A long, long time ago in a marketplace far away—i.e., this past spring just before the Boeing 737 MAX was grounded and U.S. trade wars with China and Europe were solidified—Teal Group consultant Richard Aboulafia gave a round of presentations to some aerospace manufacturing conferences. One of them was titled “Two Thoroughbreds and a Herd of Donkeys.” Aboulafia’s presentations addressed the whole aviation market. While a few of the important conditions on which ...

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