B/E Aerospace Receives FAA Certification to Convert Airbus A300-600 Passenger Aircraft to Freighters
December 23 2008 - 11:00AM
Business Wire
B/E Aerospace, Inc. (Nasdaq:BEAV), the world's leading manufacturer
of aircraft cabin interior products and the world�s leading
distributor of aerospace fasteners and consumables, announced today
that it has received a supplemental type certificate (STC) from the
FAA which authorizes the company to convert Airbus A300-600
passenger aircraft to freighters. The STC was awarded to B/E
Aerospace�s Flight Structures unit (FSI). The company previously
announced that it had been awarded a contract by China Southern
Airlines to convert six of its A300-600 passenger aircraft to
freighters. B/E Aerospace expects the six aircraft program for
China Southern Airlines to have a value of approximately $45
million. B/E Aerospace has been responsible for the engineering
design and STC certification of the Airbus A300-600
passenger-to-freighter conversion and will be responsible for
manufacturing the required passenger-to-freighter conversion kits.
B/E Aerospace�s MRO partner, Guangzhou Aircraft Maintenance
Engineering Company (GAMECO), a Guangzhou-based joint venture of
China Southern Airlines and Hutchinson Whampoa (China) Ltd., will
provide the touch labor and kit installation. "The A300-600 STC
marks a significant milestone in our passenger-to-freighter
conversion business. We look forward to working with our launch
customer China Southern Airlines," stated Mr. Amin J. Khoury,
Chairman and Chief Executive Officer of B/E Aerospace, Inc. �The
A300-600 aircraft is an excellent candidate for
passenger-to-freighter conversion due to its superior operating
economics. According to Air Cargo Management Group, �the medium
wide-body freighter segment, (the A300 and the B767), has been the
fastest growing segment of the freighter market over the past
decade.� The A300-600 takes standard size containers and can carry
almost double the LD3 containers that the competing B767 can carry.
There are more than 100 A300-600 passenger aircraft in service,
most of which are nearing the end of their useful lives as
passenger aircraft,� concluded Mr. Khoury. Mr. Dong Su Guang, Vice
President of China Southern Airlines Co., Ltd. and Chairman of
GAMECO commented, �China Southern Airlines, GAMECO and B/E
Aerospace working together have demonstrated a world class
capability in achieving this milestone. We look forward to
continuing our partnership as we convert our A300-600 passenger
aircraft to freighters.� B/E Aerospace currently holds over 200
aircraft modification STC�s pertaining to such applications as
interior reconfigurations, crew rest installations and
passenger-to-freighter conversions. B/E Aerospace has extensive
experience in converting passenger aircraft to freighters having
completed 80 passenger-to-freighter conversions on a number of
aircraft types including the A300-B4, B747-200 and B767-200
airframe platforms. 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 Aerospace�s actual experience and results may differ materially
from the experience and results anticipated in such statements.
Factors that might cause such a difference include those related to
the expected benefits from the HCS acquisition, changes in market
and industry conditions and those discussed in B/E Aerospace�s
filings with the Securities and Exchange Commission, which include
its Proxy Statement, Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K. For more information,
see the section entitled �Forward-Looking Statements� contained in
B/E Aerospace�s Annual Report on 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 intend 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 the world�s leading distributor of
aerospace fasteners and consumables. B/E Aerospace designs,
develops and manufactures a broad range of products for both
commercial aircraft and business jets. B/E Aerospace 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 Aerospace sells and supports its products
through its own global direct sales and product support
organization.
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