Monday, December 20, 2010

Boeing: Boeing-built C-17 Fleet Surpasses 2 Million Flight Hours

LONG BEACH, Calif., Dec. 20, 2010 -- The worldwide fleet of C-17 Globemaster III airlifters built by The Boeing Company [NYSE: BA] surpassed 2 million flying hours during an airdrop mission over Afghanistan on Dec. 10. Reaching 2 million flight hours equates to 1.13 billion nautical miles – the equivalent of a C-17 flying to the moon and back 2,360 times.

The representative mission, flown by a U.S. Air Force C-17, airdropped 74,000 pounds of jet fuel in support of U.S. and coalition troops just south of Kabul.

The C-17 has a mission readiness rate of more than 85 percent. It is the world's only strategic airlifter with tactical capabilities that allow it to fly between continents, land on short, austere runways, and airdrop supplies precisely where they are needed.

"There's tremendous satisfaction in knowing that in those 2 million hours, the C-17 fleet has saved countless lives around the world," said Bob Ciesla, Boeing C-17 program manager. "Boeing congratulates the U.S. Air Force and our international C-17 customers on reaching this milestone. We’re very proud that the C-17 continues to exceed expectations for performance and reliability."

The C-17 fleet, now in its 17th year of service, has supported humanitarian and disaster-relief missions worldwide. With 226 airlifters in service around the world, the C-17 fleet continues to operate at an accelerated rate due to the recent troop surge in Afghanistan, reaching the 2 million flight-hours milestone less than five years after reaching 1 million flight hours in March 2006, when 152 C-17s were in service. This year, lifesaving aeromedical evacuations of wounded troops from Afghanistan and Iraq, along with relief missions for natural disasters such as earthquakes in Pakistan, Chile and Haiti, have intensified the C-17's normal workload.

Boeing helps keep the C-17 flying through a worldwide support and sustainment program. "Boeing has had the honor of supporting the entire C-17 fleet since the delivery of the first aircraft to Charleston Air Force Base in 1993," said Gus Urzua, program manager for the Boeing C-17 Globemaster III Sustainment Partnership. "Through innovative Performance-Based Logistics contracting and partnering with the Air Force, we have maintained the highest level of aircraft readiness while continuously reducing the cost of ownership."

While providing relief to Haiti in January and February, C-17s delivered nearly 14,000 short tons of cargo and transported some 25,000 passengers and 280 patients. C-17s also played a key role in a record year for airdrops in support of Operation Enduring Freedom in Afghanistan. As of Oct. 31, C-17s and other airlifters have airdropped more than 45 million pounds of cargo to troops in remote locations.

Boeing has delivered 20 C-17s to international customers. The U.S. Air Force -- including active duty, National Guard, and Air Force Reserve units -- has taken delivery of 206. Other customers include the U.K. Royal Air Force, the Canadian Forces, the Royal Australian Air Force, the United Arab Emirates Air Force, the Qatar Emiri Air Force, and the 12-member Strategic Airlift Capability initiative of NATO and Partnership for Peace nations. India is expected to be the next C-17 customer.

A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $34 billion business with 68,000 employees worldwide.

Boeing: Boeing-built C-17 Fleet Surpasses 2 Million Flight Hours

Boeing to Increase 777 Production Rate - Dec 20, 2010

SEATTLE, Dec. 20, 2010 /PRNewswire/ -- Boeing (NYSE: BA) today announced its production rate for the 777 program will increase to 8.3 airplanes per month in the first quarter 2013. This is the second production increase announced for the program this year. In March the program announced it would increase production from five to seven airplanes per month beginning in mid-2011.

"In response to strong customer demand globally, we are increasing our yearly production to 100 777s," said Boeing Commercial Airplanes President and CEO Jim Albaugh. "The 777 is the twin-aisle market leader because of its superior operating economics, unmatched range and preference among travelers' needs."

The 777 has a large installed operator base, and a track record of proven performance including 1,163 orders, 907 deliveries and a backlog of more than 250 airplanes. Suppliers are prepared to support the rate increase.

Watch a video on what customers have to say about the 777 airplane: http://bit.ly/elmgWE.

The current production rate decision is not expected to have a material impact on 2010 financial results.

Forward-Looking Statements

Certain statements in this report may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "plans," "projects," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements. Forward-looking statements are based upon assumptions about future events that may not prove to be accurate. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak to events only as of the date they are made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws. Specific factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, statements we make regarding our guidance relating to future financial and operating performance, the effect of economic conditions in the United States and globally, and general industry conditions as they may impact us or our customers, as well as the other important factors disclosed previously and from time to time in our other filings with the Securities and Exchange Commission.


Boeing to Increase 777 Production Rate - Dec 20, 2010