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Air Berlin cancels all Boeing 787 orders - European-Aviation.net

Air Berlin cancels all Boeing 787 orders

Air Berlin Boeing 787
Air Berlin Boeing 787 (© Boeing)

Air Berlin 5. LeaseLux S.à r.l. has agreed with The Boeing Company that the orders relating to the 18 737NG and 15 787 aircraft not yet delivered shall be cancelled. The cancellation agreement does not provide for any obligation of the Air Berlin group to make any compensation payments to Boeing.

The cancellation of the acquisition of the ordered aircraft, which currently have a list price of approximately USD 5 billion, will significantly reduce the future capital expenditure. The delivery would have resulted in a capital expenditure at Air Berlin group in the amount of the reduced purchase price that was actually agreed. However, the Air Berlin group will adapt the existing fleet to its needs by the acquisition or leasing of suitable aircraft, although at a lower number of aircraft than initially envisaged.

Ulf Hüttmeyer, Chief Financial Officer at airberlin, said: „Not taking on the 33 aircraft ordered will significantly reduce future capital expenditure for airberlin and improve our balance sheet“.

„Our collaboration with Boeing has always been excellent, and this will remain so. 45 Boeing 737 NG aircraft will remain in service on European short and medium-haul routes. In order to operate more flexibly in the future and further reduce costs, standardisation of our fleet is a key element of our restructuring“, Ulf Hüttmeyer continues.

The transition to a uniform narrow-body fleet should be completed by the end of 2016.

airberlin group will continue to dynamically adapt the existing fleet to its needs by purchasing or leasing suitable aircraft, although this will be on a smaller scale than originally planned.

Air Berlin