Twilight of the 747

[marmar]

(Bloomberg) Boeing Co. (BA) is slowing production of its 747-8 jumbo jet, the planemaker’s biggest model ever, for the second time this year as demand continues to dwindle for four-engine aircraft.

The new rate will be 1.5 planes a month, a pace that will be maintained through 2015, Chicago-based Boeing said yesterday in a statement. That’s a 14 percent drop from the 1.75 rate announced in April and a 25 percent decline from production at the start of 2013.

While Boeing hasn’t yet netted any new sales for the jumbo this year, it’s in “active” discussions with several customers and looking forward to a 2014 rebound in the cargo market, which could spark interest in a freighter version of the 747-8, Doug Alder, a Boeing spokesman, said in an interview. Korean Air Lines Co. agreed to buy five of the passenger version in June, though it never completed its order.

“It’s not a surprise, in fact it’s smart,” Howard Rubel, a New York-based aerospace analyst with Jefferies Inc., said in a phone interview. “It tightens up the market, doesn’t put airplanes out there that can’t be sold.” ...................(more)

The complete piece is at: http://www.bloomberg.com/news/2013-10-18/boeing-cuts-747-production-again-as-demand-wanes-for-biggest-jet.html

[Kaleva]

1. First commercial flight was back in 1970 for the 747

Originally thought to become obsolete after about 400 were built, it has turned out to be one of those designs that has staying power.

[1-Old-Man]

2. So much for "Supply side economics"

Ronald Reagan, Supply side economics, the notion that if you build it they will come, shot straight in the ass once again.

[MineralMan]

3. Planes with two sevens in their name...

My first airline flight was on a Boeing 707. It was 1965, and the flight was to San Antonio, Texas, where I was about to get yelled at by a USAF drill sergeant. Since then, I've flown on every 7?7 plane Boeing has ever built. The continuity is wonderful.

[A HERETIC I AM]

4. I read that Boeing used the number 7 in the designations of their aircraft....

for good luck.

Even the B-52;

5 + 2 = 7

I know not every single model they ever built has this peculiarity, but that vast majority do.

[MineralMan]

6. Hmm...could be.

I have no idea, but flying on Boeing airplanes has always brought me good luck. These days, it's almost always a 737, since I moved to Minneapolis. Shorter flights, I guess.

[Spider Jerusalem]

5. This doesn't really come as a surprise

most customers for a plane this size will be buying the Airbus A380,which seats more passengers, has a greater operating range, better fuel efficiency and higher maximum speed. Any one of those factors would be enough to sway commercial operators toward the Airbus, all of them together make buying 747s an unattractive option.