If it already wasn’t apparent that large-scale flying may be on the outs, it might be soon.
In a July 2nd report published by Bloomberg, Boeing is getting ready to “pull the plug” on production of its iconic 747 jumbo jet (specifically, the 747-8) in roughly two years.
Citing sources “familiar with the matter,” the outlet claims Boeing is going to make the announcement once its existing orders are filled.
It’s estimated that Boeing is losing $40 million on the jets, which are also taking up space at its Washington state factory.
Boeing neither denied or confirmed if it was indeed ending its 747 program.
“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,” a Boeing spokesman said.
Boeing’s “Queen of the Skies” turned 50 years old last year. Their first 747 passenger jets were first delivered in 1969 to TWA and Pan Am (both now-defunct), and were very popular at the time.
According to the Cirium Fleets database, there are 171 of the passenger versions of the jet still in fleets of airlines around the world; 27 of those are now in use.
The last 747 passenger jet that Boeing delivered was to Korean Airlines in 2015. Since then, the manufacturer has focused its resources on building freighter versions only.