VENTURE CAPITAL POST

Boeing has been reported to wait for approval pending with the US government regarding purchase of F/A-18 jets by the Navy and Kuwait. Delay in approving funds has become a growing concern. Further delay in rendering approval may compel in Boeing authority to decide hundreds of millions dollar fund to keep its Saint Louis plant operative.

Boeing will report a $569 million after-tax accounting loss in its fourth quarter. The company will also reduce production of its 747 airplane starting September this year..

After ruling the global aviation sector for over 40 years, the wide-body jumbo jets faces a threat of possible extinction. The Boeing 747 wide-body, long-range jumbo jet faces stiff competition from Airbus A-380. Boeing sees a drop in orders for jumbo jets while Airbus has not received an order for the double-decker A-380 after the major order it won from Emirates Airlines.

Boeing has to cut production of its 747 jets because of the changing economic landscape, a report said.

The Boeing 747 could be headed towards an uncertain future, according to an Associated Press report.