The Boeing Co. reported an 8 percent increase in its 2007 revenue to $66.4 billion having delivered more commercial jets than in 2006. However, the company lowered its projected revenue for 2008 due to delays in its 787 Dreamliner program. Boeing continues to post an impressive backlog of $327 billion across the company, with $255 billion of that backlog just within Boeing Commercial Airplanes.
As for the 787, Boeing said it intends to put the first aircraft in flight “around the end of the second quarter of 2008 with first delivery in early 2009,” according to a company press release.
UPDATE: Boeing’s Jim McNerney, chief executive, says the company will update investors on the 787 in April, calling the Dreamliner’s latest delay “very disappointing.”
“We believe in both the business case and the technology of the 787,” McNerney said.
Boeing continues to expect a prolonged commercial jet orders cycle, given that U..S. carriers have yet to place significant orders. McNerney pointed out that Boeing’s revenue from U.S. customers was less than 10 percent last year.
James Bell, Boeing’s chief financial officer, said the company’s record backlog suggests it is meeting customers’ needs. While orders get a lot of attention, Bell said, executing on the backlog (such as delivering the first 787) is what really counts.
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