Boeing announces the end of 747 era

In an open letter to employees, Boeing confirmed that the iconic 747 program will be completed in 2022.

The end of the 747 program was announced in an open letter to all Boeing employees, written by CEO Dave Calhoun. The letter also discussed the company’s financial results. In the letter, Calhoun indicates that, in light of the current market dynamics and outlook, it has been decided that the final Queen of the Skies will be built in 2022. However, the company will continue to provide service for all flying 747s well into the future.

The second quarter has once again been financially tough on Boeing. To improve its liquidity, the company recently issued $ 25 billion in bonds. In Q2, the aircraft manufacturer suffered a loss of 2,4 billion dollars, mainly caused by the dropping aircraft demand resulting from the coronavirus pandemic and the 737 MAX situation.

You can read the full letter here.