New Version Of 777 Likely
Boeing will begin development of two new long-range versions of its popular twin-engine 777 models, industry sources confirmed Monday.
Officials from Boeing and General Electric, which builds the GE-90 engine for existing 777-200 and -300 aircraft, were expected to announce development and production of the 777-200X and -300X at news conference today in New York.
Officials at Seattle-based Boeing and Fairfield, Conn.-based GE declined comment Monday.
It will cost Boeing at least $1 billion to develop the long-range models, but it needs them to battle Airbus Industrie in the Asia-Pacific market, the Seattle Post-Intelligencer reported Monday.