Boeing hits 777 milestone
The company has successfully deployed its strategy of targeting commercial airplanes as its major future growth driver.
This is a significant milestone for the company, making 777 the fastest twin-aisle airplane ever to reach this mark. It also validates Boeing's strategy to target commercial airplanes as its major growth driver in coming years. Commercial airplanes are the most valuable division at Boeing, accounting for nearly 53% of the stock's value.
Boeing touts the advanced long-range capabilities and improved environmental performance of the 777. Coupled with Boeing's strong reliable production system, the aircraft has become a favorite choice for commercial airlines all over the world.
Last year was exceptionally good for this aircraft, handing Boeing a record 200 orders from 22 customers. The second- highest annual order tally was the 154 recorded in 2005. Boeing has decided to increase its 777 production by 20% from next fall, notching up to 8.3 aircraft per month. It wants to produce 100 of these jetliners every calendar year starting in 2013. Boeing has until now recorded orders of 1,361 777s from 64 customers around the globe.
It is fitting that Boeing will deliver this 1,000th plane to Emirates, the biggest operator of these jetliners. Emirates currently has 102 of them in its fleet along with 84 passenger aircraft and 9 freighters on order. Emirates is the only airline in the world to operate all six airplanes of the 777 family.
The 1,000th 777 which will be delivered to Emirates is a 777-300ER (extended range) model that seats 360 passengers in a three-class configuration. Emirates expects the long-range haul capabilities of this aircraft to play a critical role in its quest to develop Dubai as the gateway to worldwide air travel.
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The solid report comes a month after the retailer closed all of its Canadian operations.
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