Daily Archives: June 1, 2017

VistaJet Records 39% EBITDA Growth With Strong First Quarter 2017 Results

VistaJet continues to gain market share across all markets

For the 13 weeks to 31 March 2017:

  • Flight revenues increased by 22% globally year-over-year.
  • EBITDA grew 39% year-over-year due to increased yields and efficiency.
  • New Program hours sold up 79% Q1 2017 against Q1 2016.
  • Program Membership accounts for majority of total hours flown in Q1 2017 at 55%.

LONDON, June 01, 2017 (GLOBE NEWSWIRE) — VistaJet, the first and only global aviation company, has today announced yet another record quarter, again demonstrating its ability to consistently capture greater market share with its strong value proposition of asset free risk and truly global access.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/9e3d1364-eb1f-4e73-aa64-4dbcecb3cf76

The company recorded EBITDA growth of 39% year-on-year following a record Q1 sales success, and increased yields and efficiency due to its global infrastructure and a continued focus on technology.

The company’s decision to grow its fleet to a total of over 70 identically branded and globally positioned aircraft continues to support its growth, and the average utilization trend was positive month-on-month from January 2017 to March 2017.

In the traditionally weakest quarter of the year for the aviation industry, VistaJet recorded a 22% growth in flight revenues year-on-year. The majority of growth came from VistaJet’s Program segment, with existing customers utilizing and upsizing their contracts and new clients choosing to subscribe to multi-year agreements. Sales of new annual Program hours increased by 79% year-on-year, demonstrating the company’s position as the only alternative to full or fractional aircraft ownership in the private aviation market. Program customers flew more hours in the first quarter than in any other period in VistaJet’s history, accounting for 55% of total hours globally, up from 53% against the same quarter last year.

VistaJet’s On Demand segment also grew year-on-year, with revenues increasing by 14% in spite of Easter falling outside of Q1 this year. Total On Demand flight hours remained steady year-on-year whilst live hours increased by a staggering 4% as the improvement in the ferry factor drove a decline in empty flight hours. Empty legs have long been a challenge for private aviation businesses, as companies with less scale and operational efficiency have to relocate their aircraft to pick up passengers. The company recently announced a ‘Ferry Free World’ for its Program clients.

VistaJet continues to record growth across the globe. The company increased its market share not only in the U.S. and Asia, both key target growth markets, but also in the more mature markets of Europe, Russia and CIS. VistaJet saw an increase of 15% year-on-year in flight hours in Europe, highlighting that the company continues to see significant growth potential in its established markets.

The U.S. business remains a driving factor in VistaJet’s flight hour growth and prospect pipeline. Flight hours in North America increased by 54% year-on-year. The company also increased its regional customer base and the number of aircraft positioned in the area, which helped it to deliver flight hours growth of 43% also in Central and South America.

VistaJet performed strongly in Asia, and Program customers within the region accounted for 25% of total hours sold during Q1 2017. As a result of their global flying and access needs, both corporate and private individual Program customers in Asia are mainly flying outside of the region to Europe, the Middle East and North America, helping to drive an increase in global flight hours.

VistaJet will continue to grow hours and revenues on its established and leading aircraft and technology infrastructure, improving utilization, margins and the company’s financial strength. VistaJet, as the leading global private aviation company, is continuing to benefit from the trends away from asset ownership and secure new customers who previously had to choose between whole aircraft, fractional ownership, and an inconsistent and inferior charter offering.

About VistaJet 

VistaJet is the first and only global aviation company. On its fleet of silver and red business jets, VistaJet has flown corporations, governments and private clients to 187 countries worldwide. Founded in 2004 by Thomas Flohr, the company pioneered an innovative business model where customers pay only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership. VistaJet’s signature Program service offers customers a bespoke subscription of flight hours on its fleet of mid and long range jets, to fly them anywhere and at any time.

More VistaJet information and news at vistajet.com.

