Aviation Trek

Emirates Flight Catering Opens World’s Largest Vertical Farm in Dubai.

The largest hydroponic farm in the world, supported by a $40 million investment, has officially opened its doors in Bustanica #Emirates

The largest hydroponic farm in the world, supported by a $40 million investment, has officially opened its doors in Bustanica. The facility is the first vertical farm for Emirates Crop One, a partnership between Crop One, a leader in technology-driven indoor vertical farming, and Emirates Flight Catering (EKFC), one of the largest catering companies in the world serving more than 100 airlines.

The 330,000 sq ft plant, which is situated in Dubai World Central close to Al Maktoum International Airport, is designed to produce more than 1,000,000 kilos of premium leafy greens annually while using 95% less water than traditional agriculture. The facility grows more than 1 million cultivars (plants) at any given time, with a daily output of 3,000 kg. A highly specialised internal team made up of agronomy experts, engineers, horticulturists, and plant scientists powers Bustanica’s innovative methodologies, machine learning, and artificial intelligence. Produce grown without the use of pesticides, herbicides, or other chemicals is guaranteed to be extremely fresh, clean, and pure.

From July, travellers on Emirates and other airlines can savour these delectable leafy greens, such as lettuce, arugula, mixed salad greens, and spinach, onboard their flights. Salads in the sky are not the only thing being revolutionised by Bustanica shortly, UAE residents will be able to add these greens to their shopping carts at the nearby supermarkets. Bustanica also intends to increase its production and distribution of fruits and vegetables.

Sustainability

Hydroponic cultivation uses up to 95% less water (15 litres for 1kg) than traditional outdoor
farming (317 litres for 1kg).
250m litres of water saved every year compared to traditional outdoor farming.
1,000MW saved in the production of water.
Grown indoors in a controlled environment, leading to zero soil degradation.
Nutrient-rich water is recirculated continuously and precisely to each crop, eliminating nutrient
leaching into the soil which is a concern with conventional agriculture.

produce

The risk of fungal and foodborne diseases is almost entirely eliminated as humidity levels are
managed, and limited human interaction with the crops removes the risk of contamination.
Filtered and purified water is treated with a precisely calculated mix of plant-specific nutrients
such as nitrogen, phosphorus and calcium and then delivered to the roots of the plants to
encourage peak nutritional development.
The harvested greens are beyond organic, ready to eat and don’t need pre-washing – they can be eaten straight out of the box.

About Emirates Flight Catering (EKFC)

Emirates Flight Catering is one of the world’s largest catering operations. Offering airline, events and VIP catering as well as ancillary services including laundry, food production and airport lounge food & beverage, EKFC is a trusted partner for over 100 airline customers, hospitality groups and UAE government entities. Each day, the company’s 11,000 dedicated employees prepare an average of 200,000 meals and handle 210 tonnes of laundry.

About Crop One Holding Inc.

Crop One Holdings Inc. (Crop One), headquartered in Massachusetts, USA, is an established and experienced vertical farming leader with continuous commercial operation exceeding 6 years. Leveraging new technological and biological advancements, Crop One has built a scalable, global model to bring fresh, local produce, to previously ungrowable environments.

Airlines

Alaska Airlines Acquisition of Hawaiian Airlines Reshapes the Air Travel Landscape

Alaska Air Group, Inc. (NYSE: ALK) and Hawaiian Holdings, Inc. (NASDAQ: HA) jointly announced today the execution of a definitive agreement, signifying Alaska Airlines’ acquisition of Hawaiian Airlines at a cash price of $18.00 per share. The total transaction value stands at approximately $1.9 billion, encompassing Hawaiian Airlines’ net debt of $0.9 billion.

The combination of complementary domestic, international, and cargo networks

This strategic union is poised to open up an array of additional destinations, providing consumers with increased choices in crucial air service options across the Pacific region, Continental United States, and globally.

The transaction is anticipated to establish a robust platform for growth and competition in the U.S., offering enduring employment opportunities, ongoing community investments, and a commitment to environmental stewardship.

Key Points:

Acquisition Overview:
- Alaska Air Group to acquire Hawaiian Holdings for $18.00 per share in an all-cash transaction, totaling approximately $1.9 billion.
- Combined company aims to maintain the strong, high-quality brands of Alaska Airlines and Hawaiian Airlines.
Fleet Expansion and Network Reach:
- Creates the fifth-largest U.S. airline with a fleet of 365 narrow and wide-body airplanes.
- Enables access to 138 destinations through combined networks and over 1,200 destinations via the oneworld Alliance.
Hub Development and Connectivity:
- Honolulu to become a key hub for the combined airline, offering expanded services to the Continental U.S., Asia, and the Pacific.
- Tripling the number of destinations from Hawai‘i to North America, while maintaining robust Neighbor Island service.
Commitment to Hawai‘i:
- Strong commitment to Hawai‘i, ensuring robust Neighbor Island air service.
- Aiming for a more competitive platform supporting growth, job opportunities, community investment, and environmental stewardship.
Employee and Union Commitment:
- Commitment to maintaining and growing the union-represented workforce in Hawai‘i.
- Immediate value creation with at least $235 million of expected run-rate synergies.
Investor Call and Timeline:
- Investor conference call scheduled for today at 5:00 p.m. ET / 2:00 p.m. PT / 12:00 p.m. HT.
- Anticipated closing of the transaction within 12-18 months.
Strategic and Financial Rationale:
- Complementary networks to enhance competition and provide greater choice for consumers.
- Preservation of both Alaska and Hawaiian Airlines’ brands on a single operating platform.
- Expected to deliver high single-digit earnings accretion for Alaska Airlines within the first two years.
Community and Sustainability Commitment:
- Focus on growth in union-represented jobs and strong operational presence in Hawai‘i.
- Commitment to environmental stewardship, aligning with Alaska Airlines’ five-part path to net zero by 2040.
Synergies and Accretion:
- Expected run-rate synergies of at least $235 million.
- Transaction multiple of 0.7 times revenue, approximately one third the average of recent airline transactions.
Conditions to Close:

Approval by regulatory authorities and Hawaiian Holdings, Inc. shareholders.
Expected to close in 12-18 months, with the combined organization based in Seattle under the leadership of Alaska Airlines CEO Ben Minicucci.