Boeing Chief Cites Progress On 787 Delays

Boeing Co.'s top executive said the aerospace company still had "a five-year lead" over archrival Airbus, despite the delays in delivering its new 787 aircraft.

Jim McNerney, chairman and chief executive, said Boeing was making "significant progress" in resolving the production and supply-chain problems that have delayed the fast-selling 787 by at least 15 months. The Chicago company remains in talks with airlines about paying penalties for delays that could force carriers to find alternative aircraft until their 787s arrive.

Boeing has yet ...