On 14 July 2014 at the Farnborough Airshow, Airbus launched the A330neo programme, to be powered by the new Rolls-Royce Trent 7000.
It would improve the fuel burn per seat by 14%.
Airbus hoped to sell 1,000 A330neo aircraft.
Its range would increase by 400 nautical miles (740 km) and although 95% of the parts would be common with the A330ceo, maintenance costs would be lower.
New winglets, 3.7 metres wider and similar to those of the A350 XWB, still within ICAO category E airport requirements, along with new engine pylons, would improve aerodynamics by 4%.

Its development costs were expected to have an impact of around −0.7% on Airbus's return on sales target from 2015 to 2017, an estimated $2 billion (£1.18 billion).
Airbus stated that lower capital cost would make the A330neo the most cost-efficient medium-range wide-body aircraft in the market.
Airbus said that it could pursue demand for 4,000 aircraft and that there was an open market for 2,600 jets not already addressed by backlogs with operators already using A330s.
Aerodynamic modifications would include a re-twisted wing and optimised slats.

In 2014, The Airline Monitor's Ed Greenslet stated that the A330neo would have the advantage of not being designed to fly 8,000 nmi, unlike the A350 and Boeing 787 which were thus less economical on shorter routes, although "the vast majority of long-haul markets is 4,000 nmi or less".

He also believed that an "A330neo would enjoy a monopoly in its segment instantly", with the Boeing 767 "essentially out of production", the Boeing 757 not replaced while the A321neo and the 737-9 are smaller and had less range,  and that launching the A330neo would probably kill the smallest A350-800.

John Leahy estimated that the A330-900 would have operating costs on par with the 787-9, but would be available at 25% lower capital costs and could reach a production rate of 10 per month after a 7/8 per month rate at the production start.
Both A330neo variants were expected to have a maximum take-off weight of 242 t. The type design was frozen in late 2015.

Boeing Vice Chairman and Commercial Airplanes CEO Ray Conner dismissed the A330neo as a 2004 revamp which cannot match the 787's direct operating costs, being 20,000 lb (9.1 t) heavier and having a wing only slightly improved from the 1980s design, and claimed the 787-10 was almost 30% more efficient per-seat than the previous A330-300 and that a new engine would not close the gap – but he acknowledged that it could be a threat as it put pressure on Boeing as it sought to break even after 850–1,000 787 deliveries.
On 14 July 2014 at the Farnborough Airshow, Airbus launched the A330neo programme, to be powered by the new Rolls-Royce Trent 7000. It would improve the fuel burn per seat by 14%. Airbus hoped to sell 1,000 A330neo aircraft. Its range would increase by 400 nautical miles (740 km) and although 95% of the parts would be common with the A330ceo, maintenance costs would be lower. New winglets, 3.7 metres wider and similar to those of the A350 XWB, still within ICAO category E airport requirements, along with new engine pylons, would improve aerodynamics by 4%.
Its development costs were expected to have an impact of around −0.7% on Airbus's return on sales target from 2015 to 2017, an estimated $2 billion (£1.18 billion). Airbus stated that lower capital cost would make the A330neo the most cost-efficient medium-range wide-body aircraft in the market. Airbus said that it could pursue demand for 4,000 aircraft and that there was an open market for 2,600 jets not already addressed by backlogs with operators already using A330s. Aerodynamic modifications would include a re-twisted wing and optimised slats.
In 2014, The Airline Monitor's Ed Greenslet stated that the A330neo would have the advantage of not being designed to fly 8,000 nmi, unlike the A350 and Boeing 787 which were thus less economical on shorter routes, although "the vast majority of long-haul markets is 4,000 nmi or less". 
He also believed that an "A330neo would enjoy a monopoly in its segment instantly", with the Boeing 767 "essentially out of production", the Boeing 757 not replaced while the A321neo and the 737-9 are smaller and had less range,  and that launching the A330neo would probably kill the smallest A350-800.
John Leahy estimated that the A330-900 would have operating costs on par with the 787-9, but would be available at 25% lower capital costs and could reach a production rate of 10 per month after a 7/8 per month rate at the production start. Both A330neo variants were expected to have a maximum take-off weight of 242 t. The type design was frozen in late 2015.
Boeing Vice Chairman and Commercial Airplanes CEO Ray Conner dismissed the A330neo as a 2004 revamp which cannot match the 787's direct operating costs, being 20,000 lb (9.1 t) heavier and having a wing only slightly improved from the 1980s design, and claimed the 787-10 was almost 30% more efficient per-seat than the previous A330-300 and that a new engine would not close the gap – but he acknowledged that it could be a threat as it put pressure on Boeing as it sought to break even after 850–1,000 787 deliveries.
Airbus A330neo