Boeing slumps on back of 787
BOEING posted a larger-than-expected quarterly loss on costs related to its long-delayed 787 Dreamliner, but the world’s second-largest planemaker reaffirmed the commercial aircraft is on track to fly this year.
Boeing said yesterday the aircraft would fly this year with first delivery set for the fourth quarter of 2010.
“The surprise was they reiterated the (787) schedule,” said Alex Hamilton, senior managing director at Jesup & Lamont.
“I always look at these as opportunities to kind of reset the bar,” Hamilton said. “I think there’s a lot of growing scepticism about their delivery schedule.”
Chicago-based Boeing and European rival Airbus have been hit hard this year as carriers and cargo operators grapple with the global recession and credit crisis. Meanwhile, Boeing’s defence unit is struggling with sweeping government budget cuts.
Boeing said its revenue was $16.7bn (£9.8bn), up nine per cent from the year-ago period, which was impacted by a labour strike, but still far short of $17.16bn that analysts had expected.
Boeing has grappled this year with delays to the new Dreamliner. The aircraft features revolutionary composite materials and construction methods.
The aeroplane is two years behind schedule, and some industry watchers say it could be delayed further. The firm has a record 840 firm orders for Dreamliners from 55 customers.
Boeing slumps on back of 787
BOEING posted a larger-than-expected quarterly loss on costs related to its long-delayed 787 Dreamliner, but the world’s second-largest planemaker reaffirmed the commercial aircraft is on track to fly this year.
Boeing said yesterday the aircraft would fly this year with first delivery set for the fourth quarter of 2010.
“The surprise was they reiterated the (787) schedule,” said Alex Hamilton, senior managing director at Jesup & Lamont.
“I always look at these as opportunities to kind of reset the bar,” Hamilton said. “I think there’s a lot of growing scepticism about their delivery schedule.”
Chicago-based Boeing and European rival Airbus have been hit hard this year as carriers and cargo operators grapple with the global recession and credit crisis. Meanwhile, Boeing’s defence unit is struggling with sweeping government budget cuts.
Boeing said its revenue was $16.7bn (£9.8bn), up nine per cent from the year-ago period, which was impacted by a labour strike, but still far short of $17.16bn that analysts had expected.
Boeing has grappled this year with delays to the new Dreamliner. The aircraft features revolutionary composite materials and construction methods.
The aeroplane is two years behind schedule, and some industry watchers say it could be delayed further. The firm has a record 840 firm orders for Dreamliners from 55 customers.