Boeing Gets New Orders For 747

Boeing has managed to receive four new orders for 747, worth $1.5 billion

Boeing Corporation manages to get order for its 747 jumbo jets worth $1.5 billion, which is a major step it as it was struggling to attain sales for its products. The airplane maker has not disclosed who the client is for this jumbo aircraft but it can be assumed that this mystery customer might be an airline, it made confirmation of these orders on April 8.

The aerospace company has made huge job cuts recently in order to save costs, reduce the prices of its products, and beat its major rivals in the market such as Airbus. Boeing confirmed the good news of receiving orders on Thursday, which is big for the company as it could not deliver the jet a year before. The first new order was disclosed of the 747-8F in December, it leased this product to a Russian firm, AirBridgeCargo, which signed for 20 of the airplane makers jets.

Boeing Co. website has the data of the order and it can be accessed bot the customer is not mentioned yet. This is a major step forward for the company for the 747-8, which has been in the market since the 1970s. In 2015, it only received two orders for this product at a price of $379 million. It has even reduced the production for this product at rate of six planes each year, as the company was not getting the right amount of orders to mass-produce the jet.

The commercial airplane, 747 has now managed to receive 23 orders since March out of which two of these jumbo jets have been manufactured for Transaero Airlines. Next week will mark this jumbo jets birthday, it had made it in the market for 50 years. The US jet maker managed to deliver 121 of its plane, 737 in the first quarter, which was the same as last year. It has reported 139 orders rather than 116; it is now focusing on making the deliveries on time.

Boeing was manufacturing 12 '747' jumbo jets each year, the number has gone down to 6 per year now. It has received numerous orders from the US Air Force as it focuses to renew its fleet and fighter planes. The US jet manufacturer is now expecting orders and trades globally within this year increasing the air cargo demand by 4% according to the marketing vice president of the organization, Randy Tinseth. It is now hoping to increase the power of its management and make the decision making as efficient as possible. It is facing its competition head to head, making efforts to lower its prices and attract as many customers as possible.