Chicago, Illinois - Aerospace company Triumph Group Inc, which has so far produced every single fuselage for Boeing's jumbo jets, is selling everything in the factory in an online auction.
All materials in the factory, from band saws to an automated press, are waiting for their new owners from $5 to $100.000.
The company began the fuselage production for Boeing 747s when Pan American World Airways placed the initial order for the aircraft in 1966.
Triumph Group is currently the largest supplier for the 747-8 program. The decision of the manufacturer may force Boeing to cease its 747-8 program.
Although Boeing has enough orders in its backlog to keep the production line for now, investing in manufacturing fuselages for its 747-8s wouldn't be feasible for the American Aerospace giant.
The closure of the factory would mark the beginning of the end for the Boeing's iconic jumbo jet named Queen of the Skies.
In 2016, Boeing negotiated with the Triumph Group to take over the factory's fuselage sections, but dropped that plan due to inadequate sales figures.
We are continuing to build 747-8s to meet the backlog of orders for the airplane and will continue to make the right decisions to keep the production line healthy,
said Boeing spokesman Paul Bergman.
With production slots filled for the next several years, we are working closely with our suppliers to deliver on our customer commitments.
Boeing 747 opened a new era in air travel when it was introduced to the market in 1970. But the four-engine jet lost its popularity over time with the arrival of more efficient twin-engine widebody jets such as the Boeing 777 and Airbus A350.
Boeing currently produces only the freighter version of the aircraft.
It has just 18 orders in its backlog waiting to be delivered to the freighter operators such as UPS.
The American aircraft manufacturer couldn't be able to record any order for the 747-8F this year as tariff wars between the United States and China weakened