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.
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.
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.
Simple Flying | December 15, 2021
Qantas is returning to Rome with a seasonal service to run from June 2022 through to October. The three times a week flights will see the Australian airline return to Italy after an 18-year absence. The flights will also mark Qantas’ return to continental Europe.
From June 22, 2022, QF5 will push back from Sydney at 17:55 every Monday, Wednesday, and Saturday for the four-hour and 55-minute hop over to Perth. After a 90 minute stopover, the flight leaves Perth at 22:20 for the longer sector up to Rome, landing there at 08:45 the following day after 16 and a half hours in the air.
The return flight, QF6, departs Rome’s Fiumicino International Airport at 10:50 every Tuesday, Thursday, and Sunday. The 15 hour and 45 minute flight lands in Perth at 08:35 the following day. After 90 minutes on the ground, QF6 takes off for Sydney at 10:05, landing there four hours later at 16:05.
Qantas will deploy its long-haul workhorse, the Boeing 787-9, on the route. The aircraft carries 236 passengers including 166 passengers in economy class, 28 passengers in premium economy, and 42 passengers in business class.
Qantas rekindles its links with Italy
Qantas has a history with Rome, flying there continuously between 1948 and 2003. The cessation of flights to Rome broadly coincided with Qantas ending flights to several European destinations. Alitalia also once flew between Australia and Italy but ended regular flights in 1998.
Since then, travelers flying between Australia and Italy have had to connect in cities like Singapore or Dubai. This is despite significant numbers of travelers flying between the two countries.
“Italy is the largest market for us in continental Europe for people visiting family and friends from Australia, the Rome flights will also give passengers another option for reaching onward destinations across the Mediterranean and southern Europe through Qantas’ network of partners."
-Qantas CEO Alan Joyce on Wednesday.
The Rome flights will complement Qantas’ Melbourne – Perth – London flights. These flights are slated to be running twice a day by mid-2022. It is also a win for Perth Airport after temporarily losing its stopover status to Darwin over the southern summer flying season.
However, by mid-2022, Perth Airport will once again become the only Australian city offering nonstop flights to both the United Kingdom and continental Europe.
Perth Airport back on the radar
International numbers have fallen by 97% at Perth Airport since the onset of COVID-19. Earlier this week, the airport’s Chief Executive Officer Kevin Brown was relatively downbeat when he spoke to The Australian Financial Review about the prospects of international airline activity significantly picking up there in the short to medium term.
His comments to the newspaper also suggested he wasn’t expecting any new international routes anytime soon. That might have been a canny throw off or it might have been the truth. Either way, Wednesday morning’s announcement from Qantas is helping put Perth back on the map.
IBS Software | May 17, 2022
Oman Air has partnered with IBS Software to fully digitalize its staff travel program, delivering a highly configurable, self-service platform for employees to book and manage complex leisure travel, annual leave travel and duty travel policies.
Award-winning Oman Air overhauled its on-premise legacy system with IBS Software's SaaS-based iFly Staff platform to enable self-service for its employees to easily manage their travel needs. The system has also significantly extended usability, allowing users access via any browser or any Android or iOS device, replacing the legacy desktop-only service. iFly Staff now handles all Oman Air active and retired employee's ID travel, supplementary ticketing, and annual leave ticketing, as well as the staff ticketing of partner companies TRANSOM Catering, TRANSOM Handling and TRANSOM SATS Cargo.
The platform's highly configurable business rules engine means Oman Air gains the ability to dynamically update its policies, create and roll out new policies and processes, thus reducing the lead-time to implement policy changes. This has resulted in significant gains on operational efficiency over the last six months since the system went live.
"Our partnership with IBS Software has transformed the staff travel experience, simplifying processes to make it far easier for our employees to manage their personal and corporate travel. Navigating the intricacies of constantly updating travel policies represents a major win for the whole airline – from both an employee satisfaction and operational efficiency perspective."
Dr. Khalid Al Zadjali, Senior Vice President Digital, Oman Air
"The new staff travel system comes as part of Oman Air's ongoing efforts to enhance the benefits and facilities presented to employees," said Hilal Al Siyabi, Senior Vice President, People, Oman Air. "Self-service and mobile capabilities have significantly improved our employees' travel experience while reducing the workload associated with providing facilities."
"It has been a privilege to work with the teams at Oman Air, who are constantly striving to deliver new, innovative services to staff and passengers alike," said Vijay Chakravarthy, Vice President and Head of Staff Travel, IBS Software. "Fully digitalizing processes has allowed them the ability to not only provide superior staff travel functionality and ease of use for users, but also considerably improve Oman Air's internal operations. We're also proud that the deployment of iFly Staff was managed remotely due to Covid-19 travel restrictions."
