The Boeing 767: An Unlikely Port in the Current Storm
Boeing (NYSE: BA) has been building the 767 for four decades: an incredibly long time for a single generation of a commercial jet. In theory, it ought to be obsolete: Boeing and top rival Airbus have each introduced multiple new wide-body jet models since the 767 entered service in 1982. Yet despite the model's age, the 767 is still going strong, with a steady stream of orders and deliveries. Indeed, it has become an increasingly important contributor to Boeing's financial results lately. Let's take a look.
Boeing began developing the 767 nearly half a century ago. The model sold well during the 1980s and 1990s, but demand plunged after the 9/11 attacks decimated the global airline industry. The launch of the 787 Dreamliner a few years later caused demand to erode further.
Indeed, whereas Boeing booked 242 gross orders for 767s between 1997 and 2001, the 767 family brought in just 55 orders between 2002 and 2006. Meanwhile, 767 deliveries plunged from an average of more than 40 per year between 1997 and 2001 to an average of just 11 annually from to 2004 to 2010. The 767 appeared to be well past its prime and nearing the end of production.
Source Fool.com
