An analysis of Boeing company for Finance class. Designed to feel like a professional stock review including industry trends, catalysts, and potential growth using a FCF model.
Catalyst Corporate Finance & Ricardo Composites report Spring 2013Emma Dowson
Demand for composite material is forecast to double by 2015. Improved fuel efficiency and demand for high-strength lightweight material is increasing the penetration of composites in multiple sectors. This is supporting record levels of M&A
Catalyst Corporate Finance Brazil Oil and Gas 2013Emma Dowson
Recent major oil & gas discoveries in Brazil’s offshore deepwater fields will move the country into the top five producers globally by 2020. Exploration auctions in 2013 will boost M&A activity as international corporates across the supply chain position themselves to benefit from the associated investment.
Boeing has faced many difficulties in 2001, including a downturn in the aviation industry after 9/11 that led to layoffs and production cuts. However, analysts say Boeing's commitment to diversifying away from commercial aviation into defense, satellites, and services through acquisitions will help insulate it from downturns. Boeing is also pursuing emerging areas like aircraft financing, in-flight internet services, and air traffic management to boost its success going forward.
- The document presents an investment thesis for Greenbrier Companies stock, arguing that its strong financial position and efforts to diversify will enable it to remain profitable despite challenges in the railroad industry.
- While depressed oil prices have hurt the industry, Greenbrier has maintained a strong balance sheet and is diversifying its product base and international revenue. Its backlog is mostly non-energy related.
- However, the company is still dependent on the US market and oil shipments by rail present risks if economic conditions change or international negotiations impact oil prices and production. Greenbrier must outperform its struggling industry to justify its higher valuation.
In this presentation there is analysis for Boeing, history, sales, supply side analysis, Commercial Aircraft Demand Determinants, Market Drivers, Order Comparison, Delivery Comparison, Current Strategy
Khan Mohd Eshtiaque, is currently a Masters in Management student at IE Business School. Previously, he interned as an M&A summer analyst at BDO's corporate finance division in Dubai, where he worked in deals in a variety of sectors including, natural resources, healthcare, facilities management, technology, real estate, utilities and agribusiness. Prior to that, Eshtiaque interned at the Private Banking department of HSBC.
This document provides a marketing plan for Boeing. It begins with an introduction to Boeing's history and business units. It then discusses Boeing's values, vision, and goals. A situational analysis is presented, including a SWOT analysis. Boeing's main target segments are identified as corporate clients, particularly airline companies, and defense/government contractors. Corporate clients are segmented geographically, demographically, behaviorally, and psychographically. Defense/government contractors are segmented geographically and demographically. The document proposes strategies for each target segment.
Catalyst Corporate Finance & Ricardo Composites report Spring 2013Emma Dowson
Demand for composite material is forecast to double by 2015. Improved fuel efficiency and demand for high-strength lightweight material is increasing the penetration of composites in multiple sectors. This is supporting record levels of M&A
Catalyst Corporate Finance Brazil Oil and Gas 2013Emma Dowson
Recent major oil & gas discoveries in Brazil’s offshore deepwater fields will move the country into the top five producers globally by 2020. Exploration auctions in 2013 will boost M&A activity as international corporates across the supply chain position themselves to benefit from the associated investment.
Boeing has faced many difficulties in 2001, including a downturn in the aviation industry after 9/11 that led to layoffs and production cuts. However, analysts say Boeing's commitment to diversifying away from commercial aviation into defense, satellites, and services through acquisitions will help insulate it from downturns. Boeing is also pursuing emerging areas like aircraft financing, in-flight internet services, and air traffic management to boost its success going forward.
- The document presents an investment thesis for Greenbrier Companies stock, arguing that its strong financial position and efforts to diversify will enable it to remain profitable despite challenges in the railroad industry.
- While depressed oil prices have hurt the industry, Greenbrier has maintained a strong balance sheet and is diversifying its product base and international revenue. Its backlog is mostly non-energy related.
- However, the company is still dependent on the US market and oil shipments by rail present risks if economic conditions change or international negotiations impact oil prices and production. Greenbrier must outperform its struggling industry to justify its higher valuation.
In this presentation there is analysis for Boeing, history, sales, supply side analysis, Commercial Aircraft Demand Determinants, Market Drivers, Order Comparison, Delivery Comparison, Current Strategy
Khan Mohd Eshtiaque, is currently a Masters in Management student at IE Business School. Previously, he interned as an M&A summer analyst at BDO's corporate finance division in Dubai, where he worked in deals in a variety of sectors including, natural resources, healthcare, facilities management, technology, real estate, utilities and agribusiness. Prior to that, Eshtiaque interned at the Private Banking department of HSBC.
This document provides a marketing plan for Boeing. It begins with an introduction to Boeing's history and business units. It then discusses Boeing's values, vision, and goals. A situational analysis is presented, including a SWOT analysis. Boeing's main target segments are identified as corporate clients, particularly airline companies, and defense/government contractors. Corporate clients are segmented geographically, demographically, behaviorally, and psychographically. Defense/government contractors are segmented geographically and demographically. The document proposes strategies for each target segment.
Boeing is the world's largest aerospace company founded in 1916. It operates commercial and military aircraft and defense systems. Boeing employs over 158,000 people globally and is a leading U.S. exporter. It has two main business sectors, Commercial Airplanes and Integrated Defense Systems, and operates through five principal segments. Boeing faces challenges from the global economic slowdown and changes in defense budgets but maintains a strong order backlog and focus on innovation.
