Boeing To Cut Twin-Aisle Production Next Year
Boeing announced this afternoon that it will cut production of its 777 line from seven to five airplanes a month beginning in June 2010 “due to significant

Boeing announced this afternoon that it will cut production of its 777 line from seven to five airplanes a month beginning in June 2010 “due to significant deterioration in the business environment for airlines and cargo operators driven by unprecedented global economic conditions.” The company also said it will delay previous plans to “modestly” increase 747-8 and 767 production rates. It stressed that it harbors no plans to pare back 737 production “at this time.”

The company said the production decisions and unfavorable price escalation will reduce its first-quarter 2009 net earnings by about $0.38 per share.