Boeing outlines plans to improve current 777 jet, evaluates new midsize jet

Boeing (NYSE:BA) is improving its existing 777 jetlinerwith better fuel efficiency and more seats in an attempt to boost sales before a new version arrives early next decade, says Randy Tinseth, the company's VP of marketing.The changes - including a 1,200-lb. weight reduction and minor aerodynamic improvements - aim to raise the existing jet’s efficiency by 5% per passenger, include a 2% reduction in the amount of fuel needed per flight overall, and accommodate 14 extra seats for aircraft delivered beginning in Q3 of next year.The changes appear designed to try to avoid cutting production while waiting for the new model, as Airbus (OTCPK:EADSF, OTCPK:EADSY) has been forced to do with its smaller A330 wide-body jet.Tinseth also says Boeing is evaluating a possible new mid-market product in a niche between its narrow-body 737 and wide-body 787, saying customers had expressed interest in a jet bigger than a 757 and with 20% more range.