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Boeing confirms 787 Dreamliner production is moving from Everett to South Carolina in March

The company posted record losses on Wednesday and confirmed Dreamliner final assembly would be consolidated to Charleston in March 2021.

Boeing confirmed Wednesday that all 787 Dreamliner production will move to South Carolina in March 2021. 

KING 5 first reported the move in late September, when reports emerged that 787 assembly would be leaving Everett and relocating to Charleston, S.C. 

At the time, Gov. Jay Inslee said Boeing's move would force him to take "a hard look at the company’s favorable tax treatment." 

RELATED: Boeing moving all 787 Dreamliner production from Everett to South Carolina

Boeing shared the following statement on their website Wednesday: 

"Commercial Airplanes production rate assumptions reflect the continued impacts of COVID-19 on commercial demand, and the company will continue to assess them on an ongoing basis. 

The 737 program is currently producing at a low rate and expects to gradually increase production to 31 per month in early 2022 with further gradual increases to correspond with market demand. 

The 787 program plans to transition its production rate to 5 per month in March 2021, at which point 787 final assembly will be consolidated to Boeing South Carolina." 

Also on Wednesday, Boeing announced a record full-year loss of $11.94 billion. 

Boeing closed out its worst year ever financially by losing $8.4 billion in the fourth quarter as the pandemic has undercut demand for planes, and the company announced another costly delay to its new large jetliner designed for long-haul flights.

RELATED: Boeing posts record full-year loss of $11.94 billion

RELATED: Boeing moving all 787 Dreamliner production from Everett to South Carolina