Does United's move mean end of the line for the 747?

 http://www.chicagotribune.com/business/ct-boeing-747-decline-htmlstory.html

 

United's announcement this week that it is speeding up retirement of its Boeing 747s comes after years of talk of the iconic jumbo jet's demise.
Changes in airline fleets move slowly, and United's announcement would take years to implement, but the Chicago-based airline's transition is part of a global trend. "The Boeing 747 has been in the sunset of its product life cycle for many years," said Rob Morris, head of consultancy at Ascend, an aircraft industry observer. "Many other operators are making similar replacement decisions, and we thus expect the fleet trend to continue its decline."
United said it will turn to 777 and 787 to meet its capacity needs.
Boeing has faith in the 747 and pointed at growing cargo use and success in intercontinental flights. "While the current business environment may have slowed interest by some customers, we have a number of active campaigns underway and expect activity to pick up with the economy," said Tom Kim, a company spokesman. Kim said Boeing's projections show the need for 650 new cargo 747s in the next 20 years.
However, Morris pointed to the implications in the downward slope of 747s in service. "It seems only a matter of time before Boeing decides to terminate production of the aircraft," Morris said in an email. "Of course, when that decision is finally taken, the 747 will be judged as a significant success for Boeing."
The creation of the iconic 747 took the work of 50,000 engineers, mechanics, construction workers and administrators over a period of less than 16 months during the late 1960s. The first flight was Feb. 9, 1969. Through the years the plane was modified for various roles. Among the variants were military adaptations, expanded cargo and passenger space and hybrids using other Boeing planes.

Special duties

The 747s currently serve in two primary capacities, passenger and freight. The characteristic hump can be used for a first-class passenger lounge, and after removal of seats, modified with a hinged nose cone that flips up to load cargo easier. The plane also has a colorful past of unique functions.