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Boeing to reduce 747 production rate, take a $569 million after-tax charge

Boeing is to cut the rate of production for the 747

The company cites slower growth in the air cargo segment. Says Ray Conner, Boeing vice chairman and president and CEO of Boeing Commercial Airplanes:

In September 2016, the 747-8 program's production will decline from one airplane per month to 0.5 per month

Prior announcements said the rate would drop from 1.3 per month to one per month in March 2016

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Those are significant cuts from Boeing. The reduction in air cargo demand is indicative of a slowing global economy. Other segments are holding up though.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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