Boeing is hard-pressed for Airbus insults as the moment as its European competitor continues to snap up deals with new customers in the aftermath of the Dreamliner grounding.
Boeing Co.’s experience developing the composite-plastic Dreamliner has helped the planemaker attain a five-year advantage over Airbus SAS in twin-aisle jets, Chief Executive Officer Jim McNerney said.
The lighter-weight material will be deployed on the wings of the 777X, an upgrade of Boeing’s biggest twin-engine model, which the company began marketing this year. Chicago-based Boeing is betting that the plane, which will also have more- efficient engines, will cement its lead in the market for wide- body jets typically used on long-haul routes.
Airbus doesn’t “have an airframe that can compete with the 777X,” McNerney said today at an investor conference. “They don’t have the appetite to do a ground-up airplane, and they’d have to do a ground-up airplane.”
Boeing, which is targeting a commercial debut for the 777X near the end of the decade, doesn’t yet have board approval to start production. The largest version of Airbus’s competing A350, the -1000, is scheduled for delivery in 2017.
Boeing climbed 0.2 percent to $98.93 at 9:31 a.m. after a previous gain of 31 percent this year. The stock still trades at a 21 percent discount to Airbus parent European, Aeronautic Defence & Space Co.
Editors: James Langford and John Lear.
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