Widebody; Low Wing; 2 Turbojet Eng
Flight Crew Air Transport Pilot (ATP)
Flight Crew Last 90 Days 214; Flight Crew Total 3669; Flight Crew Type 760
Communication Breakdown
ATC Issue All Types; Deviation - Track / Heading All Types; Deviation / Discrepancy - Procedural Clearance; Deviation / Discrepancy - Procedural Published Material / Policy
Flight Crew Requested ATC Assistance / Clarification
Human Factors
After takeoff we received clearance above the initial altitude of 6000 feet. The Captain was the PNF and was handling ATC transmissions. The Captain understood the altitude clearance to be FL270. I heard the Captain read back the clearance to ATC of FL270 with no correction by ATC. It was the controller's intent to clear the flight to 7000. At 6400 the controller stated that we should level off at 7000 and turn immediately to a heading of 270 degrees. The flying FO leveled the aircraft at 7000 (did not bust the altitude) and turned to a heading of 270 degrees.  After the turn was complete the controller asked why the mode control panel altitude was set at FL270. The captain responded that he understood the clearance to be to FL270 and that he had read that back with no correction by the controller.  The controller said they would review the tapes. Once again; the aircraft did not climb above the ATC intended altitude of 7000.
[Report narrative contained no additional information.]
Flight crew on departure read back the incorrect altitude clearance. The incorrect readback was not caught by the Controller.