Boeing earned a net profit of $923 million in the first quarter, up 58% over $586 million in net income in the prior-year period, on a 30% jump in revenue to $19.38 billion.
“Airline industry fundamentals remain intact,” chairman, president and CEO Jim McNerney told analysts and reporters. “Global demand for commercial airplanes is strong and growing. Passenger demand remains resilient. Cargo [traffic] remains below long-term trends but it appears this market is stabilizing and should improve in the second half of the year.”
Boeing Commercial Airplanes’ first-quarter operating profit more than doubled year-over-year to $1.08 billion from $509 million in the 2011 March period. The unit’s first-quarter revenue rose 54% to $10.94 billion as commercial aircraft deliveries increased 32% to 137. It booked 412 net orders during the quarter, including 301 firm orders for the 737 MAX. Backlog at quarter’s end stood at more than 4,000 aircraft valued at $308 billion.
McNerney said the combination of rising passenger demand and rising fuel costs means airlines need more aircraft yet are interested only in the most fuel-efficient models, which “positions us exceptionally well for the future.”
Article Source : ATW Daily News
No comments:
Post a Comment