The Chicago-based manufacturer also said it would take a third-quarter charge of $1 billion for the 747-8 program due to increased production costs and “difficult market conditions.” In late August, Boeing pushed back the schedule for its oft-delayed 787 program and also announced plans for a third-quarter charge for that program.

Boeing has 78 orders for the new freighter from cargo operators including Cargolux, Nippon Cargo Airlines, AirBridgeCargo Airlines, Atlas Air, Cathay Pacific, Dubai Aerospace Enterprise, Emirates SkyCargo, Guggenheim and Korean Air.

“I can confirm Cargolux has been informed accordingly by Boeing and that they foresee the delivery of the first aircraft only in Q4 2010. This is obviously affecting our planning, but we still need to analyze,” Jeannot Erpelding, Cargolux Airlines Head of Corporate Communications, told Air Cargo World.

In late July, Boeing officials touted the joining of the forward and aft fuselage sections with the wing and center section of the first 747-8 as a major step forward. At the time, Boeing Chairman President and CEO Jim McNerney said the program “continues to work toward a first flight late this year and first delivery in the third quarter of 2010.”

In a statement this week, Boeing tied the third-quarter charge to increased production costs and “difficult market conditions” affecting the 747-8 program. It said $640 million of the $1 billion charge reflects “higher estimated costs to produce 747-8 airplanes at Boeing and supplier facilities.”

Boeing added: "As the program assembled major components of initial 747-8 freighters during the third quarter, it became clear that late maturity of engineering designs has caused greater than expected re-work and disruption in manufacturing. This is resulting in additional resources being applied on the program."

The remaining $360 million relates to “challenging market conditions and the company’s decision to maintain the 747-8 production rate at 1.5 airplanes per month nearly two years longer than previously planned, deferring an increase to 2 per month. Higher allocation of fixed expenses and volume-based penalties to suppliers are the main drivers of the additional costs," according to the statement.

Boeing also noted that the 747 program is in “a loss position.” The company said it would update financial guidance when it reports third-quarter results Oct. 21.