Boeing may not deliver 787 until 2011
Delays in its test program may hold up the first deliveries. The company says issues are not related to design.
Boeing (BA) warned today that delays in the 787 Dreamliner flight test program may push the first delivery of the new jet into next year.
"Our plan remains to deliver the airplane by the end of the year," Scott
Fancher, head of the 787 program, said in a conference call. "As a cautionary
note, we could see it move a few weeks into the new year."
Fancher attributed most of the schedule pressure to the fact that fitting out flight test planes with new test instrumentation as they move from one block of tests to another is taking longer than expected.
Boeing shares were off 0.6% to $64.46 at 1:55 p.m. ET. The shares had been down as much as 2.2% at 12:30 p.m.
The plane originally was scheduled to enter service in 2008, but design and production delays have pushed deliveries back.
These include recently discovered quality problems in assembly of the horizontal tails, The Seattle Times noted.
Customers, including Japanese airline ANA, which will take the first airplane, are being kept informed.
And he stressed that the problems are with progress in the flight test and in assembly work, not with the Dreamliner design.
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[BRIEFING.COM] The S&P 500 (+0.1%) hovers right above its flat line with seven sectors sporting gains.
Market participants received just one economic data point today (June Pending Home Sales -1.1%), but the rest of the week will bring a full slate of data. Tomorrow, the Case-Shiller 20-city Index (Briefing.com consensus 10.0%) will be released at 9:00 ET, while the July Consumer Confidence report (consensus 85.6) will cross the wires at 10:00 ET.
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