By Janet Williams BBC Seattle correspondent

With a push of a button, the aircraft production line at Boeing's massive Everett plant whirs into action, drilling and installing the first of five thousand fasteners into the wing of the company's latest wide-bodied aircraft, the 777-300ER.

It marked the beginning of the plane's final assembly.

In Boeing's eyes, it is also a sign of confidence in an airline industry hard hit by the attacks on the US last year.

Pushing the button to start the production line

The 777-300ER is the fourth in Boeing's "triple-seven" series, flying 360 passengers up to 13,000 kilometres, or 14 hours in the air.

Boeing says raked wingtips and extended wings mean improved fuel consumption, while the conversion of the space between the top of the passenger compartment and the outer hull of the aircraft into a rest area for the crew has freed space below for more passenger seating.

And the company is immensely proud of it. Addressing a gathering of Boeing employees and customers called together to celebrate the occasion, Ray Conner, vice president of the 777 programme, said the new aircraft has a bright future.

"It's obvious to us that we have the most competitive airplane in this market segment," he said.

"And when you look at the customer base on the triple-seven, it's obvious that they think that too."

Fallout

The Boeing Company has its headquarters in Chicago, but the Commercial Airplanes Group remains in Seattle and has suffered the most from the fallout from 9/11.

As air travel slumped, the company announced it would lay off up to 60,000 local workers, and the morale of the workforce slumped.

But this ceremony, held at the Everett plant to mark the beginning of the 300ER final assembly, was a fillip.

"I'm proud of it," said one production-line worker. "And I'm proud that I get to be a part of it."

New orders?

Still, Boeing is building for the future, not necessarily for current demand.

Despite firm orders from six companies including Air France, All Nippon Airways and Japan Airlines for a total of 49 of the new 777s, no new orders have come in since November 2000.

5,000 fastenings to go to finish this wing...

And after 9/11, the production schedule was put back six months at the request of existing customers, whose finances were hit hard by the disaster.

Ray Conner, however, remains unperturbed.

"We're in a dip right now, but I think for the 777 the future is very bright," he says.

Asian airlines offer a big market, he insists, to satisfy a desire for more direct flights and less reliance on rushed transfers at hubs such as Tokyo.

Competition

Boeing is by no means alone in this market. Its European competitor, Airbus, has its own new long-distance airliners, and its A340-600 is competing directly with Boeing's 777-300ER.

Not only that, but it's already planning its first delivery - to Virgin Atlantic - next month.

Ray Conner, treating the 777 launch as a revival meeting

Boeing's Ray Conner acknowledges that the company is behind in the race, but enumerates a list of advantages the 777 offers over the A340-600 - particularly a 15-18% lower "seat-mile cost", the amount it costs to carry each passenger.

But while the 777-300ER is now roaring ahead, the fifth and final 777 derivative, the 200LR, is whimpering in the background.

Its production schedule has been pushed back eighteen months, and only one company has placed an order... for three planes.

An indication, perhaps, that aircraft manufacturers might not yet be out of the quagmire.