Boeing may be hurt up to 5 years by Asia; more cutbacks are possible; stock price plunges 17% amid credibility crisis
Article Abstract:
Some analysts say Boeing's announcement to lay off an additional 20,000 workers and cut back production of wide-bodied planes by 25% is not a credibility problem or deception but a lack of accurate information. Now that upper management has been re-aligned, the company seems to have a more accurate picture of reality. The reality is that production of narrow-body planes also needs to be reduced. Airbus Industrie, the company's chief competitor, meanwhile, claims to not be affected by the Asian financial situation and is, in fact, increasing its production schedule. Boeing suppliers are going to feel the trickle-down effect, though.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Boeing gets order of about $320 million for 717 jetliners, validating their niche
Article Abstract:
Boeing sold ten 717 jets to a Dublin leasing firm, Pembroke Capital Ltd., for about $320 million. 717s are the 100-seat aircraft that the company inherited when it bought McDonnell Douglas Corp. in 1997. Boeing's competitor Airbus Industrie recently sold 30 comparable planes to American International Group Inc.'s International Lease Finance Corp. unit. Boeing will start delivering an order of fifty 717s in the summer of 1999 to AirTran Holdings Inc. and Pembroke's in May 2000.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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