The Boeing-Airbus duopoly of the $1.6 trillion aircraft manufacturing market is set to face a formidable challenge from the BRIC economies over the next two decades. Young upstarts – including the likes of Brazil’s Embraer and China’s Comac – are launching aircraft that will erode the duopoly’s 90 percent share of the narrow-bodied market.

Virgin Blue, Australia’s second largest airline, is to embark on a massive spending spree with the purchase of 105 Boeing 737 aircraft. The order represents the largest for Boeing in the past 18 months, as well as the Virgin Blue’s most significant fleet upgrade in its 10-year history.

United States plane manufacturer Boeing has criticised a German government decision to offer rival Airbus a £1 billion loan. The American company has also attacked the timing of the decision, with the WTO expected to outlaw any further financial support this week.

Boeing Commercial Airplanes President and Chief Executive Officer Jim Albaugh today announced organizational changes intended to strengthen the company’s focus on both performance and long-term strategy.

Boeing says its customers ordered just 142 commercial aircraft last year as the recession forced airlines to shrink, leaving the aerospace company neck and neck with archrival Airbus.

A war of words has broken out between Ryanair and Boeing after talks broke down over a potential order of up to 200 planes. The budget airline’s chief executive Michael O’ Leary has accused the aircraft manufacturer of “moving the goalposts” during the negotiations.