Overview
- CEO Kelly Ortberg told investors the 777-9 certification effort is running behind plan, though he reported no new technical issues during flight tests.
- Boeing says the aircraft and GE Aerospace engines are technically ready, yet test flights will not count toward certification until each phase is cleared by the FAA.
- The company will publish a revised 777-9 schedule alongside its third-quarter results in October.
- The program is roughly six years late, and a first delivery to launch customer Lufthansa that had been targeted for next year now appears uncertain.
- The latest setback pressures major buyers including Lufthansa and Emirates, and Boeing shares fell about 3% after Ortberg’s remarks.