BOEING LOSES TOP SPOT TO EADS

In 2008 EADS edged out Boeing as the largest aerospace and defence company by revenue, with 10.6% growth to $62.3 billion compared with the 8.3% decline to $60.9 billion at its strike-hit US rival.

According to Deloitte research, European companies achieved higher sales growth than their US counterparts, but lower margins owing to labour market inflexibility.