Word: tristar
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...passenger seat costs. Currently, Boeing engineers are working on the specifications for a new 180-to 200-seat jet, which it hopes United and Delta will buy; the plane would seat seven abreast and, Boeing claims, effectively compete with McDonnell Douglas' DC-10 and Lockheed's TriStar L-1011. Meanwhile, Lockheed is coming up with a sleeker version of the L-1011, to be delivered to British Airways next year. McDonnell Douglas, already flush with orders for its DC-10s and DC-9s, is gearing up to produce a stretched DC-9 "Super 80"; the company claims...
...operating conditions the economies reported by European airlines. Airbus-Industrie claims that the plane's two huge fan jet engines are terrific fuel conservers, burning approximately 25% less fuel per seat-mile than do the three engines of such competing jets as Lockheed's L-1011 TriStar. Eastern also wants to make sure that spare parts will be freely available across the Atlantic-although parts should not be a major problem. About 83% of the plane's consumable spares are produced in the U.S., and one-third of the plane as a whole-including its General Electric...
...TriStar L-1011s have never recouped development costs, and the company is resigned to writing off about $400 million of those costs over the next eight years; since the write-offs reduce profits, they have the effect of a guaranteed annual loss...
...Anderson must try to lessen the TriStar drag that has left Lockheed trailing badly behind its chief competitors in the commercial aircraft market, Boeing and McDonnell Douglas. Last year all three had comparable sales: $3.2 billion for Lockheed, $3.5 billion for McDonnell Douglas and $3.9 billion for Boeing. But while McDonnell Douglas earned a profit of $109 million and Boeing $103 million, Lockheed netted only $39 million. Reason: an operating loss of $125 million on the airbus. The news this year is no better. In the first six months, Lockheed's profits rose to $25.5 million, from $22.2 million...
Nonetheless, Anderson is adamant that Lockheed will continue to manufacture the TriStar. He has high hopes for the long-range version of the plane (British Airways has ordered six) and has set up a new financial affiliate that will arrange favorable terms for prospective buyers. The inability to do that while Lockheed's own finances were in a mess is a major reason why TriStar sales have never matched the company's predictions. Anderson's most immediate problem is to arrange short-term loans to replace an estimated $80 million of the Government-guaranteed loan...