Daily Archives: March 13, 2017

VistaJet completes 100,000th flight as whole and fractional aircraft purchases decline

Company records 40% of new business from former aircraft owners as customers shift toward sharing economy models

  • Company took on 15 new business jets in 2016, equaling 26% fleet growth
  • Has now connected 250,000 passengers to over 1,600 airports in 187 countries
  • New customers included principals as young as 25, and major technology companies purchasing 400+ flight hours
  • 40% of its new business in 2016 came from customers moving away from fractional or full aircraft ownership

LONDON, March 13, 2017 (GLOBE NEWSWIRE) — VistaJet, the first and only global aviation company, today announced that it has safely performed over 100,000 flights in its history, recording significant growth as corporations and UHNWIs continue using business jets to travel the world.

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/afab1e13-6b9f-4ec0-b0f8-e6b5e6434476

http://www.globenewswire.com/NewsRoom/AttachmentNg/a3b654d1-e790-4450-8576-695e75cd1824

In the first nine months of 2016, 7.7% fewer new aircraft were delivered year-on-year, and the total number of deliveries remained at the same level as it was in 20121. At the same time, VistaJet took on 15 brand new business jets in 2016 to meet increasing demand, equaling 26% fleet growth. The company has now connected 250,000 passengers to over 1,600 airports in 187 countries.

The company forecasts this growth to continue as a rising number of millennials enter the business aviation market and look to participate in the shared economy trend rather than own a depreciating asset. Among its new customers were principals as young as 25, and major technology companies purchasing 400+ flight hours for their executives to fly worldwide. The firm reports that 40% of its new business in 2016 came from customers moving away from fractional or full aircraft ownership in favour of anytime access to its global fleet.

VistaJet Program customers accounted for the majority of the company’s business in 2016. The VistaJet Program is a bespoke solution aimed at individuals and corporations flying between 50 and 1,000+ hours per year, offering guaranteed access anytime and anywhere to a global fleet of silver and red branded aircraft.

As part of its 71 business jets, VistaJet now also counts the largest privately owned Global 6000 and Challenger 350 fleet in the industry. In 2016 the company moved its global headquarters to growing European business hub, Malta, whilst expanding its offices in key cities such as Los Angeles, New York City, Hong Kong, Seoul and Lisbon.

Chairman and Founder Thomas Flohr said:

“What we’re seeing is that due to broader uncertainty and changing attitudes to ownership, while entrepreneurs and corporations want the flexibility and convenience of using a business aircraft, they don’t want the asset risk or the up-front costs. Celebrating our 100,000th flight is a real indication that customers have found the answers they are looking for in our business model. We have invested in our fleet, our people, and our global infrastructure, to offer an unmatched service.

We pride ourselves on providing the support and resources companies need to do business. Whether that is organising complex trips to multiple, remote destinations or arranging for meetings to take place in-flight, regardless of where in the world they are, we are there for our customers when they need us.”

1 http://www.avbuyer.com/articles/business-aviation-market-insight/what-are-the-latest-business-jet-market-trends/

About VistaJet 


VistaJet is the first and only global aviation company. On its fleet of silver and red business jets, VistaJet flies 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

Matteo Atti		
VistaJet International	
T: +44 (0) 203 667 5366
M: +44 (0) 7827 856692	
[email protected] 

James Leviton		
Finsbury		

+44 207 251 3851	
[email protected]

Paxata Named a Leader in Data Preparation Tools Report by Independent Research Firm

Report states, “Customer references gave top scores across all usability and time-to-value features.”

REDWOOD CITY, Calif., March 13, 2017 (GLOBE NEWSWIRE) — Paxata, the pioneer in self-service data preparation, today announced that Forrester Research, Inc., a leading independent technology and market research company, has positioned Paxata as a leader in The Forrester Wave™: Data Preparation Tools, Q1 2017.  Paxata is top ranked in the Current Offering Category.

Within the Current Offering Category, Paxata earned the highest possible scores in 14 out of 15 criteria, which includes Customer Experience, Discover and Blend, Standardize and Enrich, Deliver, Sharing, and Deployment criteria.  Additionally, based on customer references, Paxata received the highest possible scores in usability for business analyst, effectiveness and time to value, and vendor relationship subcriteria. The report also states, “Paxata focuses on usability and fast time-to-insights for business analysts. Paxata is powered by a unified set of technologies designed to support and balance data integration, quality, governance, collaboration, and enrichment.”

