Boeing 'shelves' 747X superjumbo plans

Boeing has reportedly shelved designs for its giant 747X and will instead focus on developing smaller jetliners to travel at nearly the speed of sound.

The move would leapfrog Boeing over its European rival Airbus Industrie in commercial aircraft technology. Airbus has been concentrating on its new superjumbo A380, which competes with Boeing's 747 jumbo jets.

Alan Mulally, president and chief executive officer of Boeing Commercial Airplanes, has scheduled a news conference to make what the company described as a major announcement.

The 747X was designed to compete head-on with Airbus's 555-passenger A380 and was to carry more than 525 passengers.

Boeing has been pitching the 747X for two years but has yet to announce an order, while Airbus has announced 66 orders for its new plane.

Citing "knowledgeable" sources, the P-I said the new project will consist of a family of planes carrying 100 to 300 passengers at speeds of Mach .95 to Mach .98 above 45,000ft.

Most jets fly below 40,000ft at speeds of Mach .80 to Mach .86. The speed of sound is Mach 1, about 750 mph at sea level or 660 mph at 30,000ft above sea level.

The new plane also would be able to fly farther than any other commercial aircraft. The longest-range models by Boeing now are capable of about 10,000 miles.