Qantas Defers Some, Cancels Other 787 Orders

Qantas Airways Ltd. (QAN.AU) said Friday it has cancelled delivery of some Boeing 787 aircraft and deferred orders for others, reflecting a dramatic downturn in the industry since the orders were placed.

The airline said it delayed by four years delivery of 15 Boeing 787-8 aircraft and canceled orders for 15 787-9 aircraft that were scheduled for delivery in 2014-15.

Qantas had flagged in April a reduction in its 787 order as it struggled to cope with a sharp drop in passenger traffic, particularly in its premium classes, which led it to downgrade its profit outlook.

Read Full Article from Wall Street Journal

- Posted: 2009-06-25 22:47:40

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