Boeing (BA) Working To Make 787 More Reliable

NEW YORK (TheStreet) -- Boeing (BA) is still working on improving the reliability of its 787 Dreamliner, which currently has a reliability rate of 98%.

Shares of Boeing fell 2.7% to $137.52 on Friday.

The 98% reliability rate means that two out of every 100 flights are delayed. At a news conference in Olso, Norway, Boeing vice president of 787 services and support Mike Fleming said, "We're not satisfied with where the airplane is today, flying at a fleet average of 98 percent. It's going to take us time, just as it did on the 777."

Fleming said the 777 flies at a 99.4% reliability, which he hopes to attain with the 787.

Boeing now produces 787 Dreamliner jets at the rate of 10 planes per month. The first plane produced at this rate rolled out Friday, destined for International Lease Finance for use by Aeromexico.

TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate BOEING CO (BA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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