Boeing profits despite Dreamliner grounding
Boeing has achieved a strong rise in first quarter profits, despite the grounding of the global fleet of Dreamliners.
The planemaker generated operating profits of US$1.53 billion in the first three months of 2013, 2% lower than the same period last year. In the commercial aircraft segment however, Boeing’s operating profits jumped 13% to US$1.22bn. This came as the company delivered 137 aircraft during the quarter and booked orders for a further 209. It also increased the production rate of its B737 and B777 programmes, partially offsetting the Dreamliner decline.
“Strong core operating performance fuelled by productivity gains and solid programme execution drove higher company earnings,” said Boeing’s chairman, president & CEO, Jim McNerney. “Our first priority in the days ahead is to fully restore our customers’ 787 fleets to service and resume production deliveries. Our outlook for the year is positive.”
This optimism will have been further lifted by the fact that US authorities have now officially permitted the Dreamliner to return to service. Having approved Boeing’s new battery solution last week, the US Federal Aviation Administration (FAA) has now formally re-issued an airworthiness directive for the B787, enabling US airlines to resume flights using the aircraft. Other national aviation bodies are now likely to follow suit.
LOT Polish Airlines announced yesterday that it has resumed the sale of its Dreamliner flights. The Warsaw-based carrier confirmed it would relaunch the B787 on 5 June on the Toronto-Warsaw route.
Boeing has maintained its outlook for full-year 2013, which would see the company deliver between 635 and 645 commercial aircraft, far exceeding last year’s total of 601.