The days of the iconic Boeing 747 jumbo jet could be numbered, Boeing said in a July 27 SEC filing.
“It is reasonably possible that we could decide to end production of the 747,” Boeing stated.
The world’s original jumbo jet typically seats more than 400 people. It stands more than six stories tall and and it has been in production since 1969.
In recent years, however, the 747, with its four engines, has lost favor to smaller and more fuel-efficient aircraft.
In its filing, Boeing said that lower-than-expected demand for large passenger aircraft coupled with slower-than-expected growth in global freight traffic have driven market uncertainties and led to fewer-than-anticipated 747 orders.
During the second quarter, Boeing cancelled plans to double 747 production to one aircraft per month, beginning in 2019.
“We continue to have a number of completed aircraft in inventory as well as unsold production positions, and we remain focused on obtaining additional orders and implementing cost-reduction efforts,” Boeing said in the filing.
But the program could be cancelled if the company is unable to obtain sufficient orders.
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