Boeing delays 787 by three more months

(Reuters) - Boeing Co (BA.N: Quote, Profile, Research) said on Wednesday it would push back first test flight and deliveries of its 787 Dreamliner by about three months, as it struggles with production of the new, carbon-fiber airplane.

The delay is the second major setback for the program in three months, after announcing a six-month delay in October.

Only a month ago Boeing's commercial airplane chief assured Wall Street that the plane was on track to meet its revised schedule.

Boeing said on Wednesday the first test flight of the plane would now take place around the end of the second quarter, compared with its previous target of near the end of March.

First deliveries of the plane are now scheduled for early 2009, rather than its previous estimate of late November or December this year.

Chicago-based Boeing said the new delay would not have a significant effect on 2008 results, but it would update its financial forecasts for this year when it reports quarterly earnings on January 30.

It plans to provide financial forecasts for 2009 when it reports first-quarter earnings at the end of April. The new delay is likely to have a greater impact on 2009, as that is when deliveries of the 787 are now scheduled to start.

 

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