Boeing’s net income rose 20% in the first quarter despite its troubles with the Dreamliner 787.
787 operators will resume flights of their aircraft from Saturday. Ethiopian Airlines will be the first to resume flights of its 787with a commercial flight to Kenya.
Although the grounding cost Boeing an estimated $600 million, Boeing’s net income rose 20% in the first quarter. The US aircraft manufacturer earned $1.11 billion, or $1.44 per share. Excluding pension contributions, Boeing would have earned $1.73 per share, well above analyst expectations.
Revenue fell 3% to $18.89 billion because Boeing delivered just one 787 before the plane was grounded in mid-January because of problems with its batteries.
Boeing said on Wednesday that it will still meet its financial and delivery targets this year, which includes delivery of at least 60 787s.
The company delivered 137 planes during the quarter, because faster production of 737s and 777s offset the lack of 787 deliveries.