highfields capital management lp is a hedge fund founded in 1998 which had assets in excess of $ 10 billion in 2011 , per a report in absolute return + alpha .

highfields capital management

highfields capital management <EOT> glassdoor has 2 highfields capital management reviews submitted anonymously by highfields capital management employees . read employee reviews and ratings on glassdoor to decide if highfields capital management is right for you .

glassdoor gives you an inside look at what it ' s like to work at highfields capital management , including salaries , reviews , office photos , and more . this is the highfields capital management company profile . all content is posted anonymously by employees working at highfields capital management .

2016 - present : westfield capital management 2015 - 2016 : surveyor capital 2012 - 2015 : cdp capital , inc . 2010 - 2012 : sac capital advisors 2001 - 2010 : corsair capital llc 2001 : princeton university , ba

the average salary for highfields capital management in boston , ma is $ 125 , 548 per year , ranging from $ 106 , 925 to $ 141 , 264 . compare more salaries for highfields capital management in boston , ma at paysa . com .

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molly morse , a spokeswoman for highfields at kekst & co . , declined to comment on highfields’ redemptions .

aaron cowen , chief investment officer at us $ 2 . 5 billion hedge fund suvretta capital management in new york , thinks 3g capital management team may even be better than warren buffett .

highfields capital iii l . p . ( reporting ) cik : 0001429876 ( see all company filings )

highfields capital management , a $ 13 billion hedge fund , has raised concerns about quant funds and passive investing in a letter to clients seen by business insider .

highfields capital management flagged concerns this week about computer - driven trading in its second - quarter letter to investors , a copy of which was reviewed by business insider .

with the transaction completed , bain capital and blackstone now own equal stakes in michaels stores , and funds affiliated with highfields capital management own a minority stake . senior management of the company also will acquire a minority stake in the company . the current michaels management team , led by jeffrey boyer and gregory sandfort , will continue to operate the business .

highfields capital management , the investment firm run by jonathon jacobson , told clients at year - end that it expected redemptions equaling about 3 percent of its $ 12 . 5 billion in assets .

jonathon jacobson , founder , chief investment officer and chief executive officer of highfields capital management lp , speaks at the sohn investment conference in new york , may 8 , 2013 . reuters / brendan mcdermid

dan farb , hedge fund manager at boston - based highfields capital management , which manages more than us $ 12 billion in assets , highlighted franklin resources inc . ( ben / nyse ) as a potential winner .

the company’s owners include wasserstein & company , the personal investment vehicle of the late financier bruce wasserstein . the firm , along with highfields capital management , took over the gift basket company in 2004 for $ 253 million .

his professional experience also includes senior analyst , financials team at cdp capital and equity analyst at sac capital advisors . mike began his career at corsair capital , a financial services - focused private equity firm .

oco provides intelligence and advisory services for production , sales and customer behavior management .

he said highfields will stop accepting new money at the end of the year and will likely return between 5 percent and 15 percent of its capital to clients .

highfields capital and its managed funds are not open for investment by members of the public . no offer of interests in such funds is being made or should be inferred .

quants , in particular , could worsen the next financial crisis , according to highfields , an active manager .

“high - quality managers have always endeavored to achieve a robust and sustainable capital base , but always in a manner that doesn’t sacrifice their fund’s return potential , ” said scott schweighauser , president of aurora investment management .

aaron cowen , chief investment officer at us $ 2 . 5 billion hedge fund suvretta capital management in new york , thinks restaurant brands international inc . ( qsr / tsx ) may be ready to make another acquisition .

mike joined westfield capital in 2016 as a senior security analyst and member of the investment committee covering the financial services sector . previously he was with surveyor capital as an equity research analyst focused on financial stocks .

about bain capital bain capital ( urltoken ) is a global private investment firm that manages several pools of capital including private equity , venture capital , public equity , and leveraged debt assets with approximately $ 40 billion in assets under management . since its inception in 1984 , bain capital has made private equity investments and add - on acquisitions in over 230 companies around the world , including such leading retailers and consumer companies as toys " r " us , burger king , staples , burlington coat factory , shopper ' s drug mart , brookstone , domino ' s pizza , dollarama , sealy corp . , sports authority and duane reade . headquartered in boston , bain capital has offices in new york , london , munich , hong kong , shanghai , and tokyo .

alexander roepers , chief investment office at atlantic investment management , started off his presentation by comparing general motors and tesla motors .

boston ( reuters ) - highfields capital , which oversees $ 13 billion in assets for universities , hospitals and wealthy investors , plans to return as much as $ 2 billion to clients because it believes it can deliver better returns with less money .

jacobson , 53 , co - founded highfields after managing equities for harvard’s endowment . the firm can make equity and debt investments globally in event - driven or distressed situations , including restructurings , management changes and recapitalizations . it also takes positions on the rise and fall of stocks .

brad dunkley , waratah capital advisors , best idea : linamar corp $ lnr . to roe at all - time highs

highfields gained roughly 18 percent after fees through the end of september , a source close to the firm said , swelling its assets , but making jacobson’s investment team’s job harder . highfields now wants to be closer in size to what it managed at the start of 2013 , the letter said .

the highfields capital iv lp fund , the firm ' s biggest fund , with about $ 5 . 6 billion under management , returned 1 . 2 % for the first half of the year , according to investor documents . that ' s compared with a 9 . 3 % gain in the s & p ; 500 and an 11 % gain for the msci world index over the same period .

this describes the type of investor this organization is ( e . g . angel , fund of funds , venture capital )

brad dunkley , co - ceo at toronto - based waratah capital advisors , chose a canadian company to highlight on thursday .

telling attendees at the two - day charitable event in toronto that the owner of tim hortons and burger king has the best management team in the business with 3g capital , cowen thinks qsr can climb from about us $ 43 per share today to us $ 75 .

this describes the stage of investments made by this organization ( e . g . angel , fund of funds , venture capital )

cyrus reinsurance ii holdings spc is majority - owned by investment funds affiliated with highfields capital management lp . its subsidiary , cyrus reinsurance ii limited , is a class 3 bermuda reinsurer ( " sidecar " ) that is expected to enter into a collateralized quota share reinsurance treaty with xl re ltd and xl re europe ltd ( the " ceding companies " ) . the treaty will cover policies incepting between january 1 , 2008 and july 1 , 2008 . lenders will be at risk for events occurring between january 1 , 2008 and july 1 , 2009 . capital cannot be returned to investors before september 1 , 2009 and equity capital cannot be returned to shareholders until all three loans have been repaid .

clients listed here were chosen as generally representative of the types of clients that comprise westfield capital management ' s institutional client base and were not chosen based on performance - based criteria . it is not known whether these clients approve or disapprove of the adviser or the advisory services provided

boston - based highfields uses a fundamental value - investing strategy , and though it is one of the biggest hedge funds , it doesn ' t often get much attention .

jacobson also noted that highfields will find itself sitting on a much bigger stack of cash that it needs to deploy in the coming year after many bets worked out well .

lastly , farb thinks a family and management - led buyout could surface at some point , although he believes this option is least beneficial to long - term shareholders .

great company to work for ; everyone is extremely helpful and willing to teach . very nice open company environment . senior management is very approachable and love to learn about their employees .

the redemptions , which would be about $ 375 million , come after boston - based highfields posted low single - digit returns last year , said the people , who asked not to be identified because the information is private . the firm is closed to new investments and returned about 15 percent of capital to clients in 2013 after it gained 27 percent that year .

