Goldman analyst Richard Safran writes today in a research note, “We now think deliveries will start in the third quarter of 2009 versus the current ‘early’ 2009 target.”

The deliveries he’s talking about are the Boeing 787 deliveries.

Safran writes that Boeing “continues to underestimate the amount of work required on the 787.”

Safran says that production problems on the first batch of 787s on Boeing’s production line would delay turning the power on in the first plane, push back the first test flight and extend the amount of time Boeing needs to conduct full flight tests on the aircraft.

(NYSE:BA)

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