Word: airbuses
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Dates: during 1970-1979
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Lockheed showed off its first giant L-1011 "airbus," which gleamed under the hangar lights like a winged dolphin. While company officials sat proudly by, Governor Ronald Reagan called the new plane "one of the most sophisticated commercial jetliners ever produced." Several days later, in a neat bit of oneupmanship, McDonnell Douglas brought in Vice President Spiro Agnew to speak at the roll-out of its new airbus, the DC-10. Large enough to accommodate 270 passengers, the new planes are intended to displace the 747 on many medium-range hauls...
Both planes have three jet engines, are approximately 175 feet long and 19 feet wide inside the cabin; the 747 is 231 feet long and 20 feet wide. The first airbuses, which fly at up to 600 m.p.h., can operate profitably on routes from 250 to 1,500 miles. The 747 usually hauls up to 392 passengers at 590 m.p.h. and has a range of 6,500 miles. McDonnell Douglas already has orders for a stretched-out airbus that will have a range of 6,100 miles, enough to hop the Atlantic...
...final estimates of the loss to Lockheed have yet to come in. Overall, Lockheed is feeling less pinch than most of its competitors. It expects to increase its total work force this year by 2,000, to 100,000, as production begins on its L-1011 airbus. Similarly, General Dynamics plans no cutbacks in its 70,000-man labor force during 1970 -unless the Air Force cancels plans to buy 40 more of the controversial F-111 swing-wing fighter-bombers...