Tag Archives: Everett

Boeing reports first quarter GAAP net earnings of $1.3 billion

The Boeing Company (Chicago, Seattle and Charleston) reported first quarter revenue increased 8 percent to $22.1 billion on higher commercial deliveries. Core earnings per share (non-GAAP) increased 12 percent to $1.97, reflecting strong performance across the company, and GAAP earnings per share was $1.87. The Company reaffirmed its 2015 financial and deliveries guidance.

Boeing logo (medium)

Boeing 1Q15 Financial Results

Operating cash flow in the quarter was $0.1 billion, reflecting timing of receipts and expenditures, commercial airplane production rates and strong operating performance (Table 2). During the quarter, the company repurchased 17 million shares for $2.5 billion, leaving $9.5 billion remaining under the current repurchase authorization which is expected to be completed over approximately the next two to three years. The company also paid $0.6 billion in dividends in the quarter, reflecting an approximately 25 percent increase in dividends per share compared to the same period of the prior year.

Total company backlog at quarter-end was $495 billion, down from $502 billion at the beginning of the year, and included net orders for the quarter of $15 billion.

Commercial Airplanes Deliveries:

Boeing 1Q Deliveries

Commercial Airplanes first-quarter revenue increased 21 percent to $15.4 billion on higher delivery volume and mix (Table 4). First-quarter operating margin was 10.5 percent, reflecting the dilutive impact of higher 787 deliveries.

During the quarter, Commercial Airplanes captured orders for 52 737 MAX airplanes. The 737 program has won over 2,700 firm orders for the 737 MAX since launch. Also during the quarter, the company opened a new Propulsion Systems facility at Boeing South Carolina that will initially support the 737 MAX and 777X, delivered the first Boeing South Carolina-built 787-9 Dreamliner and received 330-minute ETOPS certification on the 747-8 Intercontinental.

Commercial Airplanes booked 110 net orders during the quarter. Backlog remains strong with over 5,700 airplanes valued at $435 billion.

Boeing Military Aircraft (BMA) first-quarter revenue was $2.7 billion, reflecting planned timing of deliveries and mix; operating margin was 9.5 percent. During the quarter, BMA was awarded contracts for 43 Apache helicopters.

Network & Space Systems (N&SS) first-quarter revenue was $1.7 billion, reflecting lower satellites and missile defense system program volume partially offset by higher volume on the Commercial Crew program. Operating margin increased to 9.6 percent on strong performance related to our United Launch Alliance joint venture. During the quarter, the first two all-electric Boeing 702SP satellites were launched on a single rocket.

Global Services & Support (GS&S) first-quarter revenue was $2.2 billion, reflecting slightly lower volume in integrated logistics. Operating margin increased to 14.1 percent on strong operating performance and program mix. During the quarter, GS&S was awarded a combat logistics support agreement with the U.S. Defense Logistics Agency.

Top Copyright Photo: Nick Dean/AirlinersGallery.com. Boeing 747-8JK Intercontinental N6067E (msn 38636) taxies at Paine Field near Everett. How long will Boeing continue to build the iconic Boeing 747? Relive the past with our Boeing 747 slide shows below.

Boeing 747-8 Customers:

Boeing 747-8 Customers

Boeing 747-8 Tail

Boeing 747 aircraft slide show: AG Airline Slide Show

Boeing 747SP aircraft slide show: AG Airline Slide Show

AG Visit the new-look AG

 

Xiamen Airlines to start Boeing 787 service to Amsterdam

Xiamen Air (Xiamen) plans to launch its first European route to Amsterdam from Xiamen starting on July 26. The new route will be operated three days a week with Boeing 787-8 Dreamliners.

Copyright Photo: Steve Bailey/AirlinersGallery.com. Boeing 787-8 Dreamliner B-2760 (msn 41540) approaches the runway at Paine Field near Everett before the handover.

Xiamen Air aircraft slide show: AG Airline Slide Show

AG Bottom Ad Bar

Boeing 747-800 Intercontinental receives FAA approval for 330-minute ETOPS

Boeing (Chicago, Seattle and Charleston) has received 330-minute Extended Operations (ETOPS) approval from the U.S. Federal Aviation Administration (FAA) for the Boeing 747-8 Intercontinental. It is the first time a four-engine airplane has received this type of design approval.

With this approval, required for four-engine passenger airplanes built after Feb. 2015 to fly beyond 180 minutes from an en-route alternate airport, the 747-8’s design is approved to conduct 330-minute ETOPS missions. These missions allow operators to fly long-distances more directly on virtually any worldwide city pair routing.

Although ETOPS has been a requirement for twin-engine airplanes since the 1980s, the regulations have recently been applied to the design of passenger airplanes with more than two engines.

With 83 airplanes in service with 11 customers, 747-8s have logged more than 619,000 flight hours and more than 101,000 flight cycles.

Copyright Photo: Nick Dean/AirlinersGallery.com. Boeing 747-8KZF N50217 (JA12KZ) (msn 36137) climbs away from Paine Field near Everett.

Boeing 747 aircraft slide show: AG Airline Slide Show

AG A new gallery added

LAN Airlines to retire the last Airbus A340-300

LAN Airlines (Chile) (Santiago) is getting ready to replace its aging Airbus A340-300s (above) with the new Boeing 787-9 Dreamliners (below). The venerable A340s are currently assigned to the long-range Santiago-Auckland-Sydney Southern Hemisphere trans-Pacific route.

