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Executive says higher oil prices may drive orders

Wednesday, Sept. 29, 2004 | 9:14 a.m.

Boeing Co., the world's second-biggest maker of commercial aircraft, may win more orders for fuel-efficient planes from airlines seeking to offset record oil prices, said Chief Executive Harry Stonecipher.

"If people really believe that oil prices are going to stay at $50 a barrel and above, it bodes very well for aircraft orders because you have to get more efficient," Stonecipher said in a meeting with reporters in Dubai, United Arab Emirates.

"The best way to get more efficient is to buy more airplanes," Stonecipher said.

Chicago-based Boeing is competing with Airbus SAS to be the world's largest maker of passenger planes after the Toulouse, France-based company last year overtook its U.S. rival in plane deliveries for the first time. Boeing will deliver between 315 and 320 planes in 2005, Stonecipher said.

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