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| Version 0 | Version 1 |
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| Boeing sees profits fall by 50% | Boeing sees profits fall by 50% |
| (about 1 hour later) | |
| Aircraft giant Boeing says first-quarter profit fell 50%, after it was forced to make production cuts as airlines cut back on plane purchases. | Aircraft giant Boeing says first-quarter profit fell 50%, after it was forced to make production cuts as airlines cut back on plane purchases. |
| The Chicago-based firm said it earned $610m (£417m), down from $1.21bn a year before. Revenue was up 3% at $16.50bn. | |
| Aircraft orders fell at Boeing in 2009 as passenger numbers fell and airlines bought fewer planes. Air cargo volumes have also been dropping. | Aircraft orders fell at Boeing in 2009 as passenger numbers fell and airlines bought fewer planes. Air cargo volumes have also been dropping. |
| Earlier this year, Boeing said it would cut 6% of its workforce or 10,000 jobs. | Earlier this year, Boeing said it would cut 6% of its workforce or 10,000 jobs. |
| "The expanded global economic downturn is presenting unprecedented challenges in our commercial airplane markets," Jim McNerney, Boeing chairman and chief executive, said. | |
| The airline's shares rose 4% to $38.10, despite the fall in profit, amid analyst relief that the results were not worse. | |
| Tough times | |
| The company made 121 commercial airplane deliveries in the quarter, compared with 115 a year ago. | |
| Boeing also made a loss in the final three months of 2008 after a strike by workers disrupted aircraft deliveries. | |
| The firm has been losing ground to rival European planemaker Airbus, which delivered and received more orders for planes than Boeing last year. | The firm has been losing ground to rival European planemaker Airbus, which delivered and received more orders for planes than Boeing last year. |
| Airlines are expected to cut spending on new jets as the economic downturn hits demand for air travel. | Airlines are expected to cut spending on new jets as the economic downturn hits demand for air travel. |