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Boeing to cut 747-8 production in half as demand slows

Published Fri, Jan 22, 2016 · 09:50 PM
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Seattle

BOEING Co said on Thursday that it will cut production of its 747-8 jumbo jet in half and take a US$569 million charge in the fourth quarter as it faces dwindling sales.

The four-engine jet is now mostly a cargo workhorse, eclipsed by more fuel-efficient twin-engine jets for passengers. It is also being used to upgrade the US Air Force One presidential fleet, but that will be a small number of planes.

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