Boeing lowers 747-8 production rate
Boeing will lower the production rate for the 747-8 program from 1.75 airplanes to 1.5 airplanes per month through 2015 because of lower market demand for large freighters and passenger airplanes.
"This production adjustment better aligns us with near-term demand while stabilizing our production flow, and better positions the program to offer the 747-8's compelling economics and performance when the market recovers," said Eric Lindblad, vice president and general manager, 747 Program, Boeing Commercial Airplanes. "Although we are making a small adjustment to our production rate, it doesn't change our confidence in the 747-8 or our commitment to the program."
The company expects long-term average growth in the air cargo market to begin returning in 2014, and forecasts global demand for 760 large airplanes over the next 20 years, valued at US$280 billion (204 billion euros).
To date, the 747-8 has accumulated 107 orders for passenger and cargo versions, 56 of which have been delivered.
The first delivery at the new production rate is expected in early 2014. The production rate change is not expected to have a significant financial effect, according to Boeing.