B/E Aerospace (Nasdaq:BEAV), the world's leading manufacturer of aircraft cabin interior products and the world's leading distributor of aerospace fasteners and consumables, today announced that its main cabin seating platforms have been selected by a number of the world's leading airlines for their narrow-body aircraft. The awards, all of which have been won over the last several months are for seating for both new-buy aircraft and retrofit seating for existing aircraft. The awards are initially valued at approximately $200 million.
These coach class seating awards were driven primarily by the B/E Aerospace new patented Pinnacle(TM) main cabin seating platform, the industry's lightest full-featured seat. Since its launch in late 2009, the Pinnacle(TM) seating platform has captured awards to equip more than 1,000 new or existing aircraft. These awards, initially valued in excess of $400 million, are for both narrow-body and wide-body aircraft. A number of the new-buy awards that were announced today, resulted in the airlines contemporaneously awarding new coach class seating orders for their existing aircraft.
"We are very pleased to have been selected by a number of the world's leading airlines to provide our coach class seating to equip their aircraft. B/E Aerospace main cabin seating platforms offer exceptional living space while providing value with low cost of ownership, weight savings, and exceptional reliability," commented Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace. "Importantly, as evidenced by these awards, airlines' new-buy aircraft decisions are driving contemporaneous decisions to retrofit the coach class cabins of their existing aircraft fleets. We expect this trend to continue as the airframe manufacturers continue to increase their delivery rates for both narrow and wide-body aircraft over the next several years."
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