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Boeing to meet Air Force Friday

NEW YORK
Wed Mar 5, 2008 11:27am EST

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Undated artist rendition provided by Northrop Grumman shows an aerial tanker refuelling an F-18 fighter. Shares in EADS soared on March 3, 2008 after the European aerospace group won part of a $35 billion deal to supply 179 aerial tankers to the Pentagon in a shock defeat for U.S. rival Boeing. REUTERS/Northrop Grumman Corp/Handout

NEW YORK (Reuters) - Boeing Co (BA.N) expects to have a meeting with the U.S. Air Force on Friday to discuss the defense company's loss of a $35 billion refueling tanker contract, the chief of its defense unit said on Wednesday.

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The company has not yet decided whether to protest the award to rival Northrop Grumman Corp (NOC.N) and its European partner EADS (EAD.PA), he said.

"We offered an airplane more cost-effective and lower risk," said Jim Albaugh, the chief executive of Boeing's integrated defense systems unit, speaking at a webcast Citigroup investor conference.

He said he would be able to make more comments on the matter next week, after the meeting with the Air Force, but said Boeing would only protest the award if it found an irregularity in the way the competing proposals were handled.

(Reporting by Bill Rigby; editing by John Wallace)
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