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Boeing profit drops, sees no significant impact from 787 in 2013

Models of Boeing 747 and 777 passenger planes are displayed at the Boeing booth as part of the China International Aviation & Aerospace Exhibition in Zhuhai in this file photo of November 12, 2012. Boeing Co reported profit dipped in the fourth quarter from a year earlier. – Reuters picModels of Boeing 747 and 777 passenger planes are displayed at the Boeing booth as part of the China International Aviation & Aerospace Exhibition in Zhuhai in this file photo of November 12, 2012. Boeing Co reported profit dipped in the fourth quarter from a year earlier. – Reuters picNEW YORK, Jan 30 – Boeing Co reported profit dipped in the fourth quarter from a year earlier, and said its 2013 forecast “assumes no significant financial impact” from the grounding of its 787 Dreamliner passenger jet by regulators.

Earnings at the aerospace and defence company fell to US$1.28 a share from US$1.32 a year ago, excluding a special tax gain, it said today, but results beat estimates of US$1.19 a share. Revenue for the quarter rose 14 per cent to US$22.3 billion (RM68.75 billion).

Aviation safety agencies in the United States and Japan are investigating what caused lithium-ion batteries to burn on two 787 jets earlier this month, prompting regulators to ground the planes worldwide.

Boeing said it is continuing to build the Dreamliner, but has halted deliveries, and analysts have raised concerns about the cost of the grounding and fixing the battery problem on about 125 jets that Boeing has built so far. – Reuters

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