Log Out | Member Center



Boeing cuts production rate of its 747-8 jet

  • The Wichita Eagle
  • Published Friday, April 19, 2013, at 10:34 a.m.
  • Updated Friday, April 19, 2013, at 4:53 p.m.

Boeing is cutting the production rate of its 747-8 intercontinental jet from two planes a month to 1.75 per month because of lower demand for large passenger and freighter airplanes, the company announced Friday.

The first plane to be delivered under the new rate is expected to be in 2014.

Boeing said it will continue to monitor market conditions and the effect on production rates going forward.

Boeing expects long-term growth in the air cargo market to resume in 2014. It forecasts demand for 790 large airplanes, such as the 747-8, to be delivered worldwide in the next 20 years.

The company has noted soft demand in the freighter market for some time, RBC Capital Markets analyst Robert Stallard said in an analyst note.

“If there is no pickup in orders, we could see further cuts to the 747-8 production rate,” Stallard said in the note.

Boeing has a backlog of 64 747-8s. It took only seven orders for the plane in 2012 and three so far this year, Stallard said.

Spirit AeroSystems in Wichita is a supplier on the program.

The news comes as Boeing prepares to cut its engineering and technical workforce in the Northwest by 1,500 to 1,700.

Reach Molly McMillin at 316-269-6708 or mmcmillin@wichitaeagle.com.

Subscribe to our newsletters

The Wichita Eagle welcomes your comments on news of the day. The more voices engaged in conversation, the better for us all, but do keep it civil. Please refrain from profanity, obscenity, spam, name-calling or attacking others for their views. Please see our commenting policy for more information.

Have a news tip? You can send it to wenews@wichitaeagle.com.

Search for a job


Top jobs