PRESS RELEASES
BUSINESS, TRAVEL & AEROSPACE PUBLICATIONS
Pyramid.ch
AirGuideOnline.com & AirGuideBusiness.comFor Immediate Release
Record Orders and Profits for Boeing and Falling Earnings for Airbus Parent EADS.
New York, July 26, 2007 - Airbus Parent EADS said second-quarter earnings before interest and tax fell to EUR278 million from EUR863 million a year earlier. Quarterly sales fell 4 percent to EUR9.509 billion and net profit fell 85 percent to EUR81 million. The figures included a EUR500 million charge for the cost of redesigning and relaunching the Airbus A350 -- now dubbed A350 XWB for "extra wide body" -- to compete with the successful 787 Dreamliner which has strongly boosted Boeing's fortunes. The charge came on top of a restructuring charge of EUR688 million taken in the first quarter as Airbus cuts 10,000 jobs to compensate for the dollar's record weakness against the euro and repair the cost of delays to its A380 superjumbo.Boeing Commercial Airplanes enjoyed a 22% year-over-year revenue increase to $8.71 billion on a 17.5% lift in deliveries to 114 aircraft, comprising 86 737 NGs, four 747s, three 767s and 21 777s. Segment operating profit of $960 million represented a 34% jump over the $719 million earned in the year-ago quarter. Boeing booked 360 gross orders during the quarter and 549 in the first six months of the year.
Boeing expects revenue of $65 billion this year, up 5.6% from 2006. Boeing Commercial Airplanes expects to deliver 440-445 aircraft with all production slots sold, with deliveries rising to 515-520 in 2008 with slots "essentially sold out." It said it will deliver an even higher number of units in 2009 while reiterating that it expects ontime delivery of the first 787 in May 2008. First flight is scheduled for September and Boeing said it "continues to address and manage pressures with respect to supplier performance, schedule and weight." The 787 has logged 683 firm orders from 47 customers.
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