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posted: 8/22/2012 8:02 PM

Qantas cancels $8.5B worth of Boeing 787 orders

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  • Richard de Crespigny, the pilot responsible for safely landing the Qantas Airbus A380 plane on Nov. 4, 2010, waves from the cockpit window of the same plane April 21, 2012 in Singapore during a media preview. Qantas cancelled an order for 35 of Boeing's new 787 jets Wednesday.

      Richard de Crespigny, the pilot responsible for safely landing the Qantas Airbus A380 plane on Nov. 4, 2010, waves from the cockpit window of the same plane April 21, 2012 in Singapore during a media preview. Qantas cancelled an order for 35 of Boeing's new 787 jets Wednesday.
    ASSOCIATED PRESS

 
Associated Press

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.

Chicago-based 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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