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Airbus joins Canada’s SAF+ Consortium to accelerate the development of a new Sustainable Aviation Fuel technology

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 #SAF #Decarbonisation #Canada

Toulouse, 15th July 2021– Airbus and the Montreal, Canada-based SAF+ Consortium have signed a Memorandum of Understanding (MoU) to collaborate with major Canadian aviation industry players on sustainable aviation fuel (SAF) development and production in North America. Airbus will be investing through “in-kind” contributions, which consist of technical and certification expertise, economic analysis, communications and advocacy.

Today’s announcement marks the launch of a new Canadian ecosystem dedicated to stimulating the production of SAF and connecting Airbus with prominent Canadian actors spanning the entire aviation value chain to develop a concrete solution that will make low-carbon flying a reality.

The aviation sector is a global industry and while momentum for SAF is growing, particularly in Europe, investment in SAF’s worldwide development is of equal importance to enable the entire sector to achieve significant CO2 emissions reductions around the globe.

“Airbus, alongside many of its customers, is more than convinced the use of SAF is an essential pillar to support the aviation industry’s decarbonisation journey,” says Steven Le Moing, Airbus New Energy Programme Manager. “Building this new Canadian ecosystem alongside the SAF+ Consortium is a key milestone as we continue to push to reach our global 2050 CO2 emissions-reduction targets. This partnership is a perfect example of how Airbus is actively shaping decarbonisation discussions in North America, while demonstrating our commitment to making SAF an economically viable solution available to our customers.”

“SAF+ aims to be a pioneer in the field of SAF, and with the support of visionary partners such as Airbus, we will create a competitive company, able to offer one of the many technological solutions needed to decarbonise the aviation industry,” says Jean Paquin, President and CEO of the SAF+ Consortium.

The SAF+ Consortium brings together a number of key Quebec-based aerospace companies and research institutions, such as Air Transat, Hydro-Quebec, Aéroports de Montréal, Polytechnique Montréal and Aéro Montréal.

The SAF+ Consortium’s goal is to transform Montreal into a sustainable aviation hub in North America through the construction and subsequent operation of a pilot SAF production plant. Situated close to Montreal, this pilot plant will produce a type of SAF known as Power-to-Liquid (PtL), which is an e-fuel consisting of captured carbon dioxide (CO2) synthesised with renewable (green) hydrogen. The process involves capturing CO2 from large industrial emitters and converting it into an alternative fuel. It is estimated that the fuel produced by SAF+ will have an 80% lower carbon footprint compared to conventional jet fuel. The Consortium builds on Air Transat’s commitment to purchase a significant portion
of the future SAF produced at the plant for its all-Airbus fleet.

SAF+ intends to produce SAF as early as the second half of 2021 at its first pilot plant. A commercial project of 30 million liters is planned for 2025.

About Airbus

Airbus pioneers sustainable aerospace for a safe and united world. The Company constantly innovates to provide efficient and technologically advanced solutions in aerospace, defence, and connected services. In commercial aircraft, Airbus offers modern and fuel-efficient airliners and associated services. Airbus is also a European leader in defence and security and one of the world’s leading space businesses. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions and services worldwide.

Airbus has an important footprint in Canada, which is home to the A220 programme. Active in several regions of Canada, Airbus has close to 4,000 employees across the country and more than 23,000 indirect jobs in the aeronautics sector are supported through various collaborations. Airbus works with around 665 suppliers in nine provinces. All Airbus businesses are present in Canada with commercial planes (the A220 programme) in Mirabel, QC, helicopters in Fort Erie, ON and Defence and Space in Ottawa, ON. The wholly owned subsidiaries of Airbus, STELIA Aerospace and NAVBLUE also have installations in the country

About SAF+

SAF+ is a group of Quebec companies working in the field of sustainable fuel production from carbon capture using green hydrogen produced in Quebec. Aiming at producing sustainable fuel for the aviation sector by 2021, the development of a commercial SAF project by 2025, located in the east end of Montreal, will consist of recovering COemissions from industry and transforming them into a clean synthetic fuel with a carbon footprint 80% smaller than traditional aviation fuel.

