Boeing to Report $569 Million Cost as 747 Jumbo Output Cut
- Planemaker says it will halve production of the iconic jet
- Orders have lagged as the cargo market slumps, company says
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Boeing Co. plans to report a $569 million after-tax accounting loss as it cuts production of the iconic 747 jumbo jet in half amid waning demand for four-engine aircraft and a slumping cargo market.