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BOEING TO CUT 737 AND 747 PRODUCTION RATES

 SEATTLE, Dec. 1 /PRNewswire/ -- The Boeing Commercial Airplane Group will reduce production of its 737 and 747 jetliners because of the continuing inability of many airlines to purchase new equipment.
 The 737, now produced at 10 a month, will drop to 8.5 a month in November 1994. The 747, now at five a month and scheduled to go to three in February 1994, will be produced at two a month beginning in January 1995. The effective dates for these changes reflect Boeing's normal production lead-times.
 The number of company jobs to be lost as a result of these changes is expected to be between 2,000 and 3,000 in 1994. The company-wide employment forecast for 1994 is still being assessed and will be announced in early 1994.
 "While there are some signs of improvement in the air travel market, losses or inadequate profits continue at many airlines," said Ron Woodard, executive vice president, Boeing Commercial Airplane Group. "Until more customers are in a position to order new airplanes, we must reduce our production, as painful as that is for our employees, for our suppliers and for our communities."
 The production cut announced today is not tied to any particular customer; Boeing continually monitors the market, works with customers and changes production rates as overall order levels dictate. Boeing does not build airplanes on speculation so production levels reflect current customer orders.
 Here are the company's current announced production rates by model:
 December February November January
 Model 1993 1994 1994 1995
 737 10 10 8.5 8.5
 747 5 3 3 2
 757 5 5 5 5
 767 3 3 3 3
 Total 23 21 19.5 18.5
 -0- 12/1/93
 /CONTACT: Boeing Commercial Airplane Group Public Relations, 206-237-1710/
 (BA)


CO: Boeing Commercial Airplane Group ST: Washington IN: AIR SU:

RB-IC -- SE002 -- 9090 12/01/93 09:04 EST
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Publication:PR Newswire
Date:Dec 1, 1993
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