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Boeing bears brunt of aviation crisis

2 February 2009 Press Release Airline News

Boeing has reported an unexpected fourth-quarter loss and forecast 2009 earnings well below estimates as it struggles with a dip in demand for its planes amid the downturn. The manufacturer is also still reeling from a two-month strike by its assembly workers.Boeing, which fell behind arch rival Airbus in the race for plane orders last year, reported a quarterly loss of US$56 million, compared with a profit of US$1.03 billion for the same period a year earlier.

S7 pulls US$2.4bn Boeing order

29 January 2009 Press Release Airline News

Boeing has been dealt yet another blow after Russian airline S7 cancelled an order worth $2.4bn for 15 Boeing-787 Dreamliner aircraft. It is the first airline to cancel a major contract for the 787.The news will come as a blow to Boeing after it yesterday revealed plummeting profits and announced it was cutting 10,000 jobs, equivalent to 6 percent of its 162,200-strong workforce, as the demand for new planes continues to weaken.