HeraldNet: Boeing sees minimal jet deferrals, 'concerned' about oil prices



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Aerospace Blog

July 23, 2008

Boeing sees minimal jet deferrals, 'concerned' about oil prices

Posted at 8:06 am

Boeing’s Jim McNerney says he’s concerned about energy prices and the impact high oil prices on the company’s customers.

But McNerney told investors this morning that Boeing has seen minimal commercial aircraft deferrals and no cancellations so far.

“Deferrals and cancellations are a normal part of business,” McNerney said. “We assume a certain amount of deferrals and cancellations. … Right now the demand for fuel efficient aircraft is still higher than what we can supply.”

Boeing’s commercial backlog grew to $275 billion at the end of second quarter, but the company’s overall net income for the last three months was lower than expected, dropping 19 percent.

The company’s shares are down about 3 percent in trading this morning.

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