A decline of more than 20% in the value of the euro against the U.S. dollar is bolstering the competitiveness of Airbus and other European aerospace manufacturers while eroding a pricing advantage that a weak dollar has provided to Boeing Co. and U.S. suppliers for several years. Concerns about the financial health of Greece and other members of the 16-country euro zone pushed the currency below $1.20 last week—its lowest level in more than four years—down from $1.50 in late 2009. The ...

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