AEROSPACE

Boeing Profit Declines: The Seattle-based company said its earnings shrank 38% in the first quarter because of a prolonged downturn in the worldwide sales of commercial jetliners. Boeing Co. said its net income fell to $181 million, or 53 cents a share, from $292 million, or 86 cents a share, a year ago. Sales slumped 21%, to $5.04 billion from $6.35 billion. The world’s biggest builder of commercial aircraft said the profit decline was largely caused by weaknesses in its commercial aircraft group, which delivered only 59 jets in the quarter, down from 82 in what was a weak period a year earlier. Revenue from commercial aircraft operations slipped 29% to $3.69 billion.