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Friday, April 19, 2013

Boeing Reduces 747-8 Production Rate, Cites Low Demand

Boeing is reducing the production rate for its 747-8 jumbo jet from two to 1.75 planes per month. In a statement, the company said it is experiencing lower market demand for large passenger and freighter aircraft. 
The 747-8 is Boeing's most expensive model aircraft, with a $351 million list price for the passenger model, and $352 million for the freighter variant. In its 2012 20-year forecast, the company predicted demand for 790 large aircraft worldwide through 2031. 
Boeing expects long-term average growth in the air cargo market to resume in 2014. There have been a total of 110 orders placed for passenger and cargo versions of the 747-8, 46 of which have been delivered. 
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