About IBS Software
IBS Software is a leading SaaS solutions provider to the travel industry globally, managing mission-critical operations for customers in the aviation, tour & cruise and hospitality industries. IBS Software's solutions for the aviation industry cover fleet & crew operations, aircraft maintenance, passenger services, loyalty programs, staff travel and air-cargo management. IBS Software also runs a real time B2B and B2C distribution platform providing hotel room inventory, rates and availability to a global network of hospitality companies and channels. For the tour and cruise industry, IBS provides a comprehensive, customer-centric, digital platform that covers onshore, online and on-board solutions. IBS Software is a Blackstone portfolio company and operates from 15 offices across the world.
About Oman Air
Oman Air, the national airline of the Sultanate of Oman, began its operations in 1993. Initially founded to serve key domestic routes, it has since undergone rapid growth and is today recognized as a major international carrier connecting cities around the world to Oman's spectacular natural beauty, captivating charm and genuine openness. A Five-Star COVID-19 Airline Safety Rating from Skytrax and two consecutive Five-Star Major Airline Ratings from the Airline Passenger Experience Association are among its many industry accolades.
The airline has played a vital role in transforming Muscat into an important traffic hub in the Middle East, supporting adjacent commercial, industrial and tourism activities. With a fleet comprising ultra-modern, fuel-efficient aircraft that feature luxuriously appointed interiors, Oman Air is renowned for its exceptional products and services, both in the air and on the ground, and for the signature Omani hospitality available to guests on every flight.
Ongoing investments in new technologies, innovative products and enhanced guest services have solidified its position as a premium, multi-award-winning airline of outstanding repute. Both Oman Air and Oman Air Holidays proudly display the Safe Travels stamp from the World Travel and Tourism Council (WTTC) for best practices relating to standardized global health and hygiene protocols.
Oceaneering Space | June 10, 2022
Oceaneering International announces that Oceaneering Space Systems a division of the Aerospace and Defense Technologies segment, will serve on a team led by Collins Aerospace a Raytheon Technologies business selected by the National Aeronautics and Space Administration to develop next-generation extravehicular spacesuits.
NASA is enlisting commercial partners to develop, build, and maintain new spacesuit technology. The Collins team, which also includes ILC Dover, has decades of experience supplying spacesuits to NASA. Collins is one of two companies that received access to a NASA contract for Extravehicular Activity Services worth up to $3.5 billion over 12 years to supply spacesuits for future missions.
Next-generation spacesuits require new technologies for missions targeted to begin as early as 2025 through 2034. These new suits are expected to allow astronauts to work outside the International Space Station, explore the lunar surface on Artemis missions, and prepare for human missions to Mars. Additionally, the suits are expected to accommodate nearly every astronaut body type, provide added flexibility to allow for increased mission times, and be adaptable to evolving technology enhancements as required.
“These suits will provide a better fit and comfort for the astronauts, increasing their mobility to safely operate on the surface of the moon,” said Carl Walz, former NASA astronaut and longtime Director of Business Development for OSS.
“We are thrilled to work alongside teammates Collins and ILC Dover on this xEVAS contract to deliver the most capable spacesuit systems possible to get NASA astronauts to the moon and beyond. This award builds upon Oceaneering’s longstanding relationships with Collins, ILC Dover and NASA and its experience in prior spacesuit programs. Oceaneering has proudly enabled successful space missions for NASA alongside our industry partners for over 40 years, delivering thousands of products and mission support for the Space Shuttle, the International Space Station, and its international partners’ extravehicular activity.”
Rod Larson, President and Chief Executive Officer
This release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the expectations, beliefs, future expected business and financial performance and prospects of Oceaneering. More specifically, the forward-looking statements in this press release include the statements concerning product delivery expectations and the timing thereof. The forward-looking statements included in this release are based on Oceaneering’s current expectations and are subject to certain risks, assumptions, trends and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. These include, among other factors, risks and uncertainties related to counterparty performance under contracts and market conditions and other economic factors affecting Oceaneering’s business. For a more complete discussion of these and other risk factors, please see Oceaneering’s latest annual report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward-looking statement.
About Oceaneering Space Systems
Oceaneering Space Systems is a leader in specialized engineering for harsh environments from sea to space. We complete turnkey design, development, manufacturing, certification, maintenance, testing and sustaining engineering for space-based robotics and automation, satellite servicing tools and equipment, human space flight systems and thermal protection systems. Our diverse engineering experience and precision manufacturing capabilities enable us to deliver product quality and mission assurance while maintaining an uncompromised focus on safety.