We derive the leading-order extensional flow equations for the taperin
g or unsteady drawing of a slender fibre of viscous fluid when inertia
and gravity effects are significant. The analysis employs systematic
asymptotic expansions in the slenderness parameter and goes to second
order to find a well-posed problem at leading order. We find the equat
ions of motion for the cross-flow, the extensional velocity, the cross
-sectional area, the translation of the cross-section and its rotation
. Inertia effects are shown to have important implications for the irr
eversibility of fibre motion.