AIRSHOW-UPDATE 1-Boeing executive sees mixed recovery

By Kyle Peterson

LONDON, July 18 (BestGrowthStock) – The recovery of the global
economy has been mixed, and orders from U.S. airlines are
lagging carriers from other countries, the chief executive of
Boeing Co’s (BA.N: ) commercial airplanes division said on
Sunday.

“You look at the recovery around the world. It’s a mixed
recovery,” Jim Albaugh told reporters on the eve of the
Farnborough Airshow.

Boeing, the second-largest plane maker, and its larger
rival Airbus (EAD.PA: ) have been hit in recent years by an
economic downturn that drained travel demand and caused
carriers to curb orders. U.S. carriers, in particular, have
been hesitant to buy new aircraft.

The airshow outside of London often serves as a
high-profile venue for plane makers to unveil orders. Albaugh
declined to identify which customers had placed orders,
although aviation sources told Reuters on Saturday that
Emirates airline is set to place a $5 billion order for 20
Boeing 777 wide-body jets.

“You will see some orders from some new people this week,”
Albaugh said.

Boeing recently announced plans to increase production
rates on some of its popular aircraft — such as the
narrow-body 737 — to meet improved customer demand.

A “question mark” still lingers over whether the aircraft
supply chain can support increased aerospace production,
Albaugh said.

He reiterated that Boeing still aims to make its first
delivery of the long-delayed 787 Dreamliner by the end of the
year. But he repeated earlier warnings from Boeing executives
that the first delivery could slip to 2011 due to issues that
have arisen during flight test.

Boeing landed a Dreamliner at Farnborough — the first trip
outside the United States by the plane — on Sunday.
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(Reporting by Kyle Peterson; editing by Gunna Dickson)

AIRSHOW-UPDATE 1-Boeing executive sees mixed recovery