Airlines Select B/E Aerospace Passenger Seats in Programs Valued at Approximately $25 Million
(EMAILWIRE.COM, March 14, 2001 ) Three airlines have selected B/E Aerospace, Inc.'s (Nasdaq: BEAV) passenger seats to equip existing and new aircraft. The seating programs are expected to provide B/E with combined revenues of up to approximately $25 million.
B/E expects to deliver nearly half the dollar value of the programs to customers by the end of this calendar year. The balance will be delivered in future periods.
NEW AWARD FOLLOWS RECENTLY-LAUNCHED PROGRAM
A major international airline has selected B/E seats to replace business class seating on a number of existing narrow-body aircraft. Plans call for B/E product deliveries to begin during the second quarter of B/E's fiscal year 2002.
"This award follows a recently-launched first class seating program with the same airline," said Mr. Robert J. Khoury, Vice Chairman and Chief Executive Officer of B/E. "We are gratified by this expression of customer confidence." For the first class program, the airline recently took delivery of the initial shipment of B/E's lie-flat POD sleeper seats, which will replace existing seating on international wide-body aircraft. The fully-electric lie-flat seat maximizes passenger privacy by incorporating an elegant wrap-around shell. The seat is designed with an extra large work and dining table, and features an electric ottoman that both enhances passenger comfort and serves as a second seat to accommodate visitors.
EQUIPPING NEW AIRCRAFT
A second airline has chosen B/E's coach class seats for a number of new narrow-body aircraft. A third airline, based in Asia, selected B/E's award-winning Innovator 2 coach class seat for new wide-body aircraft. B/E product shipments for the new aircraft are scheduled to begin late this year.
TOP-RANKED FOR COMFORT
Both the Innovator 2 and the lie-flat sleeper seat were ranked first for total seat comfort in a worldwide survey recently conducted by the independent firm Skytrax Research. The lie-flat seat was top-ranked in first class, while the Innovator 2 was number one in the long-haul coach segment.
"These programs highlight several important aspects of our business," said Mr. Khoury. "We are honored by the seat comfort awards, which demonstrate our commitment to excellence in product design.
"Offering the industry's broadest line of cabin interior products, we sell directly to the airlines, who use our products to retrofit existing aircraft and equip new aircraft," Mr. Khoury said. "In fact, aftermarket sources such as the seat retrofit programs we announce today provided over 60 percent of our sales for fiscal year 2000."
This news release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties, and 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.
B/E Aerospace, Inc. is the world's leading manufacturer of aircraft cabin interior products, serving virtually all the world's airlines and aircraft manufacturers. B/E designs, develops, manufactures, sells and services a broad line of passenger cabin interior products for both commercial and business/VIP aircraft and provides interior design, reconfiguration and conversion services to its customers throughout the world. Information on B/E is available on the World Wide Web at www.beaerospace.com.
-------------------
Produced for B/E Aerospace, Inc.
Contact:
Max Kuniansky
Director of Investor Relations
B/E Aerospace, Inc.
1.561.791.5000
-------------------
B/E expects to deliver nearly half the dollar value of the programs to customers by the end of this calendar year. The balance will be delivered in future periods.
NEW AWARD FOLLOWS RECENTLY-LAUNCHED PROGRAM
A major international airline has selected B/E seats to replace business class seating on a number of existing narrow-body aircraft. Plans call for B/E product deliveries to begin during the second quarter of B/E's fiscal year 2002.
"This award follows a recently-launched first class seating program with the same airline," said Mr. Robert J. Khoury, Vice Chairman and Chief Executive Officer of B/E. "We are gratified by this expression of customer confidence." For the first class program, the airline recently took delivery of the initial shipment of B/E's lie-flat POD sleeper seats, which will replace existing seating on international wide-body aircraft. The fully-electric lie-flat seat maximizes passenger privacy by incorporating an elegant wrap-around shell. The seat is designed with an extra large work and dining table, and features an electric ottoman that both enhances passenger comfort and serves as a second seat to accommodate visitors.
EQUIPPING NEW AIRCRAFT
A second airline has chosen B/E's coach class seats for a number of new narrow-body aircraft. A third airline, based in Asia, selected B/E's award-winning Innovator 2 coach class seat for new wide-body aircraft. B/E product shipments for the new aircraft are scheduled to begin late this year.
TOP-RANKED FOR COMFORT
Both the Innovator 2 and the lie-flat sleeper seat were ranked first for total seat comfort in a worldwide survey recently conducted by the independent firm Skytrax Research. The lie-flat seat was top-ranked in first class, while the Innovator 2 was number one in the long-haul coach segment.
"These programs highlight several important aspects of our business," said Mr. Khoury. "We are honored by the seat comfort awards, which demonstrate our commitment to excellence in product design.
"Offering the industry's broadest line of cabin interior products, we sell directly to the airlines, who use our products to retrofit existing aircraft and equip new aircraft," Mr. Khoury said. "In fact, aftermarket sources such as the seat retrofit programs we announce today provided over 60 percent of our sales for fiscal year 2000."
This news release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties, and 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.
B/E Aerospace, Inc. is the world's leading manufacturer of aircraft cabin interior products, serving virtually all the world's airlines and aircraft manufacturers. B/E designs, develops, manufactures, sells and services a broad line of passenger cabin interior products for both commercial and business/VIP aircraft and provides interior design, reconfiguration and conversion services to its customers throughout the world. Information on B/E is available on the World Wide Web at www.beaerospace.com.
-------------------
Produced for B/E Aerospace, Inc.
Contact:
Max Kuniansky
Director of Investor Relations
B/E Aerospace, Inc.
1.561.791.5000
-------------------
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B/E Aerospace, Inc.
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Joseph
Tel:
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This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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