Information

Jennifer Tyler		
VistaJet International	
T: +44 203 617 3077	
M: +44 7834 335505	
jennifer.tyler@vistajet.com 

James Leviton		
Finsbury		
+44 207 251 3851	
VistaJet@finsbury.com

Nasdaq To Support VNG Corporation In Exploring a U.S. Listing

VNG is the first Vietnamese tech startup to explore a U.S. listing, signifying the strong growth of entrepreneurship in South East Asia

NEW YORK, June 01, 2017 (GLOBE NEWSWIRE) — Nasdaq and VNG Corporation signed a memorandum of understanding to explore VNG’s initial public offering (IPO) opportunity on the Nasdaq Stock Market. VNG Corporation is Vietnam’s leader in value added services, developing and publishing online content, providing mobile platforms and payment systems. Under the agreement, Nasdaq will work closely with VNG to prepare for its listing on Nasdaq and support VNG’s access to the U.S. capital markets. Vietnamese Prime Minister Nguyen Xuan Phuc was also present at the signing ceremony as part of his first visit to the U.S.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a4e672f7-fe44-401e-bfc5-59bd71a62256

Vietnam has been fostering a vibrant entrepreneurial scene with an increase in support of its startups and technology companies. Years of investment in education by the government has helped improve the work force and increase economic growth. Many startups and global technology enterprises are tapping into the young tech-savvy population with a median age of just 30 years old.1 The Vietnamese e-commerce market is expected to grow 150% from $4 billion to $10 billion by 2022.2

“The agreement marks an important milestone for VNG, as we are taking another step in making various systems and online products that enrich users’ online experience,” said Le Hong Minh, CEO of VNG. “Vietnam’s technology industry has grown rapidly and drawn attention from investors around the globe. A successful listing on Nasdaq will further our commitment in providing world-class online services that revolutionize digital businesses.”

“Innovation has always been a vital part of Nasdaq’s heritage, and we are proud to be the home to disruptive forces in the global technology sector,” said Bob McCooey, Senior Vice President, Listing Services, Nasdaq. “We are excited to partner with VNG, Vietnam’s first unicorn expected to list in the U.S., and look forward to supporting the company’s continued growth and access to the capital markets.”

The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. VNG has not yet applied for listing on Nasdaq and Nasdaq has not determined if VNG qualifies for listing.  Information about VNG is provided by the company and is not independently verified by Nasdaq.  Neither Nasdaq nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.

1Vietnam’s young tech talent pulls foreign funds to booming startup scene,” Reuters, April 13, 2016
2 Vietnam’s e-commerce market set to swell 150% in 5 years,” Nikkei Asian Review, March 4, 2017

About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 89 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to 3,800 total listings with a market value of $11.0 trillion. To learn more, visit: http://business.nasdaq.com.

– NDAQG –

Media Relations Contacts:
Stephanie Lowenthal
(646) 441-5073
Stephanie.Lowenthal@nasdaq.com

Emily Pan
(646) 441-5120
emily.pan@nasdaq.com

Business Architecture Guild and International Institute of Business Analysis Announce Formal Alliance

WHITBY, ON, CANADA, June 01, 2017 (GLOBE NEWSWIRE) — The Business Architecture Guild® and the International Institute of Business Analysis™ (IIBA®) have formalized a Memorandum of Understanding between the two organizations. Both organizations are looking forward to exciting new opportunities for collaboration across business architecture and business analysis. The strategic alliance recognizes the leadership each organization holds in their respective fields.

Areas of co-operation will include alignment with their respective bodies of knowledge, competency models, career paths and professional certification programs. According to Business Architecture Guild Co-founder and Director, Mike Rosen, the Guild and IIBA seek a wide variety of opportunities to showcase the collaboration between the organizations.  “The Guild and IIBA will seek to align our communities of practices through content, events, and related means. Working together will enable both organizations to leverage more opportunities to promote the role and value of business architecture and business analysis and provide value to our members.”

“Through our strategic alliance both our Memberships will gain access to leading industry knowledge, techniques and professional development resources to help business architecture and business analysis professionals define what successful business transformation looks like to the organizations they represent. We also look forward to the continued grassroots involvement of practitioners to advance both professions,” said Ken Fulmer, President and CEO, IIBA.