vandad fartaj has been senior managing director and chief capital markets officer of pennymac financial services , inc . ( nyse : pfsi ) since february 2016 . he is responsible for all capital markets and investment - related activities , including the development and execution of investment strategies , secondary marketing , hedging activities and capital markets strategies with government - sponsored enterprises . in addition , mr . fartaj is responsible for developing and managing relationships with wall street broker - dealers and fixed income investors . mr . fartaj also serves as senior managing director and chief investment officer of pennymac mortgage investment trust ( nyse : pmt ) . previously , mr . fartaj was the company’s chief capital markets officer . he has served on the company’s management team since its founding in 2008 . prior to joining the company , mr . fartaj was employed in a variety of positions , from 1999 to 2008 , at countrywide securities corporation , a broker - dealer , managing the strategy and execution of the whole loan conduit . mr . fartaj is an experienced mortgage banking executive with substantial experience in capital markets , mortgage - related investments , and interest rate and credit risk management . mr . fartaj earned a bachelor’s degree in political science from the university of california , los angeles .

even with a smaller size , highfields will still rank among the $ 2 . 4 trillion hedge fund industry’s biggest players in part because it is not alone in deciding it is better to be smaller and more maneuverable .

andrew s . chang has been senior managing director and chief financial officer of pennymac financial services , inc . ( nyse : pfsi ) since january 2017 . he is responsible for overseeing the company’s financial management , reporting and controls , and tax management , as well as corporate development , portfolio acquisitions and investor relations activities . mr . chang also serves as senior managing director and chief financial officer of pennymac mortgage investment trust ( nyse : pmt ) . previously , mr . chang was the company’s chief business development officer and chief fund administration officer . he has served on the company’s management team since its founding in 2008 . prior to joining the company , mr . chang was employed at blackrock , inc . , a global investment management firm , from 2005 to 2008 , as a senior member in its advisory services practice , specializing in financial strategy and risk management for banks and mortgage companies . from 1999 to 2005 , he was a management consultant and engagement manager at mckinsey & company , a global consulting firm , advising large financial institutions in the areas of strategy , operational performance and organization . mr . chang earned an a . b . magna cum laude with highest honors in biology from harvard university .

ubs and ally have also agreed to provide $ 100 million in exit financing , while bondholders have agreed to backstop a $ 55 million rights offering meant to raise additional capital .

aspect capital ( aspect ) , the us $ 7 . 3bn systematic investment manager , today announced the launch of a ucits fund to provide investors with access to the aspect systematic global macro programme .

the boston - based money manager is the second prominent investment firm after baupost group to decide since september to shrink its capital as low interest rates and a strong stock market make it tougher to find new investments .

“while we are quite comfortable with our ability to generate good returns at our current size , we would rather be slightly smaller and generate better ones , ” jonathon jacobson , who co - founded highfields in 1998 , wrote in a letter sent to investors and seen by reuters .

balyasny asset management , which manages $ 12 billion , wrote about quants and passive investors fundamentally changing stock investing , and the $ 30 billion baupost group told clients earlier this month that low volatility could be a harbinger of " the next financial crisis . "

the firm’s investment in mortgage - servicing company ocwen financial corp . dragged on performance . ocwen’s shares fell 73 percent last year as the company was accused by us and state regulators of mishandling foreclosures . highfields’ exposure to greek bank debt also hurt returns , one of the people said .

quants could worsen the next financial crisis , jonathon jacobson , founder of highfields , wrote in the letter . he highlighted the lead - up to the 1987 financial crisis and partly blamed " portfolio insurance , " or " the concept of dynamically hedging an active portfolio with stock index futures . "

irving , tx , october 31 , 2006 – michaels stores , inc . ( nyse : mik ) today announced the completion of the merger of michaels stores with affiliates of two leading global private investment firms , bain capital partners llc and the blackstone group . on june 30 , 2006 , affiliates of bain capital and blackstone entered into a merger transaction with michaels stores for a purchase price of more than $ 6 billion . under the terms of the merger agreement , michaels stores stockholders are entitled to receive $ 44 per share in cash , without interest .

mr . tozer has been a member of our board since august 2017 . mr . tozer served as the president of the government national mortgage association , or ginnie mae , from february 2010 to january 2017 . before joining ginnie mae , mr . tozer served as senior vice president of capital markets at national city mortgage company . he also has served as a charter member of the national lender advisory boards of both fannie mae and freddie mac , chairman of the capital markets committee of the mortgage bankers association of america ( mba ) , and as a member of the residential board of governors of the mba . mr . tozer received a b . s . degree in accounting and finance from indiana university in 1979 , and is a certified public accountant ( inactive ) and a certified management accountant . we believe mr . tozer is qualified to serve on our board because of his numerous years of experience in the mortgage and financial services businesses and his deep understanding of mortgage banking and agency relations .

“we are pleased with the successful outcome of this transaction , ” mr . boyer said . “we look forward to partnering with bain capital and blackstone to take michaels stores to the next level , both operationally and financially , and to realize our company’s full long - term potential with the help of our dedicated employees . ”

“if you look at ( qsr owner ) 3g capital’s patterns – and i haven’t spoken to anybody at 3g – every two to three years they tend to ramp up the acquisition machine , ” cowen said . “they did the tim hortons deal two years ago , so it seems like it’s time to do something else . ”

despite its size and muscle as an occasional activist investor at companies such as canadian coffee - and - doughnut chain tim hortons inc , highfields and jacobson work hard to stay out of the limelight . the firm seldom touts its success in being among the first investors to spot trouble at enron before it went bankrupt , and jacobson speaks only rarely at conferences and walks around his back bay office building without attracting as much as a second glance from other pedestrians .

david m . walker has been senior managing director and chief risk officer of pennymac financial services , inc . ( nyse : pfsi ) since january 2017 . he is responsible for enterprise risk management , credit risk management , mortgage compliance and internal audit . mr . walker also serves as senior managing director and chief risk officer of pennymac mortgage investment trust ( nyse : pmt ) . previously , mr . walker was the company’s chief credit and enterprise risk officer . he has served on the company’s management team since its founding in 2008 . prior to joining the company , mr . walker served in a variety of executive positions from 2002 to 2007 at countrywide bank , n . a . , including chief credit officer and chief lending officer . from 1992 to 2002 , he served in a variety of executive positions at countrywide funding corporation ( cfc ) , including executive vice president of secondary marketing and managing director and chief credit officer . prior to joining cfc , mr . walker was employed at citibank n . a . in leveraged acquisitions and u . s . securitization and at mckinsey & company as a finance specialist . mr . walker earned a b . a . from california state university , fullerton and an m . b . a . from the university of southern california .

highfields , which has had only two losing years since its inception in 1998 , was among many firms posting smaller gains as the hedge fund industry put in its worst showing since 2011 . funds averaged gains of 1 . 4 percent in 2014 , trailing the 11 percent advance by the standard & poor’s 500 index , according to data compiled by bloomberg . seth klarman’s $ 28 . 5 billion baupost group climbed as much as 8 percent , compared with its 17 percent annualized return since inception .

daniel s . perotti has been senior managing director and deputy chief financial officer of pennymac financial services , inc . ( nyse : pfsi ) since january 2017 . he is responsible for oversight of all accounting operations , the balance sheets , analysis of realized and projected financial performance , and valuation of investment assets for the company and the entities it manages . mr . perotti also serves as senior managing director and deputy chief financial officer of pennymac mortgage investment trust ( nyse : pmt ) . previously , mr . perotti was the company’s chief asset and liability management officer . he has served on the company ' s management team since 2010 . prior to joining the company , mr . perotti was a vice president at blackrock , inc . and served as the head of the quantitative research team within its blackrock solutions business from 2002 to 2008 . mr . perotti earned his bachelor of arts in economics and computer science from columbia university in 2002 .

