Boeing has announced several changes to production after a massive loss.
Boeing reported a net loss of $2.4 billion for the second quarter of 2020. In comparison, the lost $641 million in the first quarter of 2020.
In order to meet low levels of demand for the next few years, Boeing has chosen to slash production of some aircraft:
- The 747 production line will officially end in 2022. Boeing will continue to support existing 747 operators into the future.
- The 777X’s first delivery is now targeted for 2022 instead of 2021
- The combined 777 and 777X production will be two per month instead of three in 2021.
- 737/737 MAX production will gradually increase slower with 31 aircraft per month by 2022 instead of 2021.
- 787 production will reduce to six per month in 2021 (increasing to seven by 2022, overall down from 14 per month).
- Boeing studies consolidating 787 production to one location (Everett/Charleston).
- 767/747 production rates remain unchanged.
Unfortunately, with COVID-19 causing air travel demand to plummet, these cuts are needed to meet demand. Farewell to the 747 after over 50 years of production.