Boeing to Increase 777, 747 Production Rate

March 22, 2010
Commercial jet output will be increased in line with forecast demand

Boeing Co. forecasts rising demand for new commercial aircraft plans to accelerate planned rate increases of its 777 and 747 production programs.

"We see 2010 as the year of overall economic recovery within the industry and 2011 a year where airlines return to profitability," stated Randy Tinseth, vice president of Marketing for Boeing Commercial Airplanes. "As a result, we anticipate an increase in demand for airplanes in 2012 and beyond."

Production of 777’s will be increased from five to seven airplanes per month by approximately six months, Boeing said, starting in mid-2011 rather than early 2012 as previously scheduled.

This change will maintain the current production rate for the 777 program, which in 2009 was scheduled for a cutback in 2010. Reportedly there are presently 1,117 of the newest Boeing commercial jet on order, and the company said it forecasts more orders in the current market.

Production of 747’s will increase from 1.5 to two airplanes per month, beginning in mid-2012 rather than mid-2013. Suppliers for both the 777 and 747 will be prepared to support the accelerated rate increases.

"Our customers recognize the great capability and value of the 777 and 747-8," said Jim Albaugh, president and CEO of Boeing Commercial Airplanes. "Market improvement and our conservatively managed approach to production have put us in a position where we see it necessary to raise aircraft output. Increasing our rate is the right thing to do to support our customers."

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