2nd UPDATE: Boeing 787 Wins Regulatory Approval, Delivery Date Set
August 26 2011 - 2:04PM
Dow Jones News
Boeing Co. (BA) on Friday received final approval from U.S. and
European regulators for the delayed 787 Dreamliner to enter
commercial service, with launch customer All Nippon Airways Co.
(9202.TO) set to receive its first plane Sept. 26.
The announcement ends a 40-month wait for the new widebody plane
after a series of production and design delays. ANA plans to fly
its first jet from Boeing's plant in Everett, Wash., on Sept. 27,
arriving in Tokyo the next day.
ANA had been due to receive its first 787 in May 2008, having
launched the program with a 50-plane order--later increased to
55--in April 2004. Boeing has been forced to compensate customers
for its late arrival, raising question marks over the profitability
of the program.
The first delivery to ANA will trigger the release by Boeing of
the accounting treatment for the 787 program with its third-quarter
results in October. The company has said the 787 remains
profitable, though analysts expect it to lose money on the first
few hundred planes. It has firm orders for more than 800.
The Japanese airline expects to receive 11 more 787s by the end
of March, followed by another eight in the next fiscal year through
March 2013.
The plane received its final approval from the U.S. Federal
Aviation Administration and the European Aviation Safety Agency at
a ceremony in Everett.
Boeing's new 747-8F, a revamped cargo version of its jumbo jet
that was also behind schedule, received FAA approval last week.
-By Hiroyuki Kachi and Doug Cameron, Dow Jones Newswires;
813-6269-2789; Hiroyuki.Kachi@dowjones.com
ANA (PK) (USOTC:ALNPY)
Historical Stock Chart
From Jun 2024 to Jul 2024
ANA (PK) (USOTC:ALNPY)
Historical Stock Chart
From Jul 2023 to Jul 2024