3 ) alignment of interests : in moody ' s opinion , there is adequate alignment of interests between stakeholders given that the ceding companies will retain 90 % of premiums and losses with ample skin in the game . additionally , any reinsurance purchased by the ceding companies for its retained portfolio would inure to the benefit of the sidecar . dividend distributions to shareholders are prohibited , mitigating some of our concerns about the highly levered capital structure .

stanford l . kurland is the founder and executive chairman of pennymac financial services , inc . ( nyse : pfsi ) . mr . kurland has been the company’s executive chairman since january 2017 . previously , he was chairman of the board and chief executive officer of pennymac financial . mr . kurland also serves as executive chairman of pennymac mortgage investment trust ( nyse : pmt ) . mr . kurland also has served as chairman of pnmac capital management , llc ( pcm ) since its formation in march 2008 , and as chairman of pennymac loan services , llc ( pls ) since its formation in february 2008 . prior to the company’s founding , mr . kurland served as a director and , from 1979 to 2006 , held several executive positions , including president , chief financial officer and chief operating officer , at countrywide financial corporation , a diversified financial services company . mr . kurland holds a bachelor of science from california state university , northridge .

anne d . mccallion has been senior managing director and chief enterprise operations officer of pennymac financial services , inc . ( nyse : pfsi ) since january 2017 , and has been a member of pennymac financial ' s board of directors since february 2018 . she is responsible for overseeing the company’s enterprise operations function and has management responsibility for legal , regulatory relations , human resources , technology infrastructure and corporate administration . ms . mccallion also serves as senior managing director and chief enterprise operations officer of pennymac mortgage investment trust ( nyse : pmt ) . previously , ms . mccallion was the company’s chief financial officer . she has served on the company’s management team since 2009 . prior to joining the company , ms . mccallion was employed by countrywide ( and bank of america corporation , as its successor ) , where she worked in a variety of executive positions , including deputy chief financial officer and chief operations officer , from 1991 to 2008 . ms . mccallion earned a b . s . from gannon university in pennsylvania and an m . b . a . from ashland university in ohio .

deutsche bank maintained fifth street senior floating rate corp ( nasdaq : fsfr ) on wednesday , august 12 with “buy” rating . maxim group maintained fifth street senior floating rate corp ( nasdaq : fsfr ) on thursday , august 10 with “hold” rating . barclays capital maintained cbs corporation ( nyse : cbs ) on sunday , august 16 with “hold” rating . icon advisers holds 0 . 22 % of its portfolio in cbs corporation ( nyse : cbs ) for 50 , 904 shares .

derek w . stark has been senior managing director and chief legal officer and secretary of pennymac financial services , inc . ( nyse : pfsi ) since february 2018 . mr . stark is responsible for overseeing all of the company’s legal management , compliance and affairs , including securities , corporate governance and corporate transactions , and he serves as the primary legal contact with the company’s board of directors . he also serves as senior managing director and chief legal officer and secretary of pennymac mortgage investment trust ( nyse : pmt ) . mr . stark previously served as the company’s managing director , general counsel and secretary , and he has served on the company’s senior management team since 2009 . prior to joining the company and after leaving private practice , mr . stark served in a variety of executive positions , including executive vice president and deputy general counsel , from 1999 to 2008 , at countrywide financial corporation . mr . stark has served on the board of trustees of west hills hospital and medical center since 2013 . mr . stark earned a b . a . in political science from the university of california , berkeley and a j . d . from loyola law school , los angeles .

4 ) cash waterfall : at each quarterly interest payment date , trust assets that exceed loss reserves and a reserve cushion can be released to pay interest . however , capacity must exist to fully pay all remaining scheduled interest and principal on the senior secured term loans before any trust capital can be released to pay interest and principal on the senior subordinated or junior subordinated loans . the same rule applies to the priority of payments between the senior subordinated and junior subordinated loans . this cash waterfall is reflected in our financial modeling .

2 ) defaults are sensitive to rate and investment income assumptions : our analysis suggests that default rates and expected loss rates to debt holders are sensitive to assumptions about premium rates and investment yields . this is fairly intuitive given that equity capital is thin ( 75 % debt , 25 % equity ) and tranche attachment points are relatively low . that is to say , investors will have to rely more on premium income and investment income to defray losses . premium rates in 2008 are uncertain . in our financial modeling , we have modeled for the possibility that rates may fall up to 20 % from their 2007 levels . additionally , we have modeled investment returns stochastically .

cyrus re ii is expected to provide collateralized quota share coverage exclusively to two subsidiaries of xl capital ltd ( nyse : xl ) - - xl re ltd ( aa3 / stable ) and xl re europe ltd ( the " ceding companies " ) . if the quota share agreement is executed , the ceding companies will pass on ( cede ) - - and cyrus re ii will assume - - 10 % of the premiums and losses on a future portfolio of non - proportional catastrophe reinsurance contracts . those underlying contracts will be written in 2008 and will cover natural catastrophe risks throughout the world . the future portfolio is expected to be similar to the ceding companies ' existing portfolio as client retention tends to be relatively high . this quota share agreement , if executed , will be distinct and separate from the ceding companies ' previous sidecar , cyrus reinsurance limited .

doug jones has been senior managing director and chief mortgage banking officer of pennymac financial services , inc . ( nyse : pfsi ) since january 2017 , and he was appointed president of pennymac loan services ( pls ) in march 2017 . mr . jones is responsible for all business activities relating to the company’s loan production , loan servicing and application development operations . mr . jones also serves as senior managing director and chief mortgage banking officer of pennymac mortgage investment trust ( nyse : pmt ) and as senior managing director and chief mortgage banking officer of private national mortgage acceptance company , llc ( pnmac ) . previously , mr . jones was the company’s chief correspondent lending officer . he has served on the company’s management team since 2012 . prior to joining the company , mr . jones worked in several executive positions , including senior managing director , correspondent and warehouse lending , at countrywide ( and bank of america corporation , as its successor ) from 1997 until 2011 , where he was responsible for managing and overseeing retail sales at bank of america , in addition to correspondent and warehouse lending operations . mr . jones earned a b . a . in economics from california state university , sacramento .

harry & david , the purveyor of fruit - filled gift baskets , filed for bankruptcy protection on monday as part of an effort to reorganize its troubled finances .

the company filed what is known as a prearranged chapter 11 plan in delaware bankruptcy court . under that plan , bondholders would take over by converting their debt holdings into equity .

the prearranged chapter 11 plan , which could eliminate almost all of harry & david’s $ 198 million in bond debt , is meant to avoid a protracted struggle in bankruptcy court as the company continues trying to rebound from its recession - related woes .

“we believe that entering into this agreement provides the best opportunity for harry & david to restructure its balance sheet on an expedited basis , strengthen its operations and create long - term value , while continuing to provide customers with the highest quality products and service , ” kay hong , chief restructuring officer and interim chief executive , said in a statement on monday .

harry & david’s existing lenders , ubs and ally financial , have agreed to provide about $ 100 million in debtor - in - possession financing to help it continue operating while in bankruptcy . bondholders would provide another $ 55 million .

harry & david’s plans come as no surprise . the company has been working with advisers — the investment bank rothschild , the law firm jones day and the consulting firm alvarez & marsal — on possible reorganization options .

a weak holiday season helped drive some of harry & david’s troubles . for the quarter that ended dec . 25 , sales fell 1 . 8 percent , to $ 262 . 1 million , compared with $ 267 million in the period a year earlier . gross profit dropped 20 . 6 percent , to $ 104 . 2 million .

“during the 2010 holiday season , the debtors expected a significant improvement in sales performance , which ultimately did not materialize , ” ms . hong wrote in a court filing . “in order to clear inventory purchases , the debtors were forced to discount even more heavily than anticipated . ”

last month , harry & david warned in a regulatory filing that it might need to file for bankruptcy . and this month , the company skipped a $ 7 million interest payment on some of its bonds as it negotiated with its creditors .

wasserstein & company , which also owns some of harry & david’s bonds and is expected to retain some equity , has already recouped 1 . 25 times its initial investment , according to a person briefed on the matter who was not authorized to speak publicly about confidential investor details .

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new york , november 27 , 2007 - - moody ' s has assigned the following ratings to three proposed bank loans of cyrus reinsurance ii limited ( " cyrus re ii " ) : ba1 to the $ 65 million senior secured term loan , ba3 to the $ 20 million senior subordinated secured term loan , and b3 to the $ 20 million junior subordinated secured term loan .

