U.S.-based aviation company Boeing is preparing to produce a new narrow-body, single-aisle aircraft to replace its 737 Max model, sources report.
The project is still in early development and awaits Federal Aviation Administration (FAA) approval.
Boeing CEO Kelly Ortberg has appointed a senior product chief to oversee the development of the 737 Max successor.
Earlier this year, Ortberg met Rolls-Royce CEO Tufan Erginbilic in the UK to discuss potential engine supply for the new aircraft.
The firm says the new model will aim for a minimum 15% improvement in fuel efficiency, featuring a lighter design, new engine architecture, and significant fuselage changes. The project is expected to cost tens of billions of dollars.
Boeing is seeking to regain market share lost to European competitors such as Airbus, following fatal 737 Max crashes in 2018 and 2019 that claimed 346 lives and led to a global grounding of the fleet.
A similar incident involving the 737-800 occurred in South Korea in December 2024, marking the country’s deadliest aviation disaster.
The company has since overhauled senior management and addressed safety protocols. Boeing says it is currently focused on delivering and certifying around 6,000 backlogged aircraft while preparing for the introduction of the new model.
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Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
Kazakhstan has received a fresh vote of confidence in its economy after S&P Global Ratings upgraded the country’s credit rating, citing stronger public finances, solid reserves and steady economic growth.
AnewZ Business Europe, a new weekday programme, takes viewers inside companies driving growth and innovation across the continent, with Brickken CEO Edwin Mata joining the programme for its first episode with host Chief Global Editor Guy Shone. The show airs every Friday.
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