New York  - US airplane giant Boeing Co. reported Wednesday that its net income in the first quarter reache 1.21 billion dollars, up 38 per cent on the previous year period, thanks to strong growth in commercial planes sales.

The company said the earnings came on revenues of almost 16 billion dollars, up 4.1 per cent. The net income figure surpassed analysts' projections.

"We're off to a good start in what we expect to be another strong year of financial performance for Boeing," commented company chairman, president and CEO Jim McNerney. (dpa)