" cyrus re ii is a type of limited purpose reinsurer that is commonly referred to as a ' sidecar ' , " explains senior analyst kevin lee . " the sidecar will be capitalized with $ 35 million of equity and $ 105 million of term loans ( 75 % debt , 25 % equity ) , " notes mr . lee . " the term loans are arrayed in tranches , each having a different probability of attachment , expected loss , and priority with respect to interest and principal payments , hence the difference in ratings . "

the ratings for the term loans are supported by moody ' s financial modeling to determine both the probability of default ( " pd " ) and expected loss ( " el " ) to lenders . the most important inputs into the financial model are the annual aggregate probability loss curve derived by the ceding companies ( the " base curve " ) , premium assumptions , and investment income assumptions . moody ' s applied stress factors and performed sensitivity analysis on all three inputs ( see below ) . the pds and els from our simulation runs were then compared to moody ' s idealized default rates and expected loss rates over a weighted average life of about 1 . 7 years for each loan . finally , the assigned ratings also reflect , in our opinion , sufficient alignment of interests between stakeholders .

for more information on moody ' s approach to rating sidecars , as well as a comparison of sidecars and cat bonds , please refer to our special comment titled " reinsurance sidecars : moody ' s five principles " , dated march 2007 .

1 ) model risk : catastrophe modeling error is the most important risk factor . the ceding companies modeled their existing portfolio using rms 6 . 0 peril models that are common in the industry . parameter uncertainty , the quality of input data , and how the models are used can all contribute to modeling error .

in general , the current portfolio is diversified with respect to geography and layers of coverage . a majority of the current portfolio consists of personal lines and standard commercial risks which generally offer more homogeneous data than industrial and surplus lines risks . the ceding companies receive exposure data from clients or brokers for nearly all underlying contracts , allowing the ceding companies to duplicate the modeling work with all discretionary ( more conservative ) settings applied ( e . g . , near - term hurricane event rates , secondary perils like storm surge , fire following and , when feasible , sprinkler leakage , loss amplification , and secondary uncertainty ) . one notable exception is assumed retrocession business ( 2 . 5 % of current portfolio limits ) , for which exposure data isn ' t available , but is nonetheless modeled by the ceding companies . many of the covered perils are modeled using rms 6 . 0 peril models . european flood , european earthquake and attritional losses ( e . g . , midwest floods , brushfires , etc . ) are modeled using in - house curve fitting methods .

moody ' s has applied a moderate load to the base curve to account for the following elements : 1 ) potential deviations from the expected portfolio ( e . g . , exposure growth and change in mix ) ; 2 ) difficult - to - model classes of business such as industrial and surplus lines risks ( estimated to be roughly 20 % of current portfolio limits ) ; 3 ) non - modeled contract elements such as loss adjustment expenses and extra - contractual obligations ( i . e . , bad faith claims ) ; 4 ) inherent uncertainty in peril modeling especially as it relates to perils like earthquakes where little historical data is available for model calibration ; and 5 ) a small load for perils that are not modeled by any methods such as volcanic eruption , meteorite impact , tsunami , domestic terrorism and industrial / residential conflagration .

cyrus reinsurance ii limited - - $ 20 million junior subordinated secured term loan at b3 .

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traders on the floor of the new york stock exchange shortly after the closing bell .

quants use algorithms to make investment bets , while passive funds track market indexes . both are challenging active managers , the human - backed stock pickers that have traditionally dominated wall street .

a $ 13 billion hedge fund that flies under the radar is sounding the alarm on one of the biggest investment trends : quants and passive investing .

portfolio insurance , he wrote , contributed " to the complacency as the market ascended to nosebleed territory and most definitely contributed to the downward spiral of that fateful friday , monday , and tuesday in october 1987 . "

" the strategies employed by many of today ' s quant and other systematic investors are essentially the same thing , " he wrote . " they weight securities or asset classes based upon their ' risk ' as measured by volatility . much like portfolio insurance , this strategy gives the purveyor the comfort to take more risk than he or she would otherwise take , and ' works ' well in benign markets . "

quant strategies have recently pulled in huge amounts of money , becoming some of the biggest players in hedge funds . renaissance technologies , a secretive computer - driven fund , increased its assets by about 42 % last year , adding $ 12 billion , and two sigma investments grew by 20 % , adding some $ 5 billion over last year , according to the hedge fund intelligence billion dollar club ranking .

" the bigger point is that the ability for both passive and quant funds to outperform active , fundamentally oriented managers into perpetuity is improbable at best . in regard to the ' quants , ' hundreds of billions of dollars can ' t exploit the same ' inefficiency ' for long . my sense is that we are a lot closer to the end than the beginning of these strategies producing excess returns . "

jacobson also touched on the market ' s historic low volatility , a common theme in hedge fund managers ' recent client letters . managers usually send letters to their clients in the weeks after the close of each quarter .

" common sense would suggest markets should be more fragile , not less . congress is hopelessly gridlocked . the attempt to reform obamacare failed miserably . it seems more unlikely every day that either major tax reform and / or some sort of economic stimulus package will be enacted , and these are the twin premises that have underpinned the ' trump trade . ' central bankers seem determined to end the dual policies of zero interest rates and quantitative easing . and from a geopolitical standpoint , we have a highly inexperienced and impetuous president sitting atop a world that has never seemed more precarious . "

" typically , protracted periods of good market performance are characterized by low volatility and excessive complacency . we can ' t prove this , but we are convinced that ' quant ' funds , which have attracted hundreds of billions of dollars in the last few years and a significant portion of which use leverage , and whose models and various strategies are largely based on price action and correlations extracted from the reasonably recent past when volatility has been low ( largely of their own making ) , have contributed mightily to the illusion that market risk is low . as the money continues to flow into these strategies , this dynamic becomes self - fulfilling . "

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decisions by top investment firms to limit access might prove disappointing for institutional investors , who have been increasingly seeking access to hedge funds as a safe and low - volatility option in a tricky investing landscape , but might now be shut out .

like other managers who have worried aloud about where to find the next top investment , jacobson , whose firm listed 102 u . s . stock positions at the end of the second quarter , said a strong stock market factored into his decision to slim down .

“it has become increasingly difficult to find new compelling investments given today’s low interest rates and how much equity multiples have expanded over the past 12 months , ” he wrote .

“as a handful of hard catalysts in some of our existing positions have come to fruition and with the continued run - off of our credit book , we foresee 15 - 20 percent ( and perhaps more ) of the current portfolio turning into cash over the next 12 - 18 months , ” he wrote .

jacobson and his team have already started to take some profits from successful positions . for example , in the second quarter , the firm trimmed its bet on lender slm corp , whose stock rose 44 . 5 percent this year . it also cut its position in united parcel service inc , whose stock climbed 23 . 5 percent his year , regulatory filings show .

finally , jacobson said the firm has made money by shorting , or betting against , certain securities , but that it was becoming more difficult to make these investments as the firm grew .

seth klarman’s $ 28 billion baupost group , one of the world’s biggest hedge funds , plans to return a yet - to - be - decided sum of money to clients at year’s end , two people familiar with the boston - based firm’s plans said last month .

it would be only the second time in klarman’s 31 years of running baupost that he is giving money back , and the reason is that it is getting tougher to put all of the cash to work , said the sources , who asked not to be named .

daniel loeb’s $ 13 billion third point llc also decided earlier this year to stop taking in any new money as a way of limiting the fund’s size .

institutional holdings information is filed by major institutions on form 13 - f with the securities and exchange commission .

washington trust provides $ 19 . 5 million in financing for multi - tenant retail center in waterbury ,

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palau trans pacific ( palau trans pacific airlines ) was an airline based in koror , palau .

it was a regional airline linking palau with key cities in east asia , including taipei , using wet-leased aircraft from far eastern air transport .

it is not clear if the airline is still operational .

