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Vietcombank buys $3.6mn worth of new Vietnam Airlines shares

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Vietcombank, a majority Vietnamese state-owned commercal bank, has signed up to buy 8.35 million shares in Vietnam Airlines (VN, Hanoi) in a deal expected to be worth VND83.5 billion (USD3.6 million), it announced in a stock exchange disclosure.

In the troubled flag carrier’s VND12 trillion dong (USD528 million) rescue package approved by the National Assembly last year, Vietnam Airlines was allowed to issue new shares worth VND8 trillion (USD352 million) to existing shareholders to raise capital.

With a shareholding of 14.8 million shares, Vietcombank’s acquisition of further 8.35 million is expected to conclude by September 17. That will take its stake to 23.1 million shares, equivalent to 1.044% of the airline’s charter capital.

Earlier this week, as previously reported, Vietnam’s sovereign wealth fund the State Capital Investment Corporation (SCIC) also bought into Vietnam Airlines’ rights offering as part of state-led efforts to save the airline. It paid VND6.89 trillion (USD303 million) to acquire 689.5 million shares, so that it now holds “at least 31.08% of Vietnam Airlines’ charter capital,” it said.

Nevertheless, Vietnam Airlines’ share price unexpectedly declined by 6.4% on September 15 after seven consecutive days of increase and continued to decline on September 16.

Nevertheless, Vietnam Airlines’ share price unexpectedly declined by 6.4% on September 15 after seven consecutive days of increase and continued to decline on September 16.

Source: https://www.ch-aviation.com/portal/news/107882

Aviation

Modern Aviation Acquires Property and Future FBO Operating Rights at Centennial Airport from The SunBorne Companies

Modern Aviation today announced it has closed the acquisition of certain leasehold improvements from The SunBorne Companies at Centennial Airport. The leasehold improvements include a 62,000 square foot, three story office building at 8001 InterPort Boulevard, which houses several tenants as well as the Signature Flight Support FBO Terminal at Centennial Airport, and a 38,000 square feet hangar complex at 8123 InterPort Boulevard, primarily leased by Signature for its FBO operation. The acquisit

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Modern to Consolidate FBOs on the Centennial InterPort Project Upon the Expiration of Signature Flight Support’s Operating Agreement

CENTENNIAL, Colo. and NEW YORK, Nov. 2, 2021 /PRNewswire/ — Modern Aviation today announced it has closed the acquisition of certain leasehold improvements from The SunBorne Companies at Centennial Airport. The leasehold improvements include a 62,000 square foot, three story office building at 8001 InterPort Boulevard, which houses several tenants as well as the Signature Flight Support FBO Terminal at Centennial Airport, and a 38,000 square feet hangar complex at 8123 InterPort Boulevard, primarily leased by Signature for its FBO operation. The acquisition also includes a ground sublease on 318,652 square feet of land underlying the properties mentioned above and parking and other areas.

(PRNewsfoto/Modern Aviation)

(PRNewsfoto/Modern Aviation)

Also, as part of the acquisition, Modern Aviation will take over the FBO currently operated by Signature Flight Support at the expiration or earlier termination of its current operating agreement. This would enable Modern Aviation to consolidate the entire south side of Centennial Airport under Modern Aviation’s FBO operation and give Modern the largest FBO footprint at Centennial airport.

Modern’s CEO Mark Carmen, stated, “We are very excited about acquiring these properties. Centennial Airport is a top three general aviation airport (based on general aviation aircraft operations) that is expecting to continue to grow well into the future. This transaction enables Modern to increase its footprint in the near term, adding significant rental income to its current operations. But we are most excited about the longer-term opportunity to expand our FBO operation by consolidating the two current FBOs at Centennial InterPort, SunBorne’s 100+ acre aviation development at Centennial Airport.”

Carmen added, “We’ve been seeking opportunities to grow our operation at Centennial Airport since our original FBO acquisition there in November 2018. In September, we passed an important milestone in our growth plan when we broke ground on our expansion project to add 52,000 square feet of hangar space, 4,000 square feet of attached office space, a 7,000 square foot new FBO terminal and 135,000 square feet of new ramp. This will enable Modern Aviation to leverage our outstanding reputation at Centennial for customer service and safety as illustrated by our consistent ranking as the best FBO in Denver and a top 10% FBO nationally by the Aviation International News Annual FBO Survey.”

Bret Packard, Sunborne’s Manager, said, “SunBorne is excited to be a part of Modern Aviation’s investment and expansion at Centennial InterPort. It became clear while we were working with the principals of Modern that we shared a similar vision and enthusiasm for this base. We look forward to an exciting future.”

