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Strategies & Market Trends : Asia Forum
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To: MikeM54321 who wrote (4319)6/10/1998 9:21:00 AM
From: MikeM54321  Read Replies (1) of 9980
 
Re: Asia Warnings

Here's another. Speaks for itself.

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Boeing To Cut Production in 1999
SEATTLE (AP) -- The Boeing Commercial Airplane Group plans to cut production on the jumbo 747s by 30 percent in 1999 because of a decline in demand stemming from the economic crisis in Asia, the company said.

''The continued slow traffic growth in Asia has caused some airlines to negotiate slides in deliveries of their 1999 747 orders or to substitute other Boeing airplane models for their existing 747 orders. This means we have to reduce the rate on the 747 program,'' Fred Mitchell, the group's executive vice president of airplane production, said Tuesday.

Boeing also said its production plans would likely result in elimination of some jobs in the Commercial Airplane Group, in addition to the 12,000 already announced. The company plans to begin reducing employment in mid-1998.
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