The complete report, including the Forrester Wave graphic, is available at:
Download – the Forrester Wave on Data Prep Tools, Q1 2017

The report found that “to remain competitive, firms must speed up driving data to insights in all areas of the business.  However, that requires cutting overhead and inefficiencies from traditional data management timelines and, most important, driving from insights to actions that have business impact.”  Furthermore, Forrester states, “To accelerate time-to-insights and time-to-actions, business end users and analysts who today wrangle data in spreadsheets or other traditional tools need direct access to data and a significant power assist. Data preparation tools can provide this power, but they must balance features and functions to support different roles and use cases and enable appropriate manageability, security, and governance in today’s enterprises — while at the same time delivering speed-to-value.”

Recognizing Paxata as a leader in the Data Preparation Tools market, Forrester said, “[Paxata] combines a user experience that’s intuitive for business analysts, along with machine learning plus text and semantic analytics so analysts can connect data quickly and get to insights faster.”  More specifically, Forrester found Paxata’s differentiators to include, Paxata’s ClicktoPrep™ feature, which enables bi-directional contextual integration with BI tools, the use of Spark for large-scale data prep and a multi-tenant architecture purpose-built for the cloud.

“As the company that launched the Self Service Data Preparation category in 2013, we are thrilled and honored to see Paxata as the top rated vendor in the current offering category among all vendors in Forrester’s first-ever Wave for Data Preparation Tools,” said Prakash Nanduri, Co-Founder and CEO, Paxata.  “We are especially proud that our customer references gave us the highest possible scores in Customer Experience. This is a testament and endorsement of the tangible business value of our vision in delivering a comprehensive, enterprise grade self-service platform that empowers all business consumers to turn raw data into information, instantaneously. I am deeply grateful to the Paxata team, our wonderful customers, and our partners for embracing this vision and making it happen!”

About Paxata
At Paxata, we turn raw data into trustworthy information at the speed of thought. We provide an Adaptive Information Platform that enables business leaders and analysts with an enterprise-grade, self-service data preparation system for analytics, operations and regulatory requirements. Business analysts work within an intuitive, visual application to access, explore, shape, collaborate and publish data with clicks, not code, with complete governance and security. IT is able to support the scale of data volumes and variety, enterprise and cloud data sources, and business scenarios for immediate and repeatable data service needs. Built on Apache SparkTM and optimized to run in ApacheTM Hadoop®, Paxata leverages automated artificial intelligence, elastic cloud architecture and distributed computing to deliver an immersive business consumer experience that automates the data-to-insight pipeline. The platform can be deployed both on-premises and in public, private or hybrid cloud environments.

Paxata is headquartered in Redwood City, California with offices in New York, Ohio, Washington D.C., and Singapore. Visit www.paxata.com or engage with us on Twitter, LinkedIn, Facebook, or YouTube.

Paxata Media Contacts:
McCoin & Smith Communications Inc.
[email protected]
[email protected]
508-429-5988
978-433-3304

Pace Holdings Corp. Completes Business Combination with Playa Hotels & Resorts

Combined company named Playa Hotels & Resorts and will trade on NASDAQ under PLYA

Transaction provides significant capital and complementary capabilities to further Playa’s leading position

FAIRFAX, Va., and FORT WORTH, Texas, March 13, 2017 (GLOBE NEWSWIRE) — Pace Holdings Corp. (“Pace”) a special-purpose acquisition company sponsored by an affiliate of TPG, today announced that it has completed its business combination with Playa Hotels & Resorts (“Playa”), a leading owner, operator, and developer of premier all-inclusive resorts. With the closing of this transaction, the combined company is named Playa Hotels & Resorts and its ordinary shares and warrants will trade on NASDAQ under the ticker symbols PLYA and PLYAW respectively beginning on Monday, March 13, 2017.

On December 13, 2016, Pace and Playa entered into a definitive transaction agreement. The transaction was approved by the shareholders of Pace on March 1, 2017, with over 99 percent of the voted shares voting in favor of the business combination. Pace’s board of directors had previously approved the business combination and recommended that its shareholders vote in favor of the proposal. The transaction immediately significantly strengthens Playa’s balance sheet by fully redeeming its preferred shares, and also provides significant additional capital for growth.

