Word: airbuses
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...Belgian magistrate raids Airbus HQ in Toulouse, France, looking for evidence of possible wrongdoing...
...strategic blunder after another. Langendries says he doesn't want to pre-empt the commission's official findings, which are due by the end of the year, but one conclusion is indisputable. "There were bizarre goings-on everywhere at Sabena," he says, "and not just with the Airbus." Bizarre may be too mild a term. Parallel to the commission's work, Belgian magistrate Jean-Claude Van Espen is conducting a criminal inquiry into Sabena. His probe is based on three separate suits filed by former workers. Details of his investigation and the suits themselves are confidential, and no charges have...
...buzzword: yet London's market ended the week up 5%, Germany's up 7%, and New York's up 6%. In short, stocks may have found their bottom. The bad news? They may go back for another visit. INDICATORS Boeing Gets Bounced For the first time ever, Airbus is set to deliver more new planes than Boeing next year, as the European company won a massive order for 120 A319 jets from easyJet. Analysts fear that Airbus slashed prices dangerously low to entice easyJet, but the deal should help the company avoid the massive job cuts plaguing Boeing while providing...
...gamble, one of those hugely risky decisions that can make or break a company - and in this case broke it. In late 1997, the Belgian airline Sabena was poised to order 17 new Airbus planes, to renew and expand its fleet of 37. At the last minute, the order mysteriously doubled to 34 aircraft. The price tag would be $1 billion - five times the company's entire capital at the time. Even more surprisingly, Sabena's board of directors had neither a business plan justifying the higher number nor a watertight financing arrangement in place when they approved the deal...
...Sabena board approves order of 34 Airbus planes, later blamed as cause of its financial meltdown 1998 Sabena reports profit for first time after a decade of losses - and for the last time in its 78-year life...