1-2 pages of five supply chain lessons learned from the Bo.pdfConceptcreations1
1-2 pages of five supply chain lessons learned from the Boeing case. Each lesson can be in a
short paragraph.
Managing New Product Development and Supply Chain Risks: The Boeing 787 Case The 787
Dreamliner's unconventional supply chain To reduce the 787's development time from six to four
years and development cost from $10 to $6 billion, Boeing decided to develop and produce the
Dreamliner by using an unconventional supply chain new to the aircraft manufacturing industry.
The 787s supply chain was envisioned to keep manufacturing and assembly costs low, while
spreading the financial risks of development to Boeing's suppliers. Unlike the 737s supply chain,
which requires Boeing to play the traditional role of a key manufacturer who assembles different
parts and subsystems produced by thousands of suppliers (Figure 3 ), the 787's supply chain is
based on a tiered structure that would allow Boeing to foster partnerships with approximately 50
tier-1 strategic partners. These strategic partners serve as "integrators" who assemble different
parts and subsystems produced by tier-2 suppliers (Figure 4). The 787 supply chain depicted in
Figure 4 resembles Toyota's supply chain, which has enabled Toyota to develop new cars with
shorter development cycle times Figure 4 Redesigned supply chain for the Dreamliner program
Table 3 Comparison of Boeing's strategy for its 737 and 787 programs
Managing New Product Development and Supply Chain Risks: The Boeing 787 Case
Christopher S. Tang and Joshua D. Zimmerman UCLA Anderson Schood
ctangearnderson.uda.edu joshua zimmerman.20096anderson.uda.edu Commented by James I.
Nelson M.S. MBCP, CORP Business Continuity Services To stimulate revenue growth and
market response, Boeing decided to develop the 787 Dreamliner. The 787 Dreamliner is not only
a revolutionary aircraft, but it also utilizes an unconventional supply chain intended to drastically
reduce development cost and time. However, despite significant management efforts and capital
investment, Boeing is currently facing a series of delays in its schedule for the maiden flight and
plane delivery to customers. This paper analyzes Boeing's rationale for the 787's unconventional
supply chain, describes Boeing's challenges for managing this supply chain, and highlights some
key lessons for other manufacturers to consider when designing their supply chains for new
product development. Acknowiedyments: We uould like to thank Wiliam Schmidt of the Hartard
Business School and ane anonymous reviewer for their constructive comments an an earlier
version of this paper. Introduction Since the U.S. government deregulated air travel in 1977 ,
more airlines have entered the market causing fierce price competition. As airfares continued to
decline, the total number of U.S. passengers per year has risen from approximately 240 million
to 640 million from 1977 to 1999. At the same time, U.S. commercial aircraft manufacturers
have faced major competition from European companies..
Boeing and Airbus are the two dominant manufacturers in the global aircraft industry. While Boeing currently has a larger market share and generated higher revenues in the first half of 2015, Airbus has received more net orders so far in 2015 with 815 orders compared to Boeing's 447. Both companies are taking steps to grow their presence in important markets - Boeing is developing its first aircraft assembly facility in China, while Airbus opened a new facility in the US. However, Airbus faces pressure to meet its deadline to deliver the first A320neo aircraft by the end of 2015 after engine problems caused further delays in testing. Overall, while Boeing's financial performance has improved, Airbus has a larger backlog of orders that will support
This document provides a case study on lessons learned from Boeing's 787 Dreamliner project. Key points:
- Boeing significantly increased outsourcing for the 787 to 70% in an attempt to reduce costs and risks, utilizing a novel multi-tier supply chain model. This led to underestimating integration costs and losing control over key technologies.
- Major delays occurred, with the first 787 delivery over 2 years late. Issues with lithium batteries also grounded the 787 fleet temporarily in 2013.
- Nine lessons are identified, including the need for accurate cost estimation considering all costs, assembling a management team with supply chain expertise, and proactively managing labor union relationships. Outsourcing too
The document provides an agenda and overview of Boeing, including:
- Boeing's divisions and key products in commercial aircrafts and defense segments.
- Financial highlights like 2010 revenue of $64.3 billion and net income of $3.3 billion.
- Management discussion of lower 2010 revenue and higher operating earnings.
- Industry drivers of air travel growth and aerospace market value forecast.
- Competitive analysis shows Boeing is largest player and competes primarily with Lockheed Martin, BAE Systems.
Sampling of Current LCC IssuesImprovements in the NewsCom.docxjeffsrosalyn
Sampling of Current LCC Issues/Improvements in the News
Commercial Airliner Aircraft - (Recent News Briefs in AIAA Morning Launch)
· Boeing Plans to Cut Up to 8000 jobs from Commercial Aircraft Division
· Boeing 737 Accelerated Assembly Automation
· Boeing Changing Supplier Terms Amid Cost Cutting Efforts
· Low Oil Prices Improving Airline Revenue Outlook
· American Airline Tops Profit Estimates, Defers Aircraft Deliveries
· Southwest Airline Delays Delivery of Boeing 737-Max Aircraft
· Boeing 737-Max & 777X 2018 Status
· Bombardier Delivers First C Series Jetliner - Challenge to Boeing & Airbus
· Airbus Cuts Production Rate of A380 Super Jumbo Airliners
· Airbus $1.5 Billion Loss From A350 & A400M Development Issues
Boeing plans to cut up to 8,000 airplane jobs: sources | Reuters
www.reuters.com/article/us-boeing-redundancies-idUSKCN0WW0AF
Mar 30, 2016 - Boeing Co plans to cut up to 8000 jobs this year at its commercial ... about 1,600 through voluntary layoffs and 2,400 by leaving open positions ...
