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Boeing weathers Dreamliner crisis, reports 20% Q1 profit
- USA: Thursday, April 25 - 2013 at 06:07
Boeing Co has said its first-quarter earnings jumped nearly 20%, showing little impact from the 787 Dreamliner problems, Reuters has reported. First-quarter net income rose to $1.1bn from $923m a year earlier. The cost of analysing the problem, redesigning the battery system, testing it and retrofitting the 50 grounded Dreamliners was absorbed in large part by shifting resources around the company, CFO Greg Smith said. Boeing CEO Jim McNerney said Boeing expects to begin delivering 787s again in early May, now that the battery redesign has FAA approval, and will finish modifying all 50 customer jets by mid-May.
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