Boeing has announced the official end to the Boeing 747 production line, its second quarter 2020 financial results, and other changes to aircraft production. This video covers the details of the end of the Boeing 747 program and more changes to Boeing’s production.
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Boeing has reported a net loss of $2.395 billion for the second quarter of 2020, compared to a net loss of $641 million in the first quarter.
The company estimates it will take around three years to return to 2019 levels of demand, so Boeing will modify production levels for several aircraft.
To begin, Boeing has confirmed the 747 production line will end in 2022. This was highly rumored in the past few weeks, and unfortunately, the time has come.
Boeing will also delay the first delivery of its new 777X to 2022 instead of 2021. Additionally, Boeing will decrease combined 777/777X production to two aircraft per month instead of three in 2021.
Next, Boeing will slow the increase of 737 production to 31 aircraft per month by 2022 instead of the projected increase by 2021.
Finally, Boeing has revealed another cut to 787 Dreamliner production, this time by decreasing output to six aircraft per month instead of seven per month in 2021.
787 production will increase to seven per month in 2022. Originally, 787 production was at 14 per month, then 10 per month, and will now decrease to six.
Boeing is also studying the possibility of consolidating 787 production to one location, whether it’s the Everett or South Carolina factory.
Unfortunately, with COVID-19 causing air travel demand to plummet, these cuts in production are needed to meet demand. Additionally, farewell to the 747.
More Information: https://boeing.mediaroom.com/news-releases-statements?item=130713
From Boeing: The changes include further lowering our commercial airplane production rates:
– We will have a slower ramp-up in 737 production than previously planned, with a gradual increase to 31 per month by the beginning of 2022.
– We will reduce the combined 777/777X production rate to two per month in 2021, which is one unit lower per month than we announced last quarter.
– We will further reduce 787 production to six per month in 2021. This is an adjustment down from the reduction we announced last quarter to 10 per month currently and seven per month by 2022. With this lower rate profile, we will also need to evaluate the most efficient way to produce the 787, including studying the feasibility of consolidating production in one location. We will share more with you following our study.
– While our 767 and 747 rates remain unchanged, in light of the current market dynamics and outlook, we’ll complete production of the iconic 747 in 2022. Our customer commitment does not end at delivery, and we’ll continue to support 747 operations and sustainment well into the future.
#Boeing #Boeing747 #Boeing777X