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Boeing cuts production

Aircraft manufacturer Boeing says it will cut production of some airfreight planes by half as the air cargo industry slows

Boeing cuts production

Demand for airfreight fell last November compared to the prior year

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Boeing announced yesterday (Thursday) it would cut production of its freight workhorse 747-8 aircraft by half as the air cargo industry slows, reports MailOnline.

Boeing told the publication it could move from completing one 747-8 per month to one every two months from September.

The company said data in November showed air freight had contracted by 1.2 per cent over a year, even as air passenger volumes grew 5.9 per cent.

"We are closely monitoring the air cargo market as we work to win additional orders to support ongoing future production," Boeing chief financial officer Greg Smith is quoted as saying.

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