palau trans pacific airlines

palau trans pacific airlines <EOT> at urltoken you can search for cheap tickets with palau trans pacific airlines and 1200 other airlines to all destinations around the world . below are some quick facts , routes and best deals with palau trans pacific airlines .

flights with palau trans pacific airlines are becoming more and more popular . right now , palau trans pacific airlines is offering an extraordinary number of cheap flights ; established airlines such as palau trans pacific airlines often offer a special quota of cheap flight tickets to certain airports . but to get a real deal , you should compare the prices of palau trans pacific airlines with other airlines on skycheck uk , book early and be as flexible as possible with your travel dates . with skycheck uk , you can quickly and easily find your flight with palau trans pacific airlines .

palau pacific airways is the national charter airline of palau . it was founded in nov2014 & commenced operations on 11nov2014

trans state airlines , inc . d / b / a trans world express - united states of america

palau pacific airways is the national charter airline of palau . it was founded in nov2014 & commenced operations on 11nov2014 [ updated ]

you do not know how to find cheap flights from palau trans pacific airline airline ? despite the above reservation form , you can search , compare and book the cheapest flights around the world . all information and conditions regarding the storage , handling options from palau trans pacific airline at the airport ( online check - in via the internet ) . do you have a fixed budget for flights ? pipe the current promo codes from palau trans pacific airline .

are you looking for contact information on business / sales department palau trans pacific airline airlines ? all contacts ( phone , email , online chat , online booking ) can be found on the official website palau trans pacific airline . as well as information about changes in the flight schedule , prices one - way / return tickets , discounts on flight tickets for direct or charter flights . so how do you call the customer service line palau trans pacific airline ? visit the website direct dealer contact and call !

trans state airlines , inc . d / b / a american connection - united states of america

air nevada airlines inc . d / b / a pacific wings - united states of america

the taipei tty airport is the main gateway of taiwan . it can be accessed via over 190 non - stop and direct flights from 56 major cities throughout the world . the carriers are air macau , air new zealand , air nippon , angkor airways , asiana airlines , cathay pacific , china airlines , eva airways , continental , dragon air , japan asia airways , korean air , far eastern air , northwest , klm , malaysia airlines , mandarin airlines , palau trans , pacific airlines , philippine airlines , thai airways , transasia airways , united airlines and vietnam airlines .

palau air was formed in 2002 & intended to start operations in 2003 on international services but was renamed to palau micronesia air prior to start - up .

british north west airlines ltd . t / a british northwest airlines - united kingdom

“our history of trans - pacific and international flight is actually three different stories , ” says rick . “stan kennedy sr . made the first application for international routes with the

central charter airlines , a . s . ( central connect airlines ) - czech republic

south pacific air charters ltd . t / a freedom air international - new zealand

philippine airlines ( pal ) [ 10 ] , cebu pacific [ 11 ] , air asia [ 12 ] are the national carriers .

australia and southwest pacific : philippine airlines offers direct flights to manila from sydney , melbourne as well as flies to darwin and brisbane , and auckland , new zealand while qantas flies direct to manila from sydney from brisbane . air niugini serves manila from port moresby , while jetstar airways serves manila from darwin and perth . philippine airlines also has flights between manila and guam , while united airlines serves manila from guam and koror ( palau ) . cebu pacific airlines has direct flights from sydney to manila . philippines airlines now also flies to new zealand .

caribbean sun airlines , inc . d / b / a world atlantic airlines - united states of america

trans european airways ( uk ) ltd . d / b / a tea ( uk ) ltd . - united kingdom

eagle canyon airlines , inc . d / b / a scenic airlines inc . - united states of america

palau is an independent republic in the western pacific ocean , part of the island group of micronesia . an archipelago of about 200 islands , palau is situated near the equator about 850 km ( about 500 mi ) east of the philippines . palau became a self - governing nation in october 1994 , when it entered into a compact of free association with the united states . koror , which covers the island of the same name , is the country ' s largest town and the provisional capital . a new capital is being built on the island of babelthuap .

mactan - cebu international airport [ 44 ] ( iata : ceb | icao : rpvm ) in cebu is the philippines ' second - busiest airport and a major hub for visitors headed to points in the visayas and mindanao . several of the airlines which serve manila also serve cebu . low cost airlines air aisa from kl , scoot airways from singapore , cebu pacific from singapore , hongkong and taiwan fly to cebu . silkair ( part of singapore airlines ) , emirates , cathay pacific , korean air , eva air , asiana airlines , xiamen air also fly to cebu .

east asia : air china [ 14 ] and china southern airlines [ 15 ] serve manila from beijing , while china southern airlines also serves manila from guangzhou and xiamen . air china has some of the best fares from europe and north america to manila . cathay pacific [ 16 ] , dragonair [ 17 ] and hong kong express airways [ 18 ] have several flights between manila and hong kong . cebu pacific and philippine airlines also have direct flights between manila and beijing , shanghai , hong kong , macau , xiamen and taipei . china airlines [ 19 ] and eva air [ 20 ] serves manila from taipei , while china airlines also flies to manila from kaohsiung . korean air [ 21 ] , asiana airlines [ 22 ] , philippine airlines and cebu pacific serve manila from seoul and busan , while jeju air [ 23 ] serves manila from seoul . several airlines fly between the philippines and points in japan . all nippon airways [ 24 ] flies direct to manila from tokyo - narita , and is notably the only foreign airline to currently use terminal 3 . japan airlines [ 25 ] also flies to manila from tokyo . philippine airlines serves manila from tokyo , osaka , nagoya and fukuoka , and cebu pacific serves manila from osaka . delta air lines also operates daily flights from nagoya and tokyo - narita .

the results are in for world ' s best airlines for 2018 the world’s best airlines for 2018 have been announced with air new zealand taking out . . .

lao central airlines public co . , ltd - lao people ' s democratic republic

crossair ltd . d / b / a swiss international airlines ltd . - switzerland

southeast asia : philippine airlines and cebu pacific have extensive southeast asian networks . pal and cebu pacific both serve manila from bangkok , ho chi minh city , jakarta ( pal has both direct flights and flights via singapore ) and singapore , while cebu pacific also serves manila from bandar seri begawan ( brunei ) , kuala lumpur and kota kinabalu . scoot airways [ 26 ] fly to manila daily from singapore . jetstar asia airways [ 27 ] and singapore airlines [ 28 ] have multiple daily flights to manila from singapore , while thai airways [ 29 ] has multiple daily flights from bangkok . malaysia airlines [ 30 ] has a double - daily service between manila and kuala lumpur , and royal brunei airlines [ 31 ] flies to manila from bandar seri begawan .

iloilo international airport ( iata : ilo | icao : rpvi ) in iloilo is served by cebu pacific , with flights to hong kong and singapore .

j7 vja valujet airlines critter united states now operating as airtran airways . j7 reassigned .

ata airlines , inc . d / b / a ata - united states of america

anglo airlines ltd . d / b / a anglo cargo ltd . - united kingdom

aerolinea principal chile s . a . t / a pal - principal airlines - chile

rutas aereas , c . a . d / b / a rutaca airlines - venezuela

chautauqua airlines , inc . d / b / a usair express - united states of america

delta air transport n . v . d / b / a sn brussels airlines - belgium

pinnacle airlines , inc . d / b / a northwest airlink - united states of america

aom - minerve s . a . d / b / a aom french airlines - france

malev hungarian airlines public limited company ( malev p . l . c . ) - hungary

piedmont airlines , inc . d / b / a usair express - united states of america

vision airlines , inc . d / b / a vision air - united states of america

skyway airlines , inc . d / b / a midwest connect - united states of america

prime air , inc . d / b / a transmeridian airlines - united states of america

k5 sqh seaport airlines sasquatch united states former airline : wings of alaska now part of seaport airlines . alternative callsign : wings ( for vfr flights only ) . former icao code : wak .

