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Boeing Taking Charge On Tanker Program, Sticks With Schedule

They're trying to stay on schedule to deliver 18 tankers to the U.S. Air Force by 2017.

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The Boeing Co. said Friday that it plans to absorb a $536 million charge that will help it keep the KC-46 aerial refueling tanker program on schedule.

The company said the after-tax charge, which is amounts to 77 cents per share, will be reflected in its second-quarter financial results.

Boeing said it is investing the "necessary resources" to keep the program on schedule for delivering the initial 18 tankers to the U.S. Air Force by August 2017 and building 179 tankers by 2027.

Chicago-based Boeing continues to forecast an $80 billion global market for refueling tankers.

The company said it will update its guidance on July 22.

Its shares fell $1.76, or 1.2 percent, to $146.73 in midday trading. Its shares have risen more than 16 percent over the past year.

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