Boeing Co. says delays to its new 787 and higher pension expenses will hurt its 2011 profit. The airplane builder and defense company also says its fourth-quarter profit fell to $1.16 billion, down 8 percent from the same time last year. Not counting special items, the profit was about what analysts expected.
After Boeing announced yet another -- the seventh -- delay in the first delivery of the innovative 787 passenger jet, it's now clear that Boeing's decision to outsource both the design and manufacturing of the plane was more than it could manage.
Boeing announced Friday yet another delay of its 787 Dreamliner. The first delivery to Japan All Nippon Airlines has been postponed from December of this year to sometime early next year, due to problems with the Rolls Royce engine used in the aircraft.