Sun Country Airlines names new President/CEO

Sun Country Airlines has appointed Jude Bricker to be its new president and chief executive officer, the company said.

Bricker previously served as the COO and EVP of Allegiant Airlines. He was with Allegiant Airlines from May 2006 through May 2017. He started with Allegiant as manager of fleet planning, then served as director of fleet planning, vice president of corporate finance and senior vice president of planning. He was promoted to the COO position at Allegiant in January 2016.

Bricker replaces Zarir Erani who was asked to step down from the position of president and chief executive officer of Sun Country. Erani will be involved in other activities within Cambria Company.

Sun Country Airlines (MN Airlines, LLC d.b.a. Sun Country Airlines) is based in Minneapolis/St. Paul, Minnesota.

Flyht amends operating demand loan

Flyht Aerospace Solutions Ltd. (TSX VENTURE: FLY) (OTCQX: FLYLF) has amended its operating demand loan (the “Line of Credit”) with a Canadian chartered bank to increase its borrowing availability to CAD 1.5 million from USD 250,000, the company said.

Proceeds from the Line of Credit will be used to support short-term cash needs from increasing trade receivables and inventory requirements from growing sales.
The Line of Credit will continue to bear interest at Canadian chartered bank prime plus 1.5%.

Security includes specific accounts receivable, a guarantee under the Export Development Canada´s (EDC) Export Guarantee Fund and a general security agreement including a security interest in all personal property.

This amendment will release the GIC of USD 250,000 previously pledged as security.

Flyht is a provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. More than 70 customers, including airlines, leasing companies and original equipment manufacturers, have installed our systems to increase safety, improve operational efficiencies and enhance profitability.

PACSCISAT establishes flight heritage for new technologies used in all phases of

PacSci EMC has successfully completed initial payload tests of new technologies on its on-orbit technology demonstrator satellite, PACSCISAT, on June 30, 2017, the company said.

After a one-week satellite commissioning period in a 515 km, sun synchronous, polar orbit, PacSci EMC successfully passed built-in-tests (BIT) on both its primary and redundant Smart Energetics Architecture (SEAâ„¢) sequencing system and devices, fired two Smart Initiators, and demonstrated pyrotechnic rocket based attitude control maneuvers.

The low power, SEA sequencing system is capable of firing hundreds of pyrotechnic devices with microsecond repeatability and sub-millisecond sequencing. It can be used to deploy solar arrays, scientific instruments and many other devices used on satellites and spacecraft.

PacSci EMC products are used in all phases of vehicle flight beginning with ground-based operations through lift-off/boost, solid rocket booster jettison, payload fairing separation, booster separation, second stage flight, payload separation and flight termination.

PACSCISAT was launched on June 22, 2017 on the Polar Satellite Launch Vehicle flight C38 (PSLV-C38) from the Satish Dhawan Space Centre in India.

PacSci EMC provides pyrotechnic and energetic material devices and integrated systems that operate precisely the moment they are commanded — down to the millisecond.

Southwest Airlines RPMs up 3.7% in June

Southwest Airlines Co. (NYSE: LUV) has reported its June, second quarter, and year-to-date preliminary traffic statistics.

The company flew 11.9 billion revenue passenger miles (RPMs) in June 2017, an increase of 3.7 percent from the 11.5 billion RPMs flown in June 2016. Available seat miles (ASMs) increased 3.8 percent to 13.6 billion in June 2017, compared with June 2016 ASMs of 13.1 billion.

The June 2017 load factor was 87.4 percent, which was comparable to the record June 2016 performance. Based on these results, the company continues to estimate its second quarter 2017 operating revenue per ASM (RASM) will increase in the one to two percent range, as compared with second quarter 2016.

Veteran Silicon Valley CFO joins Loton

The board of directors at Loton Corp. (OTC: LIVX), which owns the premium live music streaming platform LiveXLive, has appointed Craig Foster as a director and head of the board ´s Audit Committee, the company said.

Foster, a Silicon Valley financial veteran, was formerly the Chief Financial Officer of Ubiquiti Networks, Inc. and most recently CFO of Amobee, a global digital advertising platform.

Foster has served as a CFO for Amobee and during his tenure oversaw the turn to profitability and the USD 310M acquisition of Turn, Inc. Prior to Amobee, Foster was the CFO and a Director at Ubiquiti Networks, the disruptive networking and communications company, where he engineered the highest net income per employee among publicly traded technology companies on NASDAQ and led a stock performance increase of 300% over two years.

Foster held investment banking positions at Credit Suisse and UBS, serving as the Co-head of software at the latter. During his employment, he completed over USD 8Bn worth of transactions across IPOs, M&A, debt and complex financial instruments. Prior to banking, Foster was an early employee of Loudcloud, Inc. and gained foundational operations experience across management positions in product management, business development and finance. He also held various senior positions at RBC Capital Markets, Open Market, Deloitte Consulting, and PriceWaterhouseCoopers.

