APN News

  • Tuesday, December, 2021| Today's Market | Current Time: 10:48:37
  • Boeing Loses Jet Order Worth 5.82 Billion U.S. Dollars

    Published on August 7, 2010

    Chicago-based Boeing Co. lost orders for 26 jets valued at 5.82 billion U.S. dollars in the past week, according to latest figures released on the company’s website.

    The company’s weekly update of its website showed that Boeing lost orders for 15 787 Dreamliners, 10 777s and one 737.

    Orders from the financially troubled Dubai Aerospace Enterprise for 787s were all canceled from the original order for 15. DAE also reduced orders for 777s to eight from 10.

    Boeing has declined to comment on the development.

    In July it was reported that DAE was in negotiation on Boeing, Airbus orders and had stopped taking deliveries of new aircraft or making payments to Boeing or Airbus.

    Boeing gained two orders for its best-selling 737, but the cancellations are a big hit to the company. The aerospace giant has lost four more Dreamliner orders than it has won this year. The delivery of its first 787 by yearend may also be pushed into 2011 because of longer-than-expected testing and the discovery of more defects.

    The cancellations, however, may free up delivery slots for other customers. Last week, Boeing Chief Executive said the company had cut back on the number of order overbooking.

    Despite delays in Boeing’s delivery of the 787, analysts still like the aerospace giant over the long haul. The company currently has a commercial backlog equal to about seven times its current run rate and is still reaping the benefits of previous orders.