Boeing earnings, future in Washington state
Published 12:17 pm Wednesday, April 22, 2009
While Boeing officials reported the company’s first quarter earnings this morning, local analyst Scott Hamilton pondered the company’s future in Washington state.
Hamilton suggested that Washington (Snohomish County to be more precise) stands to lose more than just a second jet production line for Boeing’s 787. Here’s my initial story from Hamilton’s address at the Economic Development Council’s meeting this morning. The analyst’s slideshow from the event is also online.
Hamilton’s top predictions:
- Boeing makes a decision on a second 787 line by end of 2009 or early 2010 and it’s not located in Washington.
- The company could move existing 787 production out of Everett to new location in 2013 or 2014.
- As early as 2011, Boeing begins to make decision about replacements for 737 or 777.
- By 2020, Boeing’s assembly of jets in the Puget Sound could essentially be over.
Note: Analyst Richard Aboulafia also has predicted a Boeing exodus from Washington over the next two decades.
I’m listening to a replay of the
Top items from Boeing’s report:
- Boeing pushes back 747-8 Intercontinental delivery to fourth quarter 2011 from second quarter 2011.
- Company received requests for 60 jet deferrals in first quarter.
- The 737 production rate isn’t being adjusted due to overbookings for the jet.
- The 787 is still set to fly by end of June and first delivery still is scheduled for early next year.
