End of the line for jumbo jet as Boe­ing ends 54-year run

The Daily Telegraph - Business - - Business -

◆ Boe­ing has of­fi­cially an­nounced it is killing off its long haul 747 jumbo jet af­ter plung­ing to a big­ger than ex­pected sec­ond-quar­ter loss, writes Alan Tovey.

The last of the 184-ton jets will roll off the pro­duc­tion line in 2022, bring­ing the cur­tain down on 54 years of man­u­fac­tur­ing. De­mand has long been fall­ing as firms opt for newer and more ef­fi­cient air­craft.

Bosses un­veiled a $3bn (£2.3bn) op­er­at­ing loss for the sec­ond quar­ter of 2020, while rev­enues slumped 25pc from a year ear­lier to $11.8bn as car­ri­ers around the world rushed to can­cel or­ders fol­low­ing a plunge in air travel. Bri­tish Air­ways, the last ma­jor op­er­a­tor of the pas­sen­ger ver­sion of the 747, an­nounced ear­lier this month that it was re­tir­ing its fleet im­me­di­ately be­cause of the steep fall in de­mand for pas­sen­ger lights.

Boe­ing’s chief ex­ec­u­tive Dave Cal­houn con­firmed re­ports that the com­pany in­tends to stop build­ing the jumbo. The com­pany cur­rently pro­duces six of the planes each year, all for cargo use.

Boe­ing was al­ready in trou­ble even be­fore coro­n­avirus stuck, fol­low­ing the ground­ing of the 737 Max early last year.

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