POC, Aerkomm will contribute the intellectual property to Newco in exchange for 52% of the equity interest in Newco, and SDPJ and PanelSemi collectively will contribute $20 million in cash (less the contributions funded prior to the POC approval). SDPJ will hold 45% of Newco's equity interest and PanelSemi will hold the remaining 3%.
Moreover, according to the Agreement, SDPJ will invest €7.5 million in Aerkomm via private placement upon approval of the POC.
In the event that the POC is not achieved within 11 months following the signing of the Agreement, the Joint Venture will be terminated, at which time we will terminate the intellectual property license to Newco and Newco will remain 100% owned by SDPJ.
"This agreement marks the first step in our partnership with SDPJ and PanelSemi. The joint venture will facilitate the development of a tile antenna to further our technological capabilities and better serve our customers. Looking ahead, we look forward to opportunities to expand our business and developing new industry-leading technology."
-Mr. Louis Giordimaina, CEO of Aerkomm
About Aerkomm Inc.
Aerkomm Inc. (Euronext Paris: AKOM;OTCQX: AKOM), operating through its wholly owned subsidiary, Aircom Pacific, Inc., is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry. The Company strives to become a leading provider of a wide range of in-flight broadband entertainment and connectivity services, including Wi-Fi connectivity, cellular networks, movies, gaming, live television, and music. Aerkomm aims to reshape the market for in-flight entertainment and connectivity services by offering on-board connectivity to its airline partners and passengers for free, generating revenue through advertising and on-board transactions.
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.
Wheels Up | January 04, 2022
Wheels Up Experience Inc. (NYSE:UP), the leading brand in private aviation, today, announced the appointment of Stevens J. Sainte-Rose as Chief People Officer. In this role, Sainte-Rose will lead all aspects of human resources and culture at Wheels Up including organizational design, talent acquisition, development and retention, as well as diversity and inclusion functions. Sainte-Rose will report directly to Wheels Up Chairman and CEO, Kenny Dichter.
"Stevens brings a unique mix of long-term, strategic planning with the agility and speed necessary to operate in a rapidly growing business, His experience in consumer packaged goods and retail across global brands is a huge asset to Wheels Up as we continue to attract world-class talent, continue to build our culture through diversity and inclusion, and reinforce our foundation as a high-performance organization."
-Wheels Up Chairman and CEO, Kenny Dichter.
As a seasoned HR veteran, Sainte-Rose has expertise across a diverse range of industries including fast moving consumer goods, retail, hospitality, food service, manufacturing & production, and managed services. Stevens previously served as Senior Vice President of HR at The Coca-Cola Company International, as Chief Human Resources Officer at U.S. Walgreens, Chief HR and Transformation Officer at Dawn Foods Global and most recently Chief HR Officer at Parallel Inc. He holds a Master's degree from the University of Pennsylvania in Organizational Dynamics and an undergraduate degree from Cornell University in Industrial & Labor Relations.
"I couldn't be more thrilled to join Wheels Up as Chief People Officer, I have long admired the Wheels Up brand, its disruptive spirit, and am inspired by the vision to build a marketplace in private aviation. I am excited to help accelerate the development of Wheels Up as a growth-minded, high performance culture, with the customer at the center of everything they do."
-Sainte-Rose as Chief People Officer
In addition to the appointment of Sainte-Rose, Wheels Up recently expanded the roles of two members of the Executive Leadership Team: President, Vinayak Hegde, and Chief Marketing Officer, Lee Applbaum. Hegde will now have integrated ownership and accountability for both the demand generation and supply side of the Wheels Up marketplace, which includes all sales functions, member services, account management, technology, product, operations and supply. This seamless connection of supply and demand, and holistic ownership of the functions is a critical step in the delivery of a transformative private aviation marketplace. Additionally, the offices of the Chief Experience Officer and Chief Marketing Officer have been combined under Applbaum to provide integrated ownership of the customer experience funnel from acquisition through loyalty, including a continued focus on building the iconic Wheels Up brand. Both Hegde and Applbaum will continue to report to Dichter.
About Wheels Up
Wheels Up Experience Inc. ("Wheels Up"), a leading demand generator in private aviation, offers a total private aviation solution that includes world-class safety, service, and flexibility through on-demand flights, membership programs, corporate solutions, aircraft management, whole aircraft sales, and commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up is uniquely positioned to offer its Customers and Members access to over 1,500 safety-vetted and verified aircraft. Through the Wheels Up App anyone can search, book, and fly. Wheels Up Connect, Core, and Business memberships provide enhancements such as flight sharing, empty-leg Hot Flights, Shuttle Flights, Shared Flights, signature Wheels Down events, and exclusive member benefits from preeminent lifestyle brands. The Company's ongoing Wheels Up Cares program aligns with philanthropic organizations and initiatives that affect and matter to the Company and its customers, members, stakeholders, families, and friends. The Wheels Up Cares fleet is comprised of five custom painted Beechcraft King Air 350i aircraft; each plane serves as a flying symbol for a specific cause.
SkyThread | January 18, 2022
Jean-Marc Lemaitre has been named Executive Vice President of Customer Success for SkyThread, a blockchain-enabled data-network company providing error-free exchange of data among commercial aviation stakeholders.
"Jean-Marc is a proven leader with extensive experience in the aviation aftermarket and has served in a variety of roles with original equipment manufacturers, He has a great deal of credibility and a reputation for integrity, traits essential for stakeholder trust and confidence, and compatible with the values of the SkyThread team."
-Mark Roboff, Chief Executive Officer of SkyThread.
Lemaitre said digital transformation in the aerospace industry currently is focused primarily on analytics, thus overlooking a key area of improvement that is SkyThread's focus.
"That key area is the ability to rapidly record error-free aviation transactions, which is a far more fruitful pursuit, As the industry struggles to streamline transactions and unleash more than $30 billion in unrealized value, accelerating error-free data exchange among all participants is key to customer success," he said. "I look forward to helping customers streamline transaction processes and accelerate our industry's necessary digital transformation without additional capital investment."
SkyThread is a blockchain-enabled data network provider focused on empowering commercial aviation stakeholders to unleash more than $30 billion in value by rapidly accelerating error-free data exchange among participants. The company has developed a trustworthy, federated system of record coupled with industry-leading validation logic that makes data permanent and unchangeable. We call this authenticating "Data for the Life of the Aircraft." The system is compatible with existing legacy IT systems and requires no capital investment from aviation stakeholders such as airlines, lessors, airplane manufacturers, regulators, and suppliers. SkyThread's intent is for the data exchange's rules to be governed by an independent, consensus-driven, and neutral consortium comprised of diverse industry stakeholders, in which SkyThread plans to be a supplier member.