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North America Newsletter 26 August

North America Newsletter 26 August

Air Canada Welcomes Transat Shareholders Approval

Air Canada announced 23rd August by Transat A.T. Inc.of the approval, by a majority of nearly 95% of its shareholders, of its Arrangement Agreement with Air Canada under which Air Canada will acquire all its issued and outstanding shares. “We are pleased with the outcome of Transat’s special meeting and grateful to Transat shareholders for this overwhelming show of support,” said Calin Rovinescu, President and Chief Executive Officer of Air Canada. “We will build a combined company greater than the sum of its parts that we can all be proud of.  We now look forward to engaging with Transport Canada and the Competition Bureau to secure the required approvals to complete the transaction and welcome the opportunity to demonstrate the many benefits it will bring”.

Air Lease Corporation Announces Delivery of First of Eight Boeing 787-10 Aircraft to Vietnam Airlines

Air Lease Corporation announced 15Th August the delivery of one new Boeing 787-10 aircraft on long-term lease to Vietnam Airlines.  Featuring GEnx-1B74/75 engines, this Dreamliner aircraft is the first of eight 787-10s confirmed to deliver to Vietnam Airlines through 2021 from ALC’s order book with Boeing. “ALC is extremely pleased to announce this important first 787-10 delivery to Vietnam Airlines with Boeing and be the first lessor to introduce the airline to the -10,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “This first of eight 787-10s from ALC will significantly contribute to Vietnam Airlines’ ongoing major widebody fleet upgrade with the latest technology.  ALC values our long-time role as an advisor when planning the growth and replacement of Vietnam Airlines’ fleet to maintain the airline’s leading position in Southeast Asia and worldwide.”

Cargojet Announces Strategic Agreement with Amazon to Provide Air-Transportation Services

Cargojet announced 23rd August it has entered into a new strategic agreement with Amazon.com NV Investment Holdings LLC, an affiliate of Amazon.com.ca, Inc. Cargojet is a key air cargo carrier for Amazon’s middle mile transportation in Canada. This agreement is in conjunction with Amazon’s and Cargojet’s existing commercial agreement for overnight air cargo services and charters and to incentivize growth in Amazon’s utilization of those services to support fast delivery for Amazon customers in Canada. Under the new strategic agreement, Cargojet will issue warrants to Amazon to purchase variable voting shares that will vest based on the achievement of commercial milestones related to Amazon’s business with Cargojet. Cargojet expects the agreement to generate additional revenue growth and be meaningfully accretive to Cargojet’s earnings and cash flows over time.

United Airlines Announces 12 New and Expanded International Destinations from Chicago, Denver, New York/Newark and San Francisco

United Airlines 22nd August unveiled an expanded international schedule from its hubs in Chicago, Denver, New York/Newark and San Francisco. United’s announcement includes brand-new service to Nice, France; Palermo, Italy; and Curacao. The airline also announced customers will have more options when planning travel to Europe with additional flights to Amsterdam; London; Frankfurt, Germany; and Zurich and will resume its seasonal summer service earlier to popular destinations including Athens, Greece; Naples, Italy; Porto, Portugal; and Barcelona, Spain. “United’s global network is a tremendous source of pride for our employees and loyal customers – we’re always looking for ways to grow and expand our network to connect our customers to more destinations around the world,” said United’s International Network Vice President Patrick Quayle. “These new additions help position United as the airline of choice for customers planning their business or leisure travel.”

Wings Capital Partners Names Jakob Gallagher as Vice President – Treasurer & Capital Markets

Wings Capital Partners announced 22nd August the addition of Jakob Gallagher to the Wings’ team as Vice President – Treasurer & Capital Markets. “Jakob’s strong background in corporate finance and experience in the capital markets will position him well in his new role. We are excited to welcome Jakob to the Wings’ team as we continue to build out our investor relations, banking and capital markets activity,” says Bryan Billings, Chief Financial Officer.

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