Airplane manufacturer has announced a large increase in profits for the fourth quarter of the year. In total, revenue has increased by 42% to $17.9bn or £11bn, which is a staggering amount considering the world recession for industries.
The rise on profit meant the airplane maker reported a net income of $1.27bn. This is in stark contrast to a year ago, when the company made a loss of $86m, although this was partly due to a labour strike at the time.
Whilst Boeing is expected to deliver fewer planes in 2010, the first deliveries of the new 787 and 747 planes will see the light of day towards the end of this year.
Jim McNerney, Boeing’s chief executive and chairman commented on the announcement: “We put a strong finish on 2009 by getting the 787 in the air and generating solid core operating performance across the company.”
Shares in the company rose by 7% after the revenue increase was made public. It really does look like all that hard work has paid off – so much so that 2010 could be Boeings best year yet in recent times. If things carry on at this pace, then that is certainly not out of the question. The future for the aviation industry looks bright.