Boeing delays test flight, delivery of 787

Boeing Co. has further delayed the initial test flight and delivery of its highly anticipated 787 jetliner, citing the impact of a recent strike and lingering production problems.

The Chicago-based aerospace company said Thursday it was pushing back the inaugural flight of the next-generation passenger jet to the second quarter of 2009 and the first delivery to between January and March of 2010.

The delay put the planned delivery of the first 787 nearly two years behind the original schedule and was the latest in a series of setbacks for the plane, touted for its potential to offer higher fuel efficiency than other large jets due to its construction from lightweight carbon fiber composite parts.

Also Thursday, Boeing said it was restructuring its commercial aircraft operations to improve plane development and production, as it strengthens oversight of its global supply chain.

Shares of the company slid $1.41, or 3.4 percent, to close at $40.27 on Thursday. Boeing stock has lost more than half its value since the beginning of the year.

The airplane maker said the revised 787 production schedule reflects disruption caused by an eight-week strike by thousands of Machinists’ union workers and efforts to replace certain fasteners on early production aircraft.

The strike, which ended early last month, forced Boeing to close its commercial aircraft factories in the Seattle area and cost the company an estimated $100 million per day in deferred revenue.