Boeing reports massively improved profits as Airbus struggles

Boeing reports massively improved profits as Airbus struggles

US based aircraft manufacturer Boeing has released its latest quarterly report and the company has reported that its fourth-quarter profit doubled on increased deliveries.

They also benefitted from the weak position of Airbus in the market who is struggling to deliver their new models to their clients who are increasingly placing orders to Boeing.

Boeing has also now raised its 2007 earnings forecast. The company’s net income climbed to $989 million, or $1.29 a share and sales were up 26 percent to $17.5 billion.

This report helped the company at the stock market at their share jumped $3.56 to $89.56 at 4 p.m. in New York Stock Exchange composite trading.

Boeing’s Chief Financial Officer James Bell said in a statement on this report: “Order totals get a lot of attention but executing on our backlog is what really counts.”