Now, Airbus is preparing to introduce upgraded avionics and other systems that would bring its plane’s features closer to those offered in Boeing’s upgraded 737 Max, which is slated to begin commercial flights in 2017, said Richard Aboulafia, an aerospace analyst with Teal Group, a Fairfax, Virginia-based consultant. “This is something they’ve always done,” Aboulafia said in a phone interview. “Boeing tends to launch all of its big changes in one block. Airbus has more of a rolling update approach.”

The talks give Dubai-based Emirates leverage as it pushes Airbus Group to upgrade its A380 with fuel-efficient engines, said Richard Aboulafia, an aerospace analyst at Teal Group. Boeing would gain momentum for a storied jet with few sales prospects aside from replacing the Air Force One fleet, he said. “It would keep the -8I going through the decade and deliver an unpleasant blow to the A380 that’s long overdue,” Aboulafia said of a potential Emirates order.

The FAA approval nevertheless moves airlines an important step closer to tapping the full potential of the Dreamliner, which burns 15 percent less fuel than the Boeing 767. The approval was of little concern to investors, one Wall Street analyst said. Boeing's stock was up 0.4 percent at $134.70. But the approval appeared to come sooner than expected and its timing was seen by some as a sign of continuing tension between the two agencies, one charged with investigating accidents and the other with ensuring safety. "It certainly does seem like there's some conflict between the NTSB and the FAA," said Richard Aboulafia, an analyst at the Teal Group in Fairfax, Virginia.

Richard Aboulafia, a prominent aviation consultant, said the Dreamliner will be crucial for American as it competes with United and Delta to attract premium passengers on international routes. He suggests that American will fly it to Asia, the Middle East and secondary cities in Europe. "It is absolutely the plane you want to fly point-to-point internationally," he said, "and it's at its best at longer ranges" where the fuel efficiency pays off most.

Airbus is still working out its strategy in the segment that the 767 and 787 occupies. The airframer is officially set on delivering the A350-800, but is also entertaining calls for a re-engined A330. The future of the 767 passenger variant is feasible only if Airbus remains locked on the A350-800 option, says Richard Aboulafia, vice-president of analysis at the Teal Group. “If Airbus doesn’t re-engine the A330, then maybe [the passenger 767 has a future],” he says. An A330neo would occupy shorter routes of 5,000nm (9,270km) or less in the passenger class – closer to the 767-300ER. “Then [the passenger 767] ends,” Aboulafia adds.