Boeing to stop making 747 jumbo jet: report

Boeing is pulling the plug on its 747 jumbo jet, Bloomberg News reported on Thursday.

The 747 democratized global air travel in the 1970s but fell behind modern twin-engine passenger jets.

The last 747-8 will roll out of a Seattle area factory in about two years, according to the Bloomberg report.

The news didn’t seem to greatly worry investors, who bid the stock up 1.1 percent in mid-afternoon trading, to $182.29.

Meanwhile, Boeing is coping with the grounding and canceled orders of a different model airplane, the 737 Max, after crashes in Indonesia in 2018 and Ethiopia in 2019 involving the now-troubled jet. The company, which has faced intense scrutiny from the FAA, started testing for recertifying the plane.