Board of directors of AAR Corp. (NYSE: AIR) has declared a quarterly cash dividend of USD0.075 per share to its stockholders, the company said.
The dividend will be payable on August 5, 2016, to stockholders of record as of the close of business on July 22, 2016.
AAR is a global aftermarket solutions company that supports commercial aviation and government customers through its aviation services segment and expeditionary services segment.
Intermap Technologies Corporation (TSX: IMP) (BB: ITMSF), a global provider of location based solutions, has entered into a non-brokered USD2.0 million promissory note with Vertex One Asset Management Inc., the company said.
The company said it intends to use the proceeds of the note as working capital to carry out existing mapping services contracts and to bridge cash flows until the commencement of one of the company´s data acquisition projects, including the previously announced USD175 million spatial data infrastructure (SDI) project.
In conjunction with the note, the company has agreed to Vertex appointing Patrick Blott and Cary Ludtke to the company´s board of directors, replacing Larry Garberding and Donald Gardner.
Blott is the co-founder and managing partner of Blott Asset Management, LLC, a private investment holding company. He has held executive roles with Bank of America Securities, JP Morgan, SG Cowen and Bank of Montreal.
Ludtke has 32 years of executive, managerial and engineering experience in the remote sensing technology space. He most recently served as vice president and general manager of Ball Aerospace´s Commercial Space Operations Strategic Business Unit.
Vertex is a Vancouver-based investment firm currently managing over USD2.1 billion in assets.
Intermap Technologies is an industry leader in geospatial solutions on demand with its cloud-based Orion Platform that provide location-based solutions.
AWAS has selected the V2500 engine to power three firm, two-option Airbus A320ceo family aircraft, the company said.
The company said the V2500 engine is offered through IAE International Aero Engines AG, a multinational aero engine consortium whose shareholders comprise Pratt & Whitney, a division of United Technologies Corporation (NYSE: UTX); Pratt & Whitney Aero Engines International GmbH; Japanese Aero Engines Corporation and MTU Aero Engines GmbH.
AWAS is an aircraft leasing company serving the aviation market from its headquarters in Dublin.
Pratt & Whitney designs, manufactures and services aircraft engines and auxiliary power units.
Panasonic Avionics (Panasonic) and its partner China Telecom Satellite (CTS) have signed a one-year extension of their Ku-band inflight connectivity trial allowing approved Chinese and international airlines to select Panasonic´s global communications service, the company said.
Per terms of the license, over 20 foreign airlines with more than 1,000 aircraft are expected to begin operating connected flights over Chinese airspace, with more in process. Panasonic´s Chinese airline customers, including China Eastern Airlines, Xiamen Air, Hainan Airlines and China Southern Airlines have begun preparations to offer connectivity services across their global route structure.
Panasonic Avionics Corporation, a subsidiary of Panasonic Corporation of North America, is a supplier of inflight entertainment and communication systems. The company has over 4,400 employees and operations in 80 global locations, and has delivered over 8,000 IFE systems and 1,000 inflight connectivity solutions to the airlines.
China Telecom Satellite Communications Limited is a wholly owned subsidiary of China Telecom, and serves as a resource center, product integration center and professional support center of China Telecom´s satellite communications business.
Aviall, a wholly owned subsidiary of The Boeing Company, has been awarded a contract modification from the Defense Logistics Agency (DLA) to supply additional spare parts for the GE Aviation J85 engine, the company said.
With the addition of this modification, Aviall said it provides more than 200 spare parts for GE´s J85 engine in support of its long-term contract with DLA Aviation. The agreement extends for the life of the engine.
Aviall began its spare parts distribution for the GE J85 engine in 2012. The US Air Force, the US Navy and various foreign militaries around the world currently utilize the engine on T38 and F5 aircraft.
The DLA is the Department of Defense´s logistics combat support agency, providing support in both peacetime and wartime to the military services as well as several civilian agencies and foreign countries.
Equinix, Inc. (NASDAQ: EQIX) has reported plans to invest USD113 million to build a new International Business Exchange (IBX) at its existing campus at the Amsterdam Science Park in Amsterdam, the company said.
The company said the data center, called AM4, will support growing demand for Platform Equinix in Amsterdam, a network-dense location. Equinix also said offers direct connectivity to AWS in Amsterdam. On completion of the expansion phases, the facility will represent a total investment of USD189 million and provide eight floors of data center space.
Amsterdam is digital gateway, allowing businesses to reach 80 percent of Europe within 50 milliseconds. Equinix plans to add capacity to meet growing demand for hybrid cloud, interconnection and connectivity to business ecosystems across a number of vertical markets and internet exchanges.
Equinix, Inc. connects businesses to their customers, employees and partners inside interconnected data centers in 40 markets across five continents.
Batelco has selected Aptilo Networks to enable carrier Wi-Fi for Bahrain Wi-Fi, a nationwide Wi-Fi network, providing communication services in the Kingdom of Bahrain, the company said.
Batelco said it is using the Aptilo Service Management Platform (SMP) to deliver and manage carrier-class Wi-Fi services. Aptilo SMP enables carrier Wi-Fi in a scalable platform, supporting Batelco´s growth in rolling out Wi-Fi hotspots. The nationwide Wi-Fi rollout has begun with hotspots including The Bahrain International Circuit, Seef Mall Muharraq and the Juffair Restaurant area.
Aptilo Networks is a provider of carrier-class systems to manage data services with advanced functions for authentication, policy control and charging.
Boeing (NYSE: BA) and Ruili Airlines have finalized an order for six 787-9 Dreamliners, valued at USD1.59 billion, representing a widebody order for the Yunnan-based carrier, the company said.
The company said the 787-9 complements and extends the 787 family. With the fuselage stretched by 20 feet (6 meters) over the 787-8, the 787-9 will fly over 40 more passengers an additional 280 nautical miles (520 kilometers) with the same environmental performance than the aircraft it is replacing.
Established in February 2014, Ruili is a start-up carrier that operates a fleet of nine 737 airplanes on 16 domestic routes with 46 daily departures.
Polaroid Swing has introduced a moving photo app that enables users to create and share moving photos on mobile phones, the company said.
The Polaroid Swing app is the result of a partnership between the Polaroid brand and a Silicon Valley tech startup chaired by Twitter co-founder Biz Stone. The new visual medium combines the compositional quality of a still photograph with motion.
Co-founders Frederick Blackford, a media and sports entrepreneur, and Tommy Stadlen, a tech entrepreneur and former McKinsey consultant, have entered into a partnership to support the launch of Polaroid Swing app. The company´s R&D lab includes a team of former Apple engineers and computer vision experts from MIT.
Polaroid Swing uses the branding of the Polaroid Corporation and enables people to create and share moving photos on their phones.
United Airlines has achieved a top score on the 2016 Disability Equality Index (DEI), a prominent benchmarking metric that rates US companies on their disability inclusion policies and practices, the company said.
The company said this designation has earned United a place on DEI´s 2016 “Best Places to Work” list.
The DEI, a joint initiative by the American Association of People with Disabilities and the US Business Leadership Network, evaluates companies based on four categories: culture and leadership, enterprise-wide access, employment practices and community engagement and support services.
United Airlines and United Express operate an average of 5,000 flights a day to 336 airports across six continents. In 2015, United and United Express operated more than 1.5 million flights carrying more than 140 million customers.