Boeing Expands Customers' Fuel-Efficiency Capabilities by Acquiring ETS Aviation
SEATTLE, WA., USA, May 23, 2014 - Boeing (NYSE: BA) today announced an agreement to acquire ETS Aviation, a provider of fuel-efficiency management and analytics software. ETS Aviation solutions lead the market, providing more than 120 airlines and corporate flight departments the tools necessary to accurately monitor fuel consumption, identify fuel savings opportunities, and track and report carbon emissions.
ETS Aviation's fuel efficiency solutions support more than 600 commercial aircraft across nearly 900,000 flights annually.
"Boeing is focused on creating a competitive advantage for our customers," said Stan Deal, senior vice president of Commercial Aviation Services, Boeing Commercial Airplanes. "With fuel costs accounting for as much as 40 percent of airline operating costs, reducing fuel consumption enables airlines to be more successful while reducing emissions.
"Adding these fuel-efficiency tools enhances the edge we provide customers, helping airlines realize greater operating and environmental efficiencies," Deal added.
"We founded ETS Aviation with a simple goal: to develop affordable software and consultancy solutions that make the day-to-day operations of airlines and aircraft operators more efficient," said David Carlisle, ETS Aviation founder and chief executive officer. "Today we are the market leader, helping customers around the world improve their fuel efficiency and reduce CO2 emissions. As part of Boeing, we look forward to an exciting future, delivering the highest standards of customer service whilst our solutions continue to innovate and grow at an even more rapid pace."
ETS Aviation's fuel efficiency tools will become part of the integrated suite of aviation services marketed as the Boeing Edge. These include digital solutions that increase efficiency and profitability for aircraft operators by optimizing flight operations, maintenance, and crew planning and scheduling.
ETS Aviation employees, who are based in Bristol, UK, will join the Jeppesen UK subsidiary of The Boeing Company upon completion of the transaction, which is expected to occur in the second quarter.
Completion is subject to customary conditions. Terms of the transaction are not being disclosed.
Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected timetable for completing the transaction, future business prospects, and benefits and synergies of the transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and we undertake no obligation to update or revise any forward-looking statement, except as required by law. Specific factors that could cause actual results to differ materially from these forward-looking statements include the effect of global economic conditions, the ability of the parties to consummate the transaction, our ability to successfully integrate ETS Aviation's business and realize anticipated synergies, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission.
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