Air Berlin to cut $1.7B in Boeing orders

Tuesday, March 16, 2010

German airline Air Berlin Plc says it will cut back its order of Boeing Co. 787 aircraft to 15 from 25 and reduce its option for additional 787 aircraft to five aircraft from 10.

The cancellation of the 10 aircraft is valued at around $1.7 billion, Air Berlin said Tuesday.

Air Berlin, Germany's second largest airline after Deutsche Lufthansa AG, said the decision is part of an effort to adapt to market conditions and to meet its specific operative requirements.

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