Sabre to provide advance technology to HNA Aviation

Sabre Corporation (NASDAQ: SABR) has partnered with HNA Aviation Group to provide the airline with software that will help create additional revenue opportunities and operational efficiencies, the company said.

Sabre said its airline solutions will help the airline navigate operating environments both in China and the global aviation landscape.

HNA said it plans to use Saber´s AirVision planning and scheduling and AirCentre movement suite of products to forecast demand and deliver profitable schedules across its network, while enabling its airlines to capture more revenue.

The AirCentre movement manager and recovery manager will help HNA enhance cross-functional operations control through integrated workflow and systems that manage daily operations and disruptions to protect on-time performance and passenger experience.

Sabre Corporation is a technology provider to the global travel industry, offering
software, data, mobile and distribution solutions. Sabre processes more than USD120 billion of global travel spend annually.

HNA Aviation Group is based in China and supports aviation maintenance technology (MRO), general aviation (aviation academy), business trip service, ground support and aviation logistics. HNA Aviation holds 18 airline companies, possessing aircraft fleet of more than 700 carriers in total, with passenger volume of 90 million people each year.

Phobio launches new secure mobile app engaging retail teams

Phobio has launched Rodio, its new secure mobile app that is a communications platform built for retail that enhances engagement so that companies can round up, connect and sell, the company said.

Rodio is downloaded by employees from the iTunes store or Google Play; they log in and are instantly looped into their company´s community.

Phobio was created by people who share a philosophy about how software should work and how business should be done. Upon discovering some obvious shortcomings in the retail mobile trade-in industry, they created Safetrade to deliver a simple service for retailers: high-value trade-ins on the most products with the lowest adjustment rates.

Phobio is headquartered in Georgia but has multiple receiving facilities worldwide including Canada, Italy and Australia.

AAR reports USD424m in Q2 FY2017 consolidated sales

AAR CORP. (NYSE: AIR) has reported USD423.8 in consolidated sales in the second quarter fiscal year 2017, and income from continuing operations of USD12.1 million, or USD0.35 per diluted share, the company said.

During the second quarter, the company paid cash dividends of USD2.6 million, or USD0.075 per share. Average diluted share count for the quarter was 34.1 million compared to 34.6 million in the second quarter last year.

Net debt at November 30, 2016 was USD140.3 million compared to USD143.7 million at August 31, 2016. Net debt decreased by USD3.4 million during the quarter while still investing in working capital and rotable assets to support the new flight hour component program awards discussed above.

AAR is a global aftermarket solutions company that employs more than 4,500 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers through two operating segments: aviation services and expeditionary services.

HERE plans partnership with Mobileye to enable crowd-sourced HD mapping for automated driving

HERE and Mobileye, both leaders in providing technologies for intelligent vehicles, today announced plans for a strategic partnership that links their respective autonomous driving technologies into an enhanced industry-leading offering for automakers.

Mobileye´s Roadbook will be integrated as a data layer in HERE HD Live Map, HERE´s real-time cloud service for partially, highly and fully automated vehicles. Roadbook information will provide an important additional layer of real-time contextual awareness by gathering landmark and roadway information to assist in making a vehicle more aware of — and better able to react to — its surroundings, as well as allow for more accurate vehicle positioning on the road.

Mobileye will utilize the HERE Open Location Platform for the ingestion and processing of raw sensor and observation data (Road Segment Data, RSD), and the creation and dynamic maintenance of its Roadbook products. The HERE Open Location Platform is the next generation of HERE´s location platform, developed to support the ingestion, enrichment and processing of real-time location-based data for multiple industries, including the automotive industry.

HERE will utilize RSD, as well as the Global Roadbook (GLRB), collected and aggregated from certain vehicle brands equipped with Mobileye technology to support change detection and the maintenance of HERE HD Live Map. Detecting changes in the real world and adjusting the map accordingly is critically important for automated vehicles to plan better driving strategies. With more sensor data available from car manufacturers equipped with Mobileye´s REM technology, the HERE HD Live Map will be updated even more quickly, achieving very short Time to Reflect Reality.

HERE, the Open Location Platform company, enables people, enterprises and cities to harness the power of location. By making sense of the world through the lens of location we empower our customers to achieve better outcomes — from helping a city manage its infrastructure or an enterprise optimize its assets to guiding drivers to their destination safely.

Cathay Pacific names Hertz Global as exclusive car rental service provider

Hertz Global (NYSE: HTZ) has been named the exclusive car rental service provider of Hong Kong-based international carrier Cathay Pacific, the company said.

The companies signed a two-year agreement and Hertz has launched a new website allowing Cathay Pacific passengers access to Hertz, Dollar and Thrift vehicles at 10,000 locations globally.

The company said this new agreement is the extension of the longstanding partnership between Hertz and Cathay Pacific´s frequent flyer program Asia Miles.

Hertz Global operates the Hertz, Dollar and Thrifty vehicle rental brands, through its operating company The Hertz Corporation, in approximately 10,000 corporate and franchisee locations throughout North America, Europe, Latin America, Africa, the Middle East, Asia, Australia and New Zealand.

Cathay Pacific Airways is an international airline offering scheduled passenger and cargo services to some 200 destinations worldwide, with a fleet of around 140 wide-body aircraft.

Pareteum restructures senior secured debt obligation

Mobile networking software and services provider Pareteum Corporation (NYSE MKT: TEUM) has agreed with its senior secured lender to restructure its debt, including extending the maturity date of amounts owed into 2017 and 2018, the company said.

The lender has agreed to extend the maturity date on the USD10.1 million of outstanding principal and premiums to June 30, 2017. Upon repayment of USD1.5 million by March 31, 2017 and an additional USD1.5 million by June 30, 2017, the maturity date on the remaining outstanding debt will be automatically extended to December 31, 2017.

