...July 14, 2021 WASHINGTON D.C. (S&P Global Ratings) July 14, 2021--Boeing Co. (###-/Negative/A-3) recently announced that it has discovered additional quality issues with its 787 jetliner and is cutting production rates temporarily to redirect resources to the fix the defect on aircraft already built but not delivered. It also now expects to deliver less than half of the approximately 100 787s that are in inventory due to the previously discovered defects, down from its previous expectations of delivering "the vast majority" of the jets. Deliveries were halted late last year when production issues were discovered and resumed briefly in April before being paused again as the Federal Aviation Administration examines the process Boeing was using to determine which aircraft need to be fixed. We now expect the company to only deliver 60-70 787s this year, down from our previous forecast of 90-100, which will result in our forecast for full-year 2021 free cash outflow increasing to $5 billion...
