No one can argue that the airline industry isn't ferociously competitive and relies heavily on innovation-particularly with aircraft-to gain market advantage. But in recent times, short-term thinking seems to have become the strategy of choice for many publicly traded companies, including most of the larger airline suppliers. While the aerospace industry has been one of the best performing investments for shareholders in each of the last six years, the gains may be coming at the expense of the rate of new-product innovation.
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