allegheny commuter airlines , inc . d / b / a usairways express - united states of america

allegheny commuter airlines , inc . d / b / a usair express - united states of america

american eagle airlines , inc . d / b / a american eagle - united states of america

eagle jet charter , inc . d / b / a scenic airlines - united states of america

express airlines i , inc . d / b / a northwest airlink - united states of america

express airlines 1 , inc . d / b / a northwest airlink - united states of america

northwest seaplanes , inc . d / b / a san juan airlines - united states of america

van gaever & co . n . v . d / b / a delsey airlines - belgium

van gaever & co . n . v . d / b / a vg airlines - belgium

piedmont aviation services , inc . d / b / a pace airlines - united states of america

africa : passengers from african countries can utilize ethiopian airlines which connects from addis ababa to manila .

online check - in is also available for singapore airlines flights . please follow the steps below .

here a list ( ordered alphabetically by name ) of the airports we know in palau . if you know of an airport that is missing or one that is no longer in operation , let us know : )

during this period hawaiian was not only competing against big guns like united , pan am and continental , but now also had aloha airlines to contend with . founded in 1946 as trans - pacific airlines , or tpa , the company had changed its name to aloha airlines in 1958 . from the start tpa was competing with hawaiian for interisland passengers and freight . “by 1960 , ” says rick , “it was the same story again : in the archives we have correspondence from the cab saying , more or less , ‘you’re going to get the approval , it’s a done deal , don’t worry about it . ’” but the process dragged on , and ultimately hawaiian’s board of directors again put a stop to it .

national air cargo group , inc . d / b / a national airlines - united states of america

nac aviation business centre ( pty ) ltd . d / b / a national airlines - south africa

mega global air services ( maldives ) pvt . ltd . t / a mega maldives airlines - maldives

search and book your singapore airlines flight tickets online via traveloka to get the best price and promotions .

qf eaq eastern australia airlines eastern australia iata dupe with parent qantas . also uses 2 letter icao ea .

ozark air lines , inc . d / b / a / great plains airlines - united states of america

air south , inc . d / b / a shawnee airlines , inc . - united states of america

europe : philippine airlines provides nonstop service between london ( heathrow ) and manila daily . klm has flights to and from amsterdam with a stop in taipei . turkish airlines flies non - stop from istanbul ( atatürk airport ) to manila

before their departure date , adult passengers are required to contact the nearest singapore airlines office to prepare the safety requirements .

singapore airlines is one of the biggest airlines in southeast asia , based in singapore international changi airport . as a member of the star alliance , singapore airlines flies to more than 62 destinations in 32 countries and offers a variety of classes , from economy class to suites . in 2010 , the airline was recorded as the second largest airline in the world by market capitalization .

however , since airlines are subject to heavy fines if one of their passengers are refused entry , many of them are far more vigilant in enforcement than the actual immigration officers ! ( this is known to be a particular problem when flying cebu pacific from sydney to manila , with a few passengers left behind in floods of tears on almost every flight . )

exec . express ii , inc . d / b / a aspen mountain air / lone star airlines - united states of america

francisco bangoy international airport ( iata : dvo | icao : rpmd ) in davao is served by silkair [ 45 ] and cebu pacific with daily flights to and from singapore . air asia also fly nonstop from davao to kuala lumpur .

you can easily change your flight schedule and itinerary using easy reschedule . some airlines allow changes to date , time , route , and airline , while some only allow changes to date and time . please refer to singapore airlines reschedule terms & conditions to find the complete guide to rescheduling your flight . if your flight is not eligible for easy reschedule , please contact singapore airlines directly to reschedule .

get the best singapore airlines promotion and deals from traveloka . register your email and enjoy up to 70 % member - only discount !

middle east : philippine airlines [ 32 ] serves riyadh , dammam , abu dhabi and dubai from manila . emirates [ 33 ] and cebu pacific [ 34 ] serves manila from dubai , while etihad airways [ 35 ] serves manila from abu dhabi . gulf air [ 36 ] serves manila from manama ( bahrain ) , while qatar airways [ 37 ] serves manila from doha . kuwait airways [ 38 ] serves manila from kuwait city . saudi arabian airlines [ 39 ] serves manila from dammam , jeddah and riyadh .

singapore airlines provides diapers and milk bottles in the airline . however , passengers are encouraged to bring their own supplies for their own convenience .

singapore airlines e - ticket is an eligible proof for booking an singapore airlines flight . show your e - ticket during check - in at the singapore airlines counter at the airport , or use it for self check - in ( at the airport or online ) , to get your boarding pass . if you have not received your e - ticket within 60 minutes after payment is completed , please contact traveloka customer service .

passengers who are connecting to an philippine airlines flight and vice - versa may avail of a free airside shuttle service between terminals 2 and 3 .

these days the ability of airlines to fly between countries is governed by bilateral air service agreements , which are essentially international trade agreements . most of these agreements allow airlines to operate whatever routes they believe are commercially sensible , though in some instances the number of available routes and frequencies is limited . in these latter cases the airlines of one country submit applications to their home government , which then selects the winners and informs the other country .

urltoken the world’s only safety and product rating website has announced its top 20 safest airlines for 2018 from the 409 it monitors . the top . . .

airlines may refuse to let you check in if you only have a one - way ticket to the philippines due to immigration requirements . cebu pacific air will require a printed copy of an onwards " itinerary receipt " at check in . if you want to risk not having an onwards ticket , try to check in early to allow yourself time to buy a ticket at an internet cafe or ticket desk in the airport if the airline refuses to check you in .

several airlines fly in and out of manila , servicing various destinations . philippine flight network provides updated information on all of the latest airline news , routes , and destinations .

in general , refunds are permitted for personal reasons ( self - cancellation , sickness , pregnancy , or death of a passenger ) , cancellation / rescheduling by the airline , force majeure , or double booking . however , different airlines have different policies regarding acceptable refund reasons . please visit singapore airlines refund policy for a complete information on refund .

more than 350 scheduled and low cost airlines to choose from as well as apg airlines flights are easy to come by on bravofly . the volume of different solutions with apg airlines are amazing ! lost for choice from the dozens of apg airlines flights available ! to help ist customers , bravofly provides filtering tools so you can search , compare and book the ideal flight for you in minutes . discover bravofly’s selection of flight offers chosen from millions of searches performed . review and book a flight with apg airlines that best matches your travel criteria . check the status of your flight from the bravofly smatphone app . download it now and be sure to get to the airport on time for departure . so you are keen traveller - sign up to bravofly newsletters and never miss the latest special offers and promotions . there’s always a great deal to be found on our social networks too !

payment for your singapore airlines ticket can be made via credit card , internet banking , and cash at counter . for complete information about payment methods , please visit how to pay .

ninoy aquino international airport ( naia ) [ 13 ] ( iata : mnl | icao : rpll is divided into four terminals : terminals 1 , 2 , 3 and the domestic terminal ( also known as terminal 4 ) . all airlines use terminal 1 or 3 with a few exceptions : philippine airlines uses terminal 2 , and air asia domestic flights use the domestic terminal .

singapore airlines offers a frequent flyer program called krisflyer for its loyal passengers . the program is divided into several levels , such as krisflyer , krisflyer elite silver , krisflyer elite gold , and priority passenger service club . krisflyer , the most basic program , is awarded to passengers who book their first flight with singapore airlines ; krisflyer elite silver is a special service offered to passengers with the star alliance silver status ; krisflyer elite gold is granted to passengers in the gold category ; and last but not least , the priority passenger service club grants its members access to all the luxurious amenities of star alliance and singapore airlines .

all passengers in economy class will be offered the standard airline menu . however , singapore airlines also accommodate passengers with special dietary restrictions . passengers who require a special menu need to make their request prior to departure .

please find the check - in time for all singapore airlines flights on the table below . check - in time may vary if your flight is operated by a partner airline . please check your e - ticket to ensure .

the book the cook facility provides first class passengers with a variety of palatable dishes that can be ordered 24 hours prior to departure . passengers can savor their favorite foods and wine , which are served by the singapore airlines international culinary panel .

hawaiian airlines’ current phase of global expansion began in 2007 . at the time the airline was already flying to sydney and planning to add a route to manila . new airbus a - 330s were ordered , with the first set to be delivered in 2012 .

