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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (299)	5/11/1998 10:17:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

U.S., European agencies approve Boeing 777-300 SEATTLE, May 4 (Reuters) - U.S. and European authorities have approved Boeing Co.'s new 777-300 jetliner for commercial service, clearing the way for initial delivery of the aircraft this month, the manufacturer said Monday. The U.S. Federal Aviation Administration also gave approval for the twin-engine aircraft to fly on long routes over water or sparsely populated land masses, and Europe's Joint Aviation Authorities was expected to give similar certification this month, Seattle-based Boeing said. The FAA's move marks the first time the agency has simultaneously approved a new model and approved so-called extended-range, twin-engine operations, or ETOPS. The original 777-200 received FAA approval for ETOPS in June 1995, before its first commercial flight, although the European agency initially gave permission for it to fly only 120 minutes from the nearest airport, rather than 180 minutes as Boeing had requested. The 180-minute certification allows airlines to save time and money by flying more direct routes, frequently across long, open stretches of water. The 777-300 is Boeing's longest model, more than 10 feet (3 meters) longer than the jumbo 747-400. The new model seats up to 479 in a typical two-class configuration, compared with 400 for the original 777-200. The regulatory approval announced Monday applies to the 777 powered by Rolls-Royce Plc engines for initial delivery to launch customer Cathay Pacific Airways <0293.HK> this month. The agencies still need to approve the 777-300 powered by engines made by General Electric Co. and Pratt & Whitney, a unit of United Technologies Corp. ((-- Seattle bureau 206-386-4848, marty.wolk@reuters.com))