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Boeing cuts widebody production as COVID-19 hits demand

Boeing cuts widebody production as COVID-19 hits demand

Boeing's Chief Financial Officer 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 delivered zero 787s to customers in November Boeing delivered zero 787s to customers in November

Boeing 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.

Also Read: Brazilian aviation regulator revokes Boeing 737 MAX ban after design changes

Also read: What is 'Covid passport'?

Published on: Dec 04, 2020, 9:41 PM IST
Posted by: Mohammad Haarisbeg, Dec 04, 2020, 9:41 PM IST