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FIRST ON CNBC: CNBC TRANSCRIPT: CNBC'S PHIL LEBEAU SPEAKS WITH BOEING CHAIRMAN & CEO JIM MCNERNEY TODAY ON CNBC'S "THE CALL"

WHEN: TODAY, MONDAY, SEPTEMBER 26TH

WHERE: CNBC'S "THE CALL"

Following is the unofficial transcript of a FIRST ON CNBC interview with Boeing Chairman & CEO Jim McNerney today on CNBC's "The Call." All references must be sourced to CNBC.

Tomorrow, Tuesday, September 27th at 9PM ET/PT, CNBC will premiere a one-hour documentary on Boeing's Dreamliner entitled “Dreamliner: Inside the World’s Most Anticipated Airplane.”

Boeing CEO on 787 Profit Potential

LEBEAU: WELCOME BACK TO "THE CALL." I'M PHIL LEBEAU LIVE AT THE BOEING PLANT IN EVERETT, WASHINGTON. FIRST-ON CNBC INTERVIEW WITH JIM McNERNEY ON A BIG DAY FOR YOU GUYS ION TERMS OF FINALLY DELIVERING THE FIRST DREAMLINER. I HAVE TO ASK YOU AS YOU ENDURED YEARS OF QUESTIONING ABOUT THE DREAMLINER BEING POSTPONED. HOW DOES IT FEEL THAT IT'S FINALLY HERE?

MCNERNEY: IT FEELS GREAT. IT FEELS FANTASTIC. IT WAS A JOURNEY, NO QUESTION ABOUT IT. BUT I THINK TO SEE IT COME TOGETHER FOR OUR CUSTOMERS AND THEIR CUSTOMERS AND PARTICULARLY FOR ANA -- ANA IS THE LAUNCH CUSTOMER OF THIS AIRPLANE. AND AS WE WENT THROUGH THE TWISTS AND TURNS OF THE DEVELOPMENT, THEY NEVER WAVERED. WE NEVER WAVERED. AND I THINK IT'S PAYING OFF FOR BOTH OF US TODAY.

LEBEAU: THERE ARE A LOT OF ESTIMATES OUT THERE ABOUT WHEN DO YOU RECOUP THE 17 TO 23 BILLION IN R&D THAT YOU HAVE PUT INTO THE PLANE. DO YOU GET IT BACK 2018, 2019, 2020 FROM YOUR PERSPECTIVE, WHEN DO YOU MAKE THAT MONEY BACK?

MCNERNEY: THIS PLANE WILL BE PROFITABLE AT THE BEGINNING. THE CASH BREAK EVEN IS OUT THERE A FEW YEARS, AS IS ALWAYS THE CASE WITH THESE MAJOR DEVELOPMENTS WHERE BILLIONS ARE SPENT TO INNOVATE, TO DO THINGS THAT NO ONE HAS EVER DONE BEFORE. AND IN AMERICA. AND SO IT WILL TAKE A NUMBER OF YEARS FOR THE CASH BREAK EVEN TO HAPPEN.

LEBEAU: CAN YOU GIVE US A YEAR?

MCNERNEY: NO. IT'S NOT SOMETHING WE REGULARLY TALK ABOUT. BUT BOEING HAS THE FINANCIAL STRENGTH TO CARRY THROUGH A FEW YEARS UNTIL WE GET TO BREAK EVEN. BUT PROFITABLE FROM DAY ONE.

LEBEAU: ONE OF THE CONCERNS ON WALL STREET IS, NOW YOU ENTER INTO THE REAL CRITICAL POINT. YOU HAVE TO RAMP UP PRODUCTION TO GET TO 10 PER MONTH BY THE END OF 2013, AND ALMOST EVERYBODY SAYS, YOU KNOW WHAT, THAT'S REALLY AMBITIOUS. AND WE'RE NOT QUITE SURE THAT BOEING CAN GET THERE, EVEN WITH THE SURGE LINE AND THE SOUTH CAROLINA PLANTS.

MCNERNEY: WELL, THAT'S THE POINT. I MEAN, THE POINT IS, WE'VE TRIED TO STRUCTURE OURSELVES FOR SUCCESS HERE. ON A VERY AMBITIOUS RAMP. SURGE LINE HERE, SOUTH CAROLINA PLANT TO MAKE SURE WE HAVE GEOGRAPHIC DIVERSITY AND DIVERSITY OF PRODUCTION. SO WE'RE GIVING OURSELVES THE CHANCE TO DO WHAT WE THINK WE CAN DO, WHICH IS RAMP THIS THING TO 10 BY THE END OF 2013.

