The days of the jumbo jet are coming to an end — here's a look back at its glory years

For more than 40 years, the

 wide-body jumbo jet ruled the skies. But with changes to aviation regulation, airline business strategy and improvement in turbofan engine technology, the days of huge aircraft are drawing to a close.

Since its introduction in 1969, the Boeing 747 has transformed the way people travel. With its ability to fly 500 passengers, 6,000 miles, the jumbo jet allowed airlines to reach new destination while achieving profitability by lowering the per seat cost of operation.

Over the years, the big Boeing was joined in the longhaul widebody market by offerings from McDonnell Douglas, Lochkeed and Airbus. In 2005, Airbus introduced the double-deck A380-800 — perhaps the most capable rival the Boeing jumbo jet had ever encountered. 

But these days Boeing and Airbus are having a hard time finding new buyers for both aircraft. The cost of purchasing such a large aircraft, combined with the fact that they're relatively energy inefficient, makes them impractical.

Demand for the big jets has also dwindled as aviation regulations changed, airlines moved away from the hub-and-spoke model for their routes, and as jet-engine technology improved – making it safer for aircraft to fly long distances with just 2 engines.

In the last eight years, Boeing has sold just 45 jumbos — the majority of which are to be deployed as heavy freighters, and earlier this year Boeing announced it will be cutting back 747 production to just one per month. Airbus hasn't won an airline order for the double-decker jet since it sold Emirates a batch two years ago.

James Hogan, the chief executive of Emirates' rival Etihad was unequivocal when asked by Business Insider if the group will buy another four-engined jet.

"No, we're done,"Hogan said. "We just believe in two-engine technology — they are much more efficient." 

If fact, Virgin Atlantic CEO Craig Kreeger told Business Insider earlier this year that he's surprised Airbus was able to find as many takers for the A380 as they have.

Long-distance and transoceanic flights were traditionally exclusively covered by the 747 and its fellow three or four-engined, widebody jumbos because, when it comes to the engine count on an airliner, the thinking was that there is safety in numbers.

But as modern turbofan engines became more reliable, and engine failures far less common – the thinking, and the regulations changed.  As a result, most airlines have turned to twin-engine mini-jumbos that are more fuel-efficient.

Furthermore, airlines are moving away from the "hub and spoke" business model which calls for massive numbers of the passengers to be routed through a single mega-hub. Smaller, fuel efficient jets such as the Boeing 787 Dreamliner allow airlines to offer passengers non-stop, point-to-point service without transiting through a hub.

Here's a look at the glorious past of the jumbo jet.

The Boeing 747 first flew in February of 1969.

The big jet and the Everett, Washington factory in which it was built were designed and constructed in just 16 months by a team of 50,000 Boeing employees.

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This group of people became known as the "Incredibles."

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The 747 was a major gamble for Boeing. The prevailing thinking at the time was that the world was heading towards supersonic travel.

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Boeing bet that people wanted to travel in comfort for less money.

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As the legend goes, Pan Am boss Juan Trippe told Boeing he needed a plane twice the size of ...

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To give Pan Am the capacity it was looking for, Boeing added a second aisle to the cabin — thus creating the widebody jet.

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According to Boeing, the 747 could carry 3,400 pieces of luggage and could be unloaded in just seven minutes.

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With seating for as many as 550 passengers, the 747 truly dwarfs the 707 as well as other workhorse jets of the era such as the ...

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... Douglas DC-8 and ...

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