
© David Ryder/BloombergBoeing Co. facility in Everett, Washington
After years of lackluster sales, Boeing has warned it could stop producing its legendary 747 jumbo jet if orders do not pick up. "It is reasonably possible that we could decide to end production of the 747," Boeing said Wednesday in a regulatory filing.
The company previously announced it would halve production of the aircraft from 12 per year to just six beginning in September.
Dubbed the "queen of the skies," the world's original jumbo jet has long been a favorite of the flying public. The aircraft made its commercial debut in 1970, and more than 1,500 have now been delivered. But interest in the 747 has waned in recent years as airlines shifted most of their purchases to smaller, two-engined aircraft in order to save on fuel costs. The Airbus A380, another massive jumbo jet, has also suffered from weak demand. The 747 program has also been hit by slower growth in the air cargo business.
Boeing has at least one more high-profile 747 order to fill. In 2015, the Pentagon announced the
next generation of Air Force One would be a military version of the 747.
Boeing (
BA) shares are down roughly 7% so far this year. On Wednesday, the company said it lost $234 million during the most recent quarter.
Comment: This is huge news. B.C. Supreme Court Justice Catherine Bruce is saying the same thing we at SOTT have been saying for years. How many of these stories have we been seeing in the U.S. since the bogus 'war on terror' began!? Too many to count! Canada's "CIA" - CSIS - got in on the act of entrapping gullible and mentally challenged individuals - thanks to the instruction manuals and direction of their psychopathic buddies to the south, no doubt. But this case sets a precedent that will hopefully make them think twice about doing it again (it's a long shot, but it's more than the U.S. has).
Like the CIA, NATO and many other "security" agencies that exist, CSIS needs to manufacture acts of terror in order to justify its existence and payroll. These are the real terrorist nut jobs; demanding a salary for being able to act out their U.S. and Israeli-inspired pathological tendencies. Now if only something similar were to happen in the States.
Just a sampling of the hundreds of stories we have covered here highlighting the problem: