First-quarter earnings for Boeing Co. fell 14 per cent on fewer jet deliveries and special charges, the world's second- largest commercial aircraft maker said Wednesday. Its net income fell to 535 million dollars, or 66 cents per share, from 623 million dollars, or 77 cents a share, from the same quarter a year ago, DPA said. Sales rose 1 per cent to 13 billion dollars, said Boeing, which is headquartered in Chicago with its major manufacturing facilities in the U.S. state of Washington. The earnings were better than analysts had predicted but the rate of growth fell as Boeing delivered 70 planes, six fewer than the first quarter of 2004, as it lost sales to larger rival Airbus SAS. Boeing also had special charges for the quarter from the sale of some of its assets, including Electron Dynamic Devices, and an accounting change. However, orders for the quarter rocketed up 81 per cent to 65 planes. In addition, Boeing's earnings report came after two days in a row of announcements of multibillion-dollar orders. The first for 6.1 billion dollars was from Air Canada, followed by 6.9 billion dollars from Air India. Boeing is locked in a battle with Airbus for market dominance. The U.S. aircraft maker is banking on its long-range, mid-sized 787 Dreamliner, which is to debut in 2008 and is to cost 30 per cent less to operate than the 767, which is it replacing. Airbus, meanwhile, is betting on its A380 superjumbo jet, which completed its maiden flight Wednesday in France. The A380 will seat 555 to 853 passengers when it debuts next year, compared with the 223 to 296 passengers of Boeing's 787.
