Boeing dismisses rival’s aircraft upgrade

PARIS (BestGrowthStock) – Boeing (BA.N: ) dismissed a decision by European rival Airbus (EAD.PA: ) to upgrade its A320 single-aisle passenger jet on Wednesday, saying the move was driven by a need to catch up with Boeing’s 737 airliner.

It said it was still studying whether to follow Airbus in upgrading with new engines or going for an all-new plane, which analysts say would take several years longer, but was meanwhile improving performance.

“We continue to make continuous improvements to the Next-Generation 737,” a spokesman said in an emailed response.

The Next-Generation 737 or 737NG is a version of the narrowbody airliner introduced in 1998.

“The 737NG is significantly more fuel efficient than the A320,” the spokesman said. Airbus executives argue their plane is more efficient when comparable models are contrasted.

Boeing plans a 2 percent improvement in 737 fuel burn beginning in mid-2011 through early 2012, on top of 5 percent already delivered by the 737NG, the spokesman said.

“In addition to our continuous improvement efforts, we maintain the ability to select two other options based upon what our customers want: wew engine option (or) all-new airplane option,” he added.

Boeing dismisses rival’s aircraft upgrade