Boeing Weighs Future of In-flight Web Service
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Boeing Co. is assessing the future of its Connexion in-flight Internet business after failing to find enough airline customers for the service.
“No decision has been made,” Boeing spokesman John Dern said. “We know we have a good product. We’re trying to determine if we have a good business.”
Boeing announced Connexion in April 2000 with partners including Loral Space & Communications Ltd. At the time, the Chicago-based plane maker forecast revenue of $3.5 billion from equipping 5,000 jetliners with the Internet service. Boeing has lost about $1 billion in a venture that may be worth no more than $150 million today, said Paul Nisbet of JSA Research.
Shares of Boeing fell $1.76 to $84.09.
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