The Boeing 747 may have ushered in the modern era of long-haul air travel, but it won't be around to help the industry recover from the body blows the COVID-19 pandemic has been throwing since the start of the year. Along with athat tallied up a $2.4 billion loss, Boeing announced on Wednesday that come 2022, it will cease building the jumbo jet.
Boeing said it would slash production rates on its commercial assembly lines to match lowered demand, and warned of more layoffs. The company also said it would push back delivery of its first 777X, to 2022, and look at consolidating production facilities on its 787 program. The 747 has been a popular choice for cargo and freight carriers, partly due to its unique design that facilitates larger pieces of cargo.The 747 has hung on this long largely thanks to its popularity among cargo and freight carriers, who appreciate its ability to carry heavy payloads, long range, and ability to accommodate oversize cargo.
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »