Boeing then said that the new schedule reflects the previously announced need to reinforce an area within the side-of-body section of the aircraft, along with the addition of several weeks of schedule margin to reduce flight test and certification risk. The company also said that the initial flight-test airplanes have no commercial market value, and therefore, it would incur a pre-tax charge of $2.5 billion, or $2.21 per share, in the third quarter.
The company today said that it expects approximately 31% tax benefit in the third quarter related to the 747 charge and the previously announced 787 charge. The full-year tax benefit for both charges is expected to be approximately 37%.
In a separate announcement, the company said that it delivered 113 commercial airplanes in the third quarter. In the year-ago third quarter, the company's deliveries were 84 planes. The 2009 third quarter deliveries include 90 737 Next Generation airplanes, four 767s and nineteen 777s. For the year-to-date period, the company's commercial airplanes deliveries totaled 359.
Under the Integrated Defense Systems Programs, Boeing delivered 7 Apache (New Builds), 3 Chinook (New Builds), five C-17s, four F-15s and thirteen F/A-18E/F and EA-18Gs. The company also delivered two Satellites (Government & Commercial) and two T-45TS.
Tuesday 6 October 2009
Boeing Delays 747-8 Freighter Launch; Sees $1 Bln Charge In Q3 - Update
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