FILE PHOTO: The Boeing logo is displayed at the Latin American Commercial Aviation Conference and Exhibition Fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil, August 14, 2018. REUTERS / Paulo Whitaker
(Reuters) – Boeing Co (PROHIBITION) is disconnecting its 747 jumbo jet, Bloomberg News reported Thursday.
The 747 democratized world air travel in the 1970s, but lagged behind modern twin-engine passenger aircraft.
The latest 747-8 will leave a Seattle-area factory in about two years, according to the Bloomberg report. (bloom.bg/38n5A8p)
When contacted by Reuters, Boeing did not confirm the Bloomberg report.
“At a construction rate of 0.5 aircraft per month, the 747-8 program has more than two years of production ahead of us to meet our current commitments to customers,” a Boeing spokesperson told Reuters.
“We will continue to make the right decisions to keep the production line healthy and meet customer needs.”
Boeing’s 747 aircraft is enjoying a second life as a pack mule for companies like United Parcel Service Inc (UPS.N) due to the boom in the cargo market driven by online shopping.
In 2016, Boeing said it could end production of 747s amid falling orders and price pressure.
Major American companies like United Continental Holdings Inc (UAL.O) and Delta Air Lines Inc (DAL.N) already said goodbye to 747.
Reports by Ankit Ajmera in Bangalore and Eric M. Johnson in Seattle; Edited by Maju Samuel
.
