Hi Wayne,
I included some press releases as I notice that the thread is not getting much attention lately. I feel that BEAV should be recognized for the achivements and hurdles they have overcome.
The outlook for BEAV is very positive.
The worlds airlines are heading towards even more record results going into 98 and beyond. I expect that the new year will bring even more orders for all types of aircraft, Commercial aircraft sales are expected to accelerate as profitability continues within the industry. My company, an aerospace and airline industry investment consulting firm, continues it's strong buy rating, which has been in place since July of 1996.
Best Regards,
Harry Abruzzese
__________________________________________________________________
Wednesday November 5 7:25 PM EST
B/E Aerospace says gets five orders worth $50 mln
WELLINGTON, Fla., Nov 5 (Reuters) - B/E Aerospace Inc(BEAV - news) said on
Wednesday that within the last month it has landed five contracts worth roughly $50
million to supply galley and seating equipment to major and regional airlines.
B/E said it took orders worth $25 million from UAL Corp's (UAL) United Airlines to
supply its new Boeing Co(BA - news) 747-400 aircraft, currently on order, with galley
structures, refrigeration equipment and ovens.
Cathay Pacific Airways Ltd (0293.HK) awarded the company a contract worth $13 million
to retrofit a portion of its Boeing Co(BA - news) 747 fleet with its Reliance XL long-haul
Main Cabin seats, the company said. Both the UAL and Cathay orders are due for delivery
in Calender 1998.
Seperately, America West Airlines Inc (AWA) said it awarded B/E an initial order of $8
million for first class and cabin class seating. If optional aircraft were added to that order,
the total could reach $19 million. B/E said it expects to start making shipments to America
West in June of 1998.
American Eagle, a regional air unit of AMR Corp (AMR), is giving B/E an initial order
worth $3 million, and if additional aircraft were ordered by the airline, the total could
double to $6 million.
KLM Royal Dutch Airlines (KLM.AS) ordered $2 million worth of seating, B/E said.
A company spokesperson said B/E's total sales for its fiscal year ending February 1998 are
approaching $500 million, with an order backlog of $525 million at the end of the August
quarter. Sales in fiscal 1997 were $412 million, the company
Wednesday November 5 7:33 AM EST
Company Press Release
B/E Aerospace Announces New Seating and Galley
Products Orders with Initial Value of Approximately $50
Million from United, Cathay Pacific, America West,
American Eagle and KLM
WELLINGTON, Fla.--(BUSINESS WIRE)--Nov. 5, 1997--B/E Aerospace Inc.
(NASDAQ:BEAV - news) today announced that seating and galley products orders
initially
valued at approximately $50 million in total have been awarded to the company by United
Airlines, Cathay Pacific, America West Airlines, American Eagle and KLM.
As part of United Airlines' fleet expansion, the carrier has awarded B/E's Galley Products
Group (GPG) orders valued at more than $25 million to provide galley structures,
refrigeration
equipment and ovens for United's new B747-400 aircraft on order. B/E has been a long-
term
supplier to UAL of galley structures, and following completion of this program, B/E
structures
will be installed on 50 of UAL's B747 fleet. These programs will begin deliveries in
calendar
1998.
Cathay Pacific has awarded B/E's Seating Products Group a $13 million program to retrofit
a
portion of Cathay's B747 fleet with the company's Reliance XL long-haul Main Cabin
seats. The
highly stylized seats were chosen for their ergonomic design and for the individual
passenger
comfort features pre-engineered for this market. The seats will be provisioned for in-seat
video
systems and will also be equipped with B/E's long-haul passenger comfort package.
Installation
is scheduled to begin in calendar 1998. B/E already supplies Cathay with its Skyluxe
Business
Class seats and upon completion of the program will have an installed base of over 18,000
seats
with the Cathay fleet.
American West Airlines has named B/E to provide both Innovator 2 (Main Cabin) and
Infinity
(First Class) seating for their new Airbus order. The initial program is valued at
approximately
$8 million. The total program potential (including option aircraft) is approximately $19
million.
The first shipset is scheduled for delivery in June 1998.
American Eagle, a subsidiary of American Airlines and the largest regional operator in the
world, has awarded B/E a contract initially valued at $3 million to supply B/E's Model 925
seat
as the carrier's next-generation seat for its new fleet of Embraer EMB Regional Jets. The
airline
noted the superior comfort and durability of the Model 925 seat along with its low cost of
ownership and future commonality within American Eagle's other aircraft types as major
factors
in their decision. The value of the order is expected to expand to over $6 million as
American
Eagle takes delivery of additional new aircraft in the future.