1944—that’s how early this got started . ” so early , in fact , that one of kennedy’s proposed destinations , manila , included stops on palau and chuuk ( then known as truk ) , neither of which had yet been liberated from japan—this was a year before the war ended . when the honolulu advertiser first wrote of kennedy’s plan in its july 10 , 1944 , edition , the story noted that saipan—“whose conquest united states troops completed saturday”—would be part of this same route . another proposed route , to shanghai , would include stops at midway and tokyo .

singapore airlines ' first class was first introduced in 2013 . designed by james park associates , the first class offers a series of luxurious facilities and services such as wider seats and beds , the latest personal entertainment from krisworld , and a full breakfast with tea .

we are pleased to welcome you to bravofly , the first search engine for low cost flights and other services with 100 % “made in italy” technology . if you are looking for a flight with apg airlines you’ve come to the right site , bravofly looks for flights from over 1000 low cost and scheduled airlines . finding the flight with apg airlines that suits you best is really easy : just fill in the search form and start the flight search . if you have too many results for your flight apg airlines don’t despair , you can still refine your search using the filters we have provided . have a look at the flight offers that bravofly has extracted from over 15 million searches performed by our users on the site . here is just a small selection of those that most closely match your search for apg airlines flights . if you haven’t done so yet , download the bravofly smartphone app free of charge . just one app gives you the power of the bravofly low cost flight search engine . you can look for and buy your airline tickets directly from your smartphone . make the bravofly site your partner for organising trips , whether for business or pleasure , and add bravofly to your favourite sites . you can also sign up for our newsletters so that you keep up to date with the latest best flight offers .

in his aloha shirt and weathered baseball cap , richard “rick” rogers doesn’t quite fit the mold of an archivist . in fact , there’s not a lot about him that fits any mold : a commercial pilot—he flew for hawaiian airlines from 1987 through his retirement in 2010—he’s also a

business class in singapore airlines are divided into three categories : regular business class , business class , and new business class . the regular business class cabin features passenger seats that can be converted into a simple bed ; the business class cabin offers seats that can be transformed into a much larger space for more privacy ; while the latest business class version known as new business class features a full bed facility for maximum convenience and comfort . these features have succeeded in securing singapore airlines a nomination for the world’s best business class in skytrax awards 2011 .

these days it is hard to imagine that hawaiian airlines ever struggled to enlarge its route map . in the last three years alone , the airline has added japan , south korea , china and new zealand to an international schedule that already included australia , american samoa and tahiti .

kalibo international airport ( iata : klo | icao : rpvk ) in kalibo , aklan ( near boracay ) is a air asia hub , with flights to kl , seoul , shanghai and taipei . other airlines also have scheduled charter flights to kalibo from points in south korea , china and taiwan .

singapore airlines introduced its premium economy class for the first time in 2015 . collaborating with the german manufacturer of commercial aircraft seats zim flugsitz , the seats in the premium economy class are larger than the seats in economy class . the seats are also equipped with a personal reading light , two sets of usb ports , and a power supply .

the route networks of most local airlines are heavily centered around manila , clark and cebu : flying between two domestic points usually entails having to transit through at least one of these airports , and there are few direct flights between other major cities . reaching sulu and tawi - tawi by air is a special case : travelers must fly through zamboanga city .

the redesigned seats of the economy class were introduced in 2013 . it features a more spacious legroom , a slimmer seat design with adjustable headrests , and the latest entertainment from krisworld , the airline’s in - flight entertainment system . this new design is a regeneration of the old economy class and will be applied in all types of aircraft in the singapore airlines fleet .

more information on our airline and safety ratings can be found here or by simply clicking on the safety rating link next to each airline . the maximum rating an airline can get for safety is seven stars . we also provide information on the history , aircraft types and in - flight offering ( meals , drinks , seating and in - flight entertainment ) for most airlines .

the menu in suites is crafted by eight top chefs from around the world , including from the united states , italy , and japan . through the book the cook service , passengers can order their favorite food no later than 24 hours prior to departure . singapore airlines also provides yummy ! menu , tempting yet healthy menus for children between the age of 2 and 11 .

working with professional chefs who are congregated under the singapore airlines international culinary panel , the airline has been able to spoil its passengers with a broad range of menu featuring a plethora of special dishes . in the premium economy class , passengers can even order their personal favorite food if they make the reservation at least 24 hours prior to their departure through the book the cook feature .

in 1966 the airline took one last shot , this time with the trust territory of the pacific islands . following world war ii , much of micronesia came under a united nations trusteeship—the trust territory—which remained in effect from 1946 through 1986 as the various island nations underwent the decolonization and self - determination process . the trust territory was administered by the united states and included the islands that the airline had previously sought to add to its route schedule back in 1944 . ultimately the airline lost this bid to continental , which established air micronesia in 1968 . following this disappointment , in terms of scheduled passenger service beyond hawai‘i’s shores at least , the airline went all but dormant for nearly twenty years .

north america : delta air lines serves manila from detroit via tokyo narita . passengers transit in japan to other delta flights to other east asian or us cities . philippine airlines serves manila from los angeles , san francisco , vancouver , toronto and honolulu . a popular option for passengers flying to the philippines from north america is to fly via tokyo , osaka , seoul , hong kong or taipei .

capa profiles help you identify new business opportunities and make better business decisions , by providing accurate and up - to - date data on airports , airlines , suppliers , investors , mros , lessors and countries around the world . each profile offers comprehensive news and analysis , as well as the ability to drill down into data on schedules , capacity share , fleet , traffic , financial results and more .

the challenges kennedy faced were not limited to the war . every new route within the united states required approval of the cab , which also regulated pricing . hawai‘i was still a territory , with congressional representation limited to a single nonvoting delegate in the house of representatives . an island - based airline simply couldn’t wield the same kind of bureaucratic influence as those based on the continent . kennedy was a visionary and not one to give up easily . writing about this era in wings of history : hawaii’s incomparable airlines

of course , these additions did not occur overnight , but compared with the airline’s early attempts to fly beyond the hawaiian islands , they have come at lightning speed : though it began flying passengers within the islands in 1929 as interisland airways , hawaiian airlines’ first scheduled passenger flights to the continental united states didn’t take place until 1985 , with scheduled international flights ( to tahiti and the cook islands ) following two years later . the effort to establish those first flights spanned more than forty years and three generations of aircraft .

beware of airlines usurping the role of immigration officers technically you are supposed to have at least six months remaining on your passport on the date you are scheduled to leave the philippines , even if you qualify for visa free entry . however , it ' s almost unheard of for philippines immigration officers at ports of entry to actually enforce this requirement ( unless fishing for a bribe ) ; indeed alien children of returning balikbayan have been known to have been granted permission to stay for the usual 12 months when only 4 months remained at entry on their passports .

ultimately , it took an act of congress to help hawaiian establish its overseas routes . the cab had over the decades proved to be a bureaucratic quagmire , with route approval often taking years and almost always favoring the largest carriers . in 1978 the airline deregulation act was passed , which among other things mandated a multi - year phase - out of the cab . from that point forward , us airlines were in essence allowed to fly any domestic route they chose and to set whatever prices they wanted . the cab closed for good on january 1 , 1985 .

created by paris - based fashion designer pierre balmain in 1968 , the " sarong kebaya " is traditionally made from asian batik . as well as the blue sarong kebaya that characterizes singapore airlines , the uniform of the female flight attendants are presented in four other colors , each signifies the role of the wearer : blue is for flight attendants , green for supervisor attendants , red for the head of flight attendants , and purple for in - flight supervisor . the roles of male cabin crew can also be distinguished in the same way , by the color of their ties .

