Air Berlin Slashes Boeing 787 Order

 - March 16, 2010, 6:37 AM

Germany’s Air Berlin has cut the number of airplanes in its firm order for Boeing 787 Dreamliners from 25 to 15, and the number of options from 10 to five, the company said today in a statement. The adjustment reduces the value of the order, based on current list prices, by $1.7 billion.

Air Berlin also said that it has reached an agreement with Boeing to reschedule delivery of nine 737s from 2010 and 2011 to 2015.

“We have mutually agreed with Boeing to adjust the Air Berlin order book to meet Air Berlin’s operational requirements and the market conditions,” said Air Berlin CFO Ulf Hüttmeyer. “For Air Berlin, the agreement means a significant reduction of its financial obligations due to lower and much more distributed investment profile.”