Berlin should have opened its new international airport two years ago. But not only has the launch now been delayed a fourth time, the airport operator has conceded for the first time that it has no idea when the facility will be ready.

The gridlock and political temper tantrums of the U.S. Congress as 2012 drew to a close threatened to derail America's fragile economic recovery. Now, the specter of weeks of debate on the government's debt ceiling and deep, automatic spending cuts known as “sequestration” promises more chaos.

June 1, 2012 Tom Enders officially becomes CEO of EADS, succeeding Louis Gallois. Early summer 2012 Initial merger talks begin between EADS and BAE Systems, and European governments are briefed. Mid-August Tom Enders suffers a sporting accident injury that prevents him from accompanying German Chancellor Angela Merkel on a trip to China. Aug. 29

Boeing says reliability is similar to 777 in its early days.

The Welsh government is looking for ways to turn around the fortunes of its capital's long-suffering international airport. Since passenger numbers peaked at just over 2 million in 2007, the number of people using the airport—which sits 15 mi. to the west of the Welsh capital—have fallen by half. Passenger numbers for 2012 were expected to barely break the 1-million mark.

Europe's network airlines are finally realizing that low-cost carriers are here to stay. More importantly, they are also conceding that passengers are willing forgo some creature comforts and pay extra for add-ons such as checked baggage, seat selection and food.

For a glimpse of China's commercial aviation future, take a look at Shenzhen, the mainland's most developed city. The immediate outlook for the metropolis of 10 million, and therefore the more distant future for the rest of the country, is slower commercial aviation growth and less urgent need for new infrastructure.

Senate Majority Leader Harry Reid (D-Nev.) and House Speaker John Boehner (R-Ohio), were presented with a challenge at the start of 2012: get their parties to agree to cut $1.2 trillion from the budget and deal with a series of tax extensions. Failing meant a likely recession caused by inaction, and election-year inertia only raised the stakes.