Boeing 747 could be near end of run as economical rivals pull ahead

For decades, the Boeing 747 was the Queen of the Skies. But the glamorous double-decker jumbo jet that revolutionised air travel and shrank the globe could be nearing the end of the line.

Boeing has cut its production target twice in six months. Just 18 will be produced in each of the next two years. Some brand-new 747s go into storage as soon as they leave the plant. Counting cancellations, it had not sold a single 747 this year until Korean Air bought five on Thursday.

Boeing says it is committed to the 747 and sees a market for it in regions such as Asia. But most airlines simply don't want big, four-engine planes anymore. They prefer newer two-engine jets that fly the same distance while burning less fuel.

"We had four engines when jet engine technology wasn't advanced," Delta Air Lines CEO Richard Anderson said recently. "Now jet engines are amazing, amazing machines and you only need two of them."

Part of the problem is all those seats. A 747 can carry from 380 to 560 people, depending on how an airline sets it up. A full one is a moneymaker. But an airline that cannot fill all the seats has to spread the cost of 63,000 gallons of jet fuel - roughly US$200,000 - among fewer passengers.

They're also too big for most markets, and business travellers want more than one flight to choose from, so airlines fly smaller planes more often.