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    6752   JP3866800000

PANASONIC CORPORATION

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Panasonic : MEA to trial Panasonic Avionics' In-flight Live Television

10/14/2021 | 09:38am EST

Middle East Airlines-Air Liban (MEA) is to commence a two-month trial of Panasonic' Avionics in-flight Live Television service.

The service was rolled out on MEA's fleet of nine Airbus A321neoLR aircraft on the 1st of October 2021, helping passengers to Never Miss A Moment with a wide range of premium news and live sporting events.

Panasonic Avionics' Live Television service connects passengers to unmissable on-the-ground entertainment from the comfort of their seats. The integrated service enables passengers to watch news channels including BBC World and CNN International, along with live sporting action in partnership with Sport 24.

Sport 24 is provided exclusively by Panasonic Avionics and is the world's first and only live in-flight sports platform. It broadcasts 24-hours a day, 365 days a year, connecting airline passengers to over 16 hours of premium live content from over 30 different global sports leagues each day.

MEA's customers will be able to enjoy all the live action from the world's top sporting events, including the NFL, NBA, NHL, all four Tennis Grand Slams, all four Golf Majors, the NRL, the UEFA Champions League, English Premier League, Bundesliga, and more.

The Live Television service on board MEA's aircraft will be powered by Panasonic Avionics' in-flight connectivity services, and broadcast through its eX1 in-flight entertainment platform, both of which were launched on the airline's A321neoLR fleet in 2020.

eX1 is designed specifically for narrowbody aircraft and offers elegant full HD seatback monitors, complete with touch displays and handsets, and an intuitive, personalized interface.

Andew Mohr, Vice President of Digital Solutions for Panasonic Avionics Corporation, said, 'We are delighted to extend our partnership with Middle East Airlines, and to enhance the in-flight experience they provide by bringing live news and the world's best sporting action to their passengers.'

Houssam Moghrabi, Head of In-flight Services at MEA, said, 'Panasonic Avionics is a proven partner for MEA. The trial of their live television service is a natural next step following the installation of their state-of-the-art in-flight entertainment and connectivity systems last year which have been well received by our passengers.'

ENDS -

About Middle East Airlines - Air Liban

Middle East Airlines - Air Liban (MEA) was established in 1945. It is a private commercial company governed by the Commercial Law in managing its operations. MEA is one of the major air carriers in the Middle East region. From its home base in Rafik Hariri International Airport in Beirut, MEA operates flights to 32 international destinations in Europe, Middle East and West Africa. MEA is a member of SkyTeam world alliance which includes a network of airlines that cover 1150 destinations in 177 countries. MEA fleet is composed of 20 Airbus aircrafts equipped with the latest technologies and inflight entertainment systems. For more information, please visit MEA website on: www.mea.com.lb

About Panasonic Avionics Corporation

Panasonic Avionics Corporation is the world's leading supplier of in-flight entertainment and communication systems. The company pioneered the industry beginning in 1979 and has consistently introduced innovations that enable unique customer experiences and enhance airline loyalty (NPS), ancillary revenue and operational efficiency.

Leading airlines across the world have chosen to install Panasonic IFE systems on more than 15,000 commercial aircraft and satellite Wi-Fi connectivity on over 2,300 aircraft. Panasonic's proven systems power ~70% of the global IFE-equipped fleet and are supported by the largest, global support and services team utilizing OEM insights to ensure peak system performance.

Panasonic Avionics Corporation is headquartered in California with over 3,500 employees and operates in 50 locations around the globe.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 7 212 B 63 375 M 63 375 M
Net income 2022 241 B 2 117 M 2 117 M
Net cash 2022 248 B 2 181 M 2 181 M
P/E ratio 2022 12,3x
Yield 2022 2,37%
Capitalization 2 971 B 26 134 M 26 105 M
EV / Sales 2022 0,38x
EV / Sales 2023 0,32x
Nbr of Employees 244 479
Free-Float 90,9%
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Number of Analysts 17
Last Close Price 1 273,00 JPY
Average target price 1 632,18 JPY
Spread / Average Target 28,2%
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Yuki Kusumi President, CEO & Representative Director
Hirokazu Umeda CFO, Director & Senior Managing Executive Officer
Kazuhiro Tsuga Chairman
Tatsuo Ogawa Chief Technology Officer & Executive Officer
Hajime Tamaoki Chief Information Officer & Executive Officer
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