Boeing resumes developing long-haul jet

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Boeing resumes developing long-haul jet

EVERETT, Wash. (Reuters) =97 Boeing (BA), the world's largest commercial=20
aircraft maker, said Wednesday it will resume development of a long-haul=20
jetliner it mothballed after the Sept. 11 attacks as air travel slumped.=20
The 300-passenger jet =97 the 777-200LR, which stands for "long range" =97=
=20
could fly 10,500 miles, allowing non-stop trips from New York to Singapore;=
=20
Los Angeles to Mumbai, India; and Chicago to Sydney, Boeing said. Pakistan=
=20
International Airlines and EVA Airways of Taiwan have ordered five=20
777-200LR planes, Boeing said. Production should begin in October 2004 and=
=20
the Pakistani airline is slated to receive its first deliveries in January=
=20
2006, it said. Citing slow sales, Boeing shelved development of the plane=20
in October 2001 after engineers completed about 10% of the design.=20
Deliveries of another Boeing long-range model, the 777-300ER, are slated to=
=20
begin in April 2004, Boeing said. "We believe there is a strong market" for=
=20
the planes, said Lars Andersen, program manager for the long-range Boeing=20
777s, in a statement. "As the world economy improves and travel growth=20
returns, we're convinced that we'll see additional sales." Higher aircraft=
=20
sales would help Boeing, which is based in Chicago but runs its jet=20
business from Seattle, weather a prolonged slump in business and consumer=20
air travel. Boeing expects to deliver 280 jetliners this year, down 27%=20
from 371 last year, and the fewest since 1996. It said Tuesday that its=20
commercial jet unit delivered 24 aircraft in February, down 33% from 36=20
aircraft one year ago. Rival Airbus SAS expects to deliver about 300=20
aircraft in 2003, which could make it the industry leader for the first=
 time.


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