Qantas cancels $8.5 billion order for Boeing Dreamliner jets after first loss in 17 years
Skift Take
Shares rose for the first time in two months following Qantas’ cost-cutting decision to cancel 35 jets and push back the delivery date on 50 more as the airline focuses on reducing debt.
Troubled Australian airline Qantas announced Wednesday that it has canceled firm orders for 35 Boeing 787-9 Dreamliners.
Those jets are worth $8.5 billion at list prices, though according to market data provided by aircraft-valuation firm Avitas their true value after typical discounts is about $4.6 billion.
The Qantas announcement followed its disclosure of a $256 million loss for the year
