By Jennifer Yousfi Managing Editor The Boeing Co. (BA) got some hard won good news yesterday (Wednesday) when Secretary of Defense Robert Gates announced the U.S. Air Force would reopen bidding on a disputed $35 billion contract based on findings of the Government Accountability Office. "I’ve concluded the contract cannot be awarded at present" because of flaws found by the Government Accountability Office, Gates said at a press conference at the Pentagon yesterday, Bloomberg News reported. The new bidding process will reexamine eight of Boeing’s complaints that were upheld by the GAO, out of more than 100 concerns it had initially raised, by seeking "revised proposals from the industry," he said. Last month, the Government Accountability Office backed a petition brought by Boeing that the U.S. Air Force altered the auction for a $35 billion ...

By Jennifer Yousfi Managing Editor The Boeing Co. (BA), one of Money Morning’s “Global Titans,” yesterday (Wednesday) released a report that predicted $3.2 trillion in aircraft sales over the next 20 years, as air travel picks up despite current price pressures. “During 40 years of producing the Current Market Outlook, we have learned that the resilience of air transport growth comes from its intrinsic importance to the livelihood of people around the world,” the report from Boeing reads. Boeing’s annual Current Market Outlook estimates that passenger travel will grow at a 5% rate, and cargo will grow at a 5.8% over the next several years. Despite record fuel costs, air travel and shipping has become an integral part of daily life for many consumers and businesses. Boeing says that demand will only grow. A lot of that growth is expected to come from ...