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Last Updated: Wednesday, 24 October 2007, 15:47 GMT 16:47 UK
Boeing enjoys bumper profit rise
Boeing image of its new plane
Boeing has 706 firm orders for its Dreamliner
Boeing posted its best profit in nearly four years in the third quarter but said delays on its 787 Dreamliner would lower revenue in 2008.

The Chicago-based firm, which vies with Airbus in the medium-to-large passenger plane market, has said the Dreamliner will be at least six months late.

For the quarter ending 30 September, Boeing's profit rose 61% to $1.1bn, from $694m a year ago.

Boeing said it expects to hold test flights of the Dreamliner in March.

The first deliveries will follow in late November or December.

Boeing has been grappling with flight software problems, a shortage of bolts and uncompleted work from suppliers.

Commercial planes

Revenue rose 12% to $16.5bn from $14.7bn a year ago.

Boeing delivered 109 commercial planes in the quarter, up 9% percent from the year-ago quarter, which helped boost sales at its commercial planes unit by 23% to $8.3 bn.

Defence revenue increased a more modest 3% to $8bn, helped by strong sales at its network and space systems unit.

Boeing, which has 706 firm orders for the Dreamliner, will be keen to avoid a repeat of the catastrophic problems suffered by rival Airbus, whose A380 superjumbo was about two years late.

The plane - which is Boeing's first all-new jet since 1995 - was unveiled in July this year.

It is the only big commercial aircraft made mostly of carbon fibre rather than aluminium and is billed as the most environmentally friendly ever built.

Boeing says the 787 is much more fuel efficient than its competitors and produces 20% less carbon dioxide.

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