“one of the curiosities about this business is that you buy airplanes that will be with you for twenty - five years , and with the lead time they won’t be delivered for five to seven years , ” says hawaiian airlines ceo mark dunkerley . “so you’re really peering into the murky depths of the uncertain future and making some very substantial bets . well , we did that , and we said , ‘starting in 2010 and over the next decade , we will grow our international network ; there will be a fairly steady cadence of one to two routes per year . ’ and we committed to that in early 2008 . ”

a significant majority of domestic flights in the philippines are operated by low - cost carriers and are consequently economy - only : pal is the only airline to offer business class on domestic flights . this does not mean however that fares are affordable : domestic seat sales are a common feature throughout the year , and all major airlines regularly offer promo fares on their websites . however , fares increase significantly during major peak travel seasons ( particularly during christmas , holy week and the last two weeks of october ) , and in places served by only one airline ( such as vigan or marinduque ) , fares also increase during major provincial or town fiestas . flights are frequently full during peak travel season , so it is advisable to book well in advance .

this phase - out coincided with more change at hawaiian . in 1984 , after a good deal of internal turmoil , the airline began to expand again . three long - range dc - 8 jets were added to the fleet that year , and military and civilian charter services resumed . in hindsight the demise of the cab and the addition of the first scheduled service to los angeles ( 1985 ) , seattle and san francisco ( both in 1986 ) seem something of an anticlimax . but combined with its international charter service and the first of its scheduled passenger flights to tahiti and the cook islands ( 1987 ) , hawaiian airlines had become a truly global airline . hawaiian’s planes were literally all over the planet , and it was at times a wild ride .

next to buses and some times low cost airlines , ships are the cheapest modes of transports when getting around the country . fares can be as low as ₱1 , 000 but some times as high as 3000 . from manila to iloilo , bacolod , cebu , butuan , cagayan de oro , iligan , ozamiz or dipolog a trip can last a day or two 2go operate interisland ferries out of manila . there is 2 go ferry which has convenient overnight ferry trips to coron , palawan . 2 go ferry operates between manila and coron , puerto princesa several days of the week . you can also stay on a cruise ship that ' s exploring around the coron area . the 7 , 107 island cruise ship takes passengers around coron and some of its private islands .

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this web site has been setup to help you cut through the jungle of all those codes and abbreviations used in and around the airline industry . whether it be an aircraft type code in a printed timetable or an airline code in online booking system or on your ticket this site has been designed to help you find out what that code stands for . so if you want to know what type of aircraft an ab6 is that your bookings says you will be flying on or what airport yyz is that you are flying from or to , this is the place to look .

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urltoken ' s popular app lets you find and book airline tickets and hotels at the best prices , directly on your mobile . search on the go or at home on the couch , and save time and money . download the app now and compare millions of travels and hotel rooms quickly and easily !

book and compare cheapest flights and hotels in middle east . copyright ©2016 urltoken - all rights reserved .

our airline and safety ratings are designed to be transparent , to encourage and promote safety throughout the airline industry for all passengers .

etihad airways today reached a major milestone with the deployment of mobile and internet connectivity across its entire fleet of 24 boeing 777 passenger . . .

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situated in metropolitan taipei , the taipei international airport is the hub of domestic air transportation . it is easily accessible from the town centers .

taiwan conducts onboard quarantine inspections after h1n1 novel influenza . all passengers will be walking through a fever screening station in order to measure passengers ' body temperature for quarantine inspections by remote sensing .

disembarkation cards are required for non - citizens entering taiwan . the cards will be either given by flight attendants or acquired at the counters close to passport checking booths of immigration entrance .

after getting your luggage at baggage claim area , please proceed to pass through the " nothing to declare " counter if you have no restricted items with you .

taxis queue outside the arrival halls of both terminals . airport taxis charge according to the meter plus a 50 % surcharge ( highway tolls not included ) . typical fare to taipei is around nt $ 1 , 100

four bus companies now provide frequent service between tty international airport and important destinations around taipei everyday in every 30 to 40 minutes . costs are approximately nt $ 110 ~ 140 ( us $ 4 ~ 5 ) , takes about 60 to 90 minutes . the bus station is on the southwest side of the arrival passenger reception area in terminal i , and on the northeast side of the arrival passenger reception area on the first floor in terminal ii . for more information , please check the website :

the system operates according to a spoke - hub distribution paradigm , with six lines running radically outward from central taipei . the metro system operates from 6 am to midnight daily with extended services during special events . trains operate at intervals of 1 . 5 to 15 minutes depending on the line and time of day . a “single - journey ticket” costs between nt $ 20 to nt $ 65 depends on distance . a nt $ 200 one - day pass purchased from a service booth will allow unlimited travel among all mrt lines within one day . smoking , eating , drinking or gum chewing are strictly prohibited on all mrt trains .

bus taipei bus station officially opened at 12 : 00 a . m . on august 19 . the taipei city public transportation office reported that as of 10 : 30 on the opening day , the station had sold a total of 3 , 502 tickets and smoothly served 560 intercity buses , including 126 arrivals and 440 departures . for more information please visit : taipei bus information ( urltoken )

taxi taipei has a huge fleet of taxis . charges are nt $ 70 for the first 1 . 5km and nt $ 5 for each additional 300 meters . an additional nt $ 5 is charged for every two minutes of waiting , and a nt $ 20 charge is added to fares between 11 p . m . and 6 a . m . tips are not required .

all registrant will receive an easycard , a contactless smartcard system operated by the easycard corporation for payment on the taipei metro , taipei public bus , youbike and designated convenience stores .

to use it for the first time , please ensure to add value at designated location such as the taipei metro station or convenience stores carrying the 「 」or「 」 logo ( 7 - eleven , familymart , hi - life and ok mart ) , and the minimum amount of value adding is ntd100 .

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github is home to over 28 million developers working together to host and review code , manage projects , and build software together .

4c are aires , aerovías de integración regional , s . a . aires colombia renamed to lan colombia

dj plb polynesian blue polyblue new zealand controlled dupe iata , code reserved but not in use , pbn ( bluebird ) used .

dj vbh virgin blue holdings bluey australia code used for virgin australia wet - leased operations .

ki aag air atlantique atlantic united kingdom former name : atlantic air transport ; former iata codes : 7m , dg , transferred to atlantic flight training in 2014 .

y6 btv batavia air batavia indonesia as of june 1 , 2010 , iata code changed to y6 .

washington d . c . ronald reagan washington national washington d . c . dca

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air berlin , inc . t / a air berlin usa - united states of america

air manas d / b / a air manas ltd . air company - kyrgyzstan

avi inc . d / b / a air vegas inc . - united states of america

air venezuela , linea de transporte aereo lta . , c . a . - venezuela

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alm 1997 airline inc . , d / b / a air alm - netherlands antilles

a . s . t . - air service training ltd . - united kingdom

deutsche forschungs - und versuchsanstalt fur luft - und raumfahrit e . v . - germany

compania aerea del sur s . a . ( aerosur s . a . ) - uruguay

societa aero trasporti italiani s . p . a . ( ati ) - italy

cesar augusto de la cruz lepe , c . p . a . - mexico

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sun america , inc . d / b / a jetamerica - united states of america

cherokee leasing , inc . d / b / a cherokee express - united states of america

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ids aircraft ltd . d / b / a i . d . s . heathrow exective jets - united kingdom

field aircraft services ( heathrow ) ltd . d / b / a field survey flight - united kingdom

bombardier aerospace d / b / a bombardier business jet solutions , inc . - united states of america

kelowna flightcraft international air cargo ltd . d / b / a winnport air cargo - canada

servicios aereos y fotograficos , s . a . de c . v . - mexico

gacela air cargo , s . a . de c . v . - mexico

edelweiss holdings , inc . d / b / a rio grande air - united states of america