Boeing Rolling Out Accelerated Assembly Automation At 737 Factory.
Reuters (6/17) reported that Boeing is debuting the Spar Assembly Line (SAL) at its 737 manufacturing plant in Renlon, Washington, “adding a new robotic system to drill holes in the main beams inside each wing known as spars, industry sources said.” According to the article, the roll out of the new systems bolsters Boeing’s headway into automation “as it prepares to boost output of its best-selling airliner, while also preparing the ground work for future aircraft that will be designed with radical new manufacturing methods in mind.” The aircraft manufacturer “says greater automation will cut the amount of ‘rework’ caused by production glitches, reduce injuries and support sharp increases in output at factories.”
Boeing Changes Payment, Inventory Terms With Suppliers Amid Cost Cutting Efforts.
Reuters (7/7) reports that Boeing has ramped up its efforts to “conserve cash, cut costs in its supply chain and trim inventory of parts in its factories,” informing suppliers that it will take up to 120 days to pay for its expenses, “rather than 30 days as in the past.” According to sources close to the matter, Boeing is introducing the new payment scheme this year. In addition, the source said that the company is also decreasing its overall factory inventory and is relying on suppliers to store parts and equipment. Confirming the reported changes in a statement to Reuters, Boeing spokeswoman Jessica Kowal said that in order to stay competitive, “we are in the process of adjusting the payment terms of our large suppliers,” adding that “our new payment terms are in line with their payment schedules to their own suppliers.”
Low Oil Prices Fueling Airline Revenue Outlook, IATA Says.
USA Today (6/2) reports that according to new data released on Thursday by the International Air Transport Association (IATA), carriers worldwide are expected to generate a total of $3.
Boeing formed strategic partnerships with 27 companies across multiple countries to build its new 787 Dreamliner aircraft. This was intended to reduce Boeing's financial risk but resulted in major delays and issues. Problems arose due to lack of coordination between partners, cultural differences, and Boeing asking suppliers to design their own parts without clear specifications. While intended to cut costs and development time, the partnerships ended up increasing Boeing's costs and led to a three year delay in delivering planes. However, Boeing is moving forward with the 787 which offers fuel efficiency advantages attractive to airlines, and has introduced larger 787 models that may lead to future profitability.
Key Challenges for the European Aerospace SuppliersEric Ciampi
The document discusses three main challenges facing European aerospace suppliers over the next decade: 1) Developing robust and agile supply chains to keep up with growing demand and complexity, 2) Extending their manufacturing and engineering footprints to more global supply chains, and 3) Taking on more innovation and technology development work for OEMs. It provides examples of how suppliers are responding through consolidation, risk sharing with OEMs, and expanding internationally. OEMs are also pushing suppliers to rationalize their supply bases and improve quality and delivery.
This document provides an overview and analysis of the 2013 financial performance of the top 100 aerospace companies based on a report compiled by PwC. Some key points:
- The aerospace industry has experienced steady revenue growth averaging 5.6% annually since 2005 and over 5% growth in 2013, with anecdotal evidence that the industry is thriving.
- Boeing maintained the top spot with record revenue and profits in 2013, while Airbus also saw profits rise substantially though revenue growth lagged Boeing's.
- Western defense budget cuts have impacted companies like Lockheed Martin and Northrop Grumman but profits generally held steady as they diversified into commercial aerospace.
- Civil aviation continues to power
Boeing is the world's largest aerospace company and second largest defense contractor. It generates over $60 billion in annual revenue from commercial airliners, military aircraft, weapons, space systems, and other services. Boeing competes with Airbus, Lockheed Martin, and European Aeronautic Defence and Space Company in commercial and defense markets. It aims to leverage its expertise in aerospace to develop new products and services through strategies outlined in its "Vision 2016" plan.
Boeing is the world's largest aerospace company and second largest defense contractor. It generates over $60 billion in annual revenue from commercial airliners, military aircraft, rockets, satellites and other products. Boeing competes with Airbus, Lockheed Martin and EADS in both commercial and defense markets. The commercial aircraft industry has high barriers to entry due to large capital requirements, long development cycles and product risks. Boeing aims to leverage its strengths in engineering and customer relationships into new aerospace products and services.
The document provides an outlook on the global aerospace and defense industry in 2012. It finds that the commercial aircraft industry is expected to continue growing due to increasing orders and production, while parts of the defense industry may decline due to decreased military spending, particularly in the US and Europe. Overall, the financial performance of top aerospace and defense companies is projected to be similar to 2011. The document also discusses trends in commercial aircraft production, air traffic control modernization, global defense spending, business jets, and regional outlooks.
Boeing is a major aerospace company with commercial, defense, and space divisions. It faces competition from Airbus and other companies in commercial and defense markets. Some key risks Boeing faces include declining commercial aircraft demand following events like 9/11, increasing competition from Airbus, environmental risks, and legal risks from lawsuits.
More Information @ https://bit.ly/2zPAtoo
Adoption of methods to reduce aircraft weight and enhance fuel efficiency will drive aerospace floor panels market during forecast period.
The aerospace industry was worth $838 billion globally in 2017, with commercial aircraft production making up 61% of the industry at $180.3 billion. In 2018, the value of new commercial aircraft was projected to be $270.4 billion. The document then provides details on key players in the commercial aerospace industry such as Boeing, Airbus, and Embraer. It discusses factors affecting the industry and provides a history of Boeing, including impacts from the Boeing 737 MAX issues, such as significant losses, undelivered orders, and effects on suppliers. Finally, it outlines actions Boeing is taking to address the 737 MAX issues through software updates, training improvements, and global outreach.
