Boeing Co, which received approvals from its board to proceed with building its 7E7 aircraft to catch up with rival manufacturer Airbus SAS, said it's in talks with two of Asia's biggest carriers about becoming its first customers.
The maker is in talks to sell the 7E7, which doesn't yet have a sale price, to Singapore Airlines Ltd and Cathay Pacific Airways Ltd, said Mike Bair, Boeing's senior vice president for the 7E7 program, on a conference call in Seattle, Washington. He expects the first customer next year.
PHOTO: EPA
"We've had substantial interest from a large number of airlines literally across the globe," Bair said. "We have all of the major airlines around the world" talking to Boeing on the 7E7, he said.
Boeing, which analysts estimate will need about US$5 billion to build the 7E7 plane, will have to sign up a sufficient number of orders from global carriers before the company's board lets it move ahead with the construction and sale of the aircraft.
Boeing's first new aircraft in 13 years will challenge the bigger A380 made by rival Airbus, which can carry up to 555 people.
The 7E7 will lay the design foundations for Boeing's future passenger jets. The manufacturer is hoping to attract carriers with the 7E7's fuel efficiency -- the "E" in the name means "efficiency" -- as global airlines cut back on fuel bills, the second-highest cost for any airline company after labor cost.
The Chicago-based Boeing can reach an agreement with its first 7E7 customer some time next year, allowing the company's engineers to begin detailed designs of the aircraft in early 2005, Bair said.
Boeing said it can sell as many as 2,500 7E7s, including 1,000 of its basic model and another 1,000 of a stretch model that can fly longer distances, planned for 2010. The remaining will be versions that can fly up to 3,500 miles. Boeing normally has several variants of one model with different seating arrangements and capable of flying different distances.
The 7E7 would be Boeing's first all new jetliner since the 777 program was launched 13 years ago. Boeing needs a new jet to keep up with Airbus, which will overtake Boeing this year in deliveries. Toulouse, France-based Airbus is outpacing Boeing in orders this year partly because its aircrafts are more versatile for flight crews.
Boeing's commercial airplane sales fell 25 percent to US$16.6 billion in the first nine months of this year from a year ago.
The 7E7 likely will eventually replace the 767. Boeing plans to stop making the 757 plane next year and wants the 7E7 design to be the basis for more efficient versions of the 747 and the 737.
The 737, the world's most popular aircraft, is used by discount carriers such as Southwest Airlines Co and Ryanair Holdings Plc.
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