Boeing sets the end of the 747 jumbo jets
On Thursday, Boeing Co (BA.N) announced that the company is pulling the plug on its hulking 747 jumbo jets, ending a half-century run for the twin-aisle pioneer.
According to the aerospace company, the last 747 jumbo jets would roll out from its Seattle area factory in the next two years.
“At a build rate of 0.5 airplanes per month, the 747-8 program has more than two years of production ahead of it in order to fulfill our current customer commitments. We will continue to make the right decisions to keep the production line healthy and meet customer needs,” Boeing’s spokesman said in an interview with Reuters.
Major U.S. carriers such as United Continental Holdings Inc (UAL.O) and Delta Air Lines Inc (DAL.N) have already said their farewell to the 747 jumbo jets.
Boeing said in 2016 that the production of 747 jumbo jets could end amid falling orders and pricing pressure.
In the 1970s, 747 jumbo jets democratized global air travel. However, it fell behind the modern twin-engine passenger jets.