LE BOURGET, France (AP) — The Latest on the Paris Air Show (all times local):

11:25 a.m.

Airbus will start making a new single-aisle long-range jet, beating rival Boeing to the market in this category.

The European plane maker launched the A321XLR jet Monday at the Paris Air Show, saying it will be ready for customers in 2023 and will fly up to 4,700 miles (7,560 kilometers).

Chief salesman Christian Scherer would not say how much the plane would cost to develop, but said it would be significantly less than building a whole new plane because it is an upgraded version of the existing A321.

It was the biggest new plane announcement expected at the Paris Air Show gathering of aviation industry powerhouses.

Boeing is considering whether to build a new jet — the concept is dubbed New Midsize Airplane, or NMA — that would be close in size to the A321XLR. It would fill a gap in the Boeing lineup between the smaller 737 and the larger 777 and 787.

Right after the launch, Los Angeles-based Air Lease Corporation signed a letter of intent to buy 27 of the new Airbus planes.

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9:55 a.m.

A Boeing executive is apologizing to airlines and families of victims of 737 Max crashes in Indonesia and Ethiopia. 

Kevin McAllister, CEO of Boeing's commercial aircraft, told reporters at the Paris Air Show on Monday that "we are very sorry for the loss of lives" in the Lion Air crash in October and Ethiopian Airlines crash in March. A total of 346 people were killed.

McAllister also said "I'm sorry for the disruption" to airlines from the subsequent grounding of all Max planes worldwide, and to their passengers. He stressed that the company is working hard to learn from what went wrong but wouldn't say when the plane could fly again.

Other Boeing executives also stressed the company's focus on safety and condolences to victims' families.

Angle-measuring sensors in both planes malfunctioned, alerting anti-stall software to push the noses of the planes down. The pilots were unable to take back control of the planes.  Investigations are underway.

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9:45 a.m.

The world's aviation elite are gathering at the Paris Air Show with safety concerns on many minds after two crashes of the popular Boeing 737 Max.

The global economic slowdown and trade tensions between the U.S. and other powers are also weighing on the event that opened Monday at Le Bourget airfield.

Boeing's CEO said the company is heading into this week's show with "humility" after the crashes in Indonesia and Ethiopia and Boeing's botched communication over a cockpit warning system in the Max.

Rival Airbus is expecting some big orders despite a slow sales year so far, and is likely to unveil its long-range A320 XLR at the Paris show.

The event also is showcasing electric planes, pilotless air taxis and other cutting-edge technology.

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The item timed at 9:55 a.m. has been corrected to give the name of the official who spoke as Kevin McAllister, not Randy Tinseth.