Company Watch - Boeing.


Oct 15, 2007

Air India parent National Aviation of India signed a $1.23 billion financing package with the Export-Import Bank of the US to support the acquisition of 17 Boeing aircraft and four spare engines, the bank announced. Ex-Im Bank signed an $862.6 million guarantee of an ABN AMRO long-term loan backing Air India's purchase of Boeing 777-200LRs, 777-300ERs and GE90s. It also signed a $363.5 million guarantee of an ABN AMRO loan for the acquisition of 737-800s and CFM56 spares for use by Air India Express. Oct 11, 2007

Boeing delivered on Oct. 10 to Mumbai-based Air India the airline's first 777-300ER (Extended Range) airplane. This is the first 777-300ER from Air India's order of 68 Boeing jetliners placed in December 2005. Air India's 777-300ER has a three-class configuration, including four first-class, 35 executive class and 303 economy seats. In July 2007, Boeing and Air India celebrated the delivery of the airline's first 777, a 777-200LR (Longer Range) Worldliner airplane. To date, Air India has received 14 airplanes from its December 2005 order, including three 777-200LRs (Longer Range) and one 777-300ER, and 10 737-800s for Air India Express. Oct 10, 2007

Japan's All Nippon Airways, which placed the first order for the composite aircraft, for 50 Boeing 787s, in July 2004, is a key Boeing 787 customer and will be affected by the aircraft's delivery delays. Other large customers include International Lease Finance Corporation, Qantas Airways, Air Canada, Japan Airlines, Air India and Continental Airlines. Oct 11, 2007

AWAS delivered the second of four Boeing 767-300ERs to Gol this week. Aircraft will be operated by VRG Linheas Aereas, the new Varig that now is a Gol subsidiary. Two further 767s will be delivered over the next six months. AWAS also finalized the acquisition of an A321 to Livingston S.p.a. from Bank of China Aviation. Livingston is the Italian leisure carrier owned by Ventaglio Group, AWAS said. Oct 11, 2007

Boeing's 787 skeptics had a point: For some time now, the skeptics have been saying that Boeing's 787 Dreamliner could not possibly be delivered on time. It turns out they were right, Boeing has announced that initial deliveries will be delayed by six months. The jet manufacturer's stock fell 3%, a significant drop, but small enough to signal general investor confidence in the company. Oct 12, 2007

Airlines' big plans interrupted by Dreamliner delay: Production delays that have forced Boeing to put off delivery of its much-anticipated Dreamliner jet will have an impact on airlines that were counting on on-time delivery. In particular, Nippon Airways had planned to take advantage of the Olympic Games in Beijing to showcase its status as the first airline to fly the new jet. Oct 11, 2007

Boeing Dreamliner delayed for six months. Citing delivery delays that held up production and unforeseen problems with flight control software, Boeing announced Oct. 10 that its 787 Dreamliner jets would be delivered six months later than anticipated. "We are very disappointed over the schedule changes that we are announcing today," said Boeing CEO W. James McNerney Jr. Airbus' A380 superjumbo has suffered the same fate with multiple delays in 2006 and 2007. Oct 11, 2007

Boeing on Oct. 10 pushed back first deliveries of its 787 by at least six months to late November or December 2008 as it struggles to assemble the new lightweight, carbon-composite plane. The delay is an embarrassing setback for Boeing, which has for months insisted it would meet its delivery timetable despite production problems, and mirrors delays suffered by rival Airbus on its A380 superjumbo. As recently as last Oct. 8, Boeing's Commercial Airplanes Vice President, Randy Tinseth, said on a visit to Sydney that the original timetable was still achievable. Oct 11, 2007

Boeing's announcement that first deliveries of its 787 Dreamliner will be delayed by at least six months will affect a number of corporations across the world. As plane deliveries are moved back, suppliers may find revenues from parts it sells to Boeing are shifted backward. Airlines may have problems finding replacement aircraft while waiting for 787s...

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