Tuesday August 22, 2006

Boeing to shut down production of C-17 cargo plane

business-times.asia1.com.sg :

Boeing said it would start shutting down production of its cavernous C-17 military cargo plane, unless US lawmakers authorise new orders. The decision could trigger a ripple of job cuts nationwide, including more than 7,000 Boeing employees and an additional 25,000 workers in 42 states that provide parts for planes still moving everything from tanks to troops around Iraq and Afghanistan.

Lay-offs would not likely be immediate - Boeing has several dozen pending orders, enough to keep production into 2009. But the Chicago-based company said it would no longer spend tens of millions of its own dollars making planes that may never be sold just to keep the supply lines open in hopes of new business. Boeing said it could keep the programme if Congress funds at least 10 more planes, though a delay would increase costs above the current price tag of about US$200 million each.

(2006-08-22 12:49:21 SGT) [Biz] Permalink

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