About the Business Architecture Guild 

The primary purpose of the Business Architecture Guild® is “to promote best practices and expand the knowledgebase of the business architecture discipline.” The Guild is an international, not-for-profit, member-based organization that provides valuable resources to business architecture practitioners and others interested in the field. The Business Architecture Guild® is the source of A Guide to the Business Architecture Body of Knowledge® (BIZBOK® Guide) and providers of the Certified Business Architect (CBA)® program, which certifies business architects worldwide. For more information visit http://www.businessarchitectureguild.org.

About the International Institute of Business Analysis

International Institute of Business Analysis™ (IIBA®) is a professional association dedicated to helping the business analysis community create better business outcomes. Through a global network, IIBA connects more than 29,000 Members and more than 300 Corporate Members and 121 Chapters. As the voice of the business analysis community, IIBA supports the recognition of the profession and discipline and works to maintain the global standard for the practice and certification. For more information visit www.iiba.org.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2dc229c8-8d4a-4762-a8a5-07d4c36444e9

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/bb844e05-3b36-49ec-ba95-ee0a37674fc6

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/59839a65-c5e2-4c5f-baf1-50419fa794d1

Ann Cain
International Institute of Business Analysis 
647-346-0372
ann.cain@iiba.org

Kathleen Ulrich
Business Architecture Guild
831-464-5344
kathy@businessarchitectureguild.org

TBG Completes Acquisition of DTN, a Leading Provider of Digital Information Services and Decision Support Solutions

TBG to Fully Restore DTN Branding, Focus on Domestic and International Growth

MINNEAPOLIS and OMAHA, Neb., June 01, 2017 (GLOBE NEWSWIRE) — With the completion of TBG’s acquisition of DTN from Schneider Electric SE for a total consideration of $900 million, TBG plans to fully reinstate the powerhouse DTN brand that has been known and trusted since 1984, and focus on growing the business in both the domestic and international markets.

DTN is a highly respected, independent source of insight and analysis, and decision-support solutions to more than 80,000 subscribers worldwide in agriculture, oil and gas, trading and weather-sensitive industries. Through DTN’s suite of products, customers receive actionable market information, weather, news and analysis via a SaaS platform.

“The acquisition of DTN is very important for TBG as we have a deep understanding of the SaaS (software as a service) business with decades of experience supporting such solutions,” said DTN Executive Chairman Jerre Stead. “We are fully committed to the DTN business over the long term and our plan is to facilitate DTN’s strategic and commercial expansion around the globe.”

DTN President Ron Sznaider said, “TBG provides strong and stable ownership that offers unmatched long-term investment and commitment to the DTN business. With this support, we intend to deliver new world-class solutions to the market to drive our domestic growth and international expansion plans, and to further enhance the DTN brand.”

As an independent source of mission critical proprietary content and decision support tools, DTN provides customers with actionable insight to make smarter decisions, manage risk and operate more efficiently. The Weather Services business serves customers in energy, aviation, sports and recreation, and transportation to mitigate weather risk via best-in-class weather forecast accuracy and decision support tools. The Agriculture business provides critical information and solutions to allow farmers and agribusinesses to make better decisions for both production efficiency and the buying and selling of grains, oilseeds and livestock. The Trading business offers configurable tools to help customers analyze and make informed trading decisions in futures and physical commodity markets. DTN’s Refined Fuels business connects the downstream oil and gas supply chain as the digital hub for all supply chain participants enabling operational efficiencies and improved profitability.

ABOUT DTN

DTN is the leading digital provider of information services, supply chain connectivity solutions and decision-support tools to more than 80,000 customers in agriculture, oil and gas, trading and weather-sensitive industries worldwide. DTN, based in Omaha, Nebraska and Minneapolis is owned by TBG, a private century old investment holding headquartered in Zurich.

