Boeing provided a financial update for the 747 in an SEC form 10-Q filing today.
They noted that demand for both the passenger plane and freighter has been less than they’ve projected. Boeing is going to keep production levels at just one aircraft every other month. They have completed, unsold aircraft in inventory and their schedule anticipates producing 32 aircraft through 2019 that they do not yet have plans to deliver.
United’s livery of my youth. By Torsten Maiwald, GFDL 1.2, via Wikimedia Commons
That’s the big lead up to this obvious conclusion:
If we are unable to obtain sufficient orders and/or market, production and other risks cannot be mitigated, we could record additional losses that may be material, and it is reasonably possible that we could decide to end production of the 747.
Thai Airways Boeing 747-400
Meanwhile they complain about “changes to price escalation factors” for the Boeing 787. Airline executives should deflect Wall Street complaints about declining passenger revenue by simply recognizing ‘changes to price escalation factors’ as well.
Excuse me while I wipe tears out of my eyes at this news 🙁
Well this is just sad. End of an era, and the most beautiful, awe inspiring aircraft ever produced. It’s what drove my love for travel, beginning from when I was a child.
It really is sad. It is too bad Qatar or Etihad won’t decide to use the 748 as their Emirates A380. Imagine first class suites (and shower) in the nose, top notch business-class upstairs, and something like 500 economy seats crammed in the back….
The Queen of Skies rests after 4 decades of service !
Always enjoyed flying 747s.
Every good thing comes to an end.
I still recall with much pleasure, my last Concorde flight.
Next!