Boeing could soon see the last of its iconic four-engine 747, which has been in service since 1970, the company said this week. If orders for the jet don’t pick up soon, “It is reasonably possible that we could decide to end production of the 747,” the company said, according to Bloomberg News. In a conference call about Boeing’s quarterly financial report, CEO Dennis Muilenburg said the company is “aggressively driving productivity and cost reduction to win additional orders” for the 747-8. The air-cargo market remains weak, the company said, with operators renting space in airline cargo bays and ships instead of investing in cargo planes.
Overall, Boeing said, its financial position is strong, with nearly 5,700 commercial airplanes on order, valued at $417 billion. Boeing announced last year that a 747-8 had been chosen as the next Air Force One. The company has delivered more than 1,500 of the iconic jumbo jets around the world.
