BBAM Limited Partnership | February 07, 2022
BBAM Limited Partnership (BBAM), a world leader in aircraft leasing, announced that it has closed its latest flagship aircraft leasing fund, Incline Aviation II, with total capital commitments of approximately $1.5 billion.
A diverse group of institutional investors committed to Incline Aviation II, including some of the world's largest public and private employee pension plans and sovereign wealth funds. The fund attracted a mix of repeat and first-time investors.
"We appreciate the strong backing from existing and new investors that made our second Incline Aviation fund closing a huge success, We have been actively investing and are excited about the opportunity to generate attractive returns for our investors while partnering with our airline clients globally."
-Steve Zissis, President and Chief Executive Officer of BBAM.
Incline Aviation II has deployed approximately $318.0 million of equity commitments across 31 aircraft investments as of December 31, 2021.
Incline Aviation II continues BBAM's successful aviation investment strategy with a fund dedicated to investing in leased commercial aircraft. Incline Aviation I, a first-of-its-kind multi-strategy fund, closed in 2017 with total capital commitments of $931 million.
BBAM is the world's largest dedicated manager of investments in leased commercial jet aircraft, and has provided more than 70 airline customers globally with fleet and financing solutions over more than three decades. With more than 450 aircraft and $21 billion of assets under management, BBAM employs over 130 professionals at its headquarters in San Francisco and offices around the world, located in Tokyo, Singapore, Zurich, Dublin, Puerto Rico, and Santiago.
Boeing | April 08, 2022
Boeing Company and Microsoft Corp. on Wednesday announced they are deepening their strategic partnership to accelerate Boeing's digital transformation. Through the expanded collaboration, Boeing will leverage the Microsoft Cloud and its AI capabilities to update its technology infrastructure and mission-critical applications with intelligent new solutions that are data driven, further opening new ways of working, operating and doing business.
"Today's announcement represents a significant investment in Boeing's digital future. Our strategic partnership with Microsoft will help us realize our cloud strategy by removing infrastructure restraints, properly scaling to unlock innovation and further strengthening our commitment to sustainable operations," said Susan Doniz, Boeing chief information officer and senior vice president of Information Technology & Data Analytics. "Microsoft's demonstrated partnership approach, trusted cloud technologies and deep industry experience will help us achieve our transformation goals and strengthen Boeing's digital foundation."
"Boeing and Microsoft have been working together for more than two decades, and this partnership builds on that history to support Boeing's digital future by helping it optimize operations and develop digital solutions that will benefit the global aviation industry. The power of the Microsoft Cloud and its AI capabilities will serve as the core component to Boeing's digital aviation strategy by providing flexible, agile and scalable solutions that are intelligent and data driven on a secure and compliant platform."
Judson Althoff, EVP and chief commercial officer at Microsoft
This partnership builds on a long history of the companies working together. As a leader in aerospace, Boeing was among the first to leverage the Microsoft Cloud, centralizing many of its market-leading digital aviation applications on Microsoft Azure and using artificial intelligence to drive customer outcomes and streamline operations. Today's announcement will enable Boeing to unlock tangible and sustainable value held within its vast data estate and reinforces our mutual commitment to lead aerospace innovation for decades to come.
As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity.
Microsoft enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.
OpenAirlines; easyJet | February 08, 2022
easyJet, Europe's leading airline, has chosen SkyBreathe®, an advanced eco-flying solution to reduce the fuel burn and thus CO2 emissions of their fleet, as part of their ambition to reduce their carbon footprint from flying across Europe.
Most aviation emissions come from fuel consumption and the resulting carbon emissions. SkyBreathe® is an innovative eco-flying solution developed by OpenAirlines. It is based on Cloud, Artificial Intelligence and Big Data and enables airlines to save fuel and reduce their carbon footprint by up to 5%.
Under the agreement, the fuel management software will automatically collect and analyze the data from the 300+ aircraft operated by easyJet and combine them with data from other sources, including payload, weather conditions, maintenance, flight paths, and Air Traffic Control.
The solution will identify the most relevant fuel saving opportunities and generate actionable insights shared with all stakeholders through synthetic and easy-to-read dashboards. Based on this information, the airline will benefit from a thorough understanding of its operations. The solution allows for the implementation of the most efficient procedures on the ground (pushback, taxi, takeoff, turnaround, etc.) and during flight (climb, cruise, approach, landing, etc.) to maximize carbon reduction.
"easyJet has committed to reaching net-zero carbon emissions flying by 2050 and so we are working with a range of partners to reduce our carbon emissions today as well as accelerate the development of carbon-free technology in the future. The adoption of SkyBreathe® enables us to more easily identify where improvements can be made now, which will play an important role in reducing our carbon emissions with immediate and concrete results. We continue to offset the carbon emissions from the fuel used for all our flights,"
- Captain David Morgan, Director of Flight Operations at easyJet.
