Bernstein lowers 787 2012 delivery forecast

Washington DC
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Bernstein Research lowered its Boeing 787 delivery forecast for 2012 in a note issued 23 January.

The company lowered its forecast to 47 deliveries from 52, "which leads to lower revenues and a reduction in our earnings number by $0.01 cents," it said in the note.

"We see the risks as immediate and near term for Boeing's 787," it added.

Bernstein wrote that "the history of development issues is a reason why we are more concerned about the 787 at this stage" than rival Airbus' A350, though Bernstein is not upbeat about the challenges facing Airbus, either.

"The 787 is headed into a production ramp up that appears very difficult, as does the development of the 787-9."

Boeing is still producing the 787 at a low rate of 2.5 aircraft per month, but has more than three dozen 787s sitting at Everett's Paine Field requiring rework.

Bernstein said it does not see the 787 production rate increasing to 10 787s per month until 2014. Boeing's goal is to build 10 aircraft per month by the end of 2013.