Travel Weekly Logo
RSS feed
SETTING THE AGENDA FOR TRAVEL
News
Your View
Travel Academy
Supplements
Subscriptions
Salary and Job Satisfaction Survey
Travel Pursuit
Australian Travel Awards
Top 100
Jobs
Links
Gallery
 
News 28/07/2005   

Boeing increases 2005 earnings forecast
 
Boeing’s commercial aircraft division led strong second-quarter growth to help increase the company’s 2005 full-year earnings forecast by around 10 per cent.

Jim McNerney, the US manufacturer's recently appointed chairman and CEO, said an ongoing review of Boeing's core units could "establish and strengthen growth and productivity opportunities".

He also confirmed that new orders would keep the 747 and 767 programs alive until next year, and that the 747 ‘Advanced’ project could be placed before the board for approval by the end of the year.

The commercial aircraft unit's revenue increased 20 per cent to USD6.8 billion, with a 24 per cent rise in operating income to USD475 million.

This contributed to an above-market second-quarter result for the entire company, which recorded 14.8 per cent revenue growth to USD15.03 billion and a 25.8 per cent rise in operating profit to USD810 million.

A reduced net profit of USD566 million was the result of a one-off charge for the sale of factories, and income taxes.

The manufacturer is now forecasting 2005 revenues of USD58 billion and an earnings per share increase from the USD2.40 to USD2.60 range to between USD2.75 and USD2.85, and a USD1 billion increase in operating cash flow to USD6 billion.

28 July 2005


More News

Ryanair rejects compensation appeal
Irish low-cost carrier Ryanair has refused to pay compensation to a UK family who's plane was diverted from London Stansted to Birmingham, around 160kms north. more

Shanghai Airlines to join Star
Shanghai Airlines has formally accepted an invitation to join the Star Alliance and Beijing-based Air China is expected to follow suit within weeks. more

Toll wins control of Patrick
Toll Holdings has finally succeeded in gaining control of Virgin Blue parent company, Patrick Corporation, after securing more than 50 per cent of the stevedore's shares. more

SQ profit falls 8.3 per cent
Increased fuel costs have hit Singapore Airlines' bottom line, with the carrier reporting a net profit in the year to March of $1.03 billion - down 8.3 per cent on last year. more

Varig on the block
Bankrupt Brazilian flagship carrier Varig is to be auctioned off to the highest bidder. more

Virgin Blue interim profit down
Virgin Blue has reported an 8.5 per cent drop in net profit for the first half of the financial year compared to the same period last year. more

Qantas boosts capacity on Canberra-Sydney route
Qantas is increasing capacity between Canberra and Sydney by more than 12 per cent and opening a new crew base in the capital. more

Ryanair to celebrate English misery
Irish budget airline Ryanair is threatening to hand out thousands of free tickets every time England concedes a goal at the upcoming World Cup in Germany. more

Air NZ hikes fuel surcharge on Australian tickets
Air New Zealand is the latest airline to increase its fuel surcharge due to dramatically escalating oil prices. more

Virgin launches direct Sydney – Rockhampton service
Virgin Blue launched direct flights between Sydney and Rockhampton today, and will initially operate the service three times a week. more

Contact us | Advertiser info | Archive articles | Press release submission | Events | Disclaimer | About Us | Privacy Policy