Boeing cuts production rate of 747-8 jumbos

Reuters

Boeing Co said it would cut the production rate for the latest version of its Boeing 747 jumbo jets from 2 aircraft per month to 1.75 aircraft due to lower demand for large passenger and cargo planes.

The first delivery of 747-8 aircraft at the new production rate is expected in early 2014, the company said, adding that the change was not expected to have a significant financial impact.

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(Reporting by Sagarika Jaisinghani in Bangalore)