Boeing further delays Dreamliner delivery to end of 2010

Boeing 787 Dreamliner

Boeing 787 Dreamliner

Chicago-based Boeing Corp has just announced a revised schedule that will further delay the 787 Dreamliner delivery date to near the end of 2010.

Boeing is using the additional time to fine-tune the design of the aircraft, more specifically a structural design flaw with the sides of the fuselage. Boeing will also use the extra time for additional test flights to ensure the safety of the aircraft.

As of right now, Boeing currently has 850 orders from 56 customers worldwide who have contracts in place to buy the Dreamliner.

One of the first customers that are scheduled to receive the new Dreamliner, All Nippon Airways of

 Japan, has expressed frustration today in a statement relating to the new delay, but noted the importance of safety. The company currently has a placement to buy 55 Dreamliner planes from Boeing.

Despite the added costs from the delay, Boeing says the Dreamliner is still on target for previous estimated profits. Boeing did warn the company would take on a $2.5 billion ($2.21 per share) charge this Octoberbut also said it would have no effect on “cash outlook”.

The Dreamliner project initially launched in 2004, and was at that time scheduled for the delivery of the first Dreamliner for 2008.

The Dreamliner from Boeing will include half as much of plastic components, making the plane more efficient by using up to 20-percent less fuel compared to current jumbo jets.

Airbus is currently developing an upgraded version of its A350 airplane that will be able to fly to further destinations that is currently slated to be operational around the world by the end of 2013.

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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