Bravo Purchases 10 LM-100J Commercial Freighters
Bravo Industries, LLC, announced that it will purchase 10 LM-100J Super Hercules commercial freighter aircraft from Lockheed Martin (NYSE: LMT) here today.
Bravo is a logistics and defense group with operations in and focused on Brazil. Bravo’s Logística division, which consists of Bravo Cargas and Bravo MRO (maintenance, repair and overhaul), will operate the LM-100J for air cargo operations in Brazil.
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“When we examined the market and regional demands for our logistics operations, there was only one aircraft that could do all the jobs we needed it to do to serve our customers: the LM-100J.” said JR Pereira, president and CEO of Bravo Industries. “The LM-100J is uniquely suited to reach Brazil’s underserved regions where we do business. These are areas that lack ground support and certain critical infrastructure required by other commercial freighters. The LM-100J was designed to meet the varying needs of the Brazilian landscape, in turn, allowing Bravo to deliver vital goods and services where they are needed most.”
Bravo’s air cargo services include scheduled and route-specific solutions (same-day, next-day, etc.), as well as special cargo handling (heavy, odd-shaped, hazardous, refrigerated, etc.) and custom operations.
“Bravo Industries is a natural and welcome addition to the global Super Hercules family,” said Orlando Carvalho, executive vice president, Lockheed Martin Aeronautics. “Like the C-130J on which it is based, the LM-100J is built to go where other aircraft can’t, don’t and won’t. The LM-100J is the only commercial freighter that can fully meet the varying demands of the Brazilian market. Bravo is the ideal operator to introduce the LM-100J’s unmatched capabilities in this pivotal region of the world.”
Bravo is partnered with Height Securities, a Washington, D.C.-based broker-dealer serving the company as exclusive financial advisor and placement agent. Both organizations are working directly with Lockheed Martin on this acquisition. Global law firm Squire Patton Boggs is providing legal counsel to Bravo.
“We are honored to support Bravo as it delivers reliable, principled heavy air cargo and aircraft maintenance solutions to its customers,” said John Akridge, founder and managing partner of Height. “Our colleagues at Lockheed Martin are playing an integral role in deploying this uniquely suited aircraft to the Brazilian marketplace and broader Latin American arena, and Bravo — through its use of this distinctive aircraft — is poised to revolutionize logistics offerings to achieve a better tomorrow for the region’s economies, businesses and people.”
Lateral Investment Management, a San Mateo, California-based investment firm, is providing funding to Bravo for the LM-100J acquisition.
“We see tremendous opportunities for civilian application of the Super Hercules platform,” said Kenneth Masters, managing partner of Lateral. “We are excited to provide the capital solution behind Bravo’s procurement of this exceptional aircraft.”
The LM-100J is the civil-certified version of Lockheed Martin’s proven C-130J Super Hercules aircraft. The first LM-100J is currently in production and will undergo an FAA type certificate update prior to delivery in 2018. Through select design innovations, the LM-100J will perform as a commercial multi-purpose air freighter capable of rapid and efficient cargo transport.
The LM-100J incorporates technological developments and improvements over the existing L-100s that result from years of military C-130J operational experience, including more than 1.3 million flight hours by operators in 16 nations. The result of this experience and advancement translates to an aircraft that will deliver reliable service in a multi-role platform for decades to come.
Source : Lockheed Martin Corporation (NYSE: LMT) - view original press release
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