The Boeing 747 was once the most popular plane is the sky, but the huge jet may soon stop being produced.
Boeing has already started to cut the production of the Boeing. They cut its target twice in six months and only 18 are planed to be made over the next two years. Boeing hasn't sold one 747 in 2013 and some of those included orders that were cancelled. Many brand-new 747s go straight to storage as soon as they're done being made, the Associated Press reports.
Boeing still has a soft spot for the 747 as it believes it can still do well in regions like Asia but many airlines are no longer looking at huge, four-engine planes that burn a lot of fuel. Newer two-engine jets that burn less fuel have become the more appealing option.
"We had four engines when jet engine technology wasn't advanced," Delta Air Lines Inc. CEO Richard Anderson said according to AP. "Now jet engines are amazing, amazing machines and you only need two of them."
One of the problems with the Boeing 747 is the number of seats. The plane can fit anywhere from 380 to 560 people but it only really makes money if the plane is full, which is hard to do. With less passengers, the airline has to spread the cost of the 63,000 gallons of fuel to fly it, which costs about $200,000.
Bigger planes are more of a problem as there aren't enough travelers to fill a plane from Atlanta to Paris, as an example. Business travelers like having many flight options, so airlines tend to fly smaller jets several times a day.
"No one wants the extra capacity" Teal Group aviation consultant Richard Aboulafia said.
The Boeing 747 is also the most expensive plane and goes for $350 million.
The Boeing 747 was a game changer when it first hit the skies. The company started producing the planes in the late 1960's and production peaked in 1990 with 122. Throughout its existence, Boeing has sold 1,418 47s before it was redesigned in 2011. Boeing can credit the jet for putting it ahead of U.S. competitors.
The company says that slowing production of the 747 wont impact the company much. The company is still doing well and has a backlog of about 4,787 planes, most of which include the 737. The 777 is also a popular option which may completely kill off the demand for the 747 from passenger airlines. The only 747s that may continue to be ordered are the freighter versions.
This article is copyrighted by Travelers Today, the travel news leader
