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

An Alaska Airlines Embraer 175. The carrier plans to use this model on routes to and from Paine Field in Everett. (Alaska Airlines)
Alaska Airlines hopes to be a decent neighbor in Everett

Diana Birkett Rakow shared aspects of the company’s philosophy as keynote at an Economic Alliance event.

Aerospace supplier MTorres is taking off in Everett

Spanish company has received nearly $40 million in new projects since opening near Boeing in Everett.

Studies are increasingly clear: Uber, Lyft congest cities

Instead of using buses, subways, bicycles and their own feet, ride sharing puts more people in cars.

Microsoft fights US in high court to protect global business

Issue concerns a warrant for emails stored on a server in a Microsoft facility in Dublin, Ireland.

Investor Warren Buffett says good deals are tough to find

Succeeding in the market requires the discipline to act sensibly when markets do crazy things.

Economists: Trump’s infrastructure math off by 98 percent

One study found that states increase total spending by $1.06 for every federal dollar received.

Aluminum and steel situation shows complexity of ‘free trade’

The economic theory of free trade is no help because it is fragile.

Book Trump? Interest groups press case at his properties

Lobbying experts say as long as Trump can profit from such bookings, special interests will take advantage.

US manufacturers have produced 150 million guns since 1986

The vast majority of all U.S.-produced firearms were sold domestically.

Most Read