As previously announced, Playa CEO and Chairman Bruce Wardinski and his management team will continue to run the combined company. In connection with the closing of the transaction, TPG Partner and Pace President and CEO Karl Peterson has been appointed to the company’s board of directors. He is joined by Paul Hackwell, an investor in TPG’s Travel & Leisure and Retail Group, and Tom Klein, the former President, CEO, and member of the board of directors of Sabre Corporation. Other members of the board of directors include Stephen Haggerty, Daniel Hirsch, Hal Stanley Jones, Elizabeth Lieberman, Stephen Millham, Arturo Sarukhan.

Playa will release its 2016 financial and operating results on Tuesday, March 14, 2017 after the market closes.  Playa will host a conference call to discuss its 2016 results on March 15, 2017 at 10:00 a.m. ET (Eastern Time). The conference call can be accessed by dialing (866) 393-5826 for domestic participants and (954) 320-0070 for international participants. The conference ID number is 80776088.

Additionally, interested parties may listen to a taped replay of the entire conference call commencing two hours after the call has been completed. This replay will run through Thursday, March 30, 2017. The access number for a taped replay of the conference call is (855) 859-2056 or (404) 537-3406 using the same conference ID number. There will also be a webcast of the conference call accessible on the company’s investor relations website at www.investors.playaresorts.com.

About Playa Hotels & Resorts 
Playa Hotels & Resorts is a leading owner, operator and developer of all-inclusive resorts in popular vacation destinations in Mexico and the Caribbean.  Playa owns a portfolio consisting of 13 resorts (6,142 rooms) located on prime beachfront properties across Mexico, the Dominican Republic, and Jamaica. In 2013, Playa entered into a strategic partnership with Hyatt to create two all-inclusive brands under the Hyatt name, Hyatt Ziva and Hyatt Zilara, of which Playa is the sole franchisee. Playa operates six Hyatt resorts across Mexico and Jamaica, one of which sits in the only private cove in Puerto Vallarta. Through its relationship with Playa, Hyatt is the first major U.S. brand to have entered the all-inclusive segment.

About Pace Holdings
Pace was formed with the purpose of acquiring a company that would be better suited to generate strong returns in the public markets while benefiting from the broader operational knowledge, resources and private equity heritage of TPG. This transaction builds on TPG’s efforts to grow its private equity offering by servicing different return profiles and product types. Since the start of 2014, the firm has launched several new products, including Pace, TPG Real Estate Finance Trust (“TRT”), TSL Europe and Arrow Ridge Capital.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. You can identify these forward-looking statements by the use of terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words or phrases. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Form S-4 registration statement, filed February 7, 2017, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov.  Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s filings with the SEC. While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. Playa disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to us (or to third parties making the forward-looking statements).

Media Contacts:
Pace Holdings Corp.
Luke Barrett
(212) 601-4752
[email protected]

Playa Hotels & Resorts
Karen Callahan
(954) 801-7116
[email protected]

Investor Contacts:

Pace Holdings
(212) 405-8458
[email protected]

Playa Hotels & Resorts
Ryan Hymel
(571) 529-6113
[email protected]

TGS announces Carlsen 3D multi-client project in Norway

ASKER, Norway, March 13, 2017 (GLOBE NEWSWIRE) — TGS announces new multi-client acquisition project, Carlsen 3D in Barents Sea, Norway.

Carlsen 3D (CAR17 3D) is a 5,490 km2 multi-client survey in open acreage located in the Southwest Barents Sea between the Tromsø and Sørvestnaget Basins. Multi-level targets exist within Pre-Cretaceous, Cretaceous and Paleogene throughout the area – leads include rotated fault blocks and sand injectites. Acquisition is expected to commence in April 2017. Data processing will be performed by TGS using its Clari-FiTM broadband technology to image the complex fault patterns in this prospective area.

“Carlsen 3D will expand TGS’ data coverage in the Barents Sea where we have a strong track record of success.  This project will provide modern, high quality seismic data to an area that is expected to be of high interest in upcoming licensing rounds,” commented Kristian Johansen, CEO for TGS.

This survey is supported by industry funding.

More information on this survey is available here.

