Boeing Shares Gain after Delivery of First Dreamliner (BA)

Boeing Company (NYSE: BA) shares are rising in trading today after the aircraft manufacturer delivered the first 787 Dreamliner. Boeing shares rose to an intra-day high of $62 before retreating. At last check, Boeing shares were trading 2.66% higher at $61.09 on volume of 3.48 million.

Boeing announced that it signed formal documents with All Nippon Airways (ANA), completing the contractual delivery of the first Dreamliner. The company described the delivery of the first Dreamliner as a historic milestone. The delivery of the first Dreamliner comes after almost a decade of development of the world’s most advanced jetliner.

The 787 Dreamliner promises 20% fuel savings for airline. Scott Fancher, Vice President and General Manager of the 787 Program at Boeing, said that now that the airplane is ready to deliver, the entire team is ready to celebrate. Fancher also said that the company looks forward to honoring its launch customer ANA before they fly their first Dreamliner to Japan.

The delivery ceremony for the Dreamliner will take place at Boeing’s Everett wide-body production facility.
Meanwhile, ANA said that it is confident about Boeing’s ability to build the rest of the fleet on time. Boeing has to deliver 12 airplanes by end of March 2012 and another 8 in the following 12 months. However, the company has seen seven delays already and must ramp up production to meet the deadline.

Boeing also announced today that along with the U.S. Navy, it has delivered a proposal to the government of Japan offering the advanced F/A-18E Super Hornet Block 2 to become the Japan Air Self Defense Force’s next premier fighter aircraft.

Mike Denton, President of Boeing Japan, said that the Super Hornet is the world’s most advanced multirole fighter and its selection would provide the Japan Air Self Defense Force with new, unprecedented capability. Denton further said that the Super Hornet can provide the Japanese government with guaranteed pricing and a guaranteed delivery timeline, while equipping the JASDF with superior multirole capability for the defense of Japan.

Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.