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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

twitter-logoReuters | December 4, 2020 | Updated 21:42 IST
Boeing cuts widebody production as COVID-19 hits demand
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'?

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