Airframe
Highlights
“A Pontiac has five thousand parts, and you can build one in two shifts. Sixteen hours. That’s nothing. Bu these things”—she gestured to the aircraft looming high above them—“are a completely different animal. The widebody has one million parts and a span time of seventy-five days. No other manufactured product in the world has the complexity of a commercial aircraft. Nothing even comes close. And nothing is built to be as durable. You take a Pontiac and run it all day every day and see what happens. It’ll fall apart in a few months. But we design our jets to fly for twenty years of trouble-free service, and we build them to twice the service life.”
Amazing.
“If your tires blow, do you blame the car maker?” … “We build the plane, and then install the brand of engine the customer selects. Just the way you can put any one of several brands of tires on your car. But if Michelin makes a batch of bad tires, and they blow out, that’s not Ford’s fault. If you let your tires go bald and get in an accident, that’s not Ford’s fault. And it’s exactly the same with us.”
“A stock scam?” “Sure,” Casey said. “You buy some aircraft so old and poorly maintained no reputable carrier will use them for spares. Then you subcontract maintenance to limit your liability. Then you offer cheap fares, and use the cash to buy new routes. It’s a pyramid scheme but on paper it looks great. Volume’s up, revenue’s up, and Wall Street loves you. You’re saving so much on maintenance that your earnings skyrocket. Your stock price doubles and doubles again. By the time the bodies start piling up, as you know they will, you’ve made your fortune off the stock, and can afford the best counsel. That’s the genius of deregulation, Jack. When the bill comes, nobody pays.”
Airplanes were big and powerful. The audience wouldn’t believe that they were made by crummy little people in drab offices.