B/E Aerospace, Inc. (the “Company”) (Nasdaq:BEAV), the world's leading
manufacturer of aircraft cabin interior products, today announced that
the Company has won an award from a major international airline which
will be the launch customer for its new Aspire™ wide-body main cabin
seating platform. The Aspire™ seat will debut on the airline’s new-buy
and retrofit wide-body aircraft.
The Aspire™ seat is a B/E Aerospace proprietary design, incorporates
B/E’s patented technologies and is the next generation seating product
for wide-body main cabin seating. It has been engineered to provide
airline passengers with enhanced living space and increased leg and shin
clearance as well as a high level of integration with advanced in-flight
entertainment systems. The Aspire™ seat will also be the industry’s
lightest full feature wide-body main cabin seat.
The introduction of the Aspire™ seating platform reflects the company’s
product development strategy to focus on innovative, highly engineered
products with features and benefits that allow airlines to differentiate
themselves from their competition, create additional revenue
opportunities, and lower the airlines’ cost of ownership. The Aspire™
launch follows the Company’s successful recent launch of its patented
Meridian™ narrow-body main cabin seating platform. Southwest Airlines,
the world’s largest Boeing 737 operator is the launch customer for the
Meridian™ seat and recently received its first shipset of the seats in
their new Boeing 737-800 aircraft. The Meridian™ full feature seat is
wider and lighter than current seats available in the market and offers
increased leg and shin clearance, more personal stowage and an
adjustable headrest. The Meridian™ seating platform has already been
selected by 6 airlines to outfit more than 700 narrow-body aircraft.
Both the Aspire™ and Meridian™ seats build on the success of the
Company’s patented Pinnacle™ seating platform which, at the time of its
introduction, was the lightest full feature narrow-body and wide-body
aircraft main cabin seat utilizing advanced proprietary technologies
that allow airlines to reduce cost of ownership, simplify maintenance
and increase overall passenger living space. The Pinnacle™ seat has been
selected by 100 airlines for approximately 3,000 aircraft with total
orders approximating $1.8 billion.
“We are pleased that the launch customers for both our Aspire™ and
Meridian™ seating platforms are leading global airlines. These seats
will provide the airlines’ passengers with unprecedented comfort and
functionality within the main cabins of their wide-body and narrow-body
aircraft. All of our main cabin seats (Aspire™, Meridian™ and Pinnacle™)
were on display this week at the Hamburg Aircraft Interior Exposition.
The introduction of the Aspire™ and Meridian™ seating platforms build
upon the tremendous success of Pinnacle™ and highlights the emphasis
that B/E Aerospace places on R&D investments and highly engineered
patented designs. These innovative products are continuing to drive
substantial market share gains in the main cabin seating marketplace,"
commented Amin J. Khoury, Executive Chairman of B/E Aerospace. "The
launch of the Aspire™ and Meridian™ seating platforms further
strengthens our record backlog and underlies our confidence in our
growth outlook. Thus far, seven airlines have placed combined orders of
more than $400 million for these products. Our position as the leading
provider of aircraft cabin interior products is evidenced by our
continued market success having won more than 75% of super first class
seating awards, approximately 50% of business class and main cabin
seating awards, and more than 85% of food and beverage preparation and
storage equipment awards over the last two years."
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements involve risks and uncertainties. The
Company’s actual experience and results may differ materially from the
experience and results anticipated in such statements. Factors that
might cause such a difference include those discussed in the Company’s
filings with the Securities and Exchange Commission (“SEC”), which
include its Proxy Statement, Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. The declaration
and payment of future dividends, the repurchase of shares of the
Company’s stock and repayment of outstanding debt are at the discretion
of the Board of Directors and will depend on the Company’s future
earnings, capital requirements, financial conditions, operating
conditions, contractual restrictions and such other factors as the Board
of Directors may deem relevant. For more information, see the section
entitled “Cautionary Statement Regarding Forward-Looking Statements”
contained in the Company’s Annual Report on 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 and rules and regulations of the
SEC, the Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise.
About B/E Aerospace, Inc.
B/E Aerospace is the world’s leading manufacturer of aircraft cabin
interior products. B/E Aerospace designs, develops and manufactures a
broad range of products for both commercial aircraft and business jets.
B/E Aerospace manufactured products include aircraft cabin seating,
lighting systems, oxygen systems, food and beverage preparation and
storage equipment, galley systems, and modular lavatory systems. The
Company also provides cabin interior reconfiguration, program management
and certification services. B/E Aerospace sells and supports its
products through its own global direct sales and product support
organization. For more information, visit the B/E Aerospace website at www.beaerospace.com.
![](http://cts.businesswire.com/ct/CT?id=bwnews&sty=20160408005334r1&sid=ntxv4&distro=nx&lang=en)
View source version on businesswire.com: http://www.businesswire.com/news/home/20160408005334/en/
Copyright Business Wire 2016