Boeing to increase production of 777 aircraft

NEW YORK (BestGrowthStock) – Boeing Co (BA.N: ) for the second time this year said it will increase its 777 aircraft production rate based on strong global demand.

Boeing said on Monday it will raise its production of the airplanes to 8.3 per month in the first quarter of 2013. In March, the company announced it would increase production to seven from five airplanes per month starting in mid-2011.

“In response to strong customer demand globally, we are increasing our yearly production to 100 777s,” Boeing Commercial Airplanes President and Chief Executive Jim Albaugh said in a statement.

The 777 has “a track record of proven performance including 1,163 orders, 907 deliveries and a backlog of more than 250 airplanes,” he said.

Boeing said the production rate increase is not expected to have a material impact on 2010 financial results.

(Reporting by Lynn Adler, editing by Gerald E. McCormick)

Boeing to increase production of 777 aircraft