TRAVEL TECHNOLOGY,COMMERCIAL TRAVEL
Paysafe and Virgin Voyages | November 30, 2022
Paysafe (NYSE: PSFE), a leading payments platform, announced a partnership with Virgin Voyages, Richard Branson’s lifestyle travel brand focused on delivering irresistible cruise vacations for adult travelers. Paysafe will ensure travelers can quickly and securely pay online for their next cruise with Virgin Voyages, whose payments risk will also be mitigated by Paysafe’s bespoke travel solution.Whether booking an opulent Virgin Voyages cruise in the Caribbean, Europe, or the South Pacific as well as Transatlantic crossings, travelers can now use their credit card to pay online to book their exclusively adult seabound vacation through Paysafe, with all transactions processed seamlessly. With 20+ years’ card-not-present payments’ experience, including for travel merchants, Paysafe will allow Virgin Voyages to better serve its global customer base by accepting payments in multiple currencies besides the U.S. dollar.
The relatively high-risk nature of cruise travel payments – with cruises often booked many months in advance of travelers’ setting sail – will be mitigated by Paysafe, which has deep expertise in risk management for travel merchants. Paysafe’s custom risk product for Virgin Voyages leverages Mastercard’s T&E Risk Monitor, which is powered by Actuary, to provide the merchant with full transparency on the holdback and release of funds for processed ticket sales, ensuring effective credit risk management.
Paysafe will also help Virgin Voyages negotiate the issue of fraud and chargebacks through its dedicated in-house risk and chargeback teams. In addition, a Cruise Line Relationship Manager at Paysafe will enable Virgin Voyages to overcome specific payments challenges.
“We’re delighted to partner with Virgin Voyages, the latest venture from the iconic Virgin Group and its co-founder Richard Branson. We look forward to supporting this unique travel brand’s growth by leveraging our travel payments experience to facilitate the reservation process for Virgin Voyages and its customers.”
-Afshin Yazdian, President of Merchant Solutions at Paysafe
John Birdsall, Senior Director of Corporate Accounting at Virgin Voyages, commented: "Virgin Voyages is strongly focused on giving our Sailors the vacation of a lifetime, and this covers every aspect of their experience including booking their trip and making safe and secure online payments. Our partnership with Paysafe has helped create a smooth and seamless process."
About Paysafe Limited
Paysafe (NYSE: PSFE) (PSFE.WS) is a leading payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of over U.S. $120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.
About Virgin Voyages
Virgin Voyages is a new lifestyle travel brand focused on delivering irresistible cruise vacations. Scarlet Lady and Valiant Lady - the first and second ships in the fleet - were designed to reflect a yacht’s sleek luxury, offering the intimate, elevated experience of a boutique hotel at sea. Featuring spaces designed by some of the top names in contemporary interiors, our Lady Ships are exclusively adult, a sanctuary at sea for the 18+ traveler. A dose of Vitamin Sea is naturally intertwined across the entire ship, with well-being, relaxation and rejuvenation at the forefront. Our fleet sails to 100 of the world's most incredible destinations with 25+ unique itineraries across four continents. Each sailing offers alluring entertainment and Michelin-inspired menus served across 20+ world-class eateries. With a modern twist on luxury, coupled with discerning design, Virgin Voyages offers incredible value for its Sailors, including food, essential drinks, WiFi and group fitness classes, all covered in the voyage fare.
AIRLINES AND AIRPORTS,INDUSTRY OUTLOOK
CNX and New Frontier | November 08, 2022
CNX Resources Corporation (NYSE: CNX) and New Frontier Aerospace, Inc. (NFA) announced the companies have entered into an agreement, facilitated by Anew Climate, LLC (Anew Climate), to utilize abated methane emissions to fuel net carbon neutral ground and flight tests of NFA's hypersonic vertical takeoff and landing aircraft.
NFA is developing next generation aircraft that can deliver passengers and cargo anywhere on the planet ten times faster than today's jets, while CNX is a leader in capturing and processing methane that would have otherwise vented into the atmosphere, resulting in ultra-low carbon intensity natural gas. The two companies are working towards a path to next generation air travel that is carbon neutral well before the airline industry's 2050 target date. This vision endeavors to bring the world closer together with cargo and passenger flights to any destination on Earth in less than two hours while significantly improving the environmental impact of today's airliners.
"Like our recently announced partnerships with Pittsburgh International Airport and Newlight Technologies, this collaboration further demonstrates CNX's unique combination of assets, innovative technologies, and proven operational expertise which is helping to lead the sustainable energy revolution.Through this agreement, we are not only abating methane emissions from being emitted to the atmosphere, but we are also transforming the way people will travel in the future in a faster, more environmentally sustainable manner."
-CNX President of New Technologies Ravi Srivastava
CNX's carbon negative methane will be sold to New Frontier Aerospace at a premium to conventional natural gas reflecting its low carbon intensity value. The monetary benefit CNX is receiving from NFA for supplying this methane will be used to expand CNX's methane capture program and create more climate benefit in the future. The methane captured by CNX has a carbon intensity comparable to that of environmental attributes from dairy manure-derived renewable natural gas, one of the lowest negative carbon intensity gas resources available.
NFA CEO Bill Bruner said, This agreement is a first step in moving from slow, subsonic jets that dump a billion tonnes of CO2 into the atmosphere annually to a fleet of aircraft that are ten times faster with a net carbon negative fuel source. NFA's advanced propulsion, materials, aerothermal, and autonomous flight technologies will enable safe and affordable high-speed travel for everyone while reducing the airline industry's carbon impact to zero.
