Boeing's 3Q Aircraft Deliveries Plunge 23%, Affected By Strike

Seattle, WA (AHN) - The strike at The Boeing Co. (NYSE: BA) affected the number of deliveries in the third quarter as shipments of aircrafts declined by 23 percent, the company said in a statement on Friday.

Boeing Co. is one of the leading companies in manufacturing sector that exports products of higher values and based on the dollar value against other currencies, the delayed exports can further harm the U.S.'s economic growth.

The firm said it delivered 84 commercial aircraft in the quarter, down from 109 jets shipped a year earlier in the period.

The company delivered 67 single-aisle 737 model, which are the world's most widely flown aircrafts, compared to 81 shipments a year ago.

Boeing also shipped four 747 jumbo jets, two 767s and 11 777s in the quarter. The firm's year-to-date deliveries, including the latest quarter shipments, reached 325 aircrafts compared to 329 shipped in the same period in 2007.

The strike began on Sept. 6, with the walkout by the company's almost 27,000 machinists, crippling the production of aircrafts at its United States plant including the manufacturing of the 787 Deamliner, which is their new plane in the pipeline.

With the delays in production, the analysts are expecting $100 million to $110 million a day loss from Boeing's continuous strike and it will further push the scheduled first flight of the 787 Dreamliner into early next year.

Boeing Co. is expected to produce at least 40 airplanes every month to reach its 2008 projected deliveries. The economists are concerned about the losses faced by the company if workers drag the strike for more than three months.

Its larger commercial rival, Airbus SAS, had delivered 315 through the month of August. The Toulouse, France-based leading plane-maker is yet to announce its September deliveries, which are expected to be higher compared to Chicago-based Boeing.

Shares of Boeing gained by $1.39, or 2.59 percent, to $54.97 at 2.15 p.m. ET in New York Stock Exchange composite trading on Friday.