Boeing to delay first 787 deliveries by 6 months

Airbus still has not recovered from its own problems introducing the A380. The lengthy delays, due largely to wiring problems, wiped billions of dollars off its parent company's profit forecasts for the coming years and sent many orders to Boeing.

The announcement yesterday is not likely to cause such turmoil for a highly anticipated plane that has 710 orders from 50 customers and is sold out through late 2013. Airbus' planned A350 mid-sized wide-body aircraft isn't due to hit the market before 2013.

But analysts cautioned another delay would be more troubling.

"Just because the delivery date has been changed, customers are not going to be canceling," said Morningstar analyst Brian Nelson. "It's not as difficult to build as the A380. ... If things extend beyond the six-month delay and we start getting closer to a year, then I start getting worried."

All Nippon Airways issued a statement expressing its disappointment.

"We regret that delivery of the 787 will be delayed and we hope to keep the impact of the delay to a minimum," spokesman Damion Martin said.

Boeing shares, which had moved higher before the late-morning announcement, quickly tumbled and shed US$2.77, or 2.7 percent, to US$98.68 by day's end in heavy trading.

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