Boeing accelerates production push

SEATTLE, March 19 (UPI) -- U.S. industrial giant Boeing said the market for planes had improved to the point where it would "accelerate" a production push for two commercial aircraft.

"Our customers recognize the great capability and value of the 777 and 747-8," Jim Albaugh, Boeing commercial airplanes president and chief executive officer, said Friday in a statement.

Boeing said it would "accelerate planed rate increases on both the 777 and 747 programs," reflecting "increasing customer demand."

The company said it would produce seven 777 planes a month, a jump from the current rate of five per month, in mid-2011, as opposed to a previous plan of pumping up production in early 2011. It would push production of the 747 from 18 a year to 24 a year in mid-2012, a year ahead of the production schedule previously announced.

"We see 2010 as the year of overall economic recovery within the industry and 2011 a year where airlines return to profitability. As a result, we anticipate an increase in demand for airplanes in 2012 and beyond," said Randy Tinseth, vice president of marketing for Boeing's commercial airplane division.