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Martin EGTK..
I have to disagree to your comment about the B7E7 ever making it to the skies.
As I have stated previously some time ago, forecasts of the traffic made by both Airbus and by Boeing revealed that there will be a demand for a 240 seater aircraft, (i.e. A300Family or B767-200 and 300). All these models are old and gradually phasing out of production. So, Boeing if they manage to develop the B7E7, and comes to the standards they are promising, then they may get the niche in the market.
On the other hand, Airbus is currently busy and “blind” with the A380, and has no plans for the moment to begin replacing the A300 family, as a result it may give them an advantage to Boeing.
As far as Boeing 747 newer versions, it is interesting to see whether the potential of developing newer versions of the aircraft are been reduced. Some believe that a Boeing 747 is a Boeing 747 and fewer investment will be required to develop a new derivative of the aircraft.
However, consider the A340-200/300 and the A340-500/600. They are all A340, however the design and aerodynamics of the A340-500/600 is so much different than the other A340’s and a deal time of effort and investment was made to develop the newer A340’s. I believe the same problem will be faced by Boeing in an attempt to develop further the B747-400…(unless of course they have reasons to believe that the market will not sustain a 555 seater but a relatively lower density i.e. 522 seater, which really considering the economics, the additioal 33 seats will be an extra revenue potential for the airline and NOT an additional cost.