Boeing Facing Bad Times?

This will hurt parts suppliers in the South Bay.

Boeing's top customer predicts big production cuts

(Seattle Times) Two aviation-industry billionaires had tough messages for Boeing workers at a reception before an airplane delivery at Boeing Field in Seattle Friday morning.

Steve Udvar-Hazy, chief executive of Boeing's largest customer, predicted that both Boeing and Airbus will sharply reduce their output in the coming months.

Hazy said jet production could drop by a third in the next 18 months. That would inevitably mean layoffs of blue-collar workers locally.

Hazy, chairman and CEO of International Lease Finance Corp. (ILFC), makes huge deals with both the big jet manufacturers and the airlines. ILFC owns the world's largest wide-body fleet and has 74 Boeing 787 Dreamliners on order. He's in a unique position to assess the true state of the aviation business.

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