News Media Contact:

Sandi Scott
Tunheim Partners
952.851.7216
sscott@tunheim.com

Covisint Extends Relationship with Ford Motor Company

Enables Secure Access to Information and Applications for Global Suppliers

DETROIT, May 31, 2017 (GLOBE NEWSWIRE) — Covisint Corporation (Nasdaq:COVS) today announced that it has extended its relationship with Ford Motor Company (“Ford”).  With this extension, Ford will continue to leverage the Covisint B2B Automotive Exchange.

The Covisint B2B Automotive Exchange currently provides global access to information and applications for more than 615,000 supplier users across 100,000 supplier organizations connected to select global automotive OEMs.  The B2B Automotive Exchange provides global OEMs with the following:

  • Extends the OEMs enterprise to manage external supplier users with single sign-on to critical resources based on user types.
  • Provides delegated administration both for security and access, as well as for content management and collaboration resources.
  • Helps to manage, automate and govern the complex network of people, systems, and devices that need access to resources.
  • Allows authenticated and unauthenticated content to be personalized and presented to users based upon attributes such as location, division and role.
  • Anytime, anywhere 24×7 support with industry-leading service level agreements and availability.

About Covisint Corporation

Covisint is the connected company – we securely connect ecosystems of people, systems and things to enable new service offerings, optimize operations, develop new business models and ultimately enable the connected economy.  Today, we support more than 2,000 organizations and connect to more than 212,000 business partners and customers worldwide.  Learn more at www.covisint.com.

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Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding Covisint’s present and future technology design, architecture, performance and operations which affects the Covisint IoT Platform’s market growth and the demand for Covisint’s solutions.  Any forward-looking statements contained in this press release are based upon Covisint’s historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved.  These forward-looking statements represent Covisint’s expectations as of the date of this press release.  Subsequent events may cause these expectations to change, and Covisint disclaims any obligation to update the forward-looking statements in the future except as may otherwise be required by the federal securities laws.  These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially.  Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, Ford Motor Company’s ability to non-renew the purchase order or to terminate our contract for convenience.  Further information on potential factors that could affect actual results is included in Covisint’s reports filed with the SEC.

Investor Relations Contact
866-319-7659  
investors@covisint.com

Media Contact
Brad Schechter, Vice President, Corporate Marketing
248-483-2097
bschecht@covisint.com

For Sales and Marketing Information 
Covisint Corporation, 26533 Evergreen Road, Suite 500, Southfield, MI 48076, 800-229-4125
http://www.covisint.com

Changes to Skilled Worker Visas will impact access to global executive talent pool, says AESC

Call to reconsider visa changes in light of negative ‘unintended consequences’

SYDNEY, Australia, May 31, 2017 (GLOBE NEWSWIRE) — There was collective concern expressed this week amongst members of the Association of Executive Search and Leadership Consultants (AESC) over the impact of recent changes to immigration regulations. It was agreed the changes may detrimentally affect Australia’s ability to attract high calibre global talent. The AESC members are drawn from the top executive search and leadership advisory firms across Australia.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e6feb0f1-41e3-4a21-97e6-2300cdce7b5c

“We are collectively concerned that the mooted changes to Australia’s Skilled Worker Visa arrangements will impact access to the global executive talent pool,” said Graham Willis, AESC Chair for Australia. “On a daily basis our members are dealing with the deep executive talent pools that exist within Australia. However, these talent pools do not always offer the depth of executive experience needed to meet the future needs of a business. With executive recruitment now a global story and given rapid disruptive changes in the market, Australian companies must ensure they are globally competitive.”

Mr Willis said there were thus many times that executive search and leadership advisory firms needed to step outside Australia, tapping into overseas talent or attracting the rich experience of Australians who have built careers overseas.

“The decision by a Senior Executive to relocate—whether for offshoring or onshoring—is not one taken lightly; nor is the decision by Australian companies to employ overseas talent,” he said. “It is significant that the collective view of Australian AESC members this week was that the proposed 457 and 186 visa changes are likely to be counterproductive in attracting the very best executive talent to Australia.”

