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Aviation Industry Leaders Deliver "Tough" Messages To Boeing

The Seattle Times (2/7, Gates) reported, "Two aviation-industry billionaires had tough messages for Boeing workers at a reception before an airplane delivery at Boeing Field in Seattle Friday morning." Steven Udvar-Hazy, CEO of International Lease Finance Corp. (ILFC), "predicted that both Boeing and Airbus will sharply reduce their output in the coming months" and Richard Branson, chairman of Virgin Blue, "said that if there's a risk of further strikes in the future, he may not buy Boeing again." Udvar-Hazy called production cuts of 30 to 35% in the next 18 months "not...surprising." Branson "said Udvar-Hazy had been making the same point at dinner last night" about potentially not dealing with Boeing in the future and "Branson said he would have to examine whether Boeing has 'an unreliable management/work-force situation.'" The Seattle Post-Intelligencer (2/7, Richman) and Bloomberg News (2/7, Ray, Layne) focused on Udvar-Hazy's comments," while another Bloomberg News (2/7, Ray) article focused solely on Branson's comments.