NEW FLIGHT ROUTES IN MIAMI
American Airlines has debuted the first nonstop flight from Miami to Ian Fleming International Airport in Jamaica’s tourism center Ocho Rios. The flight will begin operating every Wednesday and Saturday. Previously, visitors to Ocho Rios had to land in Montego Bay and drive an hour and a half. Condor Airlines, a German low-cost carrier, launched direct flights between Miami and Frankfurt. Originally planned for May, the airline advanced its launch date to April, betting on a vibrant summer season and a surge in travelers from Miami to Europe. Spanish low-cost airline Level has launched flights to Barcelona from MIA, operating three times a week.
RIAS LAUNCHED (NEW INVESTMENT IN MIAMI)
EQI Investimentos, a Brazilian advisory firm, has announced the launch of an RIA (Registered Investment Advisor) in Miami, marking a strategic move in its global expansion efforts. With over $5.6 billion in assets, the group aims to attract new clients and broaden its product portfolio through the new U.S.-based operation. In related news, Spanish multinational BBVA is awaiting approval from the SEC to begin operating an RIA in Miami to provide wealth management services to ultra-high-net worth clients.
MIAMI SEAQUARIUM EVICTED
Miami-Dade County has ended Miami Seaquarium’s lease due to recurring animal welfare violations found in USDA inspections. The Seaquarium, owned by Mexican-based The Dolphin Company and leased from the county, is required to vacate its waterfront property this month. The Dolphin Company purchased the park in 2022.
CONDO BY CHINESE DEVELOPER
JDL Development obtained a $160 million construction loan for its Caretta condo project after partnering with Chinese developer Wanxiang. Investment in Florida real estate by Chinese companies has seen a decline following Gov. Ron DeSantis’ signing of a law in 2023 that restricts companies with over 5% ownership by the government of China, a Chinese company, or a Chinese national without U.S. citizenship or permanent residency from purchasing real estate in Florida.
BRAZILIAN HOUSING FUND FOR AFFORDABLE HOUSING IN MIAMI
Brazilian digital bank Inter&Co and Miami-based real estate developer Resia have launched a private equity fund aimed at investing in affordable housing projects. The Inter Resia Opportunity Fund I has successfully secured $30 million in capital for the development of Resia Golden Glades, an affordable housing initiative in Northern Miami.
NEW AVIATION FACILITY AT MIAMI INTERNATIONAL AIRPORT
GSO Aviation, a company specializing in aircraft maintenance, repair, and overhaul (MRO), has signed a lease agreement for a 15,090 sq ft. industrial warehouse adjacent to Miami International Airport. The company provides MRO services for commercial aircraft manufactured by France’s Airbus, U.S.’ Boeing, Canada’s Bombardier, and Brazil’s Embraer.
DUBAI FREIGHT EXPANDS TO MIAMI
Dubai’s DP World has inaugurated its Miami freight forwarding office, part of a series of over 100 global expansions aimed at aiding customers in navigating international trade. The newly opened office, now employing 1,000 staff, complements DP World’s existing work-force of 108,000 and is expected to expand further in the next year.
NEW GUYANA MOU WITH WORLD TRADE CENTER MIAMI
Guyana’s World Trade Center has signed a Memorandum of Understanding (MoU) with the World Trade Center Miami. This agreement sets the stage for networking, market access, and support for trade missions between the two regions. The MoU was signed by Executive Director of World Trade Center Guyana, Wesley Kirton (center), and Chief Executive Officer of World Trade Center Miami, Ivan Barrios (right), during a virtual meeting held in Miami.
NEW CONTAINER SHIP TO PORTMIAMI
PortMiami welcomed the CMA CGM Bali, a large container ship boasting a capacity of 15,000 TEUs. Its arrival signifies the enduring strength of maritime trade in the area, operating on the vital Manhattan Bridge route, which serves as a pivotal connection between China and U.S. East Coast ports.
NEW CARGO ROUTE TO MIAMI INTERNATIONAL AIRPORT
IAG Cargo, the cargo division of International Airlines Group (IAG), has announced a new service between Barcelona and Miami. The route is running three times a week to Miami International Airport, increasing to four from June to September.
JAPANESE RENEWABLE ENERGY
Enfinity Global Inc., a Miami-based leader in renewable energy, has confirmed the completion of a minority sale within its 400 MW U.S. portfolio to Kyushu Electric Power Co. Inc., a major Japanese firm. Kyushu now holds a 40% equity stake in the portfolio, while Enfinity Global will maintain 60% ownership and management.
MIAMI LAC GATEWAY
The innovation lab of the Inter-American Development Bank (IDB) Group, IDB Lab, and TechnoArt, a global platform for technology startups, has launched Miami LAC Gateway. The program is designed for Latin American and Caribbean companies that want to venture into the U.S. market.
MINING COMPANY ACQUIRED BY MIAMI’S FLACKS GROUP
Miami’s Flacks Group, led by Michael Flacks, has completed the acquisition of Paris-based Imerys’ Brazilian mining operations, with the transaction amount undisclosed. The mining operations generate about $400 million in revenue and employ over 1,000 people. The Flacks Group assets exceed $4 billion with revenue of $1 billion. Michael Flacks, originally from the UK, has an office in Brickell with 20 employees.
JETBLUE’S DISCONTINUED LATIN ROUTES
JetBlue is discontinuing several routes as part of cost-cutting measures following its blocked $3.8 billion acquisition bid for Spirit Airlines earlier this year. The airline will cease flights between Fort Lauderdale-Hollywood International Airport and Bogotá, Colombia; Quito, Ecuador; and Lima, Peru.
MIAMI DOLPHINS EXPAND GLOBAL REACH
The NFL has announced that the Miami Dolphins have secured marketing rights in three additional countries – Argentina, Colombia, and Mexico – through the Global Markets Program. With this expansion, the Dolphins are one of two teams holding agreements in six global markets, which already included Brazil, Spain, and the United Kingdom. The Dolphins now dominate in Spanish-speaking regions, surpassing any other NFL team.
BRITISH AIRCRAFT SERVICES OPENS NEW FACILITY IN MIAMI
UK-based services specialist AerFin has opened a new facility for airframe and engine parts in Miami. The new facility, located close to Miami International Airport, will house inventory for Boeing, Airbus, and Embraer airframe products.
