Will Boeing And Airbus Suffer As European Airlines Cut Capital Spending?

Last week, two of the largest European airline companies -- British Airways parent International Airlines Group (IAG) and Deutsche Lufthansa (NASDAQOTH: DLAKY) -- announced plans to reduce their aircraft spending. Under pressure due to high labor costs, the strong dollar, and vicious competition from budget carriers, both companies want to save money by keeping older planes in service while bringing in some used aircraft.Obviously, this isn't good news for Boeing (NYSE: BA) and Airbus (NASDAQOTH: EADSY).