British Airways Selects B/E Aerospace for Next Generation Business Class Seating Program Initially Valued at over $150 Million
November 15 2005 - 9:15AM
Business Wire
B/E Aerospace, Inc. (Nasdaq:BEAV), the world's leading manufacturer
of aircraft cabin interior products and a leading aftermarket
distributor of aerospace fasteners, today announced that British
Airways has selected B/E to perform a fleet-wide retrofit of
business class seating on all of its long-haul aircraft. B/E will
design and manufacture next generation horizontal lie-flat bed
seats in a program initially valued at over $150 million. This
program award was included in the company's third quarter backlog
and deliveries will begin in mid-2006. The next generation seat bed
platform matches British Airways' highly successful forward and aft
facing seating configuration with B/E's award-winning innovation
and comfort technologies, setting new standards for passenger
comfort. A strong emphasis on material aesthetics, quality and
finish completes the passenger experience. "In 2000, British
Airways revolutionized the industry with its introduction of the
first horizontal lie-flat business class seat. Now, British Airways
is again raising the competitive bar, and we are pleased to
collaborate with them to introduce an entirely new level of comfort
and living space for their business class passengers," said Michael
B. Baughan, Senior Vice President, B/E Aerospace, Inc. This news
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements
involve risks and uncertainties. B/E's actual experience may differ
materially from that anticipated in such statements. Factors that
might cause such a difference include those discussed in B/E's
filings with the Securities and Exchange Commission, including but
not limited to its most recent proxy statement, Form 10-K and Form
10-Q. For more information, see the section entitled
"Forward-Looking Statements" contained in B/E's Form 10-K and in
other filings. The forward-looking statements included in this news
release are made only as of the date of this news release and,
except as required by federal securities laws, we do not have any
obligation to publicly update or revise any forward-looking
statements to reflect subsequent events or circumstances. B/E
Aerospace, Inc. is the world's leading manufacturer of aircraft
cabin interior products, and a leading aftermarket distributor of
aerospace fasteners. B/E designs, develops and manufactures a broad
range of products for both commercial aircraft and business jets.
B/E manufactured products include seating, lighting, oxygen, and
food and beverage preparation and storage equipment. The company
also provides cabin interior design, reconfiguration and
passenger-to-freighter conversion services. Products for the
existing aircraft fleet -- the aftermarket -- generate about 60
percent of sales. B/E sells its products through its own global
direct sales organization. For more information, visit B/E's
website at http://www.beaerospace.com.
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