A PDF accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/ec9f92b6-0013-4ac9-9647-feb88a0b5d30

Company summary
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide.  In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.

For more information visit TGS online at www.tgs.com.

Forward-looking statements and contact information
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS’ reliance on a cyclical industry and principle customers, TGS’ ability to continue to expand markets for licensing of data, and TGS’ ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol “TGSGY”.

For additional information about this press release please contact: 

Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: [email protected]

Will Ashby
VP HR & Communication
Tel: +1 713 860 2184 
Email: [email protected]

UN Report Warns Myanmar May Try to Expel Rohingya

GENEVA � A new report presented to the U.N. Human Rights Council accuses Myanmar of institutionalized discrimination and long-standing persecution of its mainly Muslim Rohingya population amid appeals by a government representative to the international community to support Myanmar in its efforts to promote democracy and human rights.

While Yanghee Lee, special investigator on the situation of human rights in Myanmar, acknowledged the new government has been in power for barely one year, she noted that there were a great many human rights violations that could not wait to be addressed and needed immediate attention.

Lee cited reprisals against human rights defenders and the suppression of voices of dissent through arrest and imprisonment as main concerns. She said she had never felt more anxiety over potential acts of retaliation and reprisal than in Rakhine State during her visit to Myanmar in January.

Lee’s assessment follows another report issued by the U.N. human rights office on February 3, which documented acts of cruelty, by Myanmar’s security forces, triggered by the October 9 killing of nine police officers by armed men who attacked three border guard police facilities in Rakhine.

Rights officials say this unleashed weeks of retaliatory measures and gross violations by security forces, including mass gang-rapes, killings, and disappearances, prompting more than 66,000 Rohingya to flee northern Rakhine State to Bangladesh.

In her effort to investigate the issue of reprisals, U.N. investigator Lee said she went to Cox’s Bazaar in neighboring Bangladesh where she interviewed around 140 Rohingya.

I heard allegation after allegation of horrific events like these – slitting of throats, indiscriminate shootings, setting alight houses with people tied up inside and throwing very young children into the fire, as well as gang rapes and other sexual violence.

Even men, young and old, broke down and cried in front of me telling me about what they went through and their losses, she said.

In response to the deadly attacks on October 9, Htin Lynn, Myanmar’s ambassador in Geneva, said, Security forces had to launch operations to restore peace and maintain law and order in northern Rakhine State. Such operations have now ceased.

Investigator Lee expressed her disquiet about clearance operations, including the dismantling of people’s homes and a household survey in which, she said, those absent may be struck off the list facing what could be the only legal proof of their status in Myanmar.

She said this indicated that the government may be trying to expel the Rohingya population from the country altogether. I sincerely hope that that is not the case.

She noted that there have been several commissions of inquiry and investigations set up to examine the situation of the Rohingya, but that none has proven to be truly independent.

There is a need for a new set of investigations, which are prompt, thorough, independent and impartial, and this needs to happen soon, before the evidence is compromised. Prompt, thorough, independent and impartial investigations are not only needed in Rakhine, but also in conflict-affected areas such as Kachin and Shan, she said.

Lee noted that similarly serious violations to those in Rakhine have been reported in those states for years, often been overlooked and also gone uninvestigated, with the situation in these areas worsening and still receiving little attention.

Lee warned the conflict in Kachin and Shan states is escalating. She said more than 10,000 people were forced to flee to China.

Lee said she continued to receive reports of serious human rights violations committed by all parties to the conflict, including torture, inhumane and degrading treatment, sexual and gender-based violence, arbitrary killings and abductions, all of which frequently go uninvestigated.

Lee called on the government in Myanmar to reform and modernize its judiciary, executive, and legislative branches. She said the country’s 1982 Citizenship Law, which stripped the Rohingya of their birthright, was discriminatory and needed to be overhauled.

She assured the Myanmar representatives who attended the council session that she had absolutely no reason whatsoever to present a biased, one-sided report.

She added, I have every reason to present the situation to reflect the reality, even if some may not like what I have to say.

Ambassador Htin Lynn was not persuaded. He said his government could not subscribe to many of the recommendations in the report.

Myanmar does not accept an idea of a Commission of Inquiry as we are seriously addressing the allegations nationally.

He also dismissed the term crimes against humanity, saying it was based on unverified and one-sided allegations.

Source: Voice of America