Boeing loses five 747 orders, gains 777 order

Boeing Co said on Thursday that it lost five orders for its 747 jumbo jet worth about $1.8 billion at list prices and gained one order for its 777 wide-body plane in the latest week.

The changes bring to 255 the total number of net new orders logged so far this year, most of them for the popular 737 model. The 777 buyer was not identified.

Boeing recently said it would slow production of 747s in response to weakening demand for the jet, taking into account the five recent 747 cancellations by Dubai Aerospace Enterprise, a leasing and aircraft services company based in the United Arab Emirates.

Boeing said it will cut monthly production of 747s to 1.75 planes from two, due mainly to weak demand from cargo carriers. The list price of the plane is $352 million, but it typically sells for a discounted price.