Boeing fourth-quarter profits handily beat Wall Street expectations, but its outlook for earnings in 2012; hampered by lower defense spending and higher employee pension costs; fell short of analyst estimates.
Jim McNerney, Boeing chief executive officer, said during a conference call Wednesday that 2011 was a "pivotal year for our company." "Looking back at 2011, I think it would be tough to find another year that included such a broadbased set of achievements," he says.
Among those achievements was delivering the first 787 Dreamliner airplane to Japanese airline, ANA. The 787 is a twin-aisle plane that offers the best fuel economy and range for a craft its size and promises passengers far greater comfort while flying. This year, Boeing is expected to deliver several 787s to United Airlines, the first North American airline to take delivery of the much-anticipated planes.
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