Step 1 :Let's find the fuel consumption rate per kilometer: \(\frac{140 \mathrm{~L}}{680 \mathrm{~km}} = 0.20588235294117646 \mathrm{~L/km}\)
Step 2 :Now, let's find the distance the airplane can fly on 240 L of fuel: \(0.20588235294117646 \mathrm{~L/km} \times 240 \mathrm{~L} = 1165.7142857142858 \mathrm{~km}\)
Step 3 :\(\boxed{1165.71 \mathrm{~km}}\)