Aircraft manufacturers Boeing (NYSE:BA) and Airbus are constantly vying to produce planes that are more efficient, seat more passengers and fly greater distances. By flashing blueprints of its 777-8x to different airlines this week , Boeing is trying to claim the title of long-distance champion in the sky.
Reuters reported that the company has generated a great deal of interest in its new type of 777, which could potentially travel over 9,500 nautical miles, an improvement over its 777-200LR planes. At the moment, the 777-200LR can fly the longest distance. Boeing is showing different clients the plans for its new plane in hopes of securing deals, which would lead to board approval and, finally, the clearance to start manufacturing the aircraft.
The appeal of planes able to handle long-distance flights comes down to cost savings for the airlines. If a plane does not have to make stops along the way, the high amounts of fuel spent taking off and landing are saved. However, the savings are offset by the additional food, crew and other features necessary to pull off a longer flight. Nonetheless, airlines can charge a premium for direct flights. The showcase of the new plane comes at a critical time for Boeing…
The negative reaction to the grounding of Dreamliner planes — and the doubt surrounding their quick return to the skies — bruised the company’s image earlier in the year. However, shares of Boeing have risen over 25 percent since February, marking a return to form and a highly encouraging trend for investors. Faced with intense competition from Airbus, Boeing must focus on innovation and bring in revenue necessary to continue manufacturing better planes.
Showing it has a potential long-distance winner up its sleeve is a big move for Boeing. The company had to pay dearly for its problems with the Dreamliner 787 planes. On top of the bad press, Boeing had to compensate several airlines for the time lost when the Dreamliners were grounded. As their planes have been cleared for takeoff once, again, the company hopes to move forward with its latest designs.
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