Did you know Boeing bet about a billion dollars on the 747?

Short answer

In 1968, the cost of the 747 programme was $1 billion, equivalent to $7.1 billion in 2025 dollars, and it was said that management had bet the company on launching the project. Boeing's debt exceeded $2 billion, with $1.2 billion owed to banks.

Published: November 4, 2026 · Updated: November 4, 2026 · Edited by Above Ten Thousand · Editorial policy

Did you know Boeing bet about a billion dollars on the 747?

Lufthansa Boeing 747-400 departing BostonFoto: 4300streetcar (CC BY 4.0)

A billion dollars in 1968

Developing the aircraft was such a technical and financial challenge that it was said management had bet the company on launching the project. By 1968, the programme's cost stood at $1 billion, equivalent to $7.1 billion in 2025 dollars.

Debt and credit requests

The enormous cost of developing the 747 and building the Everett plant forced Boeing to take on heavy debt with a banking syndicate. In the final months before delivering the first aircraft, the company repeatedly had to request additional financing to complete the project. Had it been refused, Boeing's survival would have been at risk. The firm's debt exceeded $2 billion, of which $1.2 billion was owed to banks, a record for any company.

The orders on the other side of the scale

By the time the 747 was ready for its unveiling, 26 airlines had placed orders for the new jet. Contracts worth more than $1.5 billion had already been signed, with more expected. In 1966, Pan Am had signed a $550 million contract for 25 aircraft, with delivery before the end of 1969. The 747 entered service on 22 January 1970 on Pan Am's New York–London route.