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Paradoxically, a European start-up consortium named Airbus Industrie competed for market share with Boeing. After 20 years, using state-of-the-art technology, Airbus had garnered a market share of nearly 50 percent.
Although Fortune magazine once printed that Boeing had a license "to print money," their position was weakening, particularly with Airbus' challenge to Boeing's sole ownership of the jumbo-jet market. The Boeing 747-700 had been the world's standard for intercontinental transport and with no competitive equal, Boeing's profits were buoyed by this design. Following extensive market research, Airbus Industrie decided to create a super jumbo-jet, which it labeled the A-380...
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