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Air Berlin scraps Boeing order

September 26, 2014

Germany's second-largest carrier has said it canceled orders with Boeing with a list price of several billion dollars. Air Berlin noted the move came amid increased endeavors to save costs in the years ahead.

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Air Berlin B737
Image: airberlin

Air Berlin announced Friday it had canceled orders with Boeing from a total of 33 passenger planes with a list price of $5 billion (3.9 billion euros).

The German carrier said it would refrain from buying 18 medium-range 737 jets and 15 Dreamliner aircraft from the US plane maker.

Air Berlin added the cancellation did not include "any obligation of the company to make any compensation payment to Boeing."

Budgetary constraints

The carrier, second only to Lufthansa in Germany, indicated the move was meant to save more money as the company continued its restructuring program.

"We're determined to restructure Air Berlin to ensure the airline moves back to a sustainable profitability within three years," CEO Wolfgang Prock Schauer said while presenting the carrier's second-quarter earnings report.

The Case of Air Berlin - What lies ahead for the German airline?

Air Berlin already booked a bottom-line profit of 8.6 million euros in the period from April to June, compared with a loss of 38 million euros a year earlier.

hg/rs (dpa, AFP)