Qantas cancels $8.5B worth of Boeing 787 orders
Published: August 22, 2012
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Australian airline Qantas is canceling an order for 35 of Boeing's new 787 jets as it tries to cut costs.
The jets would have been worth $8.5 billion at list prices, although discounts are common on large orders.
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The financially struggling airline is still buying 15 787-8s. It is also keeping options that allow it to buy as many as 50 of Boeing's longer 787-9. But it's cancelling orders for 35 of those jets.
Qantas CEO Alan Joyce says the change is part of trying to make Qantas profitable.
Boeing Co. says Qantas has been a long-standing customer and it will work with the airline to help it adapt.
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