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Boeing Plans $2.5 Billion Charge On 787 Program; First Flight Still This Year

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Boeing [BA] yesterday announced a new flight-test and delivery schedule for its 787 Dreamliner aircraft program but said the initial flight-test planes have no commercial value given an extensive amount of rework to them, resulting in a $2.5 billion pre-tax charge that will be recorded in the third quarter. Boeing said it would update its 2009 financial guidance when it reports third quarter results in October. The company left its guidance intact in June when it first reported yet another…

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