Boeing Co.’s first-quarter commercial aircraft deliveries declined 3.7 percent from a year earlier and were also down from the previous period. The aerospace giant said it delivered 104 commercial airplanes in the latest period, compared with the 108 it had reported for the year-earlier period and 116 in the fourth quarter.
Boeing had said in January it plans to deliver 485 to 500 new commercial jets this year, up from 462 last year. That includes 25 to 40 of its new 787 and 747-8 aircraft, which have been plagued by multiple delays.
The company has benefited lately from a sharp rebound in demand for commercial airplanes–but the impact of events such as the rise of fuel costs and travel disruptions related to last month’s disaster in Japan have led some carriers to scale back capacity plans. Its defense business faces a Pentagon budget set to grow at a slowing pace in coming years.
At defense, space and security programs, most of its deliveries were F/A-18E/F and EA-18G fighter planes.
Archrival Airbus–a unit of European Aeronautic Defense & Space Co NV — has said it had delivered 199 aircraft over the first quarter.
Shares recently traded at $74.31, up 0.8 percent. The stock has gained about 3.1 percent the past year.