May 17, 1999 |
Boeing Co., the world's biggest aircraft maker and the largest industrial employer in Southern California, said it will take a $45-million pretax charge in the second quarter after losing a bid to sell its F-15 jet fighters to the Greek government. Dwindling orders for the F-15 and the F/A-18 fighter have already forced the Seattle-based company to announce the loss of up to 7,000 jobs, or 35% of its work force, at its military-aircraft division in St. Louis.
May 14, 1999 |
Boeing Co.'s recovery from two years of financial troubles suffered a setback Thursday as the aerospace company said a decline in orders for its F-15 fighter plane will force the elimination of 6,500 to 7,000 jobs. The job cuts will all take place at the company's massive St. Louis manufacturing operation and will represent about 35% of the work force there. The cuts will come from the ranks of management and union members and are expected to be completed by mid-2001.
December 21, 1995
Saudis May Scrap F-5 Replacement: Industry experts say the kingdom--the world's biggest aircraft arms importer--wants to phase out the warplanes and seek to replace its F-15s, first delivered in the early 1980s. The alternative program could come early in the next century as the McDonnell Douglas Corp. aircraft reach the end of their service life, analysts said. That contract, potentially worth more than $5 billion, could be finalized in 1996, a well-placed Arab source said.
February 1, 1994 |
Saudis to Restructure Arms Payments: Saudi Arabia has signed an agreement under which the cash-strapped nation will restructure $9.2 billion in payments due over the next two years to five American defense contractors, U.S. defense officials said. The deal could also clear the way for a reported plan by the Saudis to buy $6 billion in commercial airliners.
January 28, 1994 |
Ending months of suspense, Israel announced Thursday that it will buy 20 F-15E fighters from McDonnell Douglas Corp. for $2 billion instead of acquiring Lockheed Corp.'s F-16. "This is a great day for McDonnell Douglas and the F-15 program," said John P. Capellupo, McDonnell's executive vice president. The Israeli order was a major blow to Calabasas-based Lockheed, which had lobbied hard to sell Israel 42 of its F-16 fighters. Lockheed Chairman Daniel M.
September 15, 1992 |
Jet Sale May Save Jobs: Hughes Aircraft Co. said the proposed sale of 72 F-15XP fighter jets to Saudi Arabia could save about 200 jobs at its Fullerton plant. The $5.6-billion deal with Saudi Arabia could preserve a total of 500 jobs for at least three years in the Orange County and El Segundo plants, where Hughes workers make radar systems for the F-15, a company spokesman said Monday. The sale of the jets is not guaranteed.