Boeing Reduces 747 Production Rate Again

Slowdown begins early next year

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    NEWSLETTERS

    TK
    AP
    AN Air India Boeing 787 Dreamliner performs its demonstration flight during the 50th Paris Air Show at Le Bourget airport, north of Paris, Wednesday, June 19, 2013. (AP Photo/Francois Mori)

    Boeing is reducing production of its 747 jumbo jet even more than planned, because of weak demand.

    Boeing says it will now build 18 of the jets per year, or about 1.5 per month. The slowdown begins early next year.

    Boeing had been building two per month but was already planning to slow down its 747 production line in Washington state early next year. The new slowdown announced Friday is an even deeper cut to production.

    The Chicago-based company says it is still committed to the 747. It says it expects long-term growth for cargo planes to resume next year.

    Boeing has been building 747s for 40 years. It rolled out a significantly revamped version in 2011, but sales have been less than expected, especially for the passenger version.