Boeing Boosts 777 Production

EVERETT, Wash. ( TheStreet) -- Boeing ( BA) said it has pushed 777 production to seven a month.

On Monday, workers rolled out the first 777, which was built at the new production rate of 49 days, down from 52 days. The airplane, a freighter, will be delivered to FedEx ( FDX) in June.

"This rate increase reflects the strong demand for the 777," said Larry Loftis, 777 vice president and general manager, in a prepared statement. "It continues to be the clear leader in the 300-400 passenger seat market. We were prepared, thorough and disciplined as we have increased our production rate from five to seven."

Boeing has produced seven 777s per month three times in the past, including periods during 1997-1998, 1998-1999 and 2006-2010.

-- Written by Ted Reed in Charlotte, N.C.

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