The agreement between CNX and NFA was enabled by Anew Climate, the leading North American marketer of low carbon intensity renewable fuels and provider of comprehensive climate solutions.
About CNX Resources
CNX Resources Corporation (NYSE: CNX) is unique. We are a premier, low carbon intensive natural gas development, production, midstream, and technology company centered in Appalachia, one of the most energy abundant regions in the world. With the benefit of a 158-year regional legacy, substantial asset base, leading core operational competencies, technology development and innovation, and astute capital allocation methodologies, we responsibly develop our resources and deploy free cash flow to create long-term per share value for our shareholders, employees, and the communities where we operate. As of December 31, 2021, CNX had 9.63 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information is available at www.cnx.com.
About New Frontier, Inc. ("NFA")
With offices in Seattle, San Francisco, and Dayton, NFA builds renewably fueled hypersonic vertical landing aircraft so people and cargo can travel anywhere on the planet faster and cleaner than jets. NFA is supported by National Security Innovation Capital, a Department of Defense program that provides funding to early-stage hardware startups commercializing dual-use technologies critical to national security and economic competitiveness. Additional information is available at www.nfaero.com.
About Anew Climate, LLC ("Anew" or "Anew Climate")
Anew is accelerating the fight against climate change by enabling companies and organizations to align their goals for conservation and impact with actionable next steps. With a comprehensive solutions portfolio that includes advisory services, carbon credits, renewable natural gas, renewable energy credits, EV credits, plastic credits, and emission reduction credits, we lower barriers to participation in environmental markets for clients across the private and public sectors. As a leading marketer and originator of environmental products, we bring together strategic finance, regulatory expertise, scientific knowledge, and impact focus to make it possible for businesses to thrive while building a sustainable future. Anew is majority owned by TPG Rise, TPG's global impact investing platform, and emerged from the February 2022 combination of durational industry leaders Element Markets, LLC and Blue Source, LLC. The company has offices in the U.S., Canada, and Europe, and an environmental commodities portfolio that extends across five continents. Additional information is available at www.anewclimate.com.
TRAVEL TECHNOLOGY, AIRLINES AND AIRPORTS
IBS Software | October 07, 2022
IBS Software, a leading SaaS solutions provider to the travel industry globally, announced that it has been selected by the International Air Transport Association (IATA), as a technology partner for IATA's new CASSLink project, designed to simplify payments in the air cargo industry. The modernized CASSLink has been successfully deployed in the United States air cargo market, in collaboration with IATA's wholly owned subsidiary Cargo Network Services (CNS).CASSLink is IATA's internet-based data processing and customer management system, which puts customers first by meeting the evolving billing and payment requirements for the entire air cargo value chain. It facilitates the interaction and exchange of information between airlines and freight forwarders participating in IATA's Cargo Accounts Settlement System (CASS), simplifying the customer experience and driving operational efficiencies.
Working closely with IATA, IBS Software is focused on digitally transforming the CASS platform to develop an agile platform that can meet payment innovations and customer demands. Focussed on customer experience, the new CASS platform features improvements in real time analytics, self-service capabilities, additional payment options, global accessibility and a fresh modern multi-lingual user interface. The new CASSLink will be rolled out to all other CASS markets from the fourth quarter of 2022 and continuing through 2023.
Air cargo played an outsized role during the pandemic, delivering life-saving vaccines and medical supplies and keeping global supply chains running. Moving forward, it is vital that industry continues to digitally transform to allow payments between parties to be handled quickly, efficiently and with total trust," said Muhammad Albakri, IATA's Senior VP, Financial Settlement and Distribution Services. Our CASSLink platform has already changed the way airlines and third parties interact. We're delighted to have found an excellent partner in IBS Software to power the new CASSLink, ensuring that it continues to be fit for purpose as we head into a new era for air cargo.
"As air cargo grows, so do the challenges for airlines, freight forwarders and other players in handling payments in an increasingly complex value chain. The air cargo industry has a golden opportunity to influence the global supply chain, making payments simpler and more efficient is critical to enticing and keeping customers, It's an honour for us to partner with IATA to modernize its platform and further enhance the value it brings the industry."
-Akshay Shrivastava, Head of Consulting and Digital Transformation at IBS Software
About IBS Software
IBS Software is a leading SaaS solutions provider to the travel industry globally, managing mission-critical operations for customers in the aviation, tour & cruise and hospitality industries. IBS Software's solutions for the aviation industry cover fleet & crew operations, aircraft maintenance, passenger services, loyalty programs, staff travel and air-cargo management. IBS Software also runs a real time B2B and B2C distribution platform providing hotel room inventory, rates and availability to a global network of hospitality companies and channels. For the tour and cruise industry, IBS provides a comprehensive, customer-centric, digital platform that covers onshore, online and on-board solutions. The Consulting and Digital Transformation (CDx) focuses on driving digital transformation initiatives of its customers, leveraging its domain knowledge, digital technologies and engineering excellence. IBS Software is a Blackstone portfolio company and operates from 15 offices across the world. Further information can be found at https://www.ibsplc.com/.
The International Air Transport Association (IATA) is the trade association for the world's airlines, representing some 290 airlines or 83% of total air traffic. IATA supports many areas of aviation activity and help formulate industry policy on critical aviation issues.