Exhibit 99.1

PRESS RELEASE

FOR IMMEDIATE DISTRIBUTION

BREEZE-EASTERN REPORTS FISCAL 2013 THIRD QUARTER

FINANCIAL RESULTS

Whippany, New Jersey – January 31, 2013 – Breeze-Eastern Corporation (NYSE MKT: BZC) today reported its fiscal 2013 third quarter financial results.

For the fiscal 2013 first nine months, the financial results follow.

35 Melanie Lane — Whippany — New Jersey 07981

Tel: (973) 602-1001 — Fax: (973) 739-9333 — www.breeze-eastern.com

Breeze-Eastern Corporation – January 31, 2013

Brad Pedersen, Chief Executive Officer and President, said, “Third quarter sales were higher than prior year because of strong orders and our improved capability to ship these orders in the same quarter they were received. We have successfully reduced the lead time on key products and increased our production efficiency, resulting in more even sales flow over the second half of our fiscal year.”

Mark Mishler, Chief Financial Officer, said, “We had almost $10 million in cash and no debt at the end of December, as our business continued to generate cash. Our selling, general, and administrative expenses were lower than the prior year first nine months, reflecting our focus on controlling costs. Despite the strong quarter, profitability was again reduced by engineering product development costs, which were high relative to the milestones achieved. With continued high product development costs and sales mix changes reducing margins in our fiscal fourth quarter, we expect fiscal 2013 sales and profitability to be below fiscal 2012 levels.”

Mr. Pedersen added, “Our investment in new products and programs continues, and we are making slow but steady progress toward meeting customer requirements. As I said last quarter, for our major engineering development programs, management is focused on improving fundamentals, including ensuring engineering solutions are technically viable, program risks are fully understood, and business cases are improved. Our current level of spending on engineering development projects is expected to be maintained through the fourth quarter and the next fiscal year.”

“Although the fundamental financial performance of our business was strong, the general business environment remains highly uncertain. Breeze-Eastern is keeping a watchful eye on the US Department of Defense budget, because future defense spending changes could impact our revenues.”

The Company will conduct a conference call at 10:00 AM ET on Thursday, January 31, 2013 with the following numbers: (866) 770-7129 or (617) 213-8067 and passcode 12671401.

We are pleased to introduce a mobile phone and tablet friendly Investor Relations site. Visit http://phx.corporate-ir.net/Mobile.view?c=114678 from your mobile device or tablet for listen-only mode for the conference call.

Breeze-Eastern Corporation (http://www.breeze-eastern.com) is a leading global designer and manufacturer of high performance lifting and pulling devices for military and civilian aircraft, including rescue hoists, winches and cargo hooks, and weapons-lifting systems. The Company employs approximately 180 people at its facilities in Whippany, New Jersey.

Breeze-Eastern Corporation – January 31, 2013

Non–GAAP Financial Measures

In addition to disclosing financial results that are determined in accordance with Generally Accepted Accounting Principles (“GAAP”), the Company also discloses Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, other income/expense, loss on debt extinguishment, and relocation expense). The Company presents Adjusted EBITDA because it considers it an important supplemental measure of performance. Measures similar to Adjusted EBITDA are widely used by the Company and by others in the Company’s industry to evaluate performance and valuation. The Company believes Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structure (affecting relative interest expense), tax positions (such as the impact on periods or companies of changes in effective tax rates or net operating losses) and the age and book depreciation of facilities and equipment (affecting relative depreciation expense). The Company also presents Adjusted EBITDA because it believes it is frequently used by investors and other interested parties as a basis for evaluating performance.

Adjusted EBITDA has limitations as an analytical tool, and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Some of the limitations of Adjusted EBITDA are that (i) it does not reflect the Company’s cash expenditures for capital assets, (ii) it does not reflect the significant interest expense or cash requirements necessary to service interest or principal payments on the Company’s debt, and (iii) it does not reflect changes in, or cash requirements for, the Company’s working capital. Furthermore, other companies in the aerospace and defense industry may calculate these measures differently than the manner presented above. Accordingly, the Company focuses primarily on its GAAP results and uses Adjusted EBITDA only supplementally. A reconciliation of Adjusted EBITDA to net income, the most directly comparable GAAP measure, for the three and nine months ended December 31, 2012 is shown in the tables below.

Breeze-Eastern Corporation – January 31, 2013

BREEZE-EASTERN CORPORATION

STATEMENTS OF CONSOLIDATED OPERATIONS

(In Thousands of Dollars Except Share Data)

BALANCE SHEET INFORMATION

(In Thousands of Dollars)

Breeze-Eastern Corporation – January 31, 2013

Reconciliation of Reported Income to Adjusted EBITDA

(In Thousands of Dollars)

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