AEROSPACE & DEFENSE

747 Program Feeling the Pressure: Boeing Co. President Phil Condit said production of the company’s lucrative 747 jumbo jet is under pressure because of the sluggish air travel market. Wall Street analysts who attended a closed meeting with Condit said he told them that any launch of a 787 “super jumbo jet” with 750 or more seats would likely not occur before the end of the decade. Boeing shares fell $1 to close at $34 on the New York Stock Exchange as word of his comments came out. However, analysts said Condit gave a generally upbeat appraisal of the company’s ability to weather the aviation downturn.