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Boeing again cutting widebody production rate

Published 12/04/2020, 09:47 AM
Updated 12/04/2020, 12:16 PM
© Reuters. FILE PHOTO: The company logo for Boeing is displayed on a screen on the floor of the NYSE in New York

SEATTLE (Reuters) - Boeing (NYSE:BA) Co is reducing its 787 widebody production to five jets monthly in mid-2021 from six, and delivered zero 787s to customers in November, as longer-haul travel demand remains weakened by the coronavirus pandemic, the U.S. planemaker's Chief Financial Officer said on Friday.

Boeing's Greg Smith also told a conference that there is no "normal profile" currently for jet pre-delivery payments or PDPs, which are tied to production rates. Boeing has been forced to cut production due to the 20-month grounding of its cash cow 737 MAX after fatal crashes and the pandemic downturn.

"I think we've got a couple years here where PDPs will be a little bumpy," Smith said.

Latest comments

Bullish on Boe : Bearish on Earth.
No plane sold, that is a buy signal on "hope" they eventually sell a plane, BUY BUY BUY hahaha
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