Boeing confidence meets analyst's doubts

CHICAGO, March 26 (UPI) -- A public display of confidence among Boeing executives is meeting a rising tide of doubt the U.S. aircraft maker can get through the recession unscathed.

Earlier this month in New York, the chief executive officer of Boeing's commercial planes division, Scott Carson, said the demand was creating "a rich opportunity for us." He also said, "we're playing from a position of strength," USA Today reported Thursday.

The quotes embody the company's public position, which counts on a robust airline industry in the future and a current backlog of orders.

The company has cut far less jobs in the current recession than it did in the wake of the Sept. 11, 2001, terrorist attacks, but analysts say the recession has yet to catch up with Boeing.

"Yes, Boeing has a record backlog, but only a fool would believe in it," said Richard Aboulafia, an industry analyst at Teal Group.

Robert Stallard at Macquarie Research recently downgraded his Boeing rating, claiming Boeing was "underestimating the potential for lower airline demand." And Joseph Nadol at JPMorgan recently lowered his earnings estimates for both Boeing and Airbus for 2008 and 2010, the newspaper said.