Program Initially Valued at over $45 Million
(WELLINGTON, Fla., Nov. 22, 2005) -- B/E Aerospace, Inc. (Nasdaq:BEAV) announced today that it was selected by Emirates Airline to design and manufacture international super first class cabins for a number of its fleet of Boeing 777 aircraft. Based in Dubai, in the United Arab Emirates (UAE), Emirates is one of the fastest growing and the second most profitable airline in the world. This program is valued at over $45 million, and represents a follow-on award to the $80 million program to outfit Emirates' new A380 fleet with super first class cabins, previously announced in July 2004. Deliveries for the B777 award are scheduled to begin in late 2006. The B777's referred to herein include a portion of the 42 new buy B777 aircraft referred to in the Boeing Aircraft Company release at the Dubai airshow yesterday.
The Emirates' First Class Suite, similar to the suite on the Airbus A340-500 aircraft, is based on the comfort and conveniences of a premium hotel suite and represents the successful collaboration between Emirates' in-house design team, renowned French designer Jacque Pierrejean, and B/E's Industrial Design Studio. This revolutionary design will allow first class international commercial passengers to discover the luxurious amenities and ambiance normally associated with head of state aircraft.
The First Class Suite is a cabin within an aircraft cabin. Entry into the suite's plush accommodation is gained by accessing electrically-operated doors, which in addition to increasing a passenger's security, also enhance passenger privacy. Once inside, the suite boasts an array of well-defined appointments, including a fully adjustable, electrically-operated first class seat with unique comfort features that easily converts into a bed, a vanity unit complemented with custom finishes, accommodation for luggage, a private closet, and a large personal interactive LCD entertainment system. In addition, a finely crafted dining environment with individual beverage storage provides the finishing touches to Emirates' demonstration of comfort, style, and functionality. The First Class Suites are intended to be installed on the Boeing 777 aircraft configured for three-class international service.
B/E Aerospace Senior Vice President Michael B. Baughan said, "Emirates is one of the premier airlines in the world and we are very pleased to continue our partnership as they set a new standard for luxury long-haul first class service. This award excludes both business and coach class sections of the aircraft referred to herein and, as mentioned earlier, includes only a portion of the 42 new buy B777's announced by Boeing yesterday at the Dubai Air Show."
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 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.
About Emirates Airline
Since its launch in 1985, Emirates Airline has received more than 280 international awards in recognition of its unsurpassed levels of customer service. Emirates is the world's second most profitable airline and among the 20 largest. It is based in Dubai, one of the few cities in the world that pursues an open-skies policy, with more than 110 airlines in free and fair competition.
Emirates' 83 all wide-bodied fleet includes seven freighters and is among the youngest in the skies, with an average age of 55 months - over eight years less than the industry average. The airline plans to more than double its size by 2012, with 132 aircraft orders, worth US$37.4 billion in list prices.
B/E Aerospace, Inc.
Director of Investor Relations