Boeing Co. is expecting strong growth in 2014 despite the continuing threat of military cutbacks.
The Chicago-based aerospace giant and defense contractor has set revenue expectations between $87.5 billion and $90.5 billion, or between $6.10 and $6.30 per share, which is in line with analysts’ expectations.
Boeing chairman and CEO James McNerney said the increased global demand for fuel efficient aircraft and the growth of air cargo and passenger traffic is offsetting domestic defense cuts. But Boeing is also expanding its defense business at the same time by striking deals with foreign countries including the delivery of the first C-17 aircraft to the Kuwait Air Force and the first Peace Eagle aircraft to the Turkish Armed Forces.
Boeing announced earlier this year that it would be slashing 600 jobs at its aircraft repair facility in San Antonio, however the company has since scaled that back to 440 job cuts after securing new business.
Boeing will still employ more than 1,000 workers in San Antonio after the layoff.
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