Foster holds an M.B.A. in Finance from the Wharton School of Business and a B.A. in Economics from the University of California, San Diego.

LiveXLive, a wholly owned subsidiary of Loton, Corp is one of the world´s only premium Internet networks devoted to live music and music-related video content.

FLY Leasing acquires 4 new aircraft

FLY Leasing Limited (NYSE: FLY) has purchased four new aircraft, including a new Boeing 787 Dreamliner and a new Boeing 737 MAX 8, the first 737 MAX to join FLY´s fleet, the company said.

The 787 is on a 12-year lease to a European airline and the 737 MAX 8 is on a 12-year lease to an Asian carrier. FLY also acquired a new Boeing 737-800 on a 10-year lease to a flag carrier in Europe and a new Airbus A320-200 on a 12-year lease to an airline in Asia.

FLY is a global aircraft leasing company with a fleet of modern, high-demand and fuel-efficient commercial jet aircraft. FLY acquires and leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, a worldwide leader in aircraft lease management and financing.

AT&T acquires Vyatta

AT&T (NYSE: T) has completed its previously announced acquisition of the Vyatta® network operating system and associated assets of Brocade Communications Systems, the company said.

The deal also included the hiring of several dozen Brocade employees.

The Brocade employees joining AT&T are mostly located in California and the U.K.

AT&T expects to virtualize and software-control 75% of its network by 2020. AT&T plans to hit 55% by the end of 2017. A key part of that plan is hiring employees and training current staff in software-defined networking, security, data analytics and other new technologies.

AT&T helps millions around the globe connect with entertainment, business, mobile and high speed Internet services. Its products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information about AT&T products and services is available at about.att.com.

AT&T enhancing local networks in US Virgin Islands

AT&T (NYSE: T) ahs invested nearly USD 20 million in its US Virgin Islands wireless and wired networks during 2014-2016, the company said.

These investments enhance a wide range of upgrades to reliability, coverage, speed and overall performance for residents and businesses. They also improve critical services that support public safety and first responders.

AT&T helps millions around the globe connect with entertainment, business, mobile and high speed Internet services. Its products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.

GOL discloses preliminary traffic figures for June 2017

GOL Linhas Aereas Inteligentes S.A. (B3: GOLL4 and NYSE: GOL), Brazil´s #1 airline, has announced preliminary air traffic figures for the month of June, 2017, the company said.

Comparisons refer to the same period of 2016.

The total volume of GOL departures decreased by 5.7%, and the number of seats declined 5.6%, occasioning a decrease in supply of 6.4%. Demand reduced by 2.5% in the period. GOL´s load factor was 78.1% in June 2017, 3.1 p.p. up over the same period of 2016.

In the domestic market, GOL decreased its supply by 4.8% in June over the same period the year before. Domestic demand reduced by 1.1% in the month, and GOL achieved a load factor of 79.0%, 2.9 p.p. up over June 2016.

In June, GOL´s international market supply fell by 19.0%, while demand reduced 14.4% resulting in a load factor of 70.1%, which represents growth of 3.8 p.p. in relation to the same period of 2016.

GOL carries 33 million passengers annually on more than 700 daily flights to 63 destinations.

Cincinnati Bell to combine with Hawaiian Telcom, OnX Enterprise Solutions

Cincinnati Bell Inc. (NYSE: CBB) has entered into separate definitive merger agreements with Hawaiian Telcom, Inc. (NASDAQ: HCOM) and OnX Enterprise Solutions, the company said.

Cincinnati Bell has signed a definitive agreement to combine with Hawaiian Telcom, the leading integrated communications provider serving the state of Hawai´i, for a total consideration of approximately USD 650 million, representing a 23.7% premium to HCOM´s trailing 20-day calendar VWAP.

Under the agreement, Hawaiian Telcom shareholders will have the option to elect either USD 30.75 in cash, 1.6305 shares of Cincinnati Bell common stock, or a mix of USD 18.45 in cash and 0.6522 shares of Cincinnati Bell common stock for each share of Hawaiian Telcom, subject to proration such that the aggregate consideration to be paid to Hawaiian Telcom shareholders will be 60 percent cash and 40 percent Cincinnati Bell common stock.

Cincinnati Bell has also signed a definitive agreement to acquire OnX Enterprise Solutions, a technology services and solutions provider in North America and the United Kingdom, for a total consideration of approximately USD 201 million in cash on a cash-free, debt-free basis.

The merger with Hawaiian Telcom will combine two companies with complementary values, goals and business strategies, including a shared focus on investment in fiber. The companies also share a commitment to their local communities that stretches back generations, and a mutual desire to provide access to innovative technologies that fuel social and economic development.

