"Although Boeing Co. (NYSE: BA) has had a tremendous run, I'm still a believer," says Glenn Rogers, contributing editor to Gordon Pape's Internet Wealth Builder.

He explains, "Given the crazy markets we are experiencing, I believe Boeing has some defensive qualities that should prove helpful while we wait to see whether we have a recession on the near-term horizon.

"For some time, the upstart European consortium that produces Airbus was kicking Boeing's behind and carving deeply into the U.S. company's market share. Things looked bleak for a number of years.

"Then, someone had the bright idea to launch the 787 Dreamliner, a sleek, fuel-efficient plane that seems perfectly designed for the global warming world of the 21st century.

"Airbus, on the other hand, decided that bigger was better and placed its bets on a Superjumbo jet, the A380. It's a double-deck behemoth that can cram as many as 853 passengers into an all-economy configuration.

Boeing Co. (NYSE: BA) today reaffirmed its outlook for 2007 and 2008. The outlook, which calls for strong double-digit earnings and revenue growth, is consistent with the new 787 Dreamliner jet. Naturally, the stock is down 0.9% to $95.59 with less than an hour left in the trading day. Investors, or at least it seems these days, always want more. The outlook in numbers: $4.55-4.75 earnings per share (EPS) and $64.5-65 billion in revenue for 2007; $5.55-5.75 EPS and $71-$72 billion in revenue 2008. The company will probably pay higher dividend for 2008.

These are crucial times for Boeing. The company has 568 orders lined up from 44 companies for the new jet and had just opened an assembly plant for the Dreamliner on Monday in Everett, Washington. The 787 parts will be flown from all over the world and be put together into the Dreamliner in the new plant.

July 8 was set as the date the first airplane should be ready with the first flight scheduled for mid-August. That's provided everything works well, of course. All Nippon Airways, Boeing's first customer, should receive its first Dreamliner in May, 2008. It's definitely crunch time for Boeing, as Stanley Holmes writes in BusinessWeek. So if there are no more delays from suppliers (as there have already been), other production challenges, and if Boeing can overcome the fastener shortage (currently the fuselage is held by temporary fasteners), then, perhaps, Boeing might make it in time and start collecting the money -- most of the money is collected during the delivery.

To add to investors' concerns, Boeing's Chief Executive Jim McNerney said that he expects a third airplane maker to emerge, probably in China, to challenge Boeing and its rival Airbus in coming decades. However, McNerney also said Boeing is considering buying back additional company stock.

No doubt there are challenges ahead in Boeing's near-future, but I trust the company can overcome them relatively painlessly if the path it took to where it is today with the Dreamliner is any indication of management and engineering quality.

Boeing Co. (NYSE: BA) just got two more orders for its new carbon-composite 787 Dreamliner jet. At list price, these orders are worth more than $7 billion, although discounts are norm in the industry.

Air Canada said today it is increasing its original purchase of the 787 commercial aircraft by 23 planes, raising the total order to 37. Deliveries of the plane would start in 2010. The 23 planes carry a list price of about $3.7 billion. Air Canada also reduced its original Boeing 777 firm order by two.

Meanwhile, according to different sources, Virgin Atlantic Airways will also buy 15 planes valued at $2.8 billion at list prices with an option buy up to 24 Boeing 787s Dreamliners.
Virgin and Boeing also announced an environmental partnership that includes a joint biofuel demonstration aimed at developing sustainable fuel sources suitable for commercial jet engines and the aviation industry. The demonstration is being worked jointly with GE Aviation and Virgin Fuels.

Many 787 parts are made of carbon-fiber composites, which are lighter than the metal usually used to build aircrafts, making it more fuel-efficient and resistant to corrosion. The Dreamliner uses 20% less fuel compared to similar sized airplanes and provides airlines with up to 45% more cargo revenue capacity. It is designed to have lower carbon emissions and quieter takeoffs and landings. There is also a new interior environment with higher humidity, wider seats and aisles, larger windows, and other conveniences. The Dreamliner is scheduled to make its first flight in August and to enter commercial service next year.

So far, the Boeing 787 Dreamliner is a big hit with 544 orders from 44 customers (not including today's announced orders). As BA shares reached a new 52-week high today, do they still have room to soar with its Dreamliner? Remember, Prudential upped its target on BA to $103 just yesterday.

Just when you think Airbus is about to finally assert itself -- perhaps right itself is the more appropriate phrase -- against Boeing Co. (NYSE:BA) in the commercial aviation sector, up pops another gremlin.

On Tuesday, word surfaced that Airbus' co-owners Germany and France were again at odds, this time over the size of expected job cuts at the world's second major commercial jet manufacturer.

France and Germany jointly control Airbus through ownership of its parent company EADS. EADS' shares closed Tuesday in Europe at €25.95, up 11 cents. Boeing's shares closed Tuesday at $91.03 up 9 cents.

French Prime Minister Dominique de Villepin said Tuesday he had talked with German Chancellor Angela Merkel about Airbus's difficulties and confirmed that the company is seeking to slash 10,000 jobs as part of its restructuring plan. German politicians suspect Toulouse-based Airbus's French management of forcing German workers to bear a disproportionate share of the cuts. Arnaud Lagardere, the head of a French coalition, does not deny that his country is trying to protect France-based jobs.