The comments follow the 18 April 2017 announcement by the Australian Prime Minister, the Hon Malcolm Turnbull MP, and his Minister for Immigration and Border Protection, the Hon Peter Dutton MP, and reference their proposal that the Temporary Work (Skilled) visa (subclass 457 visa) be abolished and replaced with the new Temporary Skill Shortage (TSS) visa. Changes to the subclass 186 visa were also announced—including the extension of age limits. These would set a new maximum age limit of 45 years old for executive-level professionals to obtain 186 visas, significantly restricting Australia’s access to +45 year old top senior executive talent.

“The executive search and leadership consulting profession recognises the benefits of promoting local talent pools, however, AESC’s central concern is that the proposed visa changes will serve to restrict onshoring of key leaders and access to specific and specialised skills in the global market,” said Graham Willis.

Mr Willis noted that diversity of talent was essential to Australia’s economic success, especially leaders who bring experience working in global markets or with specific skills. The skills and background required for successful senior level appointments cannot always be found locally, and for businesses to gain a competitive advantage in their increasingly global industries, mobilisation of executive talent across borders is critical.

AESC members also expressed concern about the proposal to establish a new two-year renewable visa—only able to be renewed once—and the closing of pathways to permanent residency status for some senior executives. “The view of our profession generally is that a two-year visa will likely create unnecessary and often irreconcilable risk both for Australian companies whose investors seek leadership certainty while, at the same time,  top candidates seek both flexible, and long term contracts, of more than four years duration,” said Mr Willis.

AESC noted that lack of employment security reduces the attractiveness of senior executive positions to overseas talent not available locally. AESC members also expressed concern that the closing of the pathway to permanent residency for company sponsored executives will create a talent vacuum—a loss of long term capability building Australia’s talent ranks—and  executives who have, historically, made long-term contributions to Australia.

“Executive Search and Leadership Consulting firms fully appreciate the depth of executive talent within the country, and understand the intention and desire of this legislation to protect opportunities available to Australian citizens,” said Steve Mullinjer, AESC Global Vice Chair and Chair of AESC’s Council of Asia Pacific and the Middle East. “However, for true economic opportunities for Australia and its citizens, it is essential that Australian companies have access to talent that can best deliver the greatest business outcomes.” He reinforced the point that AESC’s experience confirmed that high performance from any company requires leadership expertise that is diverse, experienced and can drive transformation and change.

“AESC members play a critical role in ensuring that organisations have the greatest competitive advantage—a direct pipeline of outstanding talent to encourage and facilitate greater output, innovation and productivity,” said Mr Mullinjer. “To best position Australian business to be competitive on an international scale and reward prosperity for Australia, AESC and its Australian membership, we urge the government to reconsider the unintended consequences of the legislation.”

About the Association of Executive Search and Leadership Consultants
AESC is the voice of excellence for the executive search and leadership consulting profession worldwide. Its rigorous Code of Professional Practice guides our members in nearly 1,300 offices in 74 countries and beyond to serve as strategic advisors on behalf of their clients. In turn, AESC members are best positioned to provide companies with a competitive advantage—the ability to find, attract and develop the best talent in the world and ensure that executives are successfully integrated.

By virtue of selecting an AESC member, clients can be secure in their choice of consulting firm, and can reap the benefits that only a trusted advisor can deliver. To learn more about AESC and to view a list of AESC members, visit www.aesc.org. To learn more about AESC’s career service for executive-level candidates, visit www.bluesteps.com.

Contact:
Joe Chappell, AESC
jchappell@aesc.org 
+ 1 (212) 398 9556 ext. 236

UN General Assembly elects new president

Slovak diplomat Miroslav Lajcak was elected President of the UN General Assembly on Wednesday.

He was the only candidate for the position and received the votes of all 193 Assembly members. Mr Lajcak was Slovak Ambassador to Japan from 1994 to 1998. Last year, he ran for the office of UN Secretary General. Lajcak will replace current president Peter Thomson, a Fijian diplomat, to lead the Assembly’s 72nd session beginning in September.

Source: VOV5