Boeing to Cut 777/787 Production Amidst Plunge in Sales

By Kurt Stolz on 29 July 2020
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Boeing said it plans to cut production on its flagship 787 Dreamliner and 777 wide-body aircraft amidst a 25% drop in sales in the second quarter due to plummeting sales amidst a plunge in traffic due to the coronavirus pandemic.

The Chicago-based company reported a loss of $2.40 million with sales of $11.81 billion, compared to $15.75 billion in the same period in 2019.  Boeing had posted a loss of $2.94 billion in Q2 2019 thanks to the fallout of the 737 Max grounding, which continues to impact sales.

Boeing CEO Dave Calhoun said that the company was working closely with airlines and suppliers to manage the downturn.

“Air travel has always proven to be resilient – and so has Boeing,” he added.

Meanwhile, Boeing confirmed that the final 747, the iconic double-decker, known to many as the Queen of the Skies after it revolutionized air travel in the 1970s, would roll off the assembly line in approximately two years.

In addition, Boeing said it would reduce 787 production to six jets a month in 2021, compared to a rate of 14 just one year ago, and reduce the production rate of 777 and 777X jets to two per month, while delaying the 777X’s entry into the marketplace by at least a year.

(Photo: Accura Media Group)

Accura News

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