Word: airbus
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...which was saved from bankruptcy by a $250 million federal loan guarantee 14 months ago and is counting considerably on the TriStar for its future. The plane nosed out McDonnell Douglas's DC-10 and a short-range version of Boeing's 747 for the All Nippon airbus business. Beyond the prospect of additional sales of the 300-passenger planes to All Nippon, a big domestic carrier, the deal gives Lockheed its first firm commercial foothold in the Asian market. Says Lockheed President Carl Kotchian, who has been camping in Tokyo for four months: "We won this contract...
...Dollar Hoards. The Japanese originally planned to build their own huge jet airbus, but Japan's planemakers could not produce it as quickly as passengers need it. With domestic air runs already booked to overflowing, the government made a command decision to seek a foreign partner. A study mission headed by astute Hidemasa Kimura, an aeronautics professor, visited five manufacturers: The Netherlands' Fokker, British Aircraft Corp., Lockheed, McDonnell-Douglas and Boeing...
...terms have yet to be worked out, but it is likely that Boeing will sell or lease to the Japanese basic design-and-production technology either for a short-range version of its famed jumbo jet, with the working name of 747-SR, or for a completely new superjet airbus that could carry up to 300 passengers but operate out of relatively short runways. Presumably, the Japanese would put up a production line with Boeing's help, and some of the plane parts would be built in the U.S. Kimura said that the Japanese, who have huge dollar hoards...
...business. That is a departure from their traditional posture at the biennial show, which they have regarded in the past as merely a showcase for their new technology. This year could be different. With the U.S. out of the SST race and having trouble with the Lockheed L-1011 airbus, the Russians may finally be in a position to take advantage of their growing potential in commercial aircraft sales...
...Lockheed Aircraft Corp., the biggest defense contractor, is in a deep cash crisis, and it is looking to Uncle Sam for a bailout. The company wants Congress to authorize an unprecedented federal guarantee of a $250 million loan to save its wholly commercial L-1011 plane, a medium-range "airbus" designed to carry 250 passengers. If Congress refuses, the company's management warns that Lockheed will skid into bankruptcy, upsetting a business empire that employs 75,000 people in 26 states. This would add to the unemployment rolls, particularly in California, and dim President Nixon's chances...