Boeing is to lower the production rate of its 747-8 programme from 1.75 to 1.5 aircraft per month due to poor market demand. The adjustment will come into effect in 2015; one year after the first 747-8 delivery is due. "Although we are making a small adjustment to our production rate, it doesn't change our confidence in the 747-8 or our commitment to the programme," commented Eric Lindblad, VP and general manager for the 747 programme. Boeing has taken only 107 orders for the 747 since its launch in 2005. Critics have argued that the four-engined aircraft costs airlines more in both fuel and maintenance. However, Boeing said it still predicts global demand for 760 large aircraft, which includes the 747-8, over the next 20 years. The manufacturer has said that the new production rate is not expected to have a significant financial impact.