Boeing Delivers 381 Jets, Meets ’02 Goal

Boeing Co. said Monday that it delivered 381 commercial jetliners in 2002 -- the fewest in five years but on target with its lowered estimate in the depressed aviation industry.

The company said it delivered 86 planes in the fourth quarter to finish the year with one more delivery than its goal of 380.

The year’s total was down 28% from 527 deliveries in 2001, when the full effect of the Sept. 11 attacks wasn’t yet evident.

With airlines mired in their worst slump throughout 2002, it was the fewest since 1997, when Boeing delivered 375 jets.

The company also reported that it secured 251 new orders for jets in 2002 -- its lowest tally since 1994. About 65% of the orders, or 162, were for Boeing’s popular single-aisle 737.

The Chicago-based aerospace manufacturer did not have any orders for the single-aisle 757 jet, built in Renton, Wash., south of Seattle. That jet program is facing a dwindling backlog, and analysts have said they expect that Boeing will have to cut its already slowed production rate of about two jets a month.

Competitor Airbus announced orders for 177 jets in its data through Nov. 30. That total does not include a 120-jet deal with British carrier EasyJet that was finalized Dec. 30.

For 2003, Boeing has said it expects deliveries to fall to between 275 and 285 -- which could put the company in second place behind Airbus for production for the first time.

Boeing shares fell 5 cents to close at $34.13 Monday on the New York Stock Exchange.