Boeing Anticipates Increase In Demand For Commercial Planes (BA)

Boeing (NYSE: BA) is planning to augment production rate of two of its commercial jet programs. The company is optimistic about an increase in demand from the commercial airline sector. Randy Tinseth, vice president of Marketing for Boeing (BA) Commercial Airplanes, said, “We see 2010 as the year of overall economic recovery within the industry and 2011 a year where airlines return to profitability. As a result, we anticipate an increase in demand for airplanes in 2012 and beyond."

The company is planning to increase its monthly production of 777 jets to seven planes by mid-2011. Currently, it produces five planes a month. Similarly, the production rate for 747 jets will be increased to two planes per month by mid-2012.