Strong performance is once again paying off. Boeing’s third-quarter earnings have again beaten the street, with net income of $1.0 billion, or $1.35 per share, on continued strong core performance and revenue of $20.0 billion. On the commercial side, we booked 369 net orders and delivered 149 airplanes during the quarter. Our backlog of approximately 4,100 airplanes is valued at $307 billion. Our delivery guidance for the year is for 585 to 600 airplanes, including an expected 70 to 85 787 and 747-8 deliveries, of which approximately half are 787 deliveries.
As we head down the home stretch of 2012, it’s important that we stay focused on executing our rate increases and delivering on our promises to customers. That commitment was very clear from every one of our programs during the third-quarter, as evidenced by the list of accomplishments below— in photos and video.
The 737 became the first commercial jet to surpass 10,000 orders with the United Airlines order of 100 MAX 9s and 50 Next Generation 737-900ERs. The 737-900ER also surpassed 500 total orders during the quarter. Virgin Australia ordered 23 737 MAXs, Air Lease Corp. became the first leasing company to order the MAX, and Avolon finalized an order for 10 MAX 8s, five MAX 9s and 10 737-800s. We also announced confirmed that the MAX will fly farther and offer more revenue potential than its predecessor and future competition.
Employees in Renton celebrate the 10,000th order for the 737.
Nippon Cargo Airlines became the first Japanese carrier to take delivery of the 747-8 Freighter. Korean Air’s 747-8 Freighter performed a spectacular flyover at the Boeing Classic golf tournament - a first for a 747-8. Air China firmed up an order for five 747-8 Intercontinentals and Lufthansa launched a new India route, from Frankfurt to Bangalore, served by the 747-8I. By the end of third quarter, the 747-8 fleet had logged 50,000-plus fleet hours serving 80 airports around the world.
The 747-8 Freighter for Korean Air performs a flyover at the Boeing Classic.
LAN took delivery of the first four 767s of the 13 it ordered. The first KC-46 Tanker System Integration Lab opened three weeks early at Boeing Field to support testing during development of the U.S. Air Force aerial refueling tanker.
Ethiopian Airlines became the first African carrier to operate the 777 Freighter. The program hired and trained hundreds of new employees to prepare for the increased rate production of 8.3 per month. To accommodate the rate increases, four specially designed rail cars were added to 16-car fleet to carry flight decks from Wichita to Everett.
Adding more rail cars to help boost 777 production.
The Dreamliner makes history with several deliveries: LAN (first in the Americas), Ethiopian (first in Africa) and United (first in North America). Deliveries began from Boeing South Carolina’s delivery center as Air India took its first two 787s assembled in Everett. ANA ordered 11 787-9s, raising its total Dreamliner orders to 66. The first 787 assemblies were loaded onto the Temporary Surge Line in Everett to support higher production rates. Major assembly began on the 787-9.
The 787-9 is the second member of the 787 family.
Commercial Aviation Services
Norwegian Air Shuttle became the largest Boeing landing gear exchange customer. Boeing forecasted a $2.4 trillion commercial aviation services market over next two decades with the need for a million new pilots and technicians by 2031. TUI Travel PLC signed a long-term flight training agreement for 787s and Qantas launched a new onboard performance solution for the iPad.