A further automatic extension to February 28, 2018 is based on the company achieving certain leverage ratios as of November 30, 2017. In addition, the company agrees to repay USD250,000 by the end of each fiscal quarter of 2017, and USD500,000 by the end of each fiscal quarter of 2018. The Amendment also provides for the current interest rate of 13% to be reduced to 12% once the company has made the first two USD1.5 million payments in 2017. As part of the Amendment, the lender received warrants to purchase 31.8 million common shares of the company at USD0.13 per share through December 27, 2019. For further details, please see the company´s filing on Form 8-K dated, December 29, 2017.

Pareteum Corporation and its subsidiaries provide a complete mobility cloud platform, utilizing messaging and security capabilities for the global Mobile, MVNO, Enterprise and IoT markets. Pareteum´s large MVNE customers, include Vodafone (the world´s second largest mobile operator by customer), Zain (the 4th largest mobile operator in the world in terms of geographical presence), Cleartech, Expeto and other Tier 1 and MVNO customers.

Boeing delivers 500th 787 Dreamliner

Boeing (NYSE: BA) has delivered the 500th 787 Dreamliner, a 787-8 to Avianca, the company said.

The company said since entering service in 2011, the 787 Dreamliner fleet has grown to include 48 operators, who have collectively flown 696,000 revenue flights, carrying 133 million passengers over 1.7 billion revenue miles.

The 787 family is flying more than 530 routes, with customers opening more than 120 new nonstop routes around the world.

xG Technology closes on Vislink acquisition

Critical wireless communications provider xG Technology, Inc. (Nasdaq: XGTI, XGTIW) has closed on the acquisition of Vislink Communication Systems (“Vislink”) on January 9, 2017, the company said.

This will coincide with Vislink´s general meeting and shareholder vote on the acquisition agreement that will take place the same day.

xG Technology originally announced the Vislink acquisition on Oct. 20, 2016, and announced the signing of the final definitive business purchase agreement on Dec. 19, 2016.

Founded in 2002, xG Technology has developed technologies that enable always-available, always-connected and always-secure voice, broadband data and video communications. The company´s brand portfolio includes xMax and Integrated Microwave Technologies (IMT).

General Cable resolves ongoing investigations

General Cable Corporation (NYSE: BGC) has entered into agreements with the US Securities and Exchange Commission (“SEC”) and the US Department of Justice (“DOJ”) that bring to a conclusion those agencies´ investigations relating to the US Foreign Corrupt Practices Act (“FCPA”) and the SEC´s separate accounting investigation related to the company´s financial restatements from 2013 and 2014, the company said.

Pursuant to those agreements, General Cable will pay fines, disgorgement and pre-judgment interest to the SEC and DOJ in the total amount of USD82.3 million.

No criminal charges will be brought against General Cable, provided it complies with its obligations under the agreement. In light of the significant compliance enhancements made by the company to date, neither the DOJ nor the SEC is requiring an independent compliance monitor. The company has instead agreed to annual self-reporting for a period of three years.

Michael T. McDonnell, President and Chief Executive Officer, said, “We are pleased to have reached an agreement with the DOJ and SEC regarding these matters. General Cable is committed to conducting our business ethically and with the utmost integrity, and over the past two years, we have invested significant time and resources to implement a world-class compliance program. At the same time, we have transformed our business strategy under an entirely refreshed strategic leadership team committed to maintaining a strong performance and compliance culture. We are a different and better company today as a result of these actions.”

The company´s resolution with the SEC encompasses both the FCPA issues and the separate accounting and disclosure issues that were the subject of the company´s prior restatements. General Cable will disgorge profits of approximately USD51.2 million and pay pre-judgment interest of approximately USD4.1 million in connection with the FCPA matter, and pay a civil penalty in connection with the restatement-related matters of USD6.5 million.

As part of the DOJ resolution, General Cable will pay a penalty of approximately USD20.5 million. The company has entered into a non-prosecution agreement with the DOJ, which will be in effect for three years.

To satisfy its financial obligations under the resolutions, General Cable will remit a total of approximately USD82.3 million to the DOJ and SEC. The DOJ penalty of USD20.5 million will be paid in a single payment in the first quarter of 2017.

General Cable voluntarily disclosed potential FCPA concerns to the DOJ and SEC in January 2014. Both the DOJ and SEC recognized and credited General Cable for its extensive and transparent cooperation throughout the investigation, and for significantly enhancing its compliance program under the leadership of a Chief Compliance Officer, an Executive Officer position created in January 2015, who has a reporting relationship with the company´s Board Directors and leads an experienced team of compliance professionals globally.

General Cable, with headquarters in Highland Heights, Kentucky, provides development, design, manufacture, marketing and distribution of aluminum, copper and fiber optic wire and cable products for the energy, communications, industrial, construction and specialty markets.

Teamster pilots ratify new contract with Kalitta Air

Kalitta Air pilots, represented by the International Brotherhood of Teamsters, have ratified a new contract with the airline that offer improvements in job security, scheduling, benefits and pay, the union said.

The contract was ratified more than six years after contract negotiations began and passed by 93.2 percent with 234 of pilots voting yes and only 17 voting no.

The four-year agreement provides scope and job security protections, reduced duty period limits and enhanced rest provisions. It also contains improvements in benefits, protections for pilots who fly cargo into war zones or geographic areas experiencing acts of terrorism and a 55 percent increase to hourly pay rates, as well as incremental raises through 2020.

Kalitta Air operates a fleet of Boeing 747 aircraft in support of the global network of DHL Express, a division of the German logistics company, Deutsche Post DHL.

Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million men and women throughout the United States, Canada and Puerto Rico.