Boeing Says 17 Plane Cancellations In Last Week

Boeing said Thursday it had 17 cancellations for its commercial aircraft in the last week, including a previously reported cancellation of 15 of its delayed 787s.

The company's latest weekly update of orders on its website also showed nine new orders for its commercial aircraft.

For the year to date at June 30, Boeing had 85 gross orders and 84 cancellations, for a net total of one plane for 2009.

Boeing also said in a statement on Thursday that it delivered 125 commercial aircraft during the second quarter, bringing total deliveries to 246 for the year to date.

The 2009 second-quarter delivery tally compares with 126 commercial aircraft delivered in the year-earlier second quarter.

Deliveries for commercial planes do not "seem to be anything unusual," said Alex Hamilton, an analyst with Jesup & Lamont Securities.

"Where I think we really don't have visibility, which is more of a driving concern for the stock, is what orders are going to be, deliveries potentially in 2011 and beyond."

Boeing's shares have retreated since the plane maker announced last week that it would postpone the test flight of its 787, which had been set to take place during the second quarter.

The company cited a structural flaw, but did not give an expected future flight date for the 787, which is already two years late.

Of the 17 plane orders dropped in the latest week, 15 were tied to the previously reported cancellation of 787s from Australia's Qantas Airways. Qantas cited the flagging economy for its move, not the latest delay.

The company's shares closed USD$1.40, or 3.3 percent, down at USD$40.83 on the New York Stock Exchange. Boeing shares are down about 4 percent so far this year.