Boeing executive sees mixed recovery

By Kyle Peterson

LONDON (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.

(Reporting by Kyle Peterson; editing by Gunna Dickson)

Boeing executive sees mixed recovery