Boeing To Shut Down Connexion

Boeing today said that it has decided to exit the high-speed broadband communications market, and will shut down its Connexion by Boeing service. The firm said that the market for the service has not materialized as has been expected. Boeing said that it expects that the majority of Connexion employees will find other jobs within the company, and that it willtake a pre-tax charge of up to $320M. Boeing's Connexion by Boeing service has been under scrutiny since June, when Boeing started looking for buyers for the service. The service provides broadband access on aircraft. Boeing has had wins on Singapore Airlines, China Airlines, and other international carriers, but not domestic carriers for the service. Connexion by Boeing includes operations in Irvine.