Astronics (ATRO) stock price: Why it rose 7.25%

  • The stock price of c Corporation (NASDAQ: ATRO) rose 7.25% in the previous trading session. That is why.

Astronics Corporation (NASDAQ: ATRO) stock price rose 7.25% in the previous trading session. Investors responded positively to Astronics by announcing that it had signed an agreement with Southwest Airlines to supply its EMPOWER® passenger seat power system for installation on 475 Boeing 737 MAX-7 and MAX-8 aircraft. This award is part of Southwest’s recently announced major cabin upgrade initiative to improve the guest experience.

The system configuration selected by Southwest Airlines will provide 60W Type-C and 10.5W Type-A USB charging ports at each passenger seat. And it will allow passengers to power and charge two devices simultaneously, including smartphones, tablets, laptops and other portable electronic devices (PEDs).

Astronics will begin deliveries in Q4 2022 for upgrade installations on Southwest Airlines’ existing MAX-8 fleet beginning in early 2023. And Astronics Connectivity Systems and Certification Group has been selected to provide the design for the installation, STC certification and installation kits for retrofit. Deliveries to Boeing for installation on new aircraft on the production line will begin in 2023.

KEY QUOTES:

“Our goal was to ensure that when we made the leap into the seat power supply market, we provided our customers with the latest and greatest performance cabin power system. Astronics was the choice. evident, with its next-generation system providing USB A and USB C power ports on every aircraft seat, in a space-saving system architecture that doesn’t compromise legroom.

— Tony Roach, Vice President of Customer Experience and Customer Relations at Southwest Airlines

“Southwest Airlines and Astronics share a customer-centric strategic vision that includes a desire to collaborate and a willingness to invest in products and services that enhance the flight experience. We’re thrilled that our new system architecture has hit the mark with Southwest, and we’re excited to be part of the great experience Southwest brings to its passengers.

— Aaron Clarke, Vice President of Cabin Electronics at Astronics Advanced Electronic Systems

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

About Raymond A. Bentley

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