Business24: Boeing failed to learn from Airbus - by David Robertson

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Boeing failed to learn from Airbus - by David Robertson

A couple of years ago Jim McNerney, the chief executive of Boeing, was in London to persuade the world’s airlines that they should purchase the 787 Dreamliner. Over lunch at a Mayfair restaurant I asked McNerney whether he and Boeing had learned anything from the chaos that was unfolding at Airbus. The European aircraft manufacturer was at that time doing a swallow dive from the high board into concrete. It had withheld information on how serious the production delays on its flagship A380 project were and was writing off billions of euros in lost revenue. Chief executives were departing on a monthly basis, there were accusations of insider trading and Airbus’s customers – led by Emirates – were threatening to pull the plug on the whole company.

Without pausing for thought, McNerney said no. He felt there was nothing to learn from Airbus. I thought at the time that such arrogance was hubris and events since have proved the foolishness of McNerney’s words.