TU114 = 171 000 kg (Standard) 30 000 kg Payload Range 4650 NM Fuel Burn = 15 200 kg / hr Vs 707-320C = 151 500 kg (Standard) 34 000 kg 4410 NM Fuel Burn =11 910 kg / hr
Probably not worth the effort unless you pick the right config and have no competition fuel burn is far more than the 707 and its a slowe aircraft although can carry a 'few' extra pax, but not enough I think to be viable in this game
I have a big fleet of Tu114. Yes--the 707 is a better aircraft, but only marginally. You can buy 3 Tu114 for the price of 1 707 and the fuel burn issue is a non-issue since fuel is basically free. The only downside is higher maintenance and staff costs, but this ends up being a wash since the lease price is 1/3 of what a 707 would be. The production lists are the main reason for getting the Tu114 over B707. The Tu114 flies at mach 0.71 versus mach 0.80 for a 707, so the speed issue isn't really an issue either considering you can do a 60 minute @ ~1% delay turnaround with the Tu114 versus 90 minutes with the 707. In the end, this means if you are flying a route <3800nm that the Tu114 can fly it round trip in a shorter time, but any flights >3800nm you'll get home quicker on a 707.
I have 11 Tu114 in service with another 67 on order. For 11 aircraft my commonality costs are ~100k/plane per month (includes engine commonality costs). All of my Tu114 make between 150k and 200k gross profit per week flying international longhaul. This compares to 50k to 100k for my DC7C flying 1500 to 3000nm routes (with only half the seats of the Tu114). For the same price of 11 Tu114, I could have 4 B707 making me what, 175k to 225k profit on a good day? In the end, there is nothing wrong with flying the Tu114 because it is competitive at this point in history/the game.