2015 Flight Global and PwC Top 100 Aerospace CompaniesDouglas Burdett
The document discusses the annual Top 100 analysis of the aerospace industry by Flight International and PwC. It finds that 2014 was another boom year for the industry, with all-time sales records and double-digit growth. However, the coming period may present more challenges due to economic uncertainties in countries like Brazil, India, Russia, and potentially China. Even so, the industry would still be in strong shape even if half of the large aircraft order books were canceled. The analysis provides details on the financial performance and position of the top 20 companies in the industry.
Airbus Analysis Essay provides a detailed analysis of Airbus using several analytical tools including PESTEL, Stakeholder, SWOT, Porter's Five Forces, VRINE, and Porter's model of competitive advantage. The report describes how each analysis supports Airbus's decisions and identifies any problems. The analyses show that the tools used will support Airbus's direction, growth in the aerospace industry, and mission to compete against Boeing for global market share.
Case competition final boing dreamlinerDan Nielsen
- Boeing has transformed from an aircraft manufacturer to a "master planner", outsourcing more production but facing challenges in managing suppliers.
- The new "Build to Fly" strategy aims to address issues like control, reliance and visibility in the supply chain by facilitating more collaboration between Boeing and partners.
- The Boeing BIO1000 concept is for a new mid-sized fuel efficient aircraft that could replace aging 737s, targeting growing demand for shorter flights. Its innovative design and "Build to Fly" approach aim to give Boeing long-term competitive advantage.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Boeing is the world's largest aerospace company founded in 1916. It operates commercial and military aircraft and defense systems. Boeing employs over 158,000 people globally and is a leading U.S. exporter. It has two main business sectors, Commercial Airplanes and Integrated Defense Systems, and operates through five principal segments. Boeing faces challenges from the global economic slowdown and changes in defense budgets but maintains a strong order backlog and focus on innovation.
1-2 pages of five supply chain lessons learned from the Bo.pdfConceptcreations1
1-2 pages of five supply chain lessons learned from the Boeing case. Each lesson can be in a
short paragraph.
Managing New Product Development and Supply Chain Risks: The Boeing 787 Case The 787
Dreamliner's unconventional supply chain To reduce the 787's development time from six to four
years and development cost from $10 to $6 billion, Boeing decided to develop and produce the
Dreamliner by using an unconventional supply chain new to the aircraft manufacturing industry.
The 787s supply chain was envisioned to keep manufacturing and assembly costs low, while
spreading the financial risks of development to Boeing's suppliers. Unlike the 737s supply chain,
which requires Boeing to play the traditional role of a key manufacturer who assembles different
parts and subsystems produced by thousands of suppliers (Figure 3 ), the 787's supply chain is
based on a tiered structure that would allow Boeing to foster partnerships with approximately 50
tier-1 strategic partners. These strategic partners serve as "integrators" who assemble different
parts and subsystems produced by tier-2 suppliers (Figure 4). The 787 supply chain depicted in
Figure 4 resembles Toyota's supply chain, which has enabled Toyota to develop new cars with
shorter development cycle times Figure 4 Redesigned supply chain for the Dreamliner program
Table 3 Comparison of Boeing's strategy for its 737 and 787 programs
Managing New Product Development and Supply Chain Risks: The Boeing 787 Case
Christopher S. Tang and Joshua D. Zimmerman UCLA Anderson Schood
ctangearnderson.uda.edu joshua zimmerman.20096anderson.uda.edu Commented by James I.
Nelson M.S. MBCP, CORP Business Continuity Services To stimulate revenue growth and
market response, Boeing decided to develop the 787 Dreamliner. The 787 Dreamliner is not only
a revolutionary aircraft, but it also utilizes an unconventional supply chain intended to drastically
reduce development cost and time. However, despite significant management efforts and capital
investment, Boeing is currently facing a series of delays in its schedule for the maiden flight and
plane delivery to customers. This paper analyzes Boeing's rationale for the 787's unconventional
supply chain, describes Boeing's challenges for managing this supply chain, and highlights some
key lessons for other manufacturers to consider when designing their supply chains for new
product development. Acknowiedyments: We uould like to thank Wiliam Schmidt of the Hartard
Business School and ane anonymous reviewer for their constructive comments an an earlier
version of this paper. Introduction Since the U.S. government deregulated air travel in 1977 ,
more airlines have entered the market causing fierce price competition. As airfares continued to
decline, the total number of U.S. passengers per year has risen from approximately 240 million
to 640 million from 1977 to 1999. At the same time, U.S. commercial aircraft manufacturers
have faced major competition from European companies..
Boeing and Airbus are the two dominant manufacturers in the global aircraft industry. While Boeing currently has a larger market share and generated higher revenues in the first half of 2015, Airbus has received more net orders so far in 2015 with 815 orders compared to Boeing's 447. Both companies are taking steps to grow their presence in important markets - Boeing is developing its first aircraft assembly facility in China, while Airbus opened a new facility in the US. However, Airbus faces pressure to meet its deadline to deliver the first A320neo aircraft by the end of 2015 after engine problems caused further delays in testing. Overall, while Boeing's financial performance has improved, Airbus has a larger backlog of orders that will support
This document provides a case study on lessons learned from Boeing's 787 Dreamliner project. Key points:
- Boeing significantly increased outsourcing for the 787 to 70% in an attempt to reduce costs and risks, utilizing a novel multi-tier supply chain model. This led to underestimating integration costs and losing control over key technologies.
