Astronics Awarded Contract by Southwest Airlines to Provide Latest Generation of In-Seat Power

Rhea-AI Summary

Astronics Corporation (NASDAQ: ATRO) announced a partnership with Southwest Airlines (NYSE: LUV) to install its EMPOWER® Passenger In-Seat Power System on 475 Boeing 737 MAX-7 and MAX-8 aircraft. This initiative is part of Southwest's cabin upgrade effort aimed at enhancing customer experience. The system will feature USB charging ports at each seat, allowing passengers to charge multiple devices. Deliveries start in Q4 2022 for retrofit installations, with further production line installations in 2023.

Positive

• Partnership with Southwest Airlines to enhance passenger experience.
• Installation of EMPOWER® system on 475 Boeing 737 MAX aircraft.
• Inclusion of USB Type-A and Type-C charging ports for passenger convenience.

Negative

• None.

Global leader in passenger power for commercial airlines selected to provide leading edge power technology

EAST AURORA, N.Y.--(BUSINESS WIRE)-- Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, announced today that it has signed an agreement with Southwest Airlines to provide its EMPOWER® Passenger In-Seat Power System for installation on 475 Boeing 737 MAX-7 and MAX-8 aircraft. This award is part of Southwest’s recently announced significant cabin upgrade initiative to enhance the Customer experience.

The system configuration selected by Southwest Airlines will provide 60W Type-C and 10.5W Type-A USB charging ports at every passenger seat. This will allow passengers to power and charge two devices simultaneously, including smart phones, tablets, laptops and other Portable Electronic Devices (PED).

“Our goal was to ensure that, when we took the leap into the in-seat power market, we provided our Customers with the latest and greatest cabin power system,” said Tony Roach, Vice President Customer Experience and Customer Relations at Southwest Airlines. “Astronics was the clear choice, with their latest-generation system providing USB A and USB C power ports on every seat in the aircraft, in a space-saving system architecture that does not compromise legroom.”

Astronics will begin delivering in the fourth quarter of 2022 for retrofit installations on Southwest Airlines’ existing MAX-8 fleet which will begin in early 2023. The Astronics Connectivity Systems and Certification group has been selected to provide the installation design, STC certification and installation kits for the retrofit. Deliveries to Boeing for installation on new aircraft on the production line will begin in 2023.

“Southwest Airlines and Astronics both share a Customer-centric strategic vision which includes a desire to collaborate and a willingness to invest in products and services that improve the flying experience,” said Aaron Clarke, Vice President of Cabin Electronics at Astronics Advanced Electronic Systems. “We’re excited our newest system architecture hit the mark with Southwest, and we are excited to be part of the great experience Southwest is bringing to their passengers.”

About Astronics Corporation
Astronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s strategy is to increase its value by developing technologies and capabilities that provide innovative solutions to its targeted markets.

For more information on Astronics and its solutions, visit Astronics.com.

About Southwest Airlines Co.
Southwest Airlines Co. operates one of the world's most admired and awarded airlines, offering its one-of-a-kind value and Hospitality at 121 airports across 11 countries. More than 50 years after its first flight in 1971, Southwest continues to democratize the sky through friendly, reliable, and low-cost air travel and now carries more air travelers flying nonstop within the United States than any other airline¹. Based in Dallas and famous for an Employee-first corporate Culture, Southwest maintains an unprecedented record of no involuntary furloughs or layoffs in its history. By empowering its nearly 59,000² People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among as many as 130 million Customers carried a year. That formula for success brought industry-leading prosperity and 47 consecutive years³ of profitability for Southwest Shareholders (NYSE: LUV). Southwest continues to develop tangible steps toward an environmental sustainability goal of achieving carbon neutrality by 2050, including offering an opportunity for Customers to contribute toward helping Southwest offset its carbon emissions. For more information, please visit Southwest.com/wannaoffsetcarbon. Learn more at Southwest.com/citizenship about how Southwest Airlines leverages a unique legacy and mission to serve communities around the world.

¹U.S. Dept. of Transportation most recent reporting of domestic originating passengers boarded
² fulltime-equivalent active Employees
³ 1973-2019 annual profitability

Media Contacts:
Visit the Southwest Newsroom at swamedia.com for multimedia assets and other Company news.
Media Relations Team: 214-792-4847, option 1

Safe Harbor Statement
This news release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words “expect,” “anticipate,” “plan,” “may,” “will,” “estimate” or other similar expressions and include all statements with the demand in business jet connectivity services, customer response to the connectivity service, and the performance of the Company’s connectivity hardware. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially from what may be stated here include the impact of a global pandemic and governmental and other actions taken in response, trend in growth with passenger power and connectivity on airplanes, the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes and delivery schedules, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, the need for new and advanced test and simulation equipment, customer preferences and relationships, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220608005097/en/

Company Contact:

Astronics Corporation

David C. Burney, Chief Financial Officer

+1.716.805.1599



Investor Contact:

Kei Advisors LLC

Deborah K. Pawlowski

Investor Relations

dpawlowski@keiadvisors.com

+1.716.843.3908

Source: Astronics Corporation

FAQ

What is the Astronics Corporation news about?

Astronics Corporation announced a partnership with Southwest Airlines to provide its EMPOWER® Passenger In-Seat Power System for 475 Boeing 737 MAX aircraft.

When will Astronics start delivering the power systems to Southwest Airlines?

Astronics will begin deliveries in the fourth quarter of 2022 for retrofitting Southwest Airlines' existing MAX-8 fleet.

What features does the EMPOWER® Passenger In-Seat Power System offer?

The system will provide 60W Type-C and 10.5W Type-A USB charging ports at every passenger seat.

How does the partnership benefit Southwest Airlines customers?

The partnership aims to enhance the customer experience by providing convenient charging options for multiple devices during flights.

Is there any financial impact expected from the Astronics and Southwest Airlines partnership?

The partnership is expected to positively impact Astronics by enhancing its product visibility and sales in the aerospace market.