Interview courtesy of Fox Business Network

JIM MCNERNEY TELLS FOX BUSINESS NETWORK THAT HE’S AMAZED BY THE ECONOMY’S RESILIENCY

In a broadcast interview with FOX Business Network’s Connell McShane in advance of its 3rd quarter earnings report due out tomorrow, Boeing CEO, Jim McNerney, talks about the effect of rising oil prices on his business, potential fallout from the delay of the 787 and the competitive landscape with regards to Airbus. Below are his comments

On the effects of rising oil prices:

“I’ve been amazed by the economy’s resiliency as it absorbs oil price increases…I think the global economy can absorb some more but it can’t go on forever. It will begin to have an economic impact.”

On the potential fallout from the delay of the 787:

“I think our customers have been good and we tried to get to them early enough so we could work together to solve any scheduling issues this slip has presented. I think things are working well.”

On the Airforce considering Airbus to make the next Airforce One:

“I’m unaware of this competition, and if there were one, I’d encourage the Airforce to get the best plane they could. A level playing field would be fine as far as we’re concerned.”

On the health of his business:

“Business is good. We’re at one of the strongest order cycles we’ve been at in years. We’re on track to duplicate what we’ve done the last couple of years.”

On the state of the economy:

“I think there’s a little bit of slowdown in the United States but a lot of robustness outside of the United States. The current replacement cycle of airplanes is driven by efficiency, fuel consumption as well as pure growth so it impacts us a little later than it impacts other industries. “