Boeing adds to job losses
                8,200 positions eliminated as part of
                  plan to discontinue MD-80, MD-90
     NEW YORK -- March 20, 1998: 11:40 a.m. ET -- Boeing Co., the
 world's largest aircraft maker, will cut an additional 8,200 jobs
 as part of a previously announced plan to streamline operations in
 the wake of its acquisitions of McDonnell Douglas Corp. and Rock-
 well International Corp.'s defense operations.
     The cuts, which represent about 3.4 percent of the combined
 company's work force of 238,000, come as part of its November 1997
 announcement to discontinue the MD-80 and MD-90 jetliner programs.
     Boeing noted the latest decisions will not require an addition-
 al one-time charge against earnings. Boeing already has disclosed
 in January that discontinuing the MD-80 and MD-90 programs would
 result in pretax inventory write-offs of $1.4 billion.
     The layoffs come on top of the 12,000 positions to be cut in the
 commercial airplane business starting in the second half of 1998, as
 announced in December.
     In addition, Boeing expects its restructuring to reduce its fa-
 cilities by about 18 million square feet, or more than 15 percent,
 by the end of the year 2000.
    "As a result of the merger with McDonnell Douglas and acquisition
 of Rockwell's aerospace and defense operations, we are strategically
 realigning the use of our facilities to provide better value to our
 customers and shareholders," said Phil Condit, Boeing chairman and
 chief executive.
     "These actions are in addition to ongoing initiatives to improve
 productivity and reduce costs," Condit said in a prepared statement.
     Boeing acquired the aerospace and defense operations of Rockwell
 in December 1996 and merged with McDonnell Douglas on Aug. 1, 1997.
 (Recent report says up to 20,000 may be laid off. Jim)
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           Bankrupt Pan Am may become charter-only carrier
     MIAMI - March 20, 1998 09:01 a.m. EST -- Unable to find a multi-
 millionaire investor to come to the rescue, Pan Am Corp. is ready to
 give up the idea of resuming scheduled service and instead scale
 back and become a charter carrier.
     Pan Am conceded defeat in the cash hunt Thursday and asked a
 bankruptcy judge to pull the plug on a $60,000-a-day life-support
 system at a hearing scheduled for Friday.
     The grounded airline has been paying the money on seven aircraft
 leases with the hope that a bailout would allow it to resume
 scheduled service a day or two after getting fresh money.
     But three potential investors have fallen through since flights
 were canceled Feb. 27, and U.S. Bankruptcy Judge A. Jay Cristol is
 anxious to stop what he repeatedly has called the "bleeding" at Pan
 Am.
     Cristol had suggested shrinking Pan Am to a charter operation,
 and a proposed business plan would allow Pan Am to generate a profit
 from charter flights on the three planes it owns.
     Pan Am may try again to become a full-fledged airline "after the
 company has re-established itself in the marketplace as a healthy,
 soundly managed, charter-only operation," but no time soon, said
 Paul Singerman, attorney for the creditors committee.
     In the three weeks since Pan Am's shutdown, 1980s corporate
 raider Carl Icahn, high-tech millionaire Milan Mandaric and bank-
 ruptcy investor Rothschild Recovery Fund have come and gone from
 investment talks.
     Pan Am began flying in 1928 and went bankrupt in 1991. Investors
 bought the name, and a new low-priced carrier resumed flying with
 the familiar blue-globe logo two years ago.
     Before shutting down last month, Pan Am was carrying 5,000 pas-
 sengers daily to 14 cities in Florida, the Northeast, Midwest and
 Puerto Rico.
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             Boeing to close out Oak Ridge defense work
          By Frank Munger, News-Sentinel Oak Ridge bureau
     OAK RIDGE -- Boeing will phase out defense-related work at its
 Oak Ridge plant over the next couple of years, which could eliminate
 about 100 jobs, the company announced Friday.
     Oak Ridge officials, however, said they hope to avoid any lay-
 offs by building the plant's production of commercial airplane parts.
     The Oak Ridge plant currently employs 966 workers.
     "Boeing in Oak Ridge is looking at this change as an opportunity
 to gain additional commercial work which supports our strategic
 plan," Fred Eckler, general manager of the Oak Ridge facility, said
 in a prepared statement.
     The changes are part of a national "organization realignment" an-
 nounced this week by Boeing, which is based in Seattle. The corpora-
 tion announced it would eliminate 8,200 jobs over the next two years,
 mostly in California, and is planning to shut down some facilities,
 continuing the fallout from the merger with McDonnell Douglas and
 acquisition of aerospace operations from Rockwell International.
     Under the new structure, Boeing's Oak Ridge plant will report to
 the Boeing Commercial Airplane Group instead of the Boeing Informa-
 tion, Space and Defense Systems.
     The plant's workload has grown in recent years, with 90 percent
 now involving parts for commercial airplane parts. The Oak Ridge
 facility manufactures instrument panels and pilot consoles for Boe-
 ing's entire family of airplanes.
     Amy Jones, a Boeing spokeswoman, said the Oak Ridge plant has
 hired about 250 workers in the past couple of years.
     Jones said eliminating 100 jobs would be a "worst-case scenario."
     Defense projects, which are being phased out, varied over the
 years and currently constitute about 10 percent of the workload.
     Jones said the plant recently completed a contract that involved
 modifications to 100 Cruise missiles. Other defense-related projects
 include work on the Airborne Warning and Control System and the
 Avenger air-defense system.
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