British Airways Selects B/E Aerospace for Next Generation Business Class Seating Program Initially Valued at over $150 Million(WELLINGTON, Fla., Nov. 15, 2005) -- 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 British Airways has selected B/E to perform a fleet-wide retrofit of business class seating on all of its long-haul aircraft. B/E will design and manufacture next generation horizontal lie-flat bed seats in a program initially valued at over $150 million. This program award was included in the company's third quarter backlog and deliveries will begin in mid-2006.
The next generation seat bed platform matches British Airways' highly successful forward and aft facing seating configuration with B/E's award-winning innovation and comfort technologies, setting new standards for passenger comfort. A strong emphasis on material aesthetics, quality and finish completes the passenger experience.
The Global Soldier Modernization Market 2015-2025
"In 2000, British Airways revolutionized the industry with its introduction of the first horizontal lie-flat business class seat. Now, British Airways is again raising the competitive bar, and we are pleased to collaborate with them to introduce an entirely new level of comfort and living space for their business class passengers," said Michael B. Baughan, Senior Vice President, B/E Aerospace, Inc.
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.
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 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 its products through its own global direct sales organization. For more information, visit B/E's website at http://www.beaerospace.com.
B/E Aerospace, Inc.
Director, Investor Relations
Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.
Source : B/E Aerospace, Inc.