Boeing Cites Progress on 787 Weight Reduction

By Bloomberg, AP and Staff Reports

Boeing Co. is midway to achieving its goal of reducing the weight of its new 787 Dreamliner by 2 percent, CEO James McNerney said Tuesday.

“We’re halfway to our weight reduction goal and continue to take weight out,” McNerney told investors at SG Cowen & Co.’s Aerospace and Defense conference in New York. “I’m more confident than normal.”

Boeing’s suppliers are producing lighter parts aimed at reducing the plane’s weight by about 5,000 pounds, he said.

Among suppliers is Spirit AeroSystems Holdings Inc., which is producing wing components for the 787 at its Tulsa plant.

Other suppliers include Mitsubishi Heavy Industries Ltd., Kawasaki Heavy Industries Ltd., Fuji Heavy Industries Ltd. and Finmeccanica SpA’s Alenia unit.

“We’re making good progress with the heavies in Japan,” McNerney said. “There’s still some schedule pressure, but less. There’s more effort to get everybody going.”

The 787 is still slated for delivery in May 2008, he said.

McNerney also said he is satisfied with President Bush’s newly unveiled budget, commenting that proposed spending on defense is at least as good as Boeing — the nation’s second-largest military contractor — expected and maybe better.

“So far, so good,” he said.

The $2.9 trillion budget released Monday calls for the Pentagon to get $624.6 billion, up 4.1 percent.

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