Korean Air's order for 25 Boeing aircraft sets the carrier on a course toward replacing many of its 747-400s with smaller 777-300ERs and introduces the 747-8 into the fleet as a freighter, leaving open the chance of later purchases of the passenger version. The Nov. 20 deal, which the airline valued at $5.5 billion at catalog prices, also boosts Korean's freight fleet, already the world's largest among passenger carriers, with 10 new freighters in addition to 747-400s now being converted for cargo work.

Qantas has become a rare airline target for a leveraged buyout, raising a risk for its rivals that the Australian carrier will emerge in a few years as a stronger and fitter competitor.

Boeing won't have to pay full damages for the lateness of Australia's Wedgetail program if the company delivers the airborne early-warning and control aircraft with the specified performance and more or less meets the revised schedule. For the quarter ended June 30, the company booked a $496-million charge for the delays to Wedgetail, including contractual damages.