Boeing's troubled 787 could cause problems in company's finances
Chicago-based Boeing says frequent delays of a new airplane could put financial pressures on the company in 2011. The new fuel efficient Boeing 787 Dreamliner is behind schedule by about three years now. The latest delay resulted from a fire which occurred during a test flight.
In a conference call Wednesday morning to discuss the latest earnings, Boeing's head of finances, James Bell, said all the delays are having a toll on the company's profits.
"The cumulative impact of the 787 scheduled revisions has put pressure on program profitability and the team continues to evaluate improvement opportunities to offset these pressures," Bell said.
Boeing has orders for more than 800 787s waiting to be delivered. The company now expects the plane to be ready later this year.
Boeing's revenues for 2010 were down six percent from the previous year.