Boeing deliveries rose to 121 planes in first quarter

Boeing Co. delivered 121 aircraft in this year's first quarter, six more than a year earlier, as the world's second-largest commercial-plane builder benefited from a record backlog from airlines seeking more fuel-efficient jets.

Boeing also had 28 new orders and 32 cancellations from January through March, ending the quarter with a net decline of four orders, the Chicago-based company said today. There were 115 shipments a year earlier, according to its Web site.

Deliveries, which are when Boeing gets paid, are set to rise this year to 480 to 485 aircraft and to remain stable through at least mid-2010, the company has said. Boeing is studying production rates for next year as the recession weakens travel demand and tightens financing options, forcing carriers to cancel or defer orders. Airbus SAS, the only larger planemaker, said today it's targeting 483 deliveries this year.

The planemaker is working to return to its growth plan after shipments dropped 15 percent to 375 last year because of a two-month machinists' strike that idled factories in the Seattle-area manufacturing hub.

Boeing shipped 23 777s, its most profitable model, as well as four 747 jumbo jets, three 767s and 91 of its 737s, the world's most widely flown commercial plane, the company said in a statement today.

All 32 of the first-quarter cancellations were previously reported and were for Boeing's delayed 787 Dreamliner. Boeing aims to fly the 787 for the first time by the end of June and ship the first aircraft in early 2010.

Boeing's commercial chief, Scott Carson, last month said carriers are still anxious for new planes to replace less fuel- efficient models in their fleets, even if they are reluctant to expand. The company could cut output by about 10 percent next year if the air-travel market deteriorates further, he said.

Airbus anticipates that deliveries may drop as much as 15 percent next year in a worst-case scenario before picking up again in 2011, the company's chief salesman told analysts today.

A target of 483 deliveries this year should still be achieved, John Leahy, who is also chief operating officer, said today in a presentation to analysts, according to two people present at the briefing in Broughton, north Wales.

For the first three months, Airbus won 8 orders, net of cancellations, according to today's presentation. That compares with a net intake of minus 8 through February, resulting from 14 cancellations and just six new orders.

Boeing rose $2.19, or 6.2 percent, to $37.63 at 11:17 a.m. in New York Stock Exchange composite trading. The shares have declined about 51 percent in the past year.