Word: aircraft
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...expected, but this feud has bigger implications. At its core is a debate about the relationship between the state and private enterprise--specifically, what sort of helping hand can a country legally give its friendly local planemaker? Because of the big money involved and the critical role that aircraft play in national security, the spat threatens already tense U.S.-E.U. relations and could hurt the huge aerospace industry and its thousands of employees on both sides of the Atlantic...
...dispute also illuminates the painful decline of Boeing, the 90-year-old aerospace company created by Bill Boeing from modest beginnings in a Seattle barn. Although its 156,000 workers produce thousands of products, from Internet equipment to satellites, the Boeing name has always meant aircraft. Yet for the second straight year, the $50 billion firm, based in Chicago, has been outsold by Airbus. In 2004 Boeing saw its market share fall to 43%, from 67% just five years...
...month UPS joined FedEx as the second U.S. cargo airline to buy the freighter version. "The A380 is the most significant event in aviation in 40 years--since the introduction of the Boeing 747," says Stephen Forshaw of Singapore Airlines, which will be the first airline to fly the aircraft, in the spring...
...debate over subsidies is especially heated because the aircraft business is so precarious. Launch costs for a new plane are enormous, with little guarantee that the market will reward innovation. In December 2003 Boeing announced plans for the twin- engine, highly efficient 787 (originally called the 7E7), its first new airplane in a decade and its designated aircraft of the future. In contrast to the A380, which is designed to fly lots of people to big hub airports, the smaller (about 220 passengers) 787 aims to fly longer distances to more cities. Scheduled to roll...
...Boeing has its own problems. Although its commercial-aircraft unit (which accounts for 40% of revenues) remains profitable, the company has only two types of aircraft (the 777 and the 737) that are selling well, and last month it said it would stop making its 717. "If Boeing doesn't make the 787 a success, it has no more trumps in its hand," says Ulrich Horstmann, an aerospace analyst with Bayerische Landesbank in Munich. Don't think Stonecipher isn't aware of that. He recently approved the firing of the head of Boeing's sales team. Stonecipher admits that...