Boeing cuts production

Tuesday, July 13, 2021 | The Associated Press


In this Oct. 28, 2020 file photo, a motorcyclist cruises past the Renton, Wash., Boeing plant where 737's are built. Boeing is temporarily lowering its delivery target for the 787 Dreamliner after discovering additional work that will need to be performed on the aircraft. The company said Tuesday, July 13, 2021, that the 787 production rate will temporarily be lower than five per month and will gradually return to that rate. (Ellen M. Banner/The Seattle Times via AP, File)

CHICAGO (AP) — Boeing will cut production of its large 787 aircraft after a structural flaw was discovered in some undelivered planes.

The production rate for the 787, which it calls the Dreamliner, will fall below five per month and the Chicago company said Tuesday that it now anticipates that it will deliver less than half of the 787s remaining in its inventory this year.

“We will continue to take the necessary time to ensure Boeing airplanes meet the highest quality prior to delivery," the company said in a prepared statement. “Across the enterprise, our teams remain focused on safety and integrity as we drive stability, first-time quality and productivity in our operations.”

Shares are down more than 2% before the opening bell.

Boeing delivered 12 of the 787s in the second quarter. It has delivered 14 for the year to date.

In May members of Congress sought records from Boeing and the Federal Aviation Authority about production problems on the 787 and the 737 Max.

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
The Boeing (BA)2.1$226.63-1.1%N/A-14.75Buy$259.98
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