Boeing Corporation has ended the production of Boeing 747 aircraft after 50 years of operation, Bloomberg reported referring to sources.
According to the agency, the latest Boeing 747-8 will be assembled at the Seattle plant in nearly two years. This follows from subtle changes in the financial statements, the sources noted. Company employees have not yet been informed of this decision.
Despite the popularity among passengers, the liner is not in demand for most routes, as airlines have switched to dual-engine aircraft for flying over long distances, the agency noted.
"The Chicago-based company has lost about $40 million for each 747 since 2016, when it slowed production to a trickle, making just six jets a year, Jefferies analyst Sheila Kahyaoglu estimated. All told, Boeing has recorded $4.2 billion in accounting charges for the 747-8, which has been kept alive as a freighter. The 747 notched its last order as a passenger jet in 2017 -- for Air Force One," Bloomberg said.