ST. LOUIS, May 22 (Reuters) - Boeing Co. (BA) Chief Executive Phil Condit said on Wednesday the world's largest airplane manufacturer may use the cash it is generating from its various businesses to buy back stock and for strategic acquisitions, which he did not specify. "We will use that cash wisely; we will deploy it," rather than letting it sit, Condit said in response to a question at the company's annual investor conference. Boeing in 2002 expects to generate $2.5 billion to $3 billion in cash flow, with 2003 targeted above $3 billion. Condit also said the big drop-off in travel demand since the Sept. 11 attacks will take a while to recover. "I think it will take a relatively long time for air travel to come back," he said. Shares of Boeing closed at $44.35 on the New York Stock Exchange on Tuesday. ©2002 Reuters Limited.