Word: airbus
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Dates: during 1990-1999
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...Pacific Rim to cancel or delay billions of dollars' worth of aircraft orders. Boeing, which plans to build 550 jetliners in 1998, says the downturn may cost it some 90 deliveries--which could carry a value of $10 billion--over the next five years. In Europe, Boeing rival Airbus Industrie, pushing for a 50% share of the world's $65 billion-a-year jetliner market, is wooing long-standing Boeing customers and has been bargaining hard for a $3.8 billion order from British Airways. Just last week US Airways, which previously ordered 400 Airbus jets, said it would...
Impressive as all that is, some critics doubt that the transformation alone will have much impact on Boeing's bottom line. Wolfgang Demisch, a managing director of the investment firm BT Alex. Brown, calls Boeing "hugely overstaffed" and ridicules its price war with Airbus. "The commercial-aircraft industry should be enormously profitable because it is a fortress franchise," Demisch says. He argues that with just two manufacturers selling to about 450 airlines, "I see no reason at all why prices [of planes] are as bad as they are. Neither competitor has any real notion of price discipline...
Business travelers may grumble about moving to the back of the Airbus, but in the air and on the ground, special deals abound for those who are willing to lower their sights. Even though the base rate at Singapore's Hotel Phoenix is about $160 a night, marketing director Low admits that she "is happy to let you stay for $87 a night." Many hotels are spicing up the discount deal with a slew of extras, from free clothes pressing to complimentary limousine transport and free breakfast. Hong Kong's Conrad Hotel, for instance, is offering a standard room, with...
...investigation into Korean Air Flight 801's demise is shifting from the control tower to the cockpit. TIME's Elaine Shannon says investigators probing the deadly crash in Guam are looking at whether the crew of the Boeing 747 was unfamiliar with the route normally taken by an Airbus, which could have caused confusion leading to the disaster...
...Boeing-McDonnell arrangement. To secure EU approval, Boeing offered to terminate agreements which made Boeing the sole supplier of jets to several U.S. airline, and promised to grant competitors access to certain aviation technologies. Those concessions should assuage European fears for Boeing's last major competitor, European plane-maker Airbus Industrie, which has been steadily losing market share to the American company. Calling his approval preliminary, EU antitrust chief Karel Van Miert said more time was needed to read the fine print of Boeing's offers before a formal go-ahead is issued. A green light is expected as early...