Boeing CFO remains upbeat on 787

  • By Michelle Dunlop Herald Writer
  • Wednesday, August 14, 2013 4:08pm
  • Business

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.

Talk to us

> Give us your news tips.

> Send us a letter to the editor.

> More Herald contact information.

More in Business

Reed Macdonald, magniX CEO. Photo: magniX
Everett-based magniX appoints longtime aerospace exec as new CEO

Reed Macdonald will take the helm at a pivotal time for the company that builds electric motors for airplanes.

People walk along a newly constructed bridge at the Big Four Ice Caves hike along the Mountain Loop Highway in Snohomish County, Washington on Wednesday, July 19, 2023. (Annie Barker / The Herald)
Check out the best tourist attractions in Snohomish County

Here’s a taste of what to do and see in Snohomish County, from shopping to sky diving.

People walk out of the Columbia Clearance Store at Seattle Premium Outlets on Thursday, April 25, 2024 in Quil Ceda Village, Washington. (Olivia Vanni / The Herald)
Head to Tulalip for retail recreation at Seattle Premium Outlets

The outlet mall has over 130 shops. You might even bring home a furry friend.

Brandon Baker, deputy director for the Port of Edmonds, shows off the port's new logo. Credit: Port of Edmonds
A new logo sets sail for the Port of Edmonds

Port officials say after 30 years it was time for a new look

Penny Clark, owner of Travel Time of Everett Inc., at her home office on Tuesday, April 23, 2024 in Arlington, Washington. (Olivia Vanni / The Herald)
In a changing industry, travel agents ‘so busy’ navigating modern travel

While online travel tools are everywhere, travel advisers still prove useful — and popular, says Penny Clark, of Travel Time in Arlington.

Travis Furlanic shows the fluorescent properties of sulfur tuft mushrooms during a Whidbey Wild Mushroom Tour at Tilth Farmers Market on Saturday, April 27, 2024 in Langley, Washington. (Annie Barker / The Herald)
On Whidbey Island, local fungi forager offers educational mushroom tours

Every spring and fall, Travis Furlanic guides groups through county parks. His priority, he said, is education.

ZeroAvia founder and CEO Val Mifthakof, left, shows Gov. Jay Inslee a hydrogen-powered motor during an event at ZeroAvia’s new Everett facility on Wednesday, April 24, 2024, near Paine Field in Everett, Washington. (Ryan Berry / The Herald)
ZeroAvia’s new Everett center ‘a huge step in decarbonizing’ aviation

The British-American company, which is developing hydrogen-electric powered aircraft, expects one day to employ hundreds at the site.

Allan and Frances Peterson, a woodworker and artist respectively, stand in the door of the old horse stable they turned into Milkwood on Sunday, March 31, 2024, in Index, Washington. (Ryan Berry / The Herald)
Old horse stall in Index is mini art gallery in the boonies

Frances and Allan Peterson showcase their art. And where else you can buy a souvenir Index pillow or dish towel?

Everett
Red Robin to pay $600K for harassment at Everett location

A consent decree approved Friday settles sexual harassment and retaliation claims by four victims against the restaurant chain.

magniX employees and staff have moved into the company's new 40,000 square foot office on Seaway Boulevard on Monday, Jan. 18, 2020 in Everett, Washington. magniX consolidated all of its Australia and Redmond operations under one roof to be home to the global headquarters, engineering, manufacturing and testing of its electric propulsion systems.  (Andy Bronson / The Herald)
Harbour Air plans to buy 50 electric motors from Everett company magniX

One of the largest seaplane airlines in the world plans to retrofit its fleet with the Everett-built electric propulsion system.

Simreet Dhaliwal speaks after winning during the 2024 Snohomish County Emerging Leaders Awards Presentation on Wednesday, April 17, 2024, in Everett, Washington. (Ryan Berry / The Herald)
Simreet Dhaliwal wins The Herald’s 2024 Emerging Leaders Award

Dhaliwal, an economic development and tourism specialist, was one of 12 finalists for the award celebrating young leaders in Snohomish County.

Lynnwood
New Jersey company acquires Lynnwood Land Rover dealership

Land Rover Seattle, now Land Rover Lynnwood, has been purchased by Holman, a 100-year-old company.

Support local journalism

If you value local news, make a gift now to support the trusted journalism you get in The Daily Herald. Donations processed in this system are not tax deductible.