Boeing could end production of its iconic 747 aircraft following falling orders and pricing pressure. Boeing had canceled plans to increase production of the 747 to one plane per month from 2019, and stuck to its plan of halving the production rate in September.
"If we are unable to obtain sufficient orders and/or market, production and other risks cannot be mitigated, ... it is reasonably possible that we could decide to end production of the 747," Boeing said in a regulatory filing quoted by Reuters.
"On the 747 program, we decided to reduce future production expectations and revenue assumptions to account for current and anticipated weakness in the air cargo market," Chief Executive Dennis Muilenburg said on a post-earnings call with analysts.
The production rate of the 747, which was 1.5 per month in June 2015, dropped to one per month in this month.
Source: CBC
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