Why the 747 Is Flying Off Into the Sunset

The 747 may be about to fly off into the sunset for the final time.
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The 747 may be about to fly off into the sunset for the final time, as Boeing Co. (BA) - Get Report has signaled that the company is ready to drop its iconic passenger jet.

The aircraft maker said it recognizes how demand for the model is declining and that the market reality is that the jet may be phased out entirely.

Boeing believes models such as the 787 Dreamliner and 777X will replace the old 747 passenger jet.

Randy Tinseth, Boeing's Vice President for Marketing, said, "We don't see much demand for really big aircraft going forward.''

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Editors' Pick: Originally Published on October 19. 

This article was written by a staff member of TheStreet.