Boeing second quarter profit up

BOEING has reported a 17 per cent rise in its second-quarter profit, beating analyst predictions. It says it earned US$998 million for the three months ending 30 June compared to $852 million for the same period last year.

Revenue rose slightly by 1 per cent to $17.15 billion from $16.96 billion in 2008, helped in part to a strong defence division, although its commercial revenue slipped back 2 per cent, to $8.4 billion.

However, the airplane maker expects to re-evaluate its earnings forecast in the third quarter once the long-delayed but much-anticipated 787 (right) finally launches.

Boeing’s came under frustrated fire last month when it postponed the 787’s first test flight and deliveries for the fifth time, taking it two years over schedule.

“Much to our disappointment, the 787 continues to challenge us,” said Boeing’s chairman, president and chief executive officer, Jim McNerney adding that fixing the problem was “straightforward and involves a relatively small number of parts.”

For the full story see the next issue of Air Cargo News, out on 7 August.

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