"Today, our industry faces many challenges, but also an unprecedented opportunity to transform the way we fly. It is more important than ever for airlines to operate more sustainably and easyJet is taking full responsibility and leading the way to address the carbon impact from its flights. We're delighted to be working with such an enthusiastic and dedicated partner,"
- Alexandre Feray, CEO, OpenAirlines.
easyJet joins the very active community of 50+ airlines worldwide today using SkyBreathe®, including Air France, Norwegian, IndiGo, Flydubai, and Atlas Air.
easyJet is Europe's leading airline offering a unique and winning combination of the best route network connecting Europe's primary airports, with great value fares and friendly service. easyJet flies on more of Europe's most popular routes than any other airline and carried more than 96 million passengers in 2019 – more than 16 million travelling for business. The airline has over 300 aircraft on nearly 1000 routes to more than 150 airports across 35 countries. Over 300 million Europeans live within one hour's drive of an easyJet airport. easyJet aims to be a good corporate citizen, employing people on local contracts in eight countries across Europe in full compliance with national laws and recognising their trade unions. The airline supports several local charities and has a corporate partnership with UNICEF which has raised over £14m for the most vulnerable children since it was established in 2012.
Based on the observation that every year, nearly 660 million tons of CO2 are emitted by airplanes in the world - representing 20 000kg of CO2 per second, OpenAirlines decided to act by developing innovative solutions to help airlines reduce their environmental impact and costs. OpenAirlines has drawn on 7 years of R&D before launching its eco-flying software SkyBreathe®. Relying on big data algorithms, artificial intelligence, and machine learning, the software automatically analyzes the large sum of data available in aircraft black boxes to provide recommendations to airlines and pilots that help them reduce their fuel consumption and CO2 emissions. In 2018, OpenAirlines continues its growth and begins the development of a new module, called SkyBreathe® OnBoard, designed to be embedded in the cockpit to give recommendations to pilots in real-time. In 2021, the platform is completed by SkyBreathe® APM, an innovative solution that continuously monitors aircraft performance with an up-to-date view of the entire fleet health.
Global Crossing Airlines | April 07, 2022
Global Crossing Airlines Group, Inc. and OSM Aviation Academy announce a new partnership which will give GlobalX access to a pipeline of pilot students planning to transition to the airline.
The program, named XDirect™, will partner to develop a 2 year advanced training program that will place graduate pilots into GlobalX as First Officers who are line-ready for our Airbus A320 family fleet. The program graduates will have enhanced Airline industry training such as CRM (multi crew concept) and FAA Part 121 training philosophy and requirements. The program has been developed to allow new pilots to train the way that GlobalX does from day one in conjunction with the requirements of FAA commercial and ATP licenses, ensuring a consistent training transition. The partnership will allow GlobalX long term access to highly qualified pilots when they reach the minimum required ATP hours, after successfully completing their Commercial and Instructors Certificates.
OSM Aviation Academy students will progress through the OSM Cadet Pilot program and continue to tailor their experience to the needs of a narrowbody aircraft pilot. Highlights of the training program include ATPL ready airline pilots, Fast Track program to GlobalX, Multi-year cooperation agreement between OSM Aviation Academy and GlobalX. Core to the program is a scholarship program that will help to encourage women and others who would not typically be able to become a commercial pilot. GlobalX and OSM intend to train up to fifteen First Officer Candidates in the first year of the program, twenty in the second, and then more than thirty each subsequent year of the program. OSM operates a similar program with Norse Atlantic Airways in Norway.
The program takes 12 months to earn all your flight certificates and ratings including, private pilot, ATP advanced theory, instrument rating, commercial single, and commercial multi engine, CFI, CFI-I, and UPRT.
After the first 12 months, the cadet pilot will join OSM Aviation as a flight instructor until reaching the ATP minimum required hours where they will then transfer to GlobalX to complete the ATP/CTP, and A320 Type Rating. The cadet pilot will join GlobalX as a first officer.
“OSM Aviation Academy is a world class academy for developing top-notch airline pilots, making them the perfect match as we continue to grow our fleet.”
Juan Nunez, COO and Director of Operations (119) of GlobalX
“With this unique agreement we’ve shaped the future of the aviation industry, making flight training more attainable. At the same time producing the top airline ready pilots who meet the high standards set forth by GlobalX Airlines. After getting to know the culture at GlobalX it made the decision to create this partnership between OSM Aviation Academy and GlobalX a must,” Antonio Tur, CEO and Managing Director of OSM Aviation Academy the Americas, said in a statement.
About Global Crossing Airlines
GlobalX is a US 121 domestic flag and supplemental airline flying the Airbus A320 family aircraft. GlobalX flies as an ACMI and charter airline serving the US, Caribbean, and Latin American markets.
About OSM Aviation Academy
OSM Aviation Academy has trained and educated pilots since 1963 and is shaping the future of the aviation by providing an excellent education for next generation of pilots. OSMAA promotes inclusion and diversity in the aviation industry to ensure that there will be enough qualified and highly trained pilots in the years to come. The academy has training locations in the United States, Norway and Sweden.