Qantas has scrapped a US$8.5bn order for 35 Boeing aircraft because of “lower growth requirements” as the Australian airline confirmed its first full-year net loss since privatisation.
The shares of both Boeing and EADS, the parent of Airbus, fell more than 2 per cent as investors fretted about the possibility that the cancellation could presage a wider trend.
Qantas said yesterday it had cancelled “firm commitments” for Boeing’s flagship 787-9 Dreamliners as the Australian flag carrier focused on strengthening its balance sheet against an uncertain outlook for the global economy.
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