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Source: https://canadianaviationnews.wordpress.com/2021/07/15/airbus-joins-canadas-saf-consortium-to-accelerate-the-development-of-a-new-sustainable-aviation-fuel-technology/

Aviation

Allegiant reports a profit in the second quarter

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Allegiant Travel Company (Allegiant Air) today reported the following financial results for the second quarter 2021, as well as comparisons to the prior years:

Consolidated Three Months Ended June 30, Percent Change
(unaudited) (in millions, except per share amounts) 2021 2020 2019 YoY Yo2Y
Total operating revenue $ 472.4 $ 133.3 $ 491.8 254.3 (3.9)
Total operating expense 333.6 246.6 383.7 35.3 (13.1)
Operating income (loss) 138.9 (113.3) 108.1 222.6 28.4
Income (loss) before income taxes 122.6 (146.4) 91.8 183.7 33.5
Net income (loss) 95.0 (93.1) 70.5 202.1 34.7
Diluted earnings (loss) per share $ 5.49 $ (5.85) $ 4.33 193.8 26.8
Six Months Ended June 30, Percent Change
(unaudited) (in millions, except per share amounts) 2021 2020 2019 YoY Yo2Y
Total operating revenue $ 751.6 $ 542.5 $ 943.4 38.5 (20.3)
Total operating expense 588.1 766.8 744.2 (23.3) (21.0)
Operating income (loss) 163.5 (224.3) 199.2 172.9 (17.9)
Income (loss) before income taxes 131.2 (277.1) 165.7 147.4 (20.8)
Net income (loss) 101.9 (126.1) 127.7 180.8 (20.2)
Diluted earnings (loss) per share $ 6.04 $ (7.93) $ 7.84 176.2 (23.0)
Consolidated – adjusted Three Months Ended June 30, Percent Change
(unaudited) (in millions, except per share amounts) 2021 2020 2019 YoY Yo2Y
Adjusted operating expense (1) (2) $ 378.6 $ 239.9 $ 383.7 57.8 (1.3)
Adjusted operating income (loss) (1) (2) 93.9 (106.6) 108.1 188.1 (13.1)
Adjusted income (loss) before income taxes (1) (2) 77.6 (119.9) 91.8 164.7 (15.5)
Adjusted net income (loss) (1) (2) 60.0 (94.7) 70.5 163.4 (14.9)
Adjusted diluted earnings (loss) per share (1) (2) $ 3.46 $ (5.96) $ 4.33 158.1 (20.1)
Six Months Ended June 30, Percent Change
(unaudited) (in millions, except per share amounts) 2021 2020 2019 YoY Yo2Y
Adjusted operating expense (1) (2) $ 716.7 $ 594.0 $ 744.2 20.7 (3.7)
Adjusted operating income (loss) (1) (2) 34.9 (51.5) 199.2 167.8 (82.5)
Adjusted income (loss) before income taxes (1) (2) 2.6 (77.7) 165.7 103.3 (98.4)
Adjusted net income (loss) (1) (2) 2.0 (61.4) 127.7 103.3 (98.4)
Adjusted diluted earnings (loss) per share (1) (2) $ 0.12 $ (3.87) $ 7.84 103.1 (98.5)
(1) Adjusted numbers exclude COVID related special charges, the net benefit from the payroll support programs (PSPs), and profit sharing bonus accruals since the operating margin threshold to accrue these bonuses would not have been met for the six months ended June 30, 2021 without the benefits of the PSPs
(2) Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information

“The second quarter marked the return of leisure demand to pre-pandemic levels,” stated Maurice J. Gallagher, Jr., chairman and CEO of Allegiant Travel Company. “Earnings per share came in at $5.49 on a year over two-year revenue decline of just 3.9 percent, with total revenue in June exceeding 2019 levels. We made significant progress towards achieving pre-pandemic unit revenues with TRASM of 10.36 cents (on a load factor of 70.8 percent), up 50 percent from the first quarter. The revenue team did an outstanding job optimizing loads and unit revenues during the quarter. This strong revenue performance, coupled with continued cost discipline as evidenced by our adjusted CASM, excluding fuel (3), of 5.86 cents, led to our adjusted operating margin(1) of 20 percent for the quarter.

