Yesterday's news of a pending big order for the 787 is highly significant. The fact the world's largest airplane customer - the International Lease Finance Corporation - and bellwether of broader airline market thinking still isn't ready to commit to Airbus's A350 is yet another blow to Boeing's already struggling competitor. So to is major customer Emirates's decision to also hold off on an A350 order as well.

Airbus's struggles with the A380 are challenging enough for that company. If the A350 isn't successful either it lowers Airbus's ability to compete in the expected updated versions of the single aisle plane class of 737's and A319/320's. If that happens, look for China to move even more quickly than it already is to compete in that class of planes and fill a potential market void left by Airbus. That potential shouldn't be underestimated given China's ability to allocate resources quickly, on a large scale, through its hybrid government run-capitalist economy.

UPDATE: last sentence edited for clarity.