Boeing Co. seeks buyers for its earliest 787 Dreamliners estimated to 1.1 billion dollars

According to people familiar with the matter, Boeing Co. is currently trying to find buyers for 11 of its earliest 787 Dreamliners, which are estimated to 1.1 billion dollars. The company is making this step after two airlines cancelled their orders for the models remnant jets.

The jets are currently partially completed and have been parked for about four years near a plant located in Seattle. The building process of the Dreamliners was started by Boeing Co. before the company got certification in the U.S. in 2011. A record inventory has been amassed, including many older versions that required extensive repair in order to meet federal standards.

The people with knowledge of the process, who asked not to be named because the negotiations are not public yet, reported that Boeing Co. is planning to start improving on its early 787 models, which are considered as the last ones to be fixed. The company is also trying to increase its sales.

One of the aerospace analysts, who work for Teal Group – Richard Aboulafia, said for Bloomberg that the work shows the “diversion of personnel and resources needed to deal with unprofitable aircraft.” Mr. Aboulafia also said: “It is a commentary on plans gone badly wrong.”

The marquee jet that is the first airliner, which is built not of aluminium, but mainly from composites, ran more than three years late as Boeing Co. was trying to mend flaws associated with the carbon-fibre materials, onboard systems and a manufacturing process relying mainly on suppliers.

The industry knows the early Dreamliners as the “terrible teens” due to problems in the assembly-line order and factory troubles. They are also heavier than the other 787 units because of custom-fitted reinforcements.

A Boeing spokesman in Seattle – Mr. Dough Alder refused to provide any more details when asked and said in an e-mailed statement, which was cited by Bloomberg: “We are actively marketing those airplanes and have several available opportunities.”

One of the people familiar with these issues explained that PT Garuda Indonesia and Malaysia Airline System Bhd. have been approached by Boeing Co., as well as carriers situated in Latin America and Middle East.

Boeing Co.s shares rose by 1.02% on Monday in New York and settled the session at $129.59, marking a one-year change of +69.05% and a market value of $96.34 billion. According to CNN Money, the 22 analysts offering 12-month price forecasts for Boeing Co. have a median target of $154.50, with a high estimate of $175.00 and a low estimate of $135.00. The median estimate represents a +19.22% increase from the last close.