“These results suggest we are close if not back to ‘normal’, where we were in the early days of 2020.  We were the first domestic carrier to grow capacity from 2019 levels. Given the reduced operations of the past year, this ramp up came with challenges – delays in infrastructure preparedness at some of our airports, labor constraints, and severe weather. Our operations team has done a great job reacting and adapting to these headwinds. During the third quarter we will continue our growth – capacity will increase nearly 20 percent, year over two-year.

“Last year at this time I stressed the importance of strengthening our liquidity to both weather the storm and position us favorably for growth post-pandemic. The team has done just that. We currently have $1.2 billion of cash on hand, up 79 percent from a year ago. Our total net debt continues to improve at under $400 million, a 52 percent reduction from a year ago. This strong liquidity leaves us well positioned for future growth. The fleet team has executed agreements to acquire 21 additional aircraft since the beginning of the year. These airplanes will all be placed into service by the end of 2022, thus supporting the remainder of this year as well as most of next year’s growth plan.

“The next year will be an exciting one for the company. We are preparing the launch of our new loyalty program in the coming months, Allways Rewards. This program will enable us to further enhance the customer experience. We also recently announced a new partnership with Live Nation venues, Ticketmaster and music festivals – kicking off a multi-year, strategic relationship with the world’s premier live entertainment company. This partnership will ultimately unlock another layer of leisure offerings, further enhancing a one-stop shop for our customer. Finally, we will continue to grow and expand our network, connecting more customers to world-class vacation destinations.

“I cannot thank our 4,000 team members enough for their continued efforts in supporting growth while prioritizing customer safety. Ramping up the operation the past few months has been a challenge, but our team members continue to work hard to support the operation. I could not be more proud of their efforts.”

Second Quarter 2021 Results

  • GAAP earnings per share of $5.49
    • Adjusted earnings per share(1) (2) (3) of $3.46
  • Consolidated EBITDA(2) (3) of $183.3 million yielding an EBITDA margin of 38.8 percent
    • Adjusted EBITDA(1) (2) (3) of $138.3 million yielding an adjusted EBITDA margin of 29.3 percent
  • Total June revenue exceeded June of 2019
  • Total operating revenue was $472.4 million, up 69.3 percent from the first quarter and down 3.9 percent when compared to the second quarter of 2019
    • Sustained yield strength throughout the quarter with yield up 7.8 percent year over two-year on scheduled service capacity increases of 4.5 percent
  • Total average fare of $126.82, up 10.8 percent year over two-year
    • Total ancillary average fare $64.25, up 14.6 percent from 2019 driven primarily by bundled air ancillary offerings, rental car rate strength, and increased cobrand activity
  • TRASM of 10.36 cents, down 5.6 percent year over two-year, and up 50.3 percent from the first quarter 2021
  • Load factor of 70.8%, up nearly 16 percentage points from the first quarter
  • Record-breaking quarter for co-brand activity with June new cardholder acquisitions becoming the highest month in the program’s history and the highest month for cardholder spend, beating the prior monthly spend record by more than 40 percent
    • May marked the third highest acquisition of new cardholders in program history
  • Adjusted operating expense(1) (2) (3) of $378.6 million, down 1.3 percent from second quarter 2019 on total system capacity increase of 3.3 percent
    • Adjusted Operating CASM, excluding fuel (3) of 5.86 cents, flat when compared to the second quarter of 2019
  • Adjusted operating margin(1) of 19.9 percent
  • Expanded the network by adding 29 new routes with four new cities and complementary service in Phoenix with the addition of Phoenix Sky Harbor International Airport, bringing total routes served to 596 and 134 cities
  • Ranked number two among US airlines within the 2021 Airline Quality Ranking

(1) Adjusted numbers exclude COVID related special charges, the net benefit from the payroll support programs, and profit sharing bonus accruals since the operating margin threshold to accrue these bonuses would not have been met for the six months ended June 30, 2021 without the benefits of the PSPs
(2) Denotes a non-GAAP financial measure
(3) Refer to the Non-GAAP Presentation section within this document for further information

