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Wednesday, July 24, 2013

Boeing Reports Strong Second Quarter Commercial Performance

By Woodrow Bellamy III

Boeing's second quarter net profit increased by 13 percent over the same period 2012 reaching $1.1 billion, as the airframe manufacturer reported higher deliveries of its 737 and 787 aircraft.
Revenue from commercial airplanes increased 15 percent to $13.6 billion, compared to $11.8 billion a year ago. The April-June period was strong enough for the company to raise its 2013 revenue outlook from $82-$85 billion to $83-$86 billion. 
Jim McNerney, president and CEO of Boeing, said its "successful launch of the 787-10 and $40 billion of new orders, while our defense, space and security business delivered improved margins and market share in a tough market." 
During the second quarter, Boeing recorded 481 net orders, pushing its backlog to 4,800 aircraft worth $339 billion. 
The 787 Dreamliner returned to service during the second quarter after being grounded as the result of incidents involving overheating batteries in January. The 787 continues to face scrutiny though, as FAA prepares to require mandatory inspections of the plane's emergency locator transmitter (ELT) system, which is suspected to be the cause of a fire that occurred on an Ethiopian Airlines 787 at Heathrow International Airport recently.


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