Boeing announced Wednesday it is delaying delivery of it new 787 Dreamliner by six months because of issues with the completion of the first plane. The commercial-plane maker now predicts deliveries will begin in late November or early December. Boeing is having problems with work that suppliers should have completed at their own plants, and yet-to-be-finished flight software from Honeywell. "Notwithstanding the challenges that we are experiencing in bringing forward this game-changing product, we remain confident in the design of the 787, and in the fundamental innovation and technologies that underpin it," said CEO Jim McNerney. Boeing had previously admitted to struggling with putting the plane together (full story), but this is the first time it has pushed back the delivery date. Boeing already has $120 billion worth of orders for the Dreamliner. Shares of the company are down 2.7% to $98.75 in midday trading Wednesday.
Sources: Press Release, Bloomberg
Commentary: Boeing Tops Airbus in Q3 Orders • Boeing Claims It Can Deliver 787 Dreamliner On Time
Stocks/ETFs to watch: BA, HON. Competitors: LMT, NOC. ETFs: ITA, UXI
Earnings call transcript: Boeing Q2 2007
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