About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality and industry-leading safety. Modern Aviation has secured the backing of the growth-oriented infrastructure private equity fund, Tiger Infrastructure Partners. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit https://modern-aviation.com.

About The SunBorne Companies
The SunBorne Companies are family owned and principally managed by Bret and Tyler Packard. Over 25 years ago, the Packard Family’s long-standing involvement in master planned real estate development intersected with their passion for aviation. The result was Centennial InterPort™. Today, InterPort sets the standard for efficiency, safety, service and aesthetics in aviation development. SunBorne continues to look for additional strategic locations to share their development and planning expertise with airports across the country. For more information visit www.centennialinterport.com.

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SOURCE Modern Aviation

(PRNewsfoto/Modern Aviation)

Source: https://finance.yahoo.com/news/modern-aviation-acquires-property-future-180400911.html

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Delta invests in net-zero aviation through Aviation Climate Taskforce

To drive forward a new chapter for aviation, Delta is joining the Aviation Climate Taskforce (ACT) – a new nonprofit founded to tackle eliminating carbon dioxide emissions in aviation.

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To drive forward a new chapter for aviation, Delta is joining the Aviation Climate Taskforce (ACT) – a new nonprofit founded to tackle eliminating carbon dioxide emissions in aviation.

To drive forward a new chapter for aviation, Delta is joining the Aviation Climate Taskforce (ACT) – a new nonprofit organization founded to tackle the challenge of eliminating carbon dioxide emissions in aviation, with the goal to accelerate breakthroughs in emerging decarbonization technologies by 10 years or more.

“We’re still too far from real, scalable solutions to clean air travel. We need SAF to be just as accessible as oil and new engine technologies to come to market exponentially faster if we are going to meet industry goals,” said Amelia DeLuca, Delta’s Managing Director of Sustainability. “These coalitions help us more effectively impact our carbon footprint by pooling together resources and funding to define the next chapter of sustainable aviation.”

ACT brings together global airline leaders in partnership with Boston Consulting Group (BCG) to drive technological innovation and accelerate the research and development lifecycle of emerging technologies. It will take a portfolio approach, with the majority of its focus on critical medium-term solutions, such as synthetic fuel, and additional focus on more near-term solutions, such as emerging bio-based Sustainable Aviation Fuel (SAF) pathways, and long-term solutions, such as hydrogen technologies. ACT will aim to support the advancement of these technologies through two key pillars: an Innovation Network and a Collaboration Forum.

  • Through the Innovation Network, ACT will accelerate breakthroughs in emerging technologies. It will map the vast amount of research across the ecosystem and pinpoint collaboration opportunities to accelerate breakthroughs. ACT will then provide grant funding to encourage collaboration and utilize challenge platforms’ reach and expertise to tackle critical barriers from novel angles.

  • ACT’s Collaboration Forum will identify other ways to reduce carbon emissions by expediting adoption and scaling-up of next generation technologies. ACT will engage with experts, activists, policy makers, and thought leaders to facilitate the deployment of innovative technologies.

Through the Innovation Network, ACT will accelerate breakthroughs in emerging technologies. It will map the vast amount of research across the ecosystem and pinpoint collaboration opportunities to accelerate breakthroughs. ACT will then provide grant funding to encourage collaboration and utilize challenge platforms’ reach and expertise to tackle critical barriers from novel angles.

Source: https://news.delta.com/delta-invests-net-zero-aviation-through-aviation-climate-taskforce

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Shell Looks To Be Leader in SAF Production

Global petroleum producer Shell announced plans to begin production of approximately 2 million tonnes a year of sustainable aviation fuel by 2025.

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Global petroleum producer Shell announced plans to begin production of sustainable aviation fuel (SAF), adding approximately two million tonnes a year to the world’s SAF supply by 2025. Currently, the company distributes SAF produced by other companies.

The fuel giant last week made the final decision to commission the construction of a new biofuel production facility at its Netherlands energy and chemicals park in Rotterdam, which when completed would make it one of the industry’s leading SAF producers.

The news comes on the heels of a report generated by the company and Deloitte, which interviewed more than 100 aviation industry executives and experts who concluded that “the current global industry targets are not ambitious enough, and that the aviation sector should aim to achieve net-zero emissions by 2050.” Shell also aims to have SAF equal to at least 10 percent of its global aviation fuel sales by 2030.

“Currently, [SAF] accounts for less than 0.1 percent of the world’s use of aviation fuel,” noted Shell Aviation president Anna Mascolo. “With the right policies, investments, and collaboration across the sector, we can accelerate aviation’s progress towards net-zero by 2050.”

Source: https://www3.ainonline.com/aviation-news/business-aviation/2021-09-20/shell-looks-be-leader-saf-production

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