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Boeing announces US$3.9 billion net profit, stands by 787

written by WOFA | January 31, 2013

Away from 787 woes, Boeing remains upbeat about the 747-8's performance, a fact highlighted during the company's annual results announcement. (Boeing)

The Boeing Company has announced a reduced net profit of US$3.9 billion in 2012 compared with the previous year’s US$4.02 billion, despite an 18.9 per cent rise in revenue to US$81.7 billion. The reduced margin was attributable to increased tax liabilities.

Boeing Commercial received net orders worth US$70 billion during 2012, bringing to US$319 billion its total order backlog for some 4,400 aircraft.  Boeing Defense received orders valued at US$44 billion during the year.

While announcing the annual results, Boeing chairman and CEO Jim McNerney said the company continues production of the 787 but has suspended deliveries of the aircraft pending the outcome of the current series of investigations by the NTSB and other airworthiness authorities.

“For 2013 our first order of business obviously is getting the 787 back in service,” McNerney said.

“Job one on the 787 is supporting the investigations underway on the two battery incidents that occurred earlier this month.  We do believe good progress is being made in narrowing down the potential cause of the events,” McNerney said, adding he saw no reason to change the decision to use the lithium-ion batteries at the centre of investigations.

“Nothing we’ve learned has told us that we have made the wrong decision on the battery technology.  We feel good about the battery technology and its fit for the airplane.”

McNerney remained upbeat about sustained production of the 787, saying it’s “business as usual.  Let’s keep building airplanes and then let’s ramp up as we planned.”


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