Boeing announces another 787 delay
Boeing Co, the world's second-largest commercial aircraft maker, delayed delivery of the 787 Dreamliner until the third quarter of 2009, its third postponement in six months.
The new date, announced by Boeing yesterday in a statement, puts the Dreamliner at least 14 months behind its original schedule of May 2008. Chicago-based Boeing had said in January it would have the 787 to its first customer, All Nippon Airways Co, in early 2009.
Boeing has lost a quarter of its market value since postponing the 787 in October and again in January because of parts shortages and a new assembly process that relies heavily on vendors. The delays mar what has otherwise been Boeing's most successful new-plane sales campaign ever, with 892 orders valued at about $154.3 billion.
The delay is the second setback for Boeing in six weeks. The company, which is also the second-largest defense contractor, on Feb 29 lost a $35 billion program for US Air Force aerial refueling tankers to Northrop Grumman Corp and the parent of rival planemaker Airbus SAS. Boeing had been the only builder of Air Force tankers for more than 50 years.
Boeing rose to $75.86 at 8:39 am New York time from its closing price on Tuesday of $75.02 in New York Stock Exchange composite trading.
Boeing said it will now deliver just 25 planes next year, less than a quarter of what had originally been planned, and that the new schedule doesn't change its 2008 profit projections. The first test flight is now targeted for the final three months of this year instead of later this quarter.
Agencies
(China Daily 04/10/2008 page15)
