Boeing yesterday raised its earnings outlook for 2006-07 on the back of strong sales and earnings momentum as it reported that fourth-quarter net income more than doubled to $460 million from $186 million in the year-ago period. The result propelled full-year income up 37% to $2.57 billion from $1.87 billion in 2004. "Boeing made great progress in '05, which has given us a solid foundation for even better performance in 2006 and beyond," said Chairman, President and CEO Jim McNerney during a webcast.

After a year in which Airbus and Boeing booked more than 2,000 new firm orders, is it possible that they will do even better in 2006? The history of recent past cycles suggests the answer may be yes, as hard as that is to believe. The outlook should become clearer when the global aerospace community meets at the Changi Exhibition Center Feb. 21-26 for the biennial Singapore show.

This month, Vueling Airlines and JetBlue Airways are trialing an exchange program whereby cabin staff from the Barcelona-based low-cost carrier are heading to New York to fly with JetBlue and some of the latter's attendants are coming to Spain to fly with Vueling.

With this issue, ATW continues for a 32nd year one of our proudest traditions: The presentation of our Annual Achievement Awards. In an industry that sets its internal bar very high, the seven winners each have accomplished things that the editors of ATW view as extraordinary.

Boeing announced yesterday that it will develop a new derivative of the 737-700 on the strength of an order conversion from ANA for two aircraft.