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Sunday, September 9, 2012

Boeing's Q2 profit up on rising plane deliveries

Boeing Co reported an increase in second-quarter profit on Wednesday as rising airplane deliveries offset higher pension costs.

The plane maker and defence contractor reported a profit of $967m compared with $941m in the year-ago quarter.

Sales rose 21 percent to $20bn, boosted by commercial aircraft sales.

"Increased revenues and strong operating performance across both our major businesses drove significantly improved first-half 2012 results for Boeing," said chairman, president and CEO Jim McNerney. 

"Commercial airplane deliveries increased 27 percent in the second quarter, and our defence, space and security business also produced higher revenues and strong margins in a difficult market environment.  

"As a result of this solid first-half performance, we have strengthened our outlook for the year, and our people remain focused on disciplined execution, quality and productivity, and meeting customer commitments," McNerney added.

In June, Boeing delivered the last of six transporter aircraft to the UAE military as part of an agreement signed in early 2010.

The US firm handed over the last of the promised C-17 Globemaster III airlifters to the UAE Air Force and Air Defence earlier in June at an assembly facility in California.

The craft are used for strategic airlift of troops and cargo between military bases, in addition to medical evacuation and airdrop missions.

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