Korean Air Selects B/E Aerospace for Follow-on Programs(WELLINGTON, Fla., Feb. 28, 2006) -- 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 Korean Air has selected B/E's MiniPod(TM) lie-flat business class seats and a broad range of food and beverage preparation and storage equipment for its new Airbus A380 aircraft and both its retrofit and new buy Boeing 777 aircraft. In addition, the airline has also selected B/E food and beverage equipment for its A330 aircraft. These new awards for the airline's A330, A380 and B777 fleets are follow-on programs to the B747 retrofit program delivered in 2005, and bring the total Korean Air award value to approximately $55 million currently. Deliveries for today's award are scheduled to begin in late 2006.
"B/E's business class seats and food and beverage preparation and storage equipment are integral to creating our new cabin environment and support our commitment to provide our passengers with world-class in-flight services," stated Mr. S. K. Lee, Managing Vice President of Korean Air Purchasing Department.
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"Korean Air successfully introduced B/E's MiniPod business class seat on its Boeing 747 fleet. We are excited Korean Air chose to extend that seat platform, along with our food and beverage preparation and storage equipment, to its flagship Airbus A380 and Boeing 777 aircraft," stated Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace, Inc. "Recent program awards are reflective of the current robust industry conditions which are creating a very strong RFQ and bookings environment. Our investments in new product development together with the current strong industry conditions provide the basis for our continued expectation for strong bookings and backlog growth throughout 2006," concluded Mr. Khoury.
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.
Source : B/E Aerospace