Paslay Group | February 24, 2022
Paslay Group, previously Paslay Management Group, the award-winning airport development management firm known for its Executive Program Management services at major airport capital developments across the US, is pleased to announce a comprehensive expansion of its services by introducing three independent companies under the new Paslay Group name.
These companies, including Executive Program Management, Development, and Advisory Services, represent a heightened dedication to client service and an emphasis on agility and subject matter expertise. Each team is led by a tenured industry expert with decades of experience in the industry and will operate independently with the ability to pull from the expertise of all three companies to respond to unique client needs and react to rapidly changing airport realities.
"Airports are faced with a unique set of challenges compared to most other businesses; they have to manage private sector profitability pressure while operating under the scrutiny of a public sector entity, This requires creative solutions to diversify revenue streams, address legacy business models, and execute timely and cost-efficient capital development. This restructuring will position the Paslay Group to provide a greater service offering to our airport clients, large or small, around the country as they face these ever-evolving challenges."
-Clay Paslay, CEO and Managing Partner of the Paslay Group.
Executive Program Management, the legacy offering of Paslay Group led by President Paul Blue, specializes in helping owners plan and manage large and complex multi-billion-dollar airport capital development programs.
Development is led by President John Terrell and focuses on master land use planning and strategic commercial development projects for airports, municipalities, and private enterprises as both a consultant and developer.
President Margaret McKeough leads Advisory Services, which focuses on providing airport executives with enterprise-level business strategy consulting to optimize financial results and improve business performance for long-term airport success. Critical areas of consultative expertise include enterprise-level performance, concessions development, airport-airline negotiations, and executive leadership.
About Paslay Group
Paslay Group is an award-winning professional management firm led by former airport executives and local government veterans dedicated to elevating airport success. It is comprised of three independent, specialized teams, including Executive Program Management, Development, and Advisory Services.
Aviation Capital Group | April 13, 2022
Aviation Capital Group LLC (“ACG”) announced today the secured financing of two Airbus A321neo LR aircraft for TAP Air Portugal (“TAP”).
This financing marks the fifth use by ACG’s Aircraft Financing Solutions (“AFS”) program of its $650 million secured funding facility. This allowed ACG to provide a senior secured loan to TAP and to partner with Novus Aviation Capital (“Novus”), who provided complementary mezzanine financing. Together, ACG and Novus were able to offer TAP an attractive and comprehensive financing solution.
“ACG is grateful to have had the opportunity to work with TAP and Novus on this financing. We were able to draw upon our established relationship with Novus to effectively meld the senior and junior loans and to provide TAP with timely and efficient financing. Moreover, we were finally able to bring to fruition ACG’s long held desire to work with TAP again,” said Andrew Falk, Managing Director of ACG.
“We are delighted to complete this transaction with both ACG and TAP, continuing to support an existing airline customer. Not only are we building on our relationship with this additional financing for TAP, but we are also very proud to have a strong foundation with ACG that will allow both parties to collaborate on future opportunities. This debt structure is an attractive value proposition and the combination of asset type and stakeholders involved makes it appealing for both Novus and Tamweel Aviation Finance, one of the industry’s leading mezzanine loan providers.”
Mamoun Kuzbari, Chief Commercial Officer, Novus Aviation Capital
“TAP is very pleased to work with ACG and Novus on this financing and we are very confident that these two additional A321neo LR aircraft that are joining our fleet, already one of the youngest and most efficient in the world, will contribute to the success of our airline,” said Gonçalo Pires, Chief Financial Officer of TAP Air Portugal.
About Aviation Capital Group
Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with over 440 owned, managed and committed aircraft as of December 31, 2021, which are leased to approximately 90 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.
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.
DESIGN AND ENGINEERING
BIAL | February 22, 2022
Bangalore International Airport Limited (BIAL) – operator of Kempegowda International Airport, Bengaluru (BLR Airport), one of the world's fastest growing airports has signed an agreement with ACES India Private Limited, a wholly owned subsidiary of Advanced Communications and Electronics Systems Company (ACES) for providing Mobile Infrastructure Services, including 5G for 10 years.
The agreement aims to provide Mobile Infrastructure Services to create a modern and intelligent environment for passengers, travellers, residents and visitors of BLR Airport, for a period of 10 years.
Dr. Akram Aburas, CEO of ACES explained ACES vision to expand further across the region as International Neutral Host Champion. He also confirmed that the agreement stipulates that the company will equip the airport's telecom infrastructure to cover it with the latest modern and intelligent technologies providing mobile services, secure better coverage and improve the user experience by raising mobile internet speeds in the airport and the service areas associated with the project. Thus, forming a synchronous 10-year partnership with BIAL's expansion vision for 'BLR Airport'.
Dr. Khalid Al Mashouq, CTO of ACES assured that with the signing of the project, ACES is committed to provide the latest Mobile Telecom network service for the public area and thus supporting social and commercial activities to passengers at BLR Airport all year round. This airport being one of the core elements in the country's infrastructure is considered as one of the most prestigious projects.
BIAL Management expressed their pride in partnering with ACES, which aims to equip and develop infrastructure with the latest means of wireless communications.
The event was witnessed and attended by ACES India Pvt. Ltd. Director Mr. Mohammed N. Mazher and senior officials from BIAL's ICT, Procurement, Finance, and Legal departments.
ACES India Private Limited is a wholly owned subsidiary of Advanced Communications and Electronics Systems (ACES). ACES is one of the leading international companies in the Kingdom of Saudi Arabia, South East Asia and the Middle East in implementing the infrastructure of mega projects. Several important projects have already been implemented, most notably the expansion of the Holy Mosque in Makkah, the Riyadh Metro Public Transport Project and King Khalid International Airport in Riyadh, as well as several other international projects.
Bangalore International Airport Limited (BIAL) began operations in May 2008 and plays a key role in driving the economy of the region – offering connectivity to key destinations in India and across the globe. It is currently the busiest airport in South India and the third in the Country, having welcomed 33.65 million passengers in CY 2019. BLR Airport was recognised as the Best Regional Airport in India & Central Asia at the 2020 Skytrax World Airport Awards, for the fifth time in 11 years. The Airport won the Best Airport Staff in India and Central Asia at the 2021 Skytrax Awards.