Boeing Rues Falling Military Sales

Boeing suffered a 13 per cent year-on-year fall in net profit in Q1 2014, mainly due to a 22 per cent earnings slump in its military business. Boeing Commercial Airplanes, in contrast, celebrated a rise in sales from $10.7bn in Q1 2013 to $12.7bn in the year to April 2014. That translated to a rise in civil aircraft profit from $1.2bn to $1.5bn. Highlights for the quarter included a rise in the 787 production rate to 10 aircraft per month and the delivery of 115 737s, 13 more than the year before. Commercial Airplanes booked 235 net orders during the quarter, taking its backlog to 5,100 aircraft.  

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