3/19/2010- Boeing (NYSE:BA) announced that it will accelerate planned rate increases on both the 777 and 747 programs, according to a Bloomberg report.
The increases will support demand in the recovering airplane market. The company is accelerating the 777 program's rate increase to seven airplanes per month, up from five per month, and accelerating the 747 program's planning production rate increase to two airplanes per month, up from one and a half per month.
President and CEO of Commercial Airplanes Jim Albaugh said, "Our customers recognize the great capability and value of the 777 and 747-8. Market improvement and our conservatively managed approach to production have put us in a position where we see it necessary to raise aircraft output. Increasing our rate is the right thing to do to support our customers."
Keywords: Boeing 747 777
Ticker(s): BA
