ORIX Corporation - IX STOCK NEWS

Japan Airlines has selected Vertical Aerospace’s VA-X4 eVTOL aircraft from Avolon’s orderbook, planning to introduce the aircraft during the Osaka Kansai EXPO in 2025. This partnership aims to establish a zero-emissions eVTOL ride-sharing service in Japan, with JAL securing the right to purchase or lease up to 100 VA-X4 units. This initiative aligns with JAL's sustainability goals and aims to enhance air mobility in Japan, leveraging Avolon's expertise and resources to navigate certification processes.

Avolon, a global aircraft leasing company, provided its Q3 2021 update, highlighting significant strategic and financial developments. The company partnered with IAI for the A330-300 P2F cargo conversion program, securing 30 slots from 2025-2028. Additionally, GOL and Grupo Comporte committed to lease up to 250 zero-emission VA-X4 eVTOL aircraft. Avolon increased its revolving credit facility by $1.1bn to $4.3bn and extended its unsecured note maturities to 2027 at a reduced interest rate of 2.53%. The fleet metrics showed 54 lease transactions and a total fleet of 585 aircraft.

Avolon has partnered with IAI as the launch customer for the A330-300 P2F cargo conversion program, committing to 30 conversion slots between 2025 and 2028. This collaboration aims to capitalize on the air cargo market, projected to exceed US$150 billion in 2021 with traffic expected to double in 20 years. Avolon's decision to engage with IAI, a leader in P2F conversions, reflects its ambition to enhance cargo capacity and operational efficiency in a growing e-commerce environment.

GOL Linhas Aéreas Inteligentes S.A. has signed a non-binding letter of intent with Avolon for the acquisition or lease of 250 eVTOL aircraft, targeting a mid-2025 operational date in Brazil. Grupo Comporte is financing the initiative, leveraging GOL's expertise in aviation. The VA-X4 eVTOL aircraft, developed by Vertical Aerospace, will contribute to GOL's strategy for regional air transport and sustainability, aiming for carbon neutrality by 2050. Current plans include transitioning 75% of its Boeing 737 fleet to 737-MAX by 2030, enhancing efficiency and reducing emissions by 16%.

Avolon, in partnership with Gol and Grupo Comporte, is set to launch an eVTOL ride-sharing platform in Brazil. The agreement includes commitments to purchase or lease up to 250 VA-X4 eVTOL aircraft, with Avolon having over 50% of its 500 aircraft order placed. The VA-X4, expected to debut in 2024, will operate with zero emissions and can carry four passengers plus a pilot. This partnership marks a significant move in transforming urban air mobility in high-density cities.

ORIX Corporation submitted its annual Form 20-F for the fiscal year ending March 31, 2021, to the U.S. SEC on June 29, 2021. The document is available for download on the ORIX website, providing shareholders with access to audited financial statements. Established in 1964, ORIX operates globally in various financial services such as lending and asset management, and continues to pursue innovative business solutions. The company emphasizes its commitment to evolving its business model to create value for its stakeholders and society.

ORIX USA has completed an equity investment in the BC Organics Anaerobic Digestion Facility (BCO) in Wisconsin, a significant project aimed at converting dairy manure into renewable natural gas (RNG) and other valuable by-products. BCO is designed to process over 360 million gallons of manure annually, significantly contributing to environmental sustainability by reducing methane emissions and cleaning local water sources. This investment aligns with ORIX's broader strategy of expanding its footprint in the renewable energy sector.

Specialty Welding & Turnarounds, Inc. (SWAT) has appointed industry veteran Marcus Deal as its new Chief Executive Officer. With over 35 years of experience, Deal aims to drive SWAT’s growth strategy, which has included recent acquisitions and organic expansion following the acquisition by ORIX Capital Partners in 2020. Founder Johnny Holifield will remain as an advisor. SWAT, recognized for its safety and execution excellence, continues to expand its service offerings, recently acquiring Hydroprocessing Associates. Deal's leadership is expected to enhance operational efficiencies and foster growth.

ORIX Capital Partners announced the sale of RoadSafe Traffic Systems to Investcorp and Trilantic North America. RoadSafe, operating from over 50 locations across the U.S., is the largest provider of traffic control and pavement marking services. Since its acquisition in 2016, RoadSafe nearly doubled its footprint and maintained a strong safety record. The management team will continue to lead the company, focusing on growth and strategic execution. Details of the transaction terms were not disclosed.