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Boeing lowers 747-8 production rate

written by australianaviation.com.au | October 21, 2013
The 747-8 is finding market conditions and competition tough going despite its cost-efficiency gains. (Boeing)
The 747-8 is finding market conditions and competition tough going despite the aircraft’s cost-efficiency gains. (Boeing)

Despite the promise of double-digit improvements in fuel efficiency, operating costs and emissions, Boeing has been forced to commit to a marginally lower production rate for the 747-8 program from 1.75 aircraft to 1.5 a month due to what the company describes as “lower market demand for large passenger and freighter airplanes”.

“This production adjustment better aligns us with near-term demand while stabilising our production flow and better positions the program to offer the 747-8’s compelling economics and performance when the market recovers,” a company statement said. “Although we are making a small adjustment to our production rate, it doesn’t change our confidence in the 747-8 or our commitment to the program.”

Boeing said it expects long-term average growth in the air cargo market to begin returning in 2014, forecasting global demand for 760 large aircraft such as the 747-8 over the next 20 years.

To date the 747-8 has gained 107 orders for passenger and cargo versions, 56 of which have been delivered.

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