How has Boeing done under Jim McNerney

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This content was published on April 27, 2011 - 4:07 pm

CHICAGO (awp international) - The reluctance of the airlines during the economic crisis is still a problem for the US aircraft manufacturer Boeing. Because many airlines had refrained from placing new orders or canceled existing orders, consolidated sales fell by 2 percent in the first quarter of 2011 to $ 14.9 billion (EUR 10.2 billion). The number of machines delivered fell from 108 in the same period of the previous year to 104.
However, Boeing also suffered from homemade problems. The Airbus arch-rival had to postpone the delivery of the medium-sized long-haul aircraft 787 "Dreamliner" and the modernized jumbo jet 747-8 several times due to technical obstacles. The planes should finally come this year. The last test flights are currently underway. The tests made significant progress, said CEO Jim McNerney on Wednesday.
"We have made a good start to a year that is important for our company," assured McNerney at the company headquarters in Chicago. Indeed, the order increased again. In the first quarter alone, orders were worth over $ 23 billion, which means that orders for aircraft, defense equipment and space technology are now on the books for $ 329 billion. However, as is customary in the industry, many of the orders have a lead time of several years.
In the first quarter, Boeing was able to improve its profit only thanks to a lower tax burden by 13 percent to a bottom line of 586 million dollars. For the year as a whole, CEO McNerney continues to expect up to 15 percent less profit. In addition to the costs for the new models, higher expenses for pensions also have a negative impact. On the other hand, McNerney expects sales to rise thanks to the new orders. In the year as a whole, 485 to 500 machines are expected to leave the factory.
The best seller is and remains the 737 series. The short and medium-haul flights are comparatively cheap and are considered to be technically mature. The counterpart at Airbus is the A320 family. However, an accident has clouded confidence in the Boeing aircraft. The group is currently discussing whether the series will be modernized again or replaced by a successor.
On April 1, a 15-year-old Boeing 737-300 of the US low-cost carrier Southwest had to make an emergency landing after a hole in the roof opened with a loud bang. Miraculously, none of the 123 inmates were seriously injured. Southwest then checked all similar machines and found tiny cracks in the outer hull of a total of five older 737 jets. First research results from government agencies indicate sloppiness in production.
The armaments and space technology business once again proved to be a stable anchor in the first quarter. The division was able to keep its sales at the level of the same period in the previous year. Among other things, Boeing manufactures fighter jets and unmanned drones. In the long term, however, there is a risk of cuts because the US military and the NASA space agency have to save.
In all fields, Boeing competes with its European competitor EADS, the parent company of Airbus. EADS is pushing with all its might into business with the US Army, which until now has been largely reserved for US companies. In the end, however, EADS had to cope with a severe setback: the "order of the century" for new tanker aircraft went to Boeing./das/DP/edh after years of hacking

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