LEBEAU: BUT YOU AND I WE TALK IN THE DOCUMENTARY ABOUT THE FACT THAT YOU WERE TOO AMBITIOUS AS FAR AS DEVELOPING THIS PLANE. ARE YOU TOO AMBITIOUS NOW WITH THE PRODUCTION GOALS?

MCNERNEY: WE DON'T THINK SO. WE LIKE AMBITIOUS. WE LIKE DOING THINGS THAT PEOPLE DON'T DO EASILY. THAT'S PART OF OUR DNA. AND IT IS A CHALLENGING RAMP GOAL. THERE'S NO QUESTION ABOUT IT. BUT WE THINK WE'RE STRUCTURED TO GET IT DONE.

LEBEAU: LET ME ASK YOU ABOUT THE GLOBAL ECONOMY. AND I WANT TO SHIFT AWAY FROM BOEING BUT INTO THE BROADER CONTEXT. WHAT ARE YOU SEEING OUT THERE RIGHT NOW THAT EITHER GIVES YOU REASON TO BELIEVE THAT WE ARE SEEING THE WORST AND COMING THROUGH IT OR MAYBE A LITTLE PAUSE ABOUT THE GLOBAL ECONOMY?

MCNERNEY: YOU KNOW, IT'S INTERESTING. I THINK THE ECONOMY IS STRONGER THAN YOU READ ABOUT. I THINK MOST --

LEBEAU: THE GLOBAL ECONOMY?

MCNERNEY: THE GLOBAL ECONOMY AND MULTINATIONAL COMPANIES SPECIFICALLY FROM ANYWHERE IN THE WORLD, STRONGER THAN WHAT YOU READ ABOUT. OUR FINANCIAL SERVICES ENVIRONMENT IS TOUGH, THOUGH. I THINK THAT THE EUROPEAN SITUATION IS ERODING CONFIDENCE. I THINK OUR OWN LEGISLATIVE CHALLENGES TO PRODUCE SOME CERTAINTY AND A PATH FORWARD THAT IS SOMEWHAT CONDUCIVE TO DOING BUSINESS IN THIS COUNTRY IS TAKING A LITTLE MORE TIME TO COME TOGETHER THAN WE WANT. AND AS YOU KNOW, I THINK THE REGULATORY ENVIRONMENT IS HOLDING BACK THE ECONOMY TO A CERTAIN DEGREE. BUT ALSO I THINK IT'S WORTH COMMENTING ON, CONSTRUCTION, REAL ESTATE, THAT IS USUALLY A LOT OF ANY RECOVERY. AND THAT'S AS FLAT AS A DOOR NAIL. SO THE REST OF THE ECONOMY IS BETTER THAN ADVERTISED IN MY VIEW.

LEBEAU: DO WE AVOID A DOUBLE DIP RECESSION?

MCNERNEY: I THINK SO. I MEAN, AS I FEEL IT, I'M NOT AN ECONOMIST. YOU CAN ADD MY WORD TO THE CHORUS OF OTHERS YOU ASKED THIS QUESTION TO. BUT I THINK THAT BUSINESS FEELS STRONGER THAN ADVERTISED.

LEBEAU: JIM McNERNEY, ONE LAST QUESTION ON THE DREAMLINER. WHEN WILL YOU GET A CHANCE TO FLY ON IT?

MCNERNEY: WELL, I'M TRYING NOT TO CROWD OUT MORE WORTHY --

LEBEAU: I THINK THEY HAVE A SEAT FOR YOU.

MCNERNEY: THEY DO. AND I'LL BE SOONER RATHER THAN LATER. AND I CAN'T WAIT.

LEBEAU: JIM McNERNEY, CHAIRMAN AND CEO OF BOEING, ON A HUGE DAY FOR THIS COMPANY, GUYS. IT'S BEEN YEARS IN THE MAKING. THREE YEARS LATE. MILLIONS MORE SPENT THAN THEY PLANNED ORIGINALLY. BUT THEY ARE FINALLY DELIVERING THEIR FIRST DREAMLINER. TYLER, BACK TO YOU.

MATHISEN: PHIL, MR. McNERNEY, THANK YOU VERY MUCH. DON'T MISS OUR CNBC SPECIAL DOCUMENTARY TOMORROW, "DREAMLINER: INSIDE THE WORLD'S MOST ANTICIPATED AIRPLANE." A CLOSE-UP LOOK AT THE DARING AND CONTROVERSIAL NEW PLANE THAT CARRIES AN INCREDIBLE PROFIT POTENTIAL. PREMIERING TOMORROW NIGHT, 9:00 P.M. ET/PT ONLY RIGHT HERE ON CNBC.

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