A faster-than-expected global recovery in airline passenger and freight traffic is positioning Boeing’s commercial aircraft unit for a rebound in 2011, but a leaner environment for defense spending is starting to eat into the company’s military profits. Second quarter revenues in Boeing’s Commercial Airplanes business declined 12% from a year earlier, to $7.4 billion, due to fewer deliveries of higher-margin widebody jets and delivery delays caused by seat supplier problems. Operating ...

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