Boeing CFO remains upbeat on 787

A new 787 wiring problem pushed Boeing shares down nearly 2 percent Wednesday, but a company executive was upbeat about the Dreamliner’s future.

“We’re just going to continue to focus on (787) reliability and dispatch rates with our customers,” said Greg Smith, Boeing’s chief financial officer.

Smith’s remarks at a Jefferies Global Industrials Conference in New York were webcast Wednesday not long after the 787’s launch customer, All Nippon Airways, reported wiring problems found in three 787s fire-suppression systems. Boeing’s stock closed Wednesday down $2.07, at $104.16.

Boeing and 787 operators have faced a variety of challenges with the jet this year. Federal aviation officials grounded the Dreamliner for three months over battery failures. Last month, an emergency beacon on a 787 operated by Ethiopian Airlines caught fire while the jet was parked at London’s Heathrow Airport. And in late July, Qatar Airways removed a 787 from commercial service for more than a week for an unspecified issue.

Smith said the company is using its monitoring system to minimize disruptions to 787 customers. The Chicago-based jet maker tracks the performance of 787s in commercial service.

Despite the Dreamliner’s troubles, Boeing plans to deliver more than 60 787s this year. With 24 Dreamliner deliveries through the end of July, Smith said, “it’s all going to be about (quarter) three and four 787 deliveries.”

Boeing’s CFO was upbeat about the progress in 787 production, noting the quality coming from 787 suppliers has improved by 40 percent from the 60th 787 assembled to the 100th.

“We obviously are very diligently focused tail number by tail number to get the planes out,” he said.

Smith noted the latest version of the Dreamliner, the 787-9, is “progressing well.” Boeing is expected to begin flight testing the 787-9 later this summer and deliver the first aircraft by mid-2014.

More in Herald Business Journal

How stocks in local banks fared since the recession

Every bank was hit hard during the recession, but most have bounced back in a big way.

Boeing bolsters team for potential 797 with leading engineer

Terry Beezhold has been chief project engineer for the 777X program.

The FCC chairman moves to repeal ‘net neutrality’ rules

His plan would allow internet providers to control broadband speeds and favor their own services.

Tom Hoban
Are millennials warming up to life in suburbia?

They dominate the apartment market and their wants need to be accounted for, says columnist Tom Hoban.

Camano artist mixes flask, paintings for successful cocktail

Art flasks prove popular as bachelorette gifts, birthday presents and wedding favors.

Katie Garrison
New agent joins Re/Max Elite’s office in Snohomish

Re/Max Elite welcomed a new agent to its Snohomish office. Katie Garrison… Continue reading

UW Bothell Pub Talk looks at Greenhouse Gas Mystery

The Greenhouse Gas Mystery is the topic for the next UW Bothell… Continue reading

EvergreenHealth Monroe pharmacy interns travel to Ghana

Earlier this year, University of Washington School of Pharmacy students and EvergreenHealth… Continue reading

Everett Clinic Foundation gives $6,500 to nonprofit Christmas House

The Everett Clinic Foundation recently awarded a $6,500 operating grant to the… Continue reading

Most Read