Foreign business news in brief

SEATTLE: Boeing Co is to shut down its 757 passenger jet production line late next year, after building more than 1,000 of the mid-sized, single-aisle aircraft over the past two decades. 

“This decision reflects the market reality for the 757 as well as the growth in range and seating capacity of our market leading next-generation 737 family,” said Alan Mulally, the chief executive Boeing Commercial Airplanes. “Over the long term, the increased capabilities of our newest 737s and the exciting potential of the 7E7 will fulfil the market served by the 757.” – AP