Aircraft manufacturer Boeing has announced a fall in its quarterly net profits. Between April and June profits fell 21 per cent to $787 million compared to the same period last year when net profits reached $998 million. Although the drop can be attributed to less planes being delivered, the fall was not as sharp as some analysts feared.

During the second quarter, Boeing managed to deliver 114 commercial aircraft. In the same quarter last year the manufacturer was able to deliver 125. Deliveries for the whole of the first half of this year were down by 10 per cent on 2009.

Boeing refuses to be phased by the figures, and remains confident that commercial markets are continuing to show strong recovery. The aircraft giant predicts that growth will accelerate from 2011 onwards. Jim McNerney, Boeing’s chairman, described the operational performance of the last quarter as solid.

Commercially, Boeing put in a good performance at this year’s Farnborough Air Show. RBS Aviation Capital confirmed that it would be investing in 43 Boeing 737s. Emirates announced that it was ordering 30 Boeing 777s, a deal worth $9.1 billion.

Boeing is likely to be resting much of its hopes on the success of its 787, or Dreamliner.  The manufacturer claims that the aircraft is the most technologically sophisticated it has ever produced, being faster and lighter than any other passenger plane of a similar size. Boeing is also selling the 787 on the back of the fact that it omits far less CO2 than other airliners.