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Boeing wins $2.1 billion contract for 16 more P-8 spy planes

WASHINGTON (Reuters) - Boeing Co <BA.N> has been awarded a $2.1 billion contract to build 16 P-8A Poseidon long-range maritime spy planes for the U.S. Navy, the U.S. Defense Department announced on Tuesday. Boeing, the Pentagon's No. 2 supplier, said the contract was worth $2.4 billion in total, including funds awarded earlier for materials that take longer to procure. The order was approved as part of the Navy's budget for fiscal 2014.

KAI wins 730 bln won deal to build wing parts for B787

SEOUL, Feb. 21 (Yonhap) -- Korea Aerospace Industries Ltd. (KAI), the country's sole aircraft manufacturer, said Friday it secured a 730 billion won (US$680.1 million) order to build the main wing parts for Boeing's popular B787 Dreamliner passenger jets. The deal is an extension of orders secured by the company in 2005 and calls for the delivery of main wing structures for 1,000 planes starting this year and running until 2021.

Boeing picks Everett, Wash. as site to build new 777X wings

EVERETT, Wash. - Boeing says that it has picked Everett, Wash., as the site to build wings for its new 777X aircraft. The company said Tuesday that the wing centre will be located north of its Everett factory and sustain thousands of area jobs in the years to come. Construction on the new facility is scheduled to begin later this year.

Boeing to place new 777x wing factory near jet's assembly site

NEW YORK (Reuters) - Boeing Co said it would locate a new factory for building the wings of its forthcoming 777X jet in Everett, Washington, where it currently builds 777 jetliners. The decision, though widely expected, nevertheless confirms the aerospace giant's plan to build the carbon-composite wing close to where the full jet will be assembled. It marks a departure from the large-scale outsourcing to overseas suppliers that caused significant delay on Boeing's 787 jet.

Boeing struggles with 787 production bottlenecks

By Alwyn Scott and Harriet McLeod SEATTLE/NORTH CHARLESTON, South Carolina (Reuters) - A 787 that rolled out of Boeing's factory in Everett, Washington, in January was hailed as an important milestone: the first Dreamliner built at a rate of 10 a month, the fastest for a twin-aisle jet.

Boeing sees 'tough' defense business climate, flat margins

By Alwyn Scott (Reuters) - Boeing Co <BA.N> expects its defense business to continue facing a tough environment with "flatish" profit margins, Chief Executive Jim McNerney said on Wednesday. A recent federal government budget deal has pushed off automatic spending cuts known as sequestration by two years, but "sequestration has not gone away," McNerney said at a Cowen & Co investment conference.

Boeing sees no bubble in 737 jetliner market

SEATTLE (Reuters) - Boeing Co <BA.N> said on Tuesday it sees no bubble in the market for 737 jetliners and that production could go to 60 a month at the current factory in Renton, Washington, though it was not clear it would go that high. Beverly Wyse, the 737 program manager, told reporters the factory plans to step up production at the factory to 42 per month in the second quarter of 2014 and may go to 52 per month in 2018 or 2019, but that the company was still studying that possibility. (Reporting by Alwyn Scott)

Boeing 4Q profit rises on strong demand for planes; deliveries to rise 10 per cent this year

Boeing's fourth-quarter profit rose 26 per cent as it delivered more commercial airplanes — a speedup that it says will continue this year. However, Boeing shares dropped in premarket trading Wednesday after it said 2014 revenue and profit would be lower than analysts have been expecting. Boeing finished 2013 with a fourth-quarter profit of $1.23 billion, or $1.61 per share, well ahead of the expectation of analysts surveyed by FactSet. Profits grew in both its commercial airplane and defence businesses. Revenue rose 7 per cent to $23.79 billion.

Boeing profits surge but tougher 2014 awaits

US aerospace giant Boeing Wednesday reported a big jump in quarterly earnings, but signaled a leaner 2014 profit outlook after last year's boom. Boeing's fourth quarter ended on a high note, with the company achieving record annual commercial aircraft deliveries on its way to notching a 26.1 percent rise in profits compared with the year-ago period. But Boeing's 2014 earnings forecast pointed to headwinds in both its commercial and defense divisions.

Despite weak forecast, Boeing to top target on cash to shareholders

NEW YORK (Reuters) - Boeing Co <BA.N> expects to return cash to shareholders in excess of its target this year, despite its forecast for 2014 cash generation that was below analysts' expectations. Chief Financial Officer Greg Smith said Boeing expects to exceed the target range of returning 80 percent to 85 percent of cash to shareholders in 2014. Boeing forecast operating cash flow of $6.25 billion in 2014. Some analysts had estimated as much as $9 billion.
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