B/E Aerospace Selected by British Airways for Major Seating Programs Initially Valued at $40 Million.WELLINGTON, Fla.--(BUSINESS WIRE)--Oct. 27, 1997-- Company Confirms Outlook For Continued Strong Performance B/E Aerospace Inc. (Nasdaq-NMS:BEAV BEAV Binary Editor and Viewer ) today announced that the Company has been selected by British Airways British Airways in full British Airways PLC International passenger airline based in London. In 1936 British Airways Ltd. was founded through the merger of three smaller airlines. (BA) to supply main cabin seating for the airline's existing and new widebody fleets. The B/E seating will be installed on 100 percent of BA's fleets of Boeing 777 and 747 aircraft as part of a major program being undertaken by British Airways. The initial order is valued at approximately $40 million. Specifically, B/E will supply approximately $16 million of World Traveller coach seating to BA for installation on all of their B777 and B747 aircraft currently on order. Shipments will commence immediately and continue as BA takes delivery of the aircraft. In addition, B/E will provide its World Traveller coach seat to BA for retrofit installation on their Boeing 747 aircraft. Initial deliveries for the retrofit program, valued at $24 million, are scheduled to begin in mid-1998 and be completed within a 20-month period. The World Traveller main cabin seat has been designed specifically for British Airways based on extensive ergonomic validation data to incorporate the most popular styling and comfort features in the industry. While emphasizing maximum passenger comfort, the World Traveller has also been carefully designed for minimum weight plus low life cycle costs, and to accommodate a variety of possible future options such as personal video, telephone, fax and laptop PC capabilities. B/E already supplies the custom-designed "Club World Cradle" seat to British Airways for the carrier's renowned Business Class service. The Company also recently completed a program for BA which included the installation of approximately 14,000 of B/E's Variable Geometry
VGS Virtual Game Station VGS Voodoo Glow Skulls (Ska band) VGS Video Game System VGS Volunteer Gliding School VGS Voltage Gate to Source VGS Velocity Gate Stealer ) on the carrier's B767 and short-haul narrowbody fleets. B/E Vice Chairman and Chief Executive Officer Robert J. Khoury stated, "We are pleased to have been selected by British Airways as their main cabin seat provider. When our ongoing Club World and recently completed VGS programs are combined with the present World Traveller program, B/E will have an installed base of well over 60,000 passenger seats in the BA fleet. We believe this clearly speaks to BA's confidence in B/E as a prime supplier." Separately, the Company announced that orders and shipments have continued to strengthen during the quarter and that the outlook for the Company remains strong. B/E Aerospace Inc. designs, manufactures, sells and services a broad line of commercial aircraft cabin An aircraft cabin is the section of an aircraft in which passengers travel, often just called the cabin. At cruising altitudes, the surrounding atmosphere is too thin to breathe without an oxygen mask, so cabin pressurization adapts the cabin to atmospheric pressures. interior products, including seating products, passenger entertainment and service systems, and a complete line of food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. preparation and storage equipment. B/E Aerospace is the world's leading supplier of cabin interior products and services, serving virtually all the world's airlines. -0- This press release contains forward-looking statements that involve risks and uncertainties that may cause the Company's actual experience to differ materially from that anticipated. Factors that might cause a difference include, but are not limited to, those discussed in the Company's filings with the Securities and Exchange Commission, including its most recent Form 10-Q Form 10-Q See 10-Q. , proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. and Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , and in "Risk Factors" in the Form S-3 dated December 12, 1996 relating to the Company's recent common stock offering, as well as future events that have the effect of reducing the Company's available cash balances, such as unexpected operating losses or delays in the integration of the Company's seating business or the delivery of the MDDS MdDS Mal de Debarquement Syndrome MDDS Medical Device Data System MDDS Multi-Domain Dissemination System (PACOM) MDDS Mission Data Distribution System MDDS Multimedia Digital Distribution System MDDS Maintenance Data Development System interactive video system or capital expenditures or cash expenditures related to possible future acquisitions. CONTACT: Financial Relations Jay Jacobson, 914/722-2737 |
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