WELLINGTON, Fla.--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.