More Dreamliner delays for Boeing

17-01-2008

More Dreamliner delays for Boeing
Boeing, the commercial airplane maker, has announced that release of its new 787 Dreamliner aircraft will be delayed until early 2009.

The operator of the International Space Station had announced last month that there would be no more delays to the new plane. However, yesterday's announcement marks the third time deliveries have been delayed.

"We are deeply disappointed by what this delay means for our customers, and we are committed to working closely with them as we assess the impact on our delivery schedules," said Scott Carson, president and chief executive of the aerospace company's commercial aircraft division.

Mr Carson said he recognises that the company's credibility at stake as a result of the continued completion problems.

The first flight of the new mid-size, long-distance jet plane has been pushed back to the end of June, as Boeing faces supply-chain problems and "start-up issues" at its factory in Everett, Washington.

"We underestimated how long it would take to complete someone else's work," Pat Shanahan, general manager for the 787 program, said during a teleconference call yesterday.

Boeing said, however, that delay of more than 800 orders of the more fuel-efficient plane to clients all over the world was not expected to hurt its bottom line.

"There will be no impact from the schedule change on 2007 financial results and the company does not expect the impact on 2008 earnings guidance to be significant. The company continues to expect strong earnings per share growth in 2009," the update said.

"The outlook for the company's defence business and in-production commercial airplane programs remains very strong."

The Chicago-based company may face penalty fees from its customers, and some analysts are sceptical of its future performance.

The Dreamliner, which will seat over 250 people, has been the company's fastest-selling product to date.

The price for a share of Boeing rose by 2.52 per cent to $94.90 (47.45p) in yesterday's trading on Wall Street.

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