Balance Sheet, Cash and Liquidity

  • Total cash and investments at June 30, 2021 were $1.2 billion, up from $728 million at March 31, 2021
    • Cash from operations of $237 million, including the benefit from the payroll support program and federal income tax refund of $12 million related to prior period tax net operating losses
      • Adjusted cash from operations of $176 million, which excludes the $49.2 million net benefit from the PSPs, and $12 million federal tax refund
    • Debt principal payments of $48 million during the quarter
      • Includes prepayment of debt secured by five aircraft
    • $65 million used for cash capital expenditures
    • Raised $335 million from issuance of 1.6 million shares at a price of $219 per share during the second quarter
  • Second quarter interest expense of $17 million, down 20 percent year over two-year
  • Expect to receive $136 million in federal tax refunds during the second half of the year related to 2020 net operating losses
  • Air traffic liability at June 30, 2021 was $437 million
    • Balance related to future scheduled flights is $305 million
    • Balance related to travel vouchers issued for future use is $132 million, a 26 percent reduction from March 31, 2021

Capital Expenditures

  • Second quarter capital expenditures related to aircraft, engines and induction costs were $46 million and $19 million in other airline capital expenditures
  • Second quarter capital expenditures related to deferred heavy maintenance were $23 million
  • Executed agreements to acquire 21 incremental aircraft year-to-date
Guidance, subject to revision Previous Current
Third Quarter 2021 guidance
System ASMs – year over two-year change(1) 16.0 to 20.0%
Scheduled Service  ASMs – year over two-year change(1) 16.0 to 20.0%
Total operating revenue – year over two-year change (1) Up 3.5% to 7.5%
Fuel cost per gallon $ 2.11
Full year 2021 guidance
CAPEX
Aircraft, engines and induction costs (millions) $115 to $125 $115 to $125
Capitalized Airbus deferred heavy maintenance (millions) $50 to $60 $50 to $60
Other capital expenditures (millions) $40 to $50 $40 to $50
Interest expense $65 to $70 $65 to $70
Recurring principal payments(2) $170 to $180 $170 to $180
(1) Year over two-year percentage changes compare 2021 to 2019
(2) Excludes $111 million of principal repayments related to the maturity of our revolving credit facility and the refinancing of three A320 aircraft during the first quarter 2021

Aircraft Fleet Plan by End of Period

Aircraft – (seats per AC) 2Q21 3Q21 YE21
A319 (156 seats) 35 35 35
A320 (177 seats) 23 23 22
A320 (186 seats) 45 49 51
Total 103 107 108
The table above is provided based on the company’s current plans and is subject to change

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Source: https://worldairlinenews.com/2021/07/28/allegiant-reports-a-profit-in-the-second-quarter/

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United becomes the first U.S. airline to offer economy customers an option to pre-order snacks and beverages

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United Airlines made this announcement:

Starting today on select flights, all United customers – no matter what cabin of service they’re flying in – can use the airline’s award-winning mobile app and website to pre-order meals, snacks and beverages up to five days before they’re scheduled to travel. United is the first and only U.S. airline to offer economy customers the option to pre-order snacks and beverages, a reflection of the customer experience transformation underway at the airline.

United’s pre-order technology is an extension of the airline’s contactless payment platform that allows customers to store payment information in a digital wallet. United’s pre-order option is now available on select flights departing from Chicago to HonoluluOrange County, CA Sacramento, CA and San Diego, and will expand to all flights over 1,500 miles by early fall.

How It Works

  • Five days prior to departure, customers will see an option in the Reservation Details section of the United app or on United.com to pre-order food and beverage items available for their specific flight. Customers will also receive an email notifying them when pre-order is available.
  • In economy cabins, customers can pre-order snacks and beverages from United’s buy-on-board menu. They will be asked to enter their credit card information but will not be charged until the items are served to them onboard.
  • In premium cabins, customers can select their meal option directly from the United app or website. Once they make their selection, they will get a receipt emailed to them.

About United’s Contactless Payment Technology

For customers looking to purchase drinks and snack items while onboard, United’s contactless payment platform allows them to store their payment information in a digital wallet on the United app and on United.com prior to departure.

  • Once in flight, customers can access a menu to view available items either on the United app or in Hemispheres® magazine.
  • Rather than handing the flight attendant a credit card, the flight attendant will ask for the customer’s name and seat to confirm the card on file.
  • Once confirmed, customers will receive their products and the card on file will be charged.

