Boeing comments on declining fuel prices, notes continued importance of fuel efficiency

Boeing Commercial Airplanes VP marketing Randy Tinseth, on his 'Randy's Journal' blog, stated (16-Dec-2014) improved fuel efficiency is still an important factor in a declining crude oil price environment. He explained: "An airplane is a 20 year plus investment. We believe efficiency and capability will always drive market demand- regardless of where fuel prices trend to over the long term". He continued: "Case in point, the 787. We closed the business case and launched the airplane when oil was at $40 a barrel. And between 2005-2007, when oil averaged $60 a barrel, we booked more than 3000 commercial airplane orders. As we talk with our customers, we aren't seeing any desire to change fleet plans due to the drop in oil prices. IATA is out with new figures showing that airlines are more profitable-which means they can grow in new areas with a larger fleet. Even in a low price fuel environment, it's hard to argue that 15 to 20 percent better fuel efficiency isn't a good thing. And that's exactly what our products offer". [more - original PR]