- Major delays occurred, with the first 787 delivery over 2 years late. Issues with lithium batteries also grounded the 787 fleet temporarily in 2013.
- Nine lessons are identified, including the need for accurate cost estimation considering all costs, assembling a management team with supply chain expertise, and proactively managing labor union relationships. Outsourcing too
The document provides an agenda and overview of Boeing, including:
- Boeing's divisions and key products in commercial aircrafts and defense segments.
- Financial highlights like 2010 revenue of $64.3 billion and net income of $3.3 billion.
- Management discussion of lower 2010 revenue and higher operating earnings.
- Industry drivers of air travel growth and aerospace market value forecast.
- Competitive analysis shows Boeing is largest player and competes primarily with Lockheed Martin, BAE Systems.
Sampling of Current LCC IssuesImprovements in the NewsCom.docxjeffsrosalyn
Sampling of Current LCC Issues/Improvements in the News
Commercial Airliner Aircraft - (Recent News Briefs in AIAA Morning Launch)
· Boeing Plans to Cut Up to 8000 jobs from Commercial Aircraft Division
· Boeing 737 Accelerated Assembly Automation
· Boeing Changing Supplier Terms Amid Cost Cutting Efforts
· Low Oil Prices Improving Airline Revenue Outlook
· American Airline Tops Profit Estimates, Defers Aircraft Deliveries
· Southwest Airline Delays Delivery of Boeing 737-Max Aircraft
· Boeing 737-Max & 777X 2018 Status
· Bombardier Delivers First C Series Jetliner - Challenge to Boeing & Airbus
· Airbus Cuts Production Rate of A380 Super Jumbo Airliners
· Airbus $1.5 Billion Loss From A350 & A400M Development Issues
Boeing plans to cut up to 8,000 airplane jobs: sources | Reuters
www.reuters.com/article/us-boeing-redundancies-idUSKCN0WW0AF
Mar 30, 2016 - Boeing Co plans to cut up to 8000 jobs this year at its commercial ... about 1,600 through voluntary layoffs and 2,400 by leaving open positions ...
Boeing Rolling Out Accelerated Assembly Automation At 737 Factory.
Reuters (6/17) reported that Boeing is debuting the Spar Assembly Line (SAL) at its 737 manufacturing plant in Renlon, Washington, “adding a new robotic system to drill holes in the main beams inside each wing known as spars, industry sources said.” According to the article, the roll out of the new systems bolsters Boeing’s headway into automation “as it prepares to boost output of its best-selling airliner, while also preparing the ground work for future aircraft that will be designed with radical new manufacturing methods in mind.” The aircraft manufacturer “says greater automation will cut the amount of ‘rework’ caused by production glitches, reduce injuries and support sharp increases in output at factories.”
Boeing Changes Payment, Inventory Terms With Suppliers Amid Cost Cutting Efforts.
Reuters (7/7) reports that Boeing has ramped up its efforts to “conserve cash, cut costs in its supply chain and trim inventory of parts in its factories,” informing suppliers that it will take up to 120 days to pay for its expenses, “rather than 30 days as in the past.” According to sources close to the matter, Boeing is introducing the new payment scheme this year. In addition, the source said that the company is also decreasing its overall factory inventory and is relying on suppliers to store parts and equipment. Confirming the reported changes in a statement to Reuters, Boeing spokeswoman Jessica Kowal said that in order to stay competitive, “we are in the process of adjusting the payment terms of our large suppliers,” adding that “our new payment terms are in line with their payment schedules to their own suppliers.”
Low Oil Prices Fueling Airline Revenue Outlook, IATA Says.
USA Today (6/2) reports that according to new data released on Thursday by the International Air Transport Association (IATA), carriers worldwide are expected to generate a total of $3.
Boeing formed strategic partnerships with 27 companies across multiple countries to build its new 787 Dreamliner aircraft. This was intended to reduce Boeing's financial risk but resulted in major delays and issues. Problems arose due to lack of coordination between partners, cultural differences, and Boeing asking suppliers to design their own parts without clear specifications. While intended to cut costs and development time, the partnerships ended up increasing Boeing's costs and led to a three year delay in delivering planes. However, Boeing is moving forward with the 787 which offers fuel efficiency advantages attractive to airlines, and has introduced larger 787 models that may lead to future profitability.
Key Challenges for the European Aerospace SuppliersEric Ciampi
The document discusses three main challenges facing European aerospace suppliers over the next decade: 1) Developing robust and agile supply chains to keep up with growing demand and complexity, 2) Extending their manufacturing and engineering footprints to more global supply chains, and 3) Taking on more innovation and technology development work for OEMs. It provides examples of how suppliers are responding through consolidation, risk sharing with OEMs, and expanding internationally. OEMs are also pushing suppliers to rationalize their supply bases and improve quality and delivery.
This document provides an overview and analysis of the 2013 financial performance of the top 100 aerospace companies based on a report compiled by PwC. Some key points:
- The aerospace industry has experienced steady revenue growth averaging 5.6% annually since 2005 and over 5% growth in 2013, with anecdotal evidence that the industry is thriving.
- Boeing maintained the top spot with record revenue and profits in 2013, while Airbus also saw profits rise substantially though revenue growth lagged Boeing's.
- Western defense budget cuts have impacted companies like Lockheed Martin and Northrop Grumman but profits generally held steady as they diversified into commercial aerospace.