This merger will combine Hawaiian Telcom´s 1,300 employees with Cincinnati Bell´s 3,000 to create a bigger and stronger enterprise that will foster greater innovation and deliver more competitive products and services to customers. Cincinnati Bell is committed to Hawaiian Telcom´s workforce and ensuring that it can meet the needs of its customers today and into the future. Also, due to distance and separate operations, this merger is not expected to materially impact jobs in Hawai´i. In fact, Cincinnati Bell has committed to investing in Hawaiian Telcom´s next-generation fiber network statewide, which will create additional opportunities for growth.

Cincinnati Bell and Hawaiian Telcom will retain their names and separate brand identities while sharing best practices and resources to the benefit of both companies. Hawaiian Telcom will continue to be locally managed from Hawai´i and its union labor agreements will be honored.

Hawaiian Telcom will have two seats on the combined company Board and these seats will be held by Hawai´i residents, ensuring that Hawai´i is well represented when broader strategic decisions are made.

With the merger, Cincinnati Bell gains access to both Honolulu, a well-developed, fiber-rich city and the growing neighbor islands. The combination will provide Hawaiian Telcom with expanded liquidity and capital flexibility to continue to expand its next-generation fiber network to enable growth and better serve its customer base statewide.

The companies´ combined fiber networks will exceed 14,000 fiber route miles. In addition, Hawaiian Telcom provides the Company with direct access to the 2.6TB of Trans-Pacific fiber cable capacity linking Asia and the U.S., which expands Cincinnati Bell´s route diversity and gives the combined company exposure to large, data-hungry demographics on both sides of the Pacific.

The acquisition of OnX will expand the company´s footprint to 20+ IT sales offices and provide access to 50+ data centers through strategic partners, significantly increasing Cincinnati Bell´s presence in the US and Canada.

OnX also brings efficiencies and customer diversification, including several Fortune 500 companies. The expansion of Cincinnati Bell´s geographic footprint in IT services, and the Company´s ability to seize upon the growing demand for its enterprise IT solutions and cloud services is a critical element of its refined strategy.

Both transactions are subject to customary regulatory approvals and other customary closing conditions for each transaction. In particular, the Hawaiian Telcom combination is subject to certain federal, state, and local regulatory approvals and approval by Hawaiian Telcom´s shareholders.

The company anticipates the OnX transaction will close in the beginning of the fourth quarter 2017, while the Hawaiian Telcom transaction is expected to close in the second half of 2018. The transactions are not conditioned on each other.

Cincinnati Bell has secured committed financing, subject to customary closing conditions, from Morgan Stanley Senior Funding, Inc., to fund a portion of the cash consideration of the transactions and to refinance Cincinnati Bell and Hawaiian Telcom´s existing debt. Cincinnati Bell´s net leverage (net debt divided by pro forma Adjusted EBITDA) is expected to remain in-line with current levels, including run-rate synergies.

Moelis & Company and Morgan Stanley & Co. LLC are acting as financial advisors to Cincinnati Bell for the Hawaiian Telcom and OnX transactions; Stephens Inc. is also acting as financial advisor for the OnX transaction. Cravath, Swaine & Moore LLP, Morgan, Lewis & Bockius, and BosseLaw, PLLC are serving as legal counsel for both transactions. UBS Investment Bank is acting as financial advisor to Hawaiian Telcom, and Gibson Dunn & Crutcher, LLP is serving as legal counsel. Raymond James & Associates, Inc. is acting as financial advisor to OnX, and Schulte Roth & Zabel LLP is serving as legal counsel.

With headquarters in Cincinnati, Ohio, Cincinnati Bell Inc. (NYSE: CBB) provides integrated communications solutions — including local and long distance voice, data, high-speed Internet and video — that keep residential and business customers in Greater Cincinnati and Dayton connected with each other and with the world. In addition, enterprise customers across the United States rely on CBTS, a wholly-owned subsidiary, for efficient, scalable office communications systems and end-to-end IT solutions.

Hawaiian Telcom (NASDAQ: HCOM), headquartered in Honolulu, is Hawai´i´s Technology Leader, providing integrated communications, broadband, data center and entertainment solutions for business and residential customers. With roots in Hawai´i beginning in 1883, the company offers a full range of services including Internet, video, voice, wireless, data network solutions and security, colocation, and managed and cloud services supported by the reach and reliability of its next generation fiber network and a 24/7 state-of-the-art network operations center.

OnX Enterprise Solutions is a leading technology service and solution provider. The company assesses, designs, builds, secures and manages complete technology environments with specific expertise in cloud and managed services, digital application services and infrastructure solutions. For more than 30 years, OnX has helped clients overcome business challenges and achieve exceptional business results through technology. OnX´s team of more than 500 IT professionals work at OnX offices throughout North America and in the U.K., with global headquarters in Toronto, Canada, and U.S. headquarters in New York, N.Y.