Boeing Is Spending $1 Billion to Expand Key 787 Production Facility

• Boeing has dedicated $1 billion to develop its 787 Dreamliner manufacturing plant in South Carolina.
• The funding goals to improve infrastructure and create 500 jobs over 5 years.
• Boeing is trying to ramp manufacturing up after a troublesome yr through which it confronted main losses.

Boeing mentioned on Thursday it is going to commit $1 billion to its 787 Dreamliner manufacturing plant in South Carolina because it seeks to ramp up manufacturing after a tough 2024.

The Virginia-based agency has deliberate for the funding to go towards infrastructure upgrades on the web site and creating 500 new jobs within the subsequent 5 years.

Boeing introduced in a joint press launch with the South Carolina Division of Commerce that the outlay will develop its two North Charleston campuses to assist assist elevated manufacturing of 787 Dreamliners to fulfill manufacturing targets and a possible future rise in market demand.

The plane manufacturing large hopes to succeed in a charge of 10 planes a month by 2026, up from beneath 5 a month in July 2024.

Boeing has struggled to maintain up with its order backlog amid questions on its high quality management following the Alaska Airways blowout in January. Its issues have been compounded when over 30,000 manufacturing facility employees went on strike for almost seven weeks.

The aviation large has a backlog of round 5,400 business plane value roughly $428 billion.

Boeing’s announcement comes because the planemaker faces competitors from Airbus, which mentioned in April it might improve its manufacturing of its rival A350 jet from 10 a month in 2026 to 12 a month in 2028.

Boeing is dealing with a troubled monetary outlook after a tough yr, through which it changed its CEO and confronted heavy scrutiny from regulators. It posted a lack of over $6 billion within the third quarter of 2024, and in the course of the manufacturing facility employee strike, it mentioned it might search to lift $24.3 billion to spice up its liquidity. Its share worth has dropped 37% because the begin of the yr.