Boeing Reports Jump In 1Q Profits

Boeing on Wednesday reported a surge in first-quarter profits and lifted its full-year earnings forecast following a strong performance in commercial aviation and defence programs.

The aerospace giant reported earnings of US$2.5 billion, up 56.9 percent from the year-ago period. Revenues rose 6.5 percent to US$23.4 billion.

The results again reflect broad health in commercial aviation as the airline industry enjoys a more stable financial period and as flying becomes much more common in the Middle East, Asia and other developing regions.

In the quarter ending March 31, Boeing notched higher commercial plane deliveries compared with the year-ago period. Models with gains included the narrow-aisle 737 and the 787 "Dreamliner" plane.

The aerospace giant has been consulting with customers on launching a possible "middle market" plane that would fall between its narrow-body market, which carries up to 200 people and its wide-body design, which typically flies around 300.

The company said it would raise production for the Boeing 767 plane from 2.5 to 3 per month due to strength in the cargo market as industrial demand picks up. (AFP)