757 Line to close

[tlax25]

A buddy of mine just emailed and said he had heard that Boeing officially announced closing the 757 line in 2004. Can anyone confirm this rumor?

 

[TWA Dude]

Here

Reuters
UPDATE - Boeing to shut 757 line, take charge
Thursday October 16, 5:32 pm ET


(Adds details on Continental orders, earnings outlook)
SEATTLE, Oct 16 (Reuters) - Boeing Co. (NYSE:BA - News), the world's largest aircraft maker, on Thursday said it would shut down its 757 narrow-body jet line in Renton, Washington, in late 2004 after 22 years for lack of orders, and take a pretax charge of $184 million.

The charge equates to 14 cents per share before taxes and covers costs that will be incurred through 2005.

Prior to the announcement, Boeing was projected to post earnings of 37 cents per share in the third quarter according to the consensus forecast of Wall Street analysts polled by Reuters Research, a unit of Reuters Group Plc.

Boeing's Seattle-based jetliner unit delivered more than 1,000 of the mid-sized 757s since 1982 but airlines in recent years have instead bought the smaller and cheaper 737 model as well as jets from rival Airbus SAS (XETRA:EAD.DE - News; Paris:EAD.PA - News).

Boeing is also developing a larger jet, the proposed wide-body 7E7, which would seat 200 to 250 passengers, roughly matching the 757's capacity, but would fly further with a more comfortable cabin environment.

Earlier on Thursday long-time Boeing customer Continental Airlines (NYSE:CAL - News) said it would take delivery of five 757-300s on order but would convert orders for six more to 737-800s.

Boeing's Web site lists orders for only 18 757s, including Continental's 11, and the jet maker has been delivering just one or two 757s per month this year.

Excluding jets inherited with its 1997 purchase of rival McDonnell Douglas, Boeing has not shut down a jet line since 1991, when it finished building a smattering of military versions of the venerable 707.

Prior to that Boeing's last closure was the 1984 shutdown of the 727 tri-jet.

 

[Stifler's Mom]

That's too bad....in my opinion, the 757 is the sharpest looking commercial plane out there.

 

[Dutch]

757 Description

Skinny body, long legs and big jugs...how can you go wrong with that combo?