Boeing considering first new plane in over a decade

Boeing is said to be looking into the prospect of adding a brand new plane to its repertoire, which would be the first new aircraft produced by the firm in over a decade.

The production of a new plane, which will fill the gap left by the halt in 757 constructions, will aim to target the "middle of the market", with a capacity of 200 passengers, flying up to 5,000 miles.

No commitment has yet been made however, with Boeing keen to judge whether there is enough market demand for such a plane. Chief executive Denis Muilenburg said that the potential may be there but has not given a definitive answer.

Both Boeing and main rivals Airbus are jostling for business at the Farnborough Airshow

“A middle of the market aircraft could be addressed in many ways, it could be a new design or a derivative, such as a 'stretched’ 737,” he said, adding that if the decision to go ahead was made imminently the jet could be in service by 2024.

Both Boeing and main rivals Airbus are jostling for business at the Farnborough Airshow in England this week in an attempt to win contracts, and both have played down the impacts of Brexit on the avaiation industry.

Paul Kahn, president of Airbus UK and head of Britain’s aerospace trade industry ADS, said that “nothing has changed because of Brexit. We have not pulled back from any investment in the run up to Brexit.”

Both companies were buoyed by a speech from soon-to-be former prime minister David Cameron, who advised his successor Theresa May to allow the aerospace industry to continue to flourish.