Boeing will announce a further delay tomorrow morning to its schedule for the 787 Dreamliner. The announcement was first reported by The...
Boeing will announce a further delay tomorrow morning to its schedule for the 787 Dreamliner.
The announcement was first reported by The Wall Street Journal on its Web site Tuesday. Boeing declined to comment.
The Seattle Times reported Thursday that analysts were growing increasingly skeptical that Boeing can meet the schedule laid out in December, which calls for first flight of the Dreamliner in March and delivery of 109 planes by the end of 2009.
Morgan Stanley analyst Heidi Wood said in a note to investors last month that the first Dreamliner still had no avionics or wiring in the cockpit in mid-December and that the speculation of further delay is “likely true.”
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She wrote that the jet’s first flight, supposed to happen in March, “might occur closer to late April/May.”
Two people who have talked with several local 787 engineers independently confirmed Woods’ assertion to the Times. They added that just before Christmas, the plane’s fuselage remained largely a shell, with few systems installed.
Today Wood amplified on her downgrade of Boeing stock last month, writing, “We thought there was realistic downside to the $74-area, the trigger being another announced delay. With the WSJ article, we see our bear case scenario playing out.”
Boeing shares closed down $3.81, or 4.7 percent, at $77.86 today after the Journal report.