in Business & Finance

Boeing will not increase production of 787 and may cut 777 out-put unless sales improve

Posted 12 August 2016 · Add Comment

Boeing has said it will not increase 787 out-put and could further cut 777 out-put unless sales of both jets improve.

“If the market’s not going to demand it, we’re not going to go,” said chief financial officer Greg Smith. “It’s not the end of the world if Boeing keeps 787 production at 12 a month instead of lifting it to 14 as planned. We can still be profitable in the programme as I see it today at 12.”

Boeing took $1.7 billion in after-tax charges in its latest result for the 787 and 747 programmes to account for excess 787 inventory and slow 747 sales.

Smith said the company would decide in the next two months whether to cut 777 output further.

 

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