Airlines lining up for Boeing 787 compensation
Airlines lined up on Thursday for compensation after Boeing Co (BA.N: Quote, Profile, Research) announced a further six-month delay for its new 787 Dreamliner plane.
Air New Zealand, Air India and Japan’s two big carriers were among those eyeing redress along with Virgin VA.UL.
The U.S. plane maker announced the third major delay for the revolutionary plane on Wednesday, promising first delivery in the third quarter of 2009, more than a year after the original target of May this year — with an indefinite delay for a short-range model favored by the Japanese carriers.
Air New Zealand (AIR.NZ: Quote, Profile, Research) and Air India AI.UL said they would seek compensation. All Nippon Airways (ANA) (9202.T: Quote, Profile, Research), due to get the first 787 off the assembly line, and Japan Airlines (9205.T: Quote, Profile, Research) said they planned claims after assessing the impact.
Virgin said on Thursday it was in compensation talks with Boeing over an order for 15 of the planes.
Australia’s Qantas (QAN.AX: Quote, Profile, Research), the plane’s second-biggest buyer ordering 65 planes, said it had already put in a claim for redress after previous delays and was due substantial damages.
More than 50 airlines are waiting for 892 Boeing 787s, worth a combined $145 billion at list prices advance america cash advance.
Bahrain’s Gulf Air GULF.UL, which has ordered 16 of the 787s, said it was unaffected by the delay as it is not due to take delivery until 2016.
Filed under: finance by Specialist