Dreamliner costing Boeing $4B in overruns

CHICAGO, Oct. 15 (UPI) -- Production delays in the Boeing 787 Dreamliner have cost the U.S. planemaker $4 billion more than it expected, an industry analyst said.

"They have blown through cost estimates with this program," Broadpoint AmTech analyst Peter Arment, told the Chicago Tribune.

Arment estimated the plane, originally billed as revolutionary, has cost Boeing $4 billion in development overruns.

The 787 has suffered five production delays impacting suppliers and customers. It is now two years behind its original schedule and has yet to get airborne on a test flight.

The delays are due, in part, to the new materials and construction strategy, experts said.

The planes fuselage is designed as a composite material made of carbon fibers and epoxy, as opposed to aluminum sheets. In addition, major parts, such as wings and fuselage, are being constructed around the globe so they can be shipped to Everett, Wash., and "snapped together" in three days, the Tribune said.

"Any time you're dealing with new material and new techniques, there's bound to be disruptions in development," said Teal Group Corp. aerospace analyst Richard Aboulafia.