About United’s Newly Enhanced Buy-On-Board Menu

United recently unveiled its refreshed buy-on-board menu, which includes a wide variety of food and beverage offerings including:

  • Adult Beverage Options: Mango White Claw®; red, white and sparkling wine, and new beer options such as Breckenridge Brewery Juice Drop Hazy IPA and Michelob ULTRA®.
  • Three New Snack Boxes: A Tapas snack box with European-inspired offerings; a Takeoff snack box with high-protein options; a Recline snack box with movie theater themed treats.
  • A la Carte Snack Options: Including chips, dips, trail mix and chocolate-covered dried fruit.

New Domestic Premium Cabin Menu Items

United also introduced brand-new meal offerings to customers seated in domestic premium cabins on flights over 1,500 miles and hub-to-hub flights over 800 miles.

  • The enhanced meal service includes a choice of entrees – including fresher options like egg scramble with plant-based chorizo and grilled chicken breast with orzo and lemon basil pesto – sides and dessert.
  • United has also teamed with Eli’s Cheesecake to create a uniquely United chocolate pie flavor called “Pie in the Sky.”
  • The meals will be served on one tray, with items individually wrapped, to limit person-to-person contact and further the safety of our employees and customers.

United’s pre-order technology is available beginning July 28 for flights departing on or after August 2. The technology will initially be available on flights from Chicago O’Hare International Airport to San Diego International Airport, Sacramento International Airport, Orange County’s John Wayne Airport and Honolulu’s Daniel K. Inouye International Airport.

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Source: https://worldairlinenews.com/2021/07/28/united-becomes-the-first-u-s-airline-to-offer-economy-customers-an-option-to-pre-order-snacks-and-beverages/

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United Airlines to operate more than 40 weekly flights as England re-opens to U.S. travelers

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United Airlines made this announcement:

With today’s announcement of England reopening to fully vaccinated travelers from the U.S. beginning Aug 2, United Airlines is making it easier for business and leisure customers to jet across the pond with the addition of flights to London.

In August, United will have six daily flights between the U.S. and London, including a second daily flight from Washington, D.C. and increasing service from Houston to daily. United looks forward to resuming additional London service in the coming months as well as launching new nonstop service between Boston and London. Customers traveling to England must be fully vaccinated in the U.S. with vaccines that have been approved by the FDA and must take a test before departure as well as a PCR test within the first two days of arrival. Passengers vaccinated in the U.S. will also need to complete a passenger locator form prior to traveling to England and provide proof of U.S. residency.

United in England

United has provided service to London Heathrow for nearly 30 years and over the course of the pandemic has maintained continuous service between the U.S. and London. In August, United is increasing its service from Houston to London from five times weekly to daily and adding a second daily flight from Washington, D.C. United will continue operating daily flights to London from ChicagoNew York/NewarkSan Francisco. The airline plans to continue offering these six daily flights in September.

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Source: https://worldairlinenews.com/2021/07/28/united-airlines-to-operate-more-than-40-weekly-flights-as-england-re-opens-to-u-s-travelers/

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United Airlines to operate more than 40 weekly flights as England re-opens to U.S. travelers

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on

United Airlines made this announcement:

With today’s announcement of England reopening to fully vaccinated travelers from the U.S. beginning Aug 2, United Airlines is making it easier for business and leisure customers to jet across the pond with the addition of flights to London.

In August, United will have six daily flights between the U.S. and London, including a second daily flight from Washington, D.C. and increasing service from Houston to daily. United looks forward to resuming additional London service in the coming months as well as launching new nonstop service between Boston and London. Customers traveling to England must be fully vaccinated in the U.S. with vaccines that have been approved by the FDA and must take a test before departure as well as a PCR test within the first two days of arrival. Passengers vaccinated in the U.S. will also need to complete a passenger locator form prior to traveling to England and provide proof of U.S. residency.

United in England

United has provided service to London Heathrow for nearly 30 years and over the course of the pandemic has maintained continuous service between the U.S. and London. In August, United is increasing its service from Houston to London from five times weekly to daily and adding a second daily flight from Washington, D.C. United will continue operating daily flights to London from ChicagoNew York/NewarkSan Francisco. The airline plans to continue offering these six daily flights in September.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://worldairlinenews.com/2021/07/28/united-airlines-to-operate-more-than-40-weekly-flights-as-england-re-opens-to-u-s-travelers/

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