The company also expects a benefit to earnings of approximately $0.15 per share starting in 2007 without further investment in Connexion. The company will update its financial guidance when it releases third quarter results on October 25. The charge relates to writing down certain assets, payments of early termination fees and other costs related to shutting down the service. Boeing expects the majority of Connexion employees will find other jobs within the company. Boeing acknowledged if was reviewing the Connexion business on June 26. This effort included an assessment of the market and discussions with existing customers and potential new business partners.
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