Filed under: Bad news, Boeing Co (BA)

Boeing has delayed the delivery of the first 787 Dreamliner until early 2009 instead of late 2008, saying the rate at which jobs are being completed has not improved sufficiently to maintain the current schedule.

It’s the second delay for the commercial aviation giant, which previously had delayed the introduction of the next-generation plane by six months. The 787’s maiden flight will now occur near the end of Q2. The company underscored that the fundamental design and technologies for the 787 remain sound.

Investors early Wednesday took Boeing’s delay announcement in stride. Boeing’s (NYSE: BA) shares rose 16 cents to $78.02 in Wednesday morning trading.

The 787 Dreamliner program has encountered several bottlenecks due to parts shortages and assembly delays. Boeing has 817 orders for the plane, which is considered critical to its early 21st century commercial aviation strategy as it battles with rival Airbus.

Continue reading Boeing delays 787 Dreamliner delivery until 2009, citing parts shortage

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