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Two new Dreamliners pulled from sales inventory, consigned to R&D roles
US PLANEMAKER Boeing is taking two of its 787 Dreamliners out of the sales inventory, and reclassifying them as research and development (R&D) aircraft.
The write-down is going to shoot the company's non-cash, after tax charges on the balance sheet up, reports New York financial news site BidnessEtc.
The company also decided not to double the production capacity of the 747-8 jumbojet, from one unit every two months, which indicates it has little potential for the future.
"These are the right, proactive decisions to strengthen our business going forward," said Boeing chairman, president and CEO Dennis Muilenburg.
Agreeing, Boeing vice president and CFO Greg Smith said: "These are prudent actions that reflect market realities, reduce future financial risk and ultimately drive value to our shareholders."
All in all, Boeing's commercial aircraft segment is expected to incur total costs of US$2.78 billion on a pre-tax basis, while the Defence, Space & Security segment will report earnings of $219 million.
The write-down is going to shoot the company's non-cash, after tax charges on the balance sheet up, reports New York financial news site BidnessEtc.
The company also decided not to double the production capacity of the 747-8 jumbojet, from one unit every two months, which indicates it has little potential for the future.
"These are the right, proactive decisions to strengthen our business going forward," said Boeing chairman, president and CEO Dennis Muilenburg.
Agreeing, Boeing vice president and CFO Greg Smith said: "These are prudent actions that reflect market realities, reduce future financial risk and ultimately drive value to our shareholders."
All in all, Boeing's commercial aircraft segment is expected to incur total costs of US$2.78 billion on a pre-tax basis, while the Defence, Space & Security segment will report earnings of $219 million.
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