Another flight delay for Boeing's 787 Dreamliner

[marmar]

from Bloomberg:



Boeing Delays 787 Again to Third Quarter of 2009 (Update1)

By Susanna Ray

April 9 (Bloomberg) -- Boeing Co., the world's second- largest commercial aircraft maker, delayed delivery of the 787 Dreamliner until the third quarter of 2009, its third postponement in six months.

The new date, announced by Boeing today in a statement, puts the Dreamliner at least 14 months behind its original schedule of May 2008. Chicago-based Boeing had said in January it would have the 787 to its first customer, All Nippon Airways Co., in early 2009. Today's delay matched the forecast of 10 analysts in a Bloomberg News survey.

Boeing has lost a quarter of its market value since postponing the 787 in October and again in January because of parts shortages and a new assembly process that relies heavily on vendors. The delays mar what has otherwise been Boeing's most successful new-plane sales campaign ever, with 892 orders valued at about $154.3 billion.

``They weren't on-hands enough with the subcontractors,'' Michael Derchin, an analyst with FTN Midwest Research Securities Corp. in New York, said in an interview last week. ``They delegated too much and weren't on top of it enough. That was a big mistake.''

The delay is the second setback for Boeing in six weeks. The company, which is also the second-largest defense contractor, on Feb. 29 lost a $35 billion program for U.S. Air Force aerial refueling tankers to Northrop Grumman Corp. and the parent of rival planemaker Airbus SAS. Boeing had been the only builder of Air Force tankers for more than 50 years.

Boeing rose to $75.86 at 8:39 a.m. New York time from its closing price yesterday of $75.02 in New York Stock Exchange composite trading. ......(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aLIVwoOvBaNU&refer=home