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 United Airlines has selected B/E to retrofit the premium class sections of its entire international wide-body fleet. B/E will design and manufacture seating and a variety of related cabin furniture for the airline industry's largest retrofit program ever awarded, initially valued at over $165 million. Deliveries are expected to begin in 2007. Based on advanced concepts developed by B/E's award winning Industrial Design Studio, the seat platform promises a new and unequaled level of comfort and functionality for United's premium class customers. "Until now, the market for premium class retrofit activity has been driven by airlines in the Pacific Rim, Middle East and Europe," said Amin Khoury, Chairman and CEO, B/E Aerospace, Inc. "The program announced today is particularly gratifying, as it demonstrates a competitive response from a large North American carrier to invest significant resources to begin to upgrade its fleets." "The Company's backlog at December 31, 2005, was in excess of $1.1 billion, and provides a very strong foundation for revenue growth of about 20 percent in 2006 and strong double digit revenue growth in 2007. The award we announced today, together with follow-on programs which we are now receiving from major customers who were part of our 2005 year end backlog, have substantially improved the company's outlook for 2007 and 2008," concluded Mr. Khoury. 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. About United Airlines United Airlines (NASDAQ:UAUA) operates more than 3,400 flights a day on United, United Express and Ted to more than 200 U.S. domestic and international destinations from its hubs in Los Angeles, San Francisco, Denver, Chicago and Washington, D.C. With key global air rights in the Asia-Pacific region, Europe and Latin America, United is one of the largest international carriers based in the United States. United is also a founding member of Star Alliance, which provides connections for its customers to 790 destinations in 138 countries worldwide. United's 57,000 employees reside in every U.S. state and in many countries around the world. News releases and other information about United can be found at the company's Web site at united.com. About B/E Aerospace, Inc. 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 aircraft cabin 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 and supports its products through its own global direct sales and product support organization. For more information, visit B/E's website at http://www.beaerospace.com.
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