The last regularly-scheduled revenue flight is currently scheduled for the morning of April 17 when flight LA 800 arrives from Auckland at 11:35 am (1135) in Santiago. However the A340 may be kept as a reserve aircraft after this last scheduled flight, pending any last minute changes.

The Chilean carrier took delivery of its first stretched Boeing 787-9 Dreamliner (CC-BGA) on February 5.

In other news, LAN Airlines on January 27, 2016 will start to operate a weekly Boeing 787 flight on the Santiago-Caracas-Miami (on Wednesdays) route per Airline Route.

Top Copyright Photo: Alvaro Romero/AirlinersGallery.com. Airbus A340-313 CC-CQC (msn 363) arrives back at the Santiago (SCL) hub.

LAN Airlines (Chile) aircraft slide show: AG Airline Slide Show

Bottom Copyright Photo: Steve Bailey/AirlinersGallery.com. Boeing 787-9 Dreamliner CC-BGB (msn 35318) prepares to depart from Paine Field on a test flight on March 6. It is pending delivery to the carrier.

Cargolux takes delivery of its 30th direct delivery Boeing 747, adds a special decal in honor of Joe Sutter

Cargolux 747-8F Delivery Honors Joe Sutter

Boeing (Chicago, Seattle and Charleston) and Cargolux Airlines (Luxembourg) are celebrating the 30th direct delivery of a 747 Freighter to the Luxembourg-based cargo carrier. To mark the occasion, Cargolux’s latest 747-8 Freighter carries a special decal of the “Father of the Boeing 747,” Joe Sutter, the Boeing engineer who led the team that designed the airplane.

Cargolux 747-8F Delivery Honors Joe Sutter

Photos Above: Boeing. The pictured Boeing 747-8R7F LX-VCL (msn 35823) with the special Joe Sutter emblem on the nose was officially handed over to the carrier on March 5.

Video Below: Interview with Joe Sutter.

This latest delivery was the 12th 747-8 Freighter to join Cargolux’s fleet, with the Luxembourg carrier becoming the world’s first operator of the airplane type in October 2011. Prior to the introduction of the 747-8 Freighter, Cargolux took delivery of the first of two 747-200 Freighters in 1979 and in 1993 also became the world’s first operator of the 747-400 Freighter, taking a total of 16 747-400 Freighters.

In January 2015, Cargolux began operations to Manaus Airport in Brazil with a 747-8 Freighter carrying a full load of machinery spare parts and telecommunications equipment. In the process, Manaus Airport became the 100th commercial airport that Cargolux serves with the 747-8 Freighter, underlining the airplane’s incredible versatility in the world cargo market.

Cargolux currently has two unfilled orders for 747-8 Freighters, with the all-Boeing carrier operating a fleet composed entirely of 747-400 Freighters and 747-8 Freighters.

Cargolux aircraft slide show: AG Airline Slide Show

Silk Way West orders three additional Boeing 747-800 freighters

Silk Way West  (formerly Silk Way Airlines) (Baku) and Boeing (Chicago, Seattle and Charleston) have announced an order for three 747-8 Freighter airplanes valued at more than $1.1 billion at current list prices.

Silk Way West is an enterprise of the Silk Way Group, which includes 23 companies working in the aviation industry and related services. The airline currently operates seven Boeing airplanes, including two 767-300 Freighters, three 747-400 Freighters and two 747-8 Freighters.

According to Boeing, “there are now 56 747-8 Freighters in service with eight customers, the 747-8 Freighters have logged more than 500,000 flight hours and more than 88,000 flight cycles. They are performing with the highest dispatch reliability and utilization of any four-engine airplane in service.”

Copyright Photo: Royal S. King/AirlinersGallery.com. Silkway Azerbaijan Cargo (Silk Way West Airlines) Boeing 747-83QF VQ-BVC (4K-SW882) (msn 44937) lands at Paine Field near Everett.

Silk Way West aircraft slide show: AG Airline Slide Show

AG No Ads-Beautiful

Alaska Airlines to take another look at flying to Everett after Snohomish County approves a Paine Field terminal

Alaska Airlines (Seattle/Tacoma) is taking another look at possibly serving Paine Field near Everett, Washington (north of Seattle) after the Snohomish County council approved the construction of a passenger terminal. Paine Field is also the home of Boeing’s 747/777/787 assembly plant.

The Snohomish County Council has approved a two-gate passenger terminal at PAE. The building will be leased to Propeller Airports (New York). The facility once built, could handle up to 23 flights a day according to KING 5.

Read the full report: CLICK HERE

Meanwhile Alaska Airlines is now taking a new look at PAE for possible service probably by Horizon Air (Alaska Horizon) following this vote according to Puget Sound Business Journal.

Read the full report: CLICK HERE

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Horizon Air (Alaska Horizon) Bombardier DHC-8-402 (Q400) N452QX (msn 4459) taxies to the runway at Seattle-Tacoma International Airport (SEA) in the special “Employee Powered” livery featuring the signatures of employees.

Alaska Airlines aircraft slide show: AG Airline Slide Show

Alaska Horizon aircraft slide show: AG Airline Slide Show

AG Staff Photographers

AG Print Sizes