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Transportation

Airbus Picks Boeing’s (BA) Pocket

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
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Just when Boeing (BA) was beginning to think it had a leg up on Airbus and its troubled A350 and A380 programs, Emirates, the biggest Arab airline, gave the European company a $31 billion order.

So much for the Boeing 787 and stretch 747-8 ruling the skies.

Bloomberg quotes one expert as saying “It’s a tremendous win for the A350,” said Nick Cunningham, an analyst with Evolution Securities in London. “It validates the program and is exactly what it needs to get it off the ground.”

Boeing has seemed invincible for the last year or so, while Airbus bumbled through delays of the launches of its critical new planes. But the tables have been turned as of late. Boeing is now having trouble getting its 787 out the door.

Boeing’s shares, which were at $107 in early October now trade for $94, and the Emirates news is not likely to do them any good.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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