Boeing Co (NYSE:BA) is reportedly planning a new single-aisle aircraft to eventually replace the 737 MAX, aiming to recover market share lost to Airbus (EU:AIR), according to the Wall Street Journal on Monday, citing sources familiar with the matter.
The report states that CEO Kelly Ortberg met earlier this year with Rolls-Royce Holdings PLC (LSE:RR.) in the U.K. to discuss a potential engine for the next-generation jet.
Boeing has also started conceptual work on a flight deck for the prospective narrow-body aircraft and has appointed a senior product executive with prior experience in aircraft development, the Journal said.
The program is still in its early phases, and Ortberg has not shared public details. He has repeatedly emphasized that Boeing’s short-term priorities are addressing quality issues, fulfilling its roughly 6,000-plane backlog, and bolstering its balance sheet.
Any entirely new “clean-sheet” design would likely take more than a decade to bring to market and could require tens of billions of dollars in investment. Rolls-Royce has proposed an engine that could improve fuel efficiency by up to 20%, according to the report.
Boeing has faced multiple challenges in recent years, including two deadly 737 MAX crashes in 2019 that grounded the fleet and delayed planned variants. The company also scrapped a proposed midsize jet and remains years behind schedule on its 777 upgrade.
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