"We are deeply disappointed by what this delay means for our customers, and we are committed to working closely with them as we assess the impact on our delivery schedules," Boeing CEO Scott Carson said in a statement.

Airbus-esque?

Analyst C. Leonard Bauer, formerly of Prudential, told BloggingStocks Wednesday that Boeing's second 787 delay constitutes a setback for the 787, for the company, and for investors -- a setback "that can't be repeated."

"One minor delay is not a huge matter, but a second delay, that sends a signal to institutional investors that the initial build is not going well, and that's not a positive for return on investment," Bauer said. "Also, the fact that Boeing again cited parts as a reason for the delay is not good because it raises the question of ongoing shortages in the months ahead, and possible further delays."

Airbus, which has encountered numerous delays with its A380 super-jumbo jet and with its A350, a competitor for the 787, has developed a reputation as being "notoriously behind schedule" Bauer said. That's a reputation that Boeing does not want to match.

"It's absolutely essentially that a commercial aviation company deliver planes on time to airlines," Bauer said. "For the big airs [large airlines], time is money, hundreds of millions of dollars, and it can wreak havoc on a business model." Bauer added that he's reasonably confident Boeing will be able to deliver its first 787 in early 2009. Bauer added that he does not own Boeing's shares.

Global battle

United States-based Boeing and European Union-based Airbus are engaged in a global battle not only for market share of commercial airline miles flown, but also for which air travel model will best meet the needs of travelers in the initial decades of the 21st century.

Airbus argues that super-jumbo air travel, which features lower ticket prices, larger seating capacity and longer ranges, will be the flight most preferred by airlines and air travelers.

Conversely, Boeing argues that point-to-point air travel will be the era's defining air travel flight, and that customers, frustrated and fatigued by the existing hub-and-spoke system, will flock to airlines that offer fast, non-stop, point-to-point flights.