Morgan Stanley has gone negative on Boeing, cutting its recommendation to underweight from equalweight. The firm has concerns that technical challenges will push the 787’s first flight into 2010, and is “even more concerned first delivery could be 6 months delayed to Spring 2011.” If that happens, the “787-8 may fall short of contractual guarantees, entitling airlines to remuneration.” 

Boeing Co. said Thursday it had finished fixing the problem that had forced it to postpone the maiden flight of its long-delayed 787 Dreamliner. But in making the repair, the aerospace giant got a fresh reminder of the complexities involved in working with the high-tech materials used to build the aircraft.

Damage to the area where the wings join the plane's body emerged during stress testing earlier this year. That prompted Boeing to delay flight testing of the aircraft and urgently search for a repair.

As Boeing raced to implement a remedy this summer, it discovered another issue with the composite material in the plane's wings, according to internal company documents and a person familiar with the matter. Metal bolts inside the wings of one of the six test airplanes were found to have slightly damaged the surrounding material—causing so-called delamination, or cracking—the documents show.  

According to a person familiar with the details, Boeing is still aiming to get the first Dreamliner airborne on Dec. 22. Workers at Boeing's massive factory in Everett, Wash., are on duty around the clock preparing the first batch of Dreamliners for test flights 

Boeing Co. (BA) has advanced ground testing of its 787 Dreamliner to the stage where it could make its first flight as early as Dec. 14, according to a person familiar with the situation.

Testing has advanced to the stage reached when the program was halted earlier this year by a now-resolved problem affecting the wing-body join on the aircraft.

The U.S. company has advanced its internal schedule for possible first flight to Dec. 14 from Dec. 22, the source said. A final decision hinges on further so-called "gauntlet" tests, as well as the weather in the Seattle area. 

After more than two years of delays, Boeing Co. said Thursday that it plans to fly its new 787 Dreamliner for the first time as early as next Tuesday. The exact timing of the much-anticipated first flight depends on external factors, such as the weather at the airport near Seattle, the company said in a statement.

The Dreamliner's first flight-which has been pushed back multiple times-will be a major milestone for Boeing's marquee commercial airplane program. Boeing plans to fly the plane on a four to five hour test flight departing from Boeing's factory at Paine Field in suburban Everett, Wash., north of Seattle. If all goes according to plan, the Dreamliner will eventually land 30 miles south at Boeing Field in south Seattle, where the 787 test planes will be based.

Boeing executives for the past few months have insisted the Dreamliner will fly by year's end, staking much of their own and the company's credibility on making it happen. For the past few weeks, the industry has been trying to guess the exact date of the first flight. Internally, Boeing had targeted Dec. 22, according to people familiar with the details, but had been hoping to ready the plane for an earlier flight, if for no other reason than to give themselves breathing room to account for weather delays and other potential snags. 

SEATTLE — After two years of delays, Boeing Co. says the long-anticipated first flight of its new 787 jetliner could come as early as Tuesday.

Boeing announced Thursday that its window for a first flight would open Dec. 15 with the actual flight timing dependent on final internal reviews, taxi testing, Federal Aviation Administration documentation and the weather.

For the 787 to be cleared for takeoff, there must be good visibility, no standing water on the runway and little to no wind, said Yvonne Leach, spokeswoman for the 787 program.

The company said it has completed "final gauntlet" testing on the 787 and verified that fixes it made to address a structural problem worked.