Boeing Adjusts 747-8 Production Rate
EVERETT, Wash., April 19, 2013 /PRNewswire/ -- Boeing (NYSE: BA) announced that it will adjust the production rate for the 747-8 program from two airplanes to 1.75 airplanes per month because of lower market demand for large passenger and freighter airplanes.
Boeing will continue to monitor market conditions and their effect on production rates moving forward. The company expects long-term average growth in the air cargo market to resume in 2014, and forecasts a demand for 790 large airplanes (such as the 747-8 Intercontinental) to be delivered worldwide over the next 20 years.
The 747-8 family provides airlines with double-digit improvements in fuel burn, operating costs and emissions, while being 30 percent quieter and adding more capacity. To date, there are 110 orders for passenger and cargo versions of the 747-8, 46 of which have been delivered.
The first delivery of an airplane at the new production rate is expected in early 2014. The production rate change is not expected to have a significant financial impact.
Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "forecasts," "plans," "projects," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak to events only as of the date they are made and we undertake no obligation to update or revise any forward-looking statement, except as required by federal securities laws. Specific factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, the effect of economic conditions in the United States and globally, and general industry conditions as they may impact us or our customers, as well as the other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission.
Boeing Commercial Airplanes Media Relations