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After long speculations and unconfirmed statements, Boeing has finally affirmed that the production of the 747 “Queen of the Skies” will come to an end in 2022.
The information has been revealed by Boeing CEO in the letter to employees on quarterly results and market realities.
“The reality is the pandemic’s impact on the aviation sector continues to be severe. (…) Our commercial customers are delaying jet purchases, slowing deliveries, deferring elective maintenance, retiring older aircraft and reducing spend — all of which affects our business and, ultimately, our bottom line,” said Dave Calhoun, CEO of Boeing.
To maintain business, Boeing has made critical steps and taken drastic measures, including:
- slower ramp-up in 737 production (increase to 31 per month by the beginning of 2022)
- reduce the combined 777/777X production rate (two per month in 2021)
- further reduce 787 production (six per month in 2021)
- complete production of the iconic 747 in 2022.
Although the planemaker will further support operations of these wide-body planes after the production ceases, no more new Boeing 747 aircraft after 2022 will see the light of the day. “The market simply won’t support higher output levels at this time, and we need to adapt accordingly”.
Also, Calhoun said that the company will further evaluate the size of its workforce, in addition to previously announced a net 10% workforce reduction in 2020.