- Civil aviation continues to power
Boeing is the world's largest aerospace company and second largest defense contractor. It generates over $60 billion in annual revenue from commercial airliners, military aircraft, weapons, space systems, and other services. Boeing competes with Airbus, Lockheed Martin, and European Aeronautic Defence and Space Company in commercial and defense markets. It aims to leverage its expertise in aerospace to develop new products and services through strategies outlined in its "Vision 2016" plan.
Boeing is the world's largest aerospace company and second largest defense contractor. It generates over $60 billion in annual revenue from commercial airliners, military aircraft, rockets, satellites and other products. Boeing competes with Airbus, Lockheed Martin and EADS in both commercial and defense markets. The commercial aircraft industry has high barriers to entry due to large capital requirements, long development cycles and product risks. Boeing aims to leverage its strengths in engineering and customer relationships into new aerospace products and services.
The document provides an outlook on the global aerospace and defense industry in 2012. It finds that the commercial aircraft industry is expected to continue growing due to increasing orders and production, while parts of the defense industry may decline due to decreased military spending, particularly in the US and Europe. Overall, the financial performance of top aerospace and defense companies is projected to be similar to 2011. The document also discusses trends in commercial aircraft production, air traffic control modernization, global defense spending, business jets, and regional outlooks.
Boeing is a major aerospace company with commercial, defense, and space divisions. It faces competition from Airbus and other companies in commercial and defense markets. Some key risks Boeing faces include declining commercial aircraft demand following events like 9/11, increasing competition from Airbus, environmental risks, and legal risks from lawsuits.
More Information @ https://bit.ly/2zPAtoo
Adoption of methods to reduce aircraft weight and enhance fuel efficiency will drive aerospace floor panels market during forecast period.
The aerospace industry was worth $838 billion globally in 2017, with commercial aircraft production making up 61% of the industry at $180.3 billion. In 2018, the value of new commercial aircraft was projected to be $270.4 billion. The document then provides details on key players in the commercial aerospace industry such as Boeing, Airbus, and Embraer. It discusses factors affecting the industry and provides a history of Boeing, including impacts from the Boeing 737 MAX issues, such as significant losses, undelivered orders, and effects on suppliers. Finally, it outlines actions Boeing is taking to address the 737 MAX issues through software updates, training improvements, and global outreach.
2015 Flight Global and PwC Top 100 Aerospace CompaniesDouglas Burdett
The document discusses the annual Top 100 analysis of the aerospace industry by Flight International and PwC. It finds that 2014 was another boom year for the industry, with all-time sales records and double-digit growth. However, the coming period may present more challenges due to economic uncertainties in countries like Brazil, India, Russia, and potentially China. Even so, the industry would still be in strong shape even if half of the large aircraft order books were canceled. The analysis provides details on the financial performance and position of the top 20 companies in the industry.
Airbus Analysis Essay provides a detailed analysis of Airbus using several analytical tools including PESTEL, Stakeholder, SWOT, Porter's Five Forces, VRINE, and Porter's model of competitive advantage. The report describes how each analysis supports Airbus's decisions and identifies any problems. The analyses show that the tools used will support Airbus's direction, growth in the aerospace industry, and mission to compete against Boeing for global market share.
Case competition final boing dreamlinerDan Nielsen
- Boeing has transformed from an aircraft manufacturer to a "master planner", outsourcing more production but facing challenges in managing suppliers.
- The new "Build to Fly" strategy aims to address issues like control, reliance and visibility in the supply chain by facilitating more collaboration between Boeing and partners.
- The Boeing BIO1000 concept is for a new mid-sized fuel efficient aircraft that could replace aging 737s, targeting growing demand for shorter flights. Its innovative design and "Build to Fly" approach aim to give Boeing long-term competitive advantage.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
Boeing
1. The Boeing Company
NYSE: BA
Jacob Brink& Rob Hollon
Target Price: $149.63 CurrentPrice:$128.82 Recommendation: Buy/Hold
Business description:
Boeingisthe largestmanufacturerof commercial aircrafts(by2013 deliveries) competinginaduopolywithAirbus andis
the secondlargestU.S. militaryweaponsmanufacturer. The Boeing737 Max has a plannedintroductionsetfor2017
withfirmordersforthe newplane at1,876 throughApril 2014. Last year the companyannouncedthe Boeing777X with
deliveriesslatedfor2020. On the otherhand, the defense sectoraccountsforaboutone thirdof Boeing’stopline.
Boeingcompeteswithinthe defensesectorwithfourotherbigdefense contractorsandmanysmallercompanies.
Recentlythe companyintroducedasmartphone that‘self-destructs’if unauthorized usersattempttouse it.
CurrentPrice $124.12
Market Cap $91.51B
Sharesoutstanding737.08 million
EPS (last12 months) $5.97
P/E 20.81
Investmentsummary
A 12 monthtarget price of $149.63 isdeterminedusingafree cashflow model.Boeingexpectsgrowthof 5%annually
for the next20 yearswhile Airbusproclaims4.7%.Ouropinionisthatthismightbe a little toooptimistic butfairlyclose
to an actual value which spurredouropinionof 4.5% growth.The global economyisimproving,whichaccordingto
Boeingaccountsfor 60-80% of the growth inrevenue passengerkilometers(discussedindetail later).The stockprice
has retreatedabitsince January1, butwe remain bullishregardingthe company’sprospects. While the defense
industryisverylikelytoshrinkthisyear,the commercial aerospace industryispoisedtogrow especiallyinemerging
markets. The 12 monthtarget price reflectsall these factorstakeninto account.
Financial metrics
Boeing Financials (millions USD)
2013 2012 2011 2010 2009
Revenue $86,623 $81,698 $68,735 $64,306 $68,281
NetIncome $4,586 $3,903 $4,011 $3,311 $1,335
Total Assets $92,663 $88,896 $79,986 $68,565 $62,053
Total Debt $9,635 $10,409 $12,371 $12,421 $12,924
Equity $14,875 $5,867 $3,515 $2,766 $2,128
NetOperation Cash Flow $8,179 $7,508 $4,023 $2,952 $5,603
ROE 30.83% 66.52% 114.11% 119.70% 62.73%
ROA 4.95% 4.39% 5.01% 4.83% 2.15%
Profit Margin 5.29% 4.78% 5.84% 5.15% 1.96%
Debt to Equity 0.65 1.77 3.52 4.49 6.07
2. In 2010 Boeingexperiencednegativerevenue growthof 5.82% while the industryhadnegativegrowthof about
2%.For the nextthree yearsBoeingincreasedrevenue growth atarate above the commercial aerospace industry
average. Boeinghasdecreaseditstotal debtalongwithitsdebttoequitywhichsignalsthatthe companyisbecoming
lessvulnerable toeconomicdownturns. Notstatedabove yetstillnoteworthyisBoeing’stotal currentliabilitieswhich
standsat $51,486 million.Thisisnotuncommonforanaircraft manufacturerandtheircurrentratio is1.26 which
suggeststhatBoeingwill be able topaythese liabilities.Inthe firstquarterof 2014 Boeingincreasedtheirquarterly
dividendfrom$.485 to $.73 per share.Thissignalsthatthe companyis comfortable withtheircurrentfinancial standing.
Profitmarginincreasing
Debtto equitydecreasing
CheckROE/ROA
Industry Analysis
2013 Sales Market
Cap
Current Price P/E Current
Ratio
Debt to
Equity
Net Margin
Boeing 86.62B 91.51B $126.88 20.81 1.26 65.5 5.29
Airbus 81.86B 55.60B $70.49 27.73 0.97 50.87 2.47
LockheedMartin 45.36B 50.01B $158.81 17.16 1.2 125.09 6.5
General Dynamics 31.22B 36.60B $105.76 15.95 1.47 26.95 7.96
Raytheon 23.71B 30.30B $99.42 15.64 1.69 42.9 8.15
Northrop Grumman 24.66B 25.66B $119.69 14.24 1.63 55.84 7.92
Airbus financials converted from Euros atconversion of 1.38:1 U.S.D.
Aerospace
Keyforcesthat drive thataerospace industryare oil prices,economicgrowthanddevelopment,environmental
regulations,infrastructure,airplanecapabilities,othermodesof transport,andemergingmarkets.The forcescan
significantlyhelporhinderthe profitabilityof manufacturers. Assuchaircraftmanufacturersmustadaptto changesin
these forcestoremaincompetitive. Forinstance,fuel now comprisesthe largestportionof anairline industrycost
structure whichpressuresmanufacturerstodevelop more fuel efficientplanes.
The two aircraft manufacturerseffectivelycompetinginthe
industryare BoeingandAirbus.Competitionbetweenthe duo is
intense andfocusesonthe numberof ordersanddeliverieseach
companycan attain.Airlinesselectacompanybasedonfactors
such as financing,fuelefficiency, maintenance,andseat
capacity. Introductionof the AirbusA320neoisscheduledfor
late 2015 while the comparable Boeing737 Max 8 inscheduled
for introductionin2017. The successof these companieshingesonhavingasteadyflow of ordersand makingdeliveries
as scheduled.If aircraftsare notdeliveredonschedulethenthere are usually heftyfinesplacedonthe manufacturer.In
thismanner,some of the riskis placedonthe manufacturerratherthan the airline company. A verycritical factorfor
bothcompaniesismeetingthe planneddeadline forthe introductionof theirnew aircrafts. Forthe firstquarterof 2014,
Boeingreceivedmore ordersandfulfilledmore deliveriesthanAirbus.Airbus’sbacklogisabithigherthan Boeing,which
isthe total numberof ordersminusthe total numberof deliveries.
Sourcesare positive regardingthe growthof the airline industryoverthe comingyears. Historicallygrowthin
revenue passengerkilometers(RPK) hasoutpacedGDP.SourcesforecastgrowthinRPKas a functionof GDP growthand
a time trendvariable thattypicallycentersat2%.The GDP growthvariable accountsfor60-80% of air trafficgrowth
while the time trendaccountsforthe other20-40%. Thisrelationshipcanbe seenoverthe longterm, yetunexpected
economiceventscandirectlyorindirectly cause declinesinairtraffic.InBoeing’s CurrentMarketOutlook2013-2032 the
companyprojectsthat worldwide airtrafficandcargo trafficwill grow at a compoundannual rate of 5% overthe next20
years.Thisaccordingto S&P may be a little tooptimistic. Incolloquial termspositive RPKgrowth isdue tostrong
demandinemergingmarketssuchasLatin America,Africa,Middle East,andAsiaPacificaswell ascontinueddemandin
Europe and the Americas. Otherfactorsinclude the needformaintenance,repair,andoverhaul onexistingplanesand
the businessjetmarket takingoff once again.
