Monday, March 21, 2011

Boeing (BA) Jumps on 747-8 Test Flight

The successful completion of first test flight of the Boeing (NYSE:BA) 747-8 over the weekend has pushed up the share price of the company today.

Yesterday, the 747-8I took off for the first time just before 10am from Paine Field with chief 747-8 test pilot Captain Mark Feuerstein at the controls and Captain Paul Stemer to his side. During the flight, the airplane reached about 19,000 feet and flew up to 250kts (288mph). After almost four and a half hours, the 747-8I successfully landed at Boeing Field to a cheering crowd.

Once landed, the plane taxied and waited for all the media to move to a white tent before being towed up closer. Stairs were brought out and the two smiling pilots were greeted by their families and Boeing executives.

“What a great privilege to be at the controls of such a great airplane on its first flight,” said Feuerstein. “And what an honor to share this day with the thousands of men and women who designed and built this airplane.”

There will be two Boeing 747-8I’s completing 600 test hours before being certified for delivery. Boeing is expecting to deliver their first Boeing 747-8 Freighter by the end of the summer and the first Intercontinental by the end of 2011.

Boeing was trading at $71.14, gaining $2.04, or 2.95 percent, as of 12:51 PM EDT.

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