Boeing executive sees ‘better days ahead’

NEW YORK – Boeing Co. said Thursday it delivered more aircraft last year than in 2008 and sees even brighter days, relieving some of the market anxiety over production cuts and delivery cancellations.

Shares of Boeing jumped 4 percent Thursday. Since the beginning of the new year, the stock has climbed nearly 15 percent as improving air traffic trends and airline revenue shakes off the specter of capacity cuts later this year.

For comparison, the benchmark Standard & Poor’s 500 Index is up just 2 percent.

Boeing shares are still some 40 percent off their peak in July 2007, versus 25 percent for the S&P.

“2009 was not without its challenges, but it also was a year of exciting achievements for our company and our industry,” said Jim Albaugh, Boeing Commercial Airplanes president and chief executive. “With signs of economic recovery emerging in 2010, we look forward to better days ahead.”

Boeing said it delivered 481 planes in 2009, up from 375 in 2008.

Its commercial airplanes backlog ended the year at 3,375 airplanes, with 142 new orders.

Last year as the economy contracted and airlines reported sharp declines in ticket demand, the Chicago manufacturer said it would cut production of its 777s to five airplanes a month from seven, beginning in June 2010. It also delayed plans to “modestly increase” production of its 747-8 and 767 planes.

“The global recession presided as an oppressive market reality in 2009, driving many carriers to re-evaluate their near- and medium-term fleet requirements,” the company said in a Thursday statement.

Boeing plans to provide its 2010 commercial airplane delivery outlook when the company releases year-end earnings on Jan. 27.

Earlier, rival Airbus said it delivered 498 planes in 2009, up from 483 in 2008 and a new record for the manufacturer, according to a report in La Tribune.