The Wind Blowing Boeing Off Course

ASIAN ECONOMIC WOES ARE TAKING THEIR TOLL on orders for Boeing 747s, the company's most lucrative model. Two Asian carriers have backed out of 1998 deliveries, and more may follow, so Boeing executives warned analysts on May 27 that the company may downshift 747 production in mid-1999. "When you talk about taking out 12 of those a year, it's going to have an impact on earnings," says Merrill Lynch analyst Byron Callan. Asian orders for the 777 are also being deferred, but domestic and European airlines are picking up the slack for that model.

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