Boeing is moving even faster than announced just this week in boosting output for the 777 and 747-8 production lines.

Boeing Commercial Airplanes President and CEO Jim Albaugh said earlier that the decision would be made in April. Instead, Boeing made it March 17.

The new plan sees 777 product rates return to seven aircraft per month from five. It made the decision to cut back to five aircraft only last year, but strong demand has caused Boeing to be bullish about future deliveries. The new rate will take effect in mid-2011.

Albaugh had said there was a 15-month lead time, so he is giving the company and suppliers extra time to get to the new level. Boeing signals the increase in output is happening around six months earlier than planned.

On the 747 front, production of the aircraft will be brought to two aircraft per month from 1.5 aircraft in mid-2012, rather than mid-2013 as planned.

In announcing the change, BCA VP for marketing, Randy Tinseth, says, “We see 2010 as the year of overall economic recovery within the industry and 2011 as a year where airlines return to profitability. We anticipate an increase in demand for airplanes in 2012 and beyond.”

Boeing also is mulling an increase in 737 output, with a decision expected by mid-year.

The 2010 financial results should not significantly be affected by the changes.

777 photo credit: Boeing