Seattle ? Boeing says any new plane that replaces its hot-selling 737 could be 20 percent more fuel efficient.

Boeing is trying to decide whether to put a new engine on the 737, or make an all-new plane that would be sold around the end of this decade. Jim Albaugh, who runs Boeing Co.’s commercial airplane business, told analysts on Tuesday that the technology should be available to improve fuel efficiency by 20 percent.

That would be better than the 15 percent promised by Boeing competitor Airbus for the new-engine version of its A320. That plane is expected in 2016.

Boeing CEO Jim McNerney said the company is leaning toward making a new plane, but it will maintain the option to go with a new engine.