Production to increase as Boeing posts increased profits on lower revenues
Boeing is moving forward with plans to ramp-up production by 40% over the next three years to alleviate its backlog of more than 3400 aircraft and growing customer demand, said the company during its earnings call yesterday. It announced it beat analysts' expectations by posting net profit of USD586 million for the first quarter, up 13% from 1Q2010. The profit came on revenues of USD14.9 billion, down 2%.