Airbus Boeing
Backlog 5,521 5,154
Q1 2014 Deliveries 141 161
Q1 2014 Orders 103 235
3. Defense
The defense industryconsistsof the bigfive defense contractorsalongwithmany smallercompanies.The topsix in
orderof 2012 revenue are LockheedMartin,Boeing,BAESystems(aBritishcompany),Raytheon,General Dynamics,and
NorthropGrumman.Currentlythe U.S.governmentisreducingitsspendinginmilitaryequipment.Asaresult,those
companiesthatderive alarge portionof theirtopline fromtheirdefenseproductswillbe influencedthe most. Lockheed
Martin, BAE Systems,andRaytheonall deriveover90% of theirrevenuesfrommilitarysales. Thistrendof reducingthe
budgetinthe defense sectorwilllikelycontinueforthe 3-5 years.Overthe longtermthe industryisprojectedtogrow
at 3%.
Since militaryproductsaccountsforaboutone thirdof theirrevenue,Boeingwill face headwindinthe nextfew
yearsdue to the fact that the U.S. governmentiscuttingspendingondefense.However,thiswill be offsetbythe large
growththat is expectedinthe commercialairline industry.Asthe global economyimproves,the commercial aerospace
industrywill improve aswell.Aftermarketservicesare likelytogainmore businessaswell asfleetsare startingtoage
for manyairlines.
Valuation
For The BoeingCompanyvaluationwe usedadiscountfree cashflow model todetermine the futureprice.First
we forecastedaflat4.5% growthacross the company,and usedtocome upwiththe free cash flow forthe next3 years
and beyondthat,thenwe discountedthose valuesbythe weightedaveragecostof capital,withwe determinedtobe
9.87%.
Date 4/22/2014 G=4.5%
in$ millions
2013 2014 2015 2016 2017
OperatingCashflow 8,179.00 8,547.06 8,931.67 9,333.60 9,753.61
less:Capex 2,098.00 2,192.41 2,291.07 2,394.17 2,501.90
FCF 6,081.00 6,354.65 6,640.60 6,939.43 7,251.71
Discountrate (WACC)
PV(14-16) 5783.84 5501.20 5232.37
PV( 2017 and beyond) 101840.67
FirmValue 118,358.07
Less:Long termDebt 8,072.00
EquityValue 110,286.07
# sharesoutstanding( millionshares) 737
Target price $149.64
The assumptionswiththe model are thatBoeingcontinueswithaconstant4.5% growthrate.As well asthat theirdebt
staysconstant.
Some risksto the recommendationwouldbe thatinorderforBoeingto keepaconstant 4.5% growthrate, Chinas
economyneedstostaystable andcontinue growing.A lotof theirnew businessiscomingfromthe amountof airports
beingbuiltoverthere.Anotherfactoristhat Boeinghasbeenreducingthere longtermdebtoverthe pastfive yearsand
lookas if theyplanon continuingtodoso. Thiswill change theirWACC,ultimatelyalteringthe model slightly.There are
otherfactors that couldhave an effectsuchasmissinga deliverydate,ora large rise inoil prices.
Catalysts
4. CatalystsforThe BoeingCompanyandtheyare oil prices, the threatof new entrants,andothermodesof
transportation.Oil priceshave alarge effectonthe companyas a whole.Oil price effectsthe overalldesignprocessof
the BoeingCompany.If theyexpectoil pricestorise thentheywill be lookingtomanufacture more fuel efficientplanes
like the 787 Dreamliner,becausetheywill be more indemand.Boeinghastobe able toadjustits productionbasedon
oil prices.
The nextmajor catalystisthe threat of new entrantsinto the market.Companieslike ComacandBombardier
whichare startingto become real competitorsandmayevenbe acause of worryin the longterm. Comac is the
Commercial AircraftCorporationof China,andBombardierisaUS base companythat specializesinmidsizedaircrafts.
These companies are playersinthe businessjetmarketand inthe longrun couldthreatenBoeingssales.Comacis
startingto gainsome traction,and couldbreakup the duopolythatBoeingandAirbushave onthe market.
Modesof transportationsuchas highspeedrail (HSR) canpotentiallypose athreatforthe airline industry.HSR
islikelymore efficientforshorterjourneysandcarryingcargo. Howeveraviationisefficientforlongerjourneysandasa
meansof transportationwithoutheavycostsoninfrastructure.
Management
The BoeingCompanyhasa veryexperiencedmanagementteam.W.JamesMcNerneyhasbeenthe CEOfor
aroundnine yearand before thatwasthe CEO of 3M and has heldtopexecutivepositionsatGE and Proctor&Gamble.
He alsoisthe Chairmanof the Export Council andwasappointedbyPresidentObamahimself.Theyoperate asan
advisorycommittee oninternational trade.Boeing’sCFOGregSmithhasbeenonboard withBoeingsince asthe CFO
since 2010, but has workedforBoeingsince 2008. Priorto beingthe CFOat Boeinghaswas the VPfor Raytheon,aswell
as a controllerforBoeingsfinancial operations.Boeing’sleadengineerJohnJ.Tracy has servedasthe general mangerof
EngineeringforBoeingsMilitaryAircraftandMissiles,he wasalsothe directorof the Space and Communications
AdvancedEngineer.Tracyhasauthoredmore thanthirtypublicationsandcurrentlyservesonthe boardof trusteesfor
the IllinoisInstitute of Technologyandonthe engineeringadvisoryboardforseveral leadinguniversities.
Wall Street consensus
No. of
Recommendations % of Total
Buy 13 48%
Buy/Hold 7 26%
Hold 7 26%
WeakHold 0 0%
Sell 0 0%
No opinion 0 0%
Total 27 100%
Recent News
Earningsannouncedonthe 23rd
of April withbuy-sideanalystexpectingBoeingtobeatthe estimates.
Deliveriesof the 787-9 are to start mid-year
Boeingnamed2014 EnergyStar partner of the year.