So Boeing is in real trouble. It is no surprise; the company was in desperate straits going into this period. Will the commercial aircraft company be spun-out from the military side and then saved with state aid? The latter is definite as Boeing is too big to fail for the US. The devil will be in the detail (see below). On other matters, some of you may be wondering “where has all the money gone?” The US majors have been raking in good profits over the past five years, but they have spent much of that cash on share buyback

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