Boeing cuts 747 production again as jumbo-jet demand shrinks

[CHICAGO] Boeing Co is slowing the production tempo for 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 14 per cent drop from the cut announced in April, a pace that will be maintained through 2015, Chicago-based Boeing said in a statement.

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.