Well sort of.
Boeing has finally come clean that they have real problems in the 787 program and indeed in all their supply chain. While not giving us the details perhaps we would like, I can live with that provided that they have really changed the culture on the program again and indeed in the company.
We all want Boeing to succeed, (unless of course you happen to be an Airbus Salesman!). this program is not only incredibly complex but a generational change in the way that Boeing has done business. Sadly they threw the baby out with the bathwater. Hoping to solve the perennial problems of supply and high cost of new aircraft development - they took on partners to risk and develop share. This has turned out to be a big mistake. Other companies don't necessarily work like Boeing and vice versa. The time line was WAY too aggressive. The manufacturing philosophy was in hindsight also unworkable.
Boeing is not of course coming totally clean on the issue of the causes of the delay to the 787. We have not really heard a mea culpa from them. Indeed the last delay has been laid at the door of Strike by machinists. That of course is rather unfair to the machinists and illogical as well as inaccurate.
Boeing has a lot of work to do to fix the program. Frankly we believe that the (now 5th announced) delay is still not enough. They really should consider our advice to junk the first 4 aircraft and start with ship 5 as the prototype. This is not without precedent at Boeing.
So to quote Rob Stallard of Macquarrie Equities in his advice to clients, the plane has a new moniker - Dreamliner no more it is now the "seven late seven" or to the rest of us 7L87.
Cheers
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