Followers | 687 |
Posts | 142406 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
![](https://investorshub.advfn.com/uicon/35728.png?cb=1539773763)
Wednesday, April 20, 2022 4:16:40 PM
By: Reuters | April 20, 2022
• Boeing Co has advised key airlines and parts suppliers that 787 Dreamliner deliveries would resume in the second half of 2022, a crucial landmark for an industry eager for a post-COVID recovery, three people familiar with the matter said.
SEATTLE/PARIS (Reuters) – Boeing Co has advised key airlines and parts suppliers that 787 Dreamliner deliveries would resume in the second half of 2022, a crucial landmark for an industry eager for a post-COVID recovery, three people familiar with the matter said.
Boeing’s swollen 787 inventory, amassed since it halted deliveries nearly a year ago over structural flaws, has locked up desperately needed cash and cut airline capacity.
Resuming deliveries is also key to Boeing’s plans for step-by-step 787 production increases in the coming months – vital to propping up a supply chain that has weathered successive crises.
A once-envisioned delivery target of April has already been pushed back to May with the expectation of further delays, the people said, as Boeing undertakes painstaking inspections and repairs for structural flaws in some 100 of the advanced composite jets, under scrutiny from more assertive U.S. air-safety regulators.
Boeing has stopped making public predictions on when it will win approval to resume deliveries. Boeing pegged the overall cost of the industrial snarl at $5.5 billion.
Two people familiar with the matter said that Boeing has told airlines that deliveries would resume during the second half of this year. One of the people added that a restart during the third quarter of 2022 was realistic. The people and other industry sources cautioned that targets have repeatedly slipped.
A Boeing spokesperson declined to comment, saying the FAA would determine when deliveries resume.
“As we’ve said, we are taking the time needed to ensure conformance to our exacting specifications,” the spokesperson said.
“Safety dictates the timeline,” an FAA spokesperson said.
In February, the agency revoked Boeing’s ability to self-certify 787 jets.
The FAA spokesperson added that it would retain that authority until the agency is confident that Boeing is building planes that meet its design standards, deliveries are stable and that Boeing “has a robust plan for the re-work that it must perform on a large volume of new 787s in storage.”
Investors will be eager for details on the 787 program when Boeing reports earnings on April 27.
The 787 problems have crimped airlines’ ability to ramp up capacity and triggered production rate cuts. That has hurt a supply chain already strained by the coronavirus crisis and the nearly two-year safety ban of the 737 MAX after fatal crashes.
Due to 787 delays, American Airlines Group Inc in February said it was suspending routes between Seattle and London, Los Angeles and Sydney, and Dallas and Santiago, among other operations changes.
American, which reports quarterly results on Thursday, declined to comment on the Boeing delivery schedule.
A United Airlines spokesperson referred to the carrier’s comments in January. United told analysts it originally expected to take delivery of as many as eight 787 jets in the first half of 2021, but that target moved to after the summer of 2022 – forcing it to cut capacity.
Read Full Story »»»
![](http://studentaid.gov/universal-navigation/assets/us_flag_small.png)
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent BA News
- Boeing to Release Second-Quarter Results on July 31 • PR Newswire (US) • 07/03/2024 03:00:00 PM
- Apple Joins OpenAI Board, Logitech President Opts Out of Reelection, and More News • IH Market News • 07/03/2024 10:59:39 AM
- BISim™ releases powerful upgrades to VBS4 and VBS Blue IG • Business Wire • 07/02/2024 07:27:00 PM
- Turkish Airlines Orders Four More Boeing 777 Freighters • PR Newswire (US) • 07/02/2024 01:00:00 PM
- Rowley Law PLLC is Investigating Proposed Acquisition of Spirit AeroSystems • PR Newswire (US) • 07/01/2024 08:59:00 PM
- Spirit AeroSystems Announces Acquisition by Boeing in $8.3 Billion Transaction • PR Newswire (US) • 07/01/2024 04:05:00 AM
- Spirit AeroSystems Announces Acquisition by Boeing in $8.3 Billion Transaction • PR Newswire (US) • 07/01/2024 04:05:00 AM
- Boeing to Acquire Spirit AeroSystems • PR Newswire (US) • 07/01/2024 04:01:00 AM
- Nike Stock Drops 14% in Pre-Market; Nokia Acquires Infinera for $2.3 Billion, and More News • IH Market News • 06/28/2024 10:50:25 AM
- Interactive Brokers Loses $48 Million on NYSE, Amazon Achieves Historic Market Value, and More News • IH Market News • 06/27/2024 11:13:41 AM
- Dow Dips, Nasdaq Gains, Oil Prices Rise • IH Market News • 06/26/2024 11:00:03 AM
- Boeing 2024 Sustainability & Social Impact Report Shows Steady Progress for People and Planet • PR Newswire (US) • 06/25/2024 02:10:00 PM
- SolarEdge Stock Falls 13%, Wegovy Approved in China, Grail Nasdaq Debut, Apple Rejects Meta Chatbot • IH Market News • 06/25/2024 10:36:11 AM
- UPS Divests Coyote Logistics in $1.025 Billion Deal with RXO, Under Armour Agrees to $434 million Settlement, and More News • IH Market News • 06/24/2024 11:00:20 AM
- Honeywell Acquires CAES Systems for $1.9 Billion, Sarepta Therapeutics Surges 34%, Gilead Continues Gains • IH Market News • 06/21/2024 12:00:38 PM
- Trump Media Resells Stocks and Warrants; KB Home Exceeds Q2 Expectations, and More News • IH Market News • 06/20/2024 10:55:11 AM
- Fisker Files for Bankruptcy, Chegg Stocks Rise on 23% Workforce Reduction, and More • IH Market News • 06/18/2024 11:02:13 AM
- BAE Systems showcases modularity of Armored Multi-Purpose Vehicle with new prototype at Eurosatory • Business Wire • 06/17/2024 12:00:00 PM
- Goldman Sachs Raises S&P 500 Forecast for 2024; Disney Secures Deadpool & Wolverine in Chinese Cinemas, and More • IH Market News • 06/17/2024 10:49:12 AM
- BAE Systems, Inc. Announces Leadership Transition on Board of Directors • Business Wire • 06/14/2024 06:45:00 PM
- Adobe Soars 15% Pre-Market; Visa and Mastercard Encounter Hurdles in $30 Billion Agreement, and More • IH Market News • 06/14/2024 11:21:47 AM
- Tesla Surges 5% in Pre-Market; Virgin Galactic Drops 9% Following Reverse Stock Split, and More News • IH Market News • 06/13/2024 11:24:25 AM
- Paramount Ends Skydance Talks, Oracle Shares Surge 8.7% on New Partnerships, and More News • IH Market News • 06/12/2024 11:19:10 AM
- FDA Panel Supports Eli Lilly’s Donanemab, Rio Tinto Expands Stake in Boyne Smelters, and More News • IH Market News • 06/11/2024 11:11:40 AM
- Apple Showcases AI at WWDC 2024, Nvidia Stock Split Starts Today, and More News • IH Market News • 06/10/2024 11:29:44 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM