United Airlines Selects B/E Aerospace for Premium Class Retrofit Program Initially Valued at Over $165 Million; 2007/2008 Outlo
March 14 2006 - 1:00PM
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 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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