Lastly, in a program win valued at approximately $2 million, KLM Royal Dutch Airlines
has
selected B/E for Main Cabin and Euro-Business Class seating on its new B737-800
aircraft.
Robert J. Khoury, B/E's vice chairman and chief executive officer, stated, ''The program
wins we have announced today as well as others we have recently received indicate the
breadth and strength of B/E's seating and galley business and product offerings. The
seating orders, in
particular, are very gratifying because in several cases B/E was selected in preference to an
entrenched competitor and will now be supplying its seating products for multiple classes
of service for each of those airlines. As a common thread in their decisions, the airlines
cited B/E's product development and certification strengths as well as the emphasis B/E
places on product support, quality and on-time delivery for both seats and spares. In
addition, our win at American Eagle validates our leadership position and bright future in
the Regional aircraft sector of the market.''
B/E Aerospace Inc. designs, manufactures, sells and services a broad line of commercial
aircraft cabin interior products, including seating products, passenger entertainment and
service systems, and a complete line of food and beverage 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.
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 such 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, proxy statement and Form 10-K, and in ''Risk Factors'' in the Form S-
3 dated Dec. 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 theMDDS interactive video system or capital expenditures or
cash expenditures related to possible future acquisitions.
Thursday October 30 7:02 AM EST
Company Press Release
B/E Aerospace Clarifies Certain Matters Regarding B/E's
New British Airways Seating Order Initially Valued At $40
Million
WELLINGTON, Fla.--(BUSINESS WIRE)--Oct. 30, 1997--B/E Aerospace Inc.
(Nasdaq:NMS) announced today a clarification of certain matters regarding its recent
British Airways (BA) seating order.
On Oct. 27, 1997, B/E announced that it had been selected to provide main cabin seating
for 100 percent of BA's fleets of Boeing 777 and 747 aircraft as part of a major program
being undertaken by British Airways.
The company has received numerous inquiries regarding an Oct. 15, 1997, press release by
Simula Inc. in which Simula indicated that it had received an order from British Airways
for three shipsets of main cabin seats for B777 aircraft.
B/E is confirming herein that B/E has indeed been selected to provide 100 percent of both
the BA ''Club World Cradle'' seat and 100 percent of the main cabin World Traveler seats
in 100 percent of BA's fleets of Boeing 777 and 747 aircraft. In addition, B/E is the sole
provider of Variable Geometry Seats for BA's B767 fleet and its short-haul narrowbody
fleet. As previously reported, the program is initially valued at $40 million and is expected
to become substantially larger over time. Upon the completion of the BA seating programs,
B/E will have an installed base of well over 60,000 passenger seats in the BA fleet.
B/E Aerospace Inc. designs, manufacturers, sells and services a broad line of commercial
aircraft cabin interior products, including seating products, passenger entertainment and
service systems, and a complete line of food and beverage 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.
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 such 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 proxy statement and Form 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 interactive video system or capital expenditures or
cash expenditures related to possible future acquisitions.
Tuesday October 28 10:40 AM EST
BE Aerospace Inc. Gets Contract from British Airways
BE AEROSPACE INC. Receives Contract from British Ariways--
Ticker: BEAV (news)
Highlight: CON
Date: 971028
Oct. 27, 1997, BE Aerospace Inc. (BEAV) said it received an initial order valued at about
$40,000,000 from British Airways PLC (BAB) to supply main cabin seating for the
airline's existing and new widebody fleets.
BEAV said the B/E seating will be installed on 100% of BAB's fleets of Boeing 777 and
747 aircraft as part of a major program being undertaken by BAB.
Specifically, BEAV said it will supply about $16,000,000 of World Traveller coach seating
to BAB for installation on all of their B777 and B747 aircraft currently on order.
Shipments will begin immediately and continue as BAB takes delivery of the aircraft.
In addition, BEAV said it will provide its World Traveller coach seat to BAB for retrofit
installation on their Boeing 747 aircraft. Initial deliveries for the retrofit program, valued at
$24,000,000, are scheduled to begin in mid-1998 and be completed within a 20-month
period.
Contact:
Jay Jacobson, Financial Relations
914/722-2737 |
