B/E Aerospace Selected for Main Cabin Seating Programs Initially Valued at More Than $70 Million
June 04 2007 - 12:28PM
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 it has
been selected to provide main cabin retrofit and new-buy seating
programs for approximately 250 aircraft for US Airways, Frontier
Airlines and Malaysia-based AirAsia initially valued at more than
$70 million. The program awards for US Airways include retrofitting
Airbus A320 aircraft and equipping a number of new-buy single-aisle
aircraft with coach class and first class seating. The Frontier
Airlines programs include retrofitting Airbus A318 and A319
aircraft as well as equipping a number of new-buy Airbus A320
aircraft with coach class seating. The AirAsia program award is a
follow-on order for coach class seating for a number of additional
new-buy Airbus A320 aircraft. All three programs are for seating
products based on B/E Aerospace�s award winning Spectrum� platform
which has become the clear market share leader for both Boeing and
Airbus single-aisle aircraft. "These two U.S. airline awards,
together with previously announced awards with United Airlines,
Southwest Airlines, Alaska Airlines and Continental Airlines,
clearly indicate that the U.S. carriers are beginning to address
the upgrade of their fleets. In addition, AirAsia represents the
largest A320 backlog customer for Airbus. In view of the planned
single-aisle aircraft production rate increases by both Boeing and
Airbus, we are particularly gratified with these awards," said Amin
J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace,
Inc. �As evidenced by these awards, the market remains robust for
our cabin interior products for both retrofit and new-buy aircraft
and even though the company�s revenue generation is tracking at a
record quarterly rate we are nevertheless on track to report
another record backlog in July when we report 2007 second quarter
results.� 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 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 www.beaerospace.com.
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