Dear,
Working together, Boeing and its suppliers have done some amazing things in past couple of years. But the best years, without a doubt, are still before us.
Imagine a car company or any other major industrial concern that was forced to cut production by more than 50% in a three-year period. Yet that happened to our commercial airplane business, and we have managed the remarkable feat of staying profitable and continuing to invest in the future. Now air traffic has returned to pre 9/11 levels, and we are looking forward to what we hope and expect to be a period of sustained and gradual growth. Long term, this is a great growth market. Over seven decades, the growth in air traffic has outpaced the world's economic growth by a factor of about 1.5-to-1. The line of demarcation between Boeing and Airbus is clearly drawn, both strategically and culturally, and we like our prospects. We think the Boeing 7E7 is right product at the right time - and the biggest the game-changer in civil aviation since the 707 at the dawn of the jet age. More than that, we think that our approach - with its emphasis on lean global enterprise - gives us a flexibility that Airbus lacks.
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