Raytheon stops 787 shipments, as Boeing's Dreamliner pain spreads to suppliers
$Boeing(BA.US$closed -1.5% in yesterday's trading after $RTX Corp(RTX.US$said it had paused shipments for the 787 Dreamliner, as the planemaker's problems create difficulties for suppliers who expect production of the widebody jets to remain low into next year.
"We are not shipping anything today on 787," Raytheon CEO Greg Hayes said on today's earnings conference call, according to the Wall Street Journal.
The company supplies ~$10M in parts and equipment, such as cockpit systems, for each of the jets.
Earlier this week, $Albany International(AIN.US$, which specializes in composite materials, cited low 787 production in forecasting just ~$10M in revenues from the program this year compared with $50M in 2019.
Boeing is increasingly expected to resume 787 deliveries early next year, later than previously anticipated, WSJ reports.
Boeing earlier this year said it was temporarily cutting its Dreamliner production from a planned rate of five per month.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Harper lee : The GOP and the Dems both have lost any sense of moral high ground period and are the last people I would want caring about my child’s mental well-being. The politics in this country on both sides makes me sick.
let's have mental health data on House GOP members.
William Paul Harper lee: Yet Pelosi is ok? They all are insans
arts food business William Paul: It’s contagious in Washington