Word: airbus
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Dates: during 2000-2009
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...RICHARD BRANSON, chairman of the British airline, on plans to install casinos and double beds in the carrier's fleet of six A380 superjumbos, unveiled by Airbus last week
Boeing CEO Harry Stonecipher spent last Christmas at his St. Petersburg, Florida, home. He wasn't happy about that. Angered because carriers like AirAsia and Air Berlin were buying rival Airbus planes, all too aware that the European manufacturer would soon be rolling out its 555-seat, double-decker A380 jumbo liner - and was also developing a smaller plane, the A350, to compete with his new baby, the Boeing 737 - Stonecipher had told his salespeople he would travel anywhere in the world, even on Christmas Day, if he was needed to close a deal. No one called. "That troubled...
...course, Airbus' majority stakeholders, EADS and BAE Systems, both have significant military businesses, too.) The Europeans thus don't see subsidies going to zero. Says Forgeard: "We want a level playing field with a level of support that is acceptable to both sides." The debate over subsidies is especially heated because the aircraft business is so precarious. Launch costs for a new aircraft can be enormous, with little guarantee that the market will reward innovation. In December 2003, Boeing announced it would build the twin- engine, highly efficient 7E7 - its first new airplane in a decade and its designated aircraft...
RAINER HERTRICH, co-CEO of Airbus parent company EADS, acknowledging the €1.45 billion cost overrun in the development of the Toulouse-based planemaker's A380 superjumbo...
...countered with its own case, accusing Boeing of benefiting from "massive" indirect subsidies: Department of Defense and NASA contracts. A U.S. trade official insisted last week that the Bush Administration is willing to overlook the more than $3 billion in loans European governments have given Airbus in order to get the superjumbo A380, which can carry 550 passengers, off the ground by 2006. But the official wants a commitment from the E.U. to "turn off the tap," adding that Airbus "should be able to compete on its own." Washington wants to head off any Airbus subsidy-supported plan to rival...