Boeing 747 TransamericaTransamerica Boeing 747 airplane model. The groundbreaking 747 transformed the world of air travel. With size and efficiency surpassing its predecessors, the 747 significantly lowered operating costs per seat, resulting in more affordable long haul international flights. The idea for the 747 was sparked in the mid 1960s, after Boeing lost a bid for a US Air Force contract for a large strategic transport (later fulfilled by the Lockheed C 5 Galaxy).