Boeing's iconic 747 era could come to an end

Production rate on 747 has gradually dropped to 1 a month in July 2016, signalling bad news for jet's future plan

Reuters July 28, 2016
Old airplanes, including Boeing 747-400s, are stored in the desert in Victorville, California March 13, 2015. PHOTO: REUTERS

Boeing Co could end production of the iconic 747 aircraft as the world's biggest plane maker fights falling orders and pricing pressure on the plane, according to a regulatory filing on Wednesday.

Boeing also cancelled plans to increase production of the 747 to one plane per month from 2019, and stuck to its earlier plan of halving the production rate in September 2016.

Production rate on the 747, which was at 1.5 per month in June 2015, has gradually dropped to 1 a month in July 2016, signalling bad news for the jet's future plan.

India inks $1 billion deal with Boeing for spy planes

The company reported smaller-than-expected second-quarter loss on Wednesday helped by strong performances in its jetliner and defence businesses.

Boeing warned last week it planned to take $3 billion in pre-tax charges related to its 787, 747 and KC-46 tanker aircraft programs.

Nicknamed 'Jumbo Jet' and 'Queen of the Skies,' the wide-body aircraft is a sought after one among heads of state, including the US President, whose Air Force One is a variant of the 747.

The latest version of the 747, capable of traveling the length of three Fifa football fields in a second, is used by Cathay Pacific, Lufthansa and Air China amongst others.


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