Air India Won't Take Dreamliner Delivery Before Delay Compensation Agreed - Minister

Date : 05/29/2012 @ 4:37AM
Source : Dow Jones News
Stock : Boeing Company (The) (BA)
Quote : 255.46  0.0 (0.00%) @ 7:51AM

Air India Won't Take Dreamliner Delivery Before Delay Compensation Agreed - Minister

Boeing (NYSE:BA)
Historical Stock Chart

5 Years : From Sep 2012 to Sep 2017

Click Here for more Boeing Charts.

Air India Ltd. won't take the delivery of Boeing Co.'s (BA) 787 Dreamliner planes until both parties agree on a compensation figure for a delay in delivering the planes by the U.S. manufacturer, India's civil aviation minister said Tuesday.

"We have to decide on a compensation mechanism before taking delivery of the Dreamliner," Ajit Singh told reporters.

Singh said Air India "has worked out a compensation package and is seeking a legal opinion on several steps on how to take it forward."

He declined to disclose the compensation that Air India plans to seek from Boeing, but said a panel of ministers will consider the compensation that Boeing will need to pay to Air India.

"We have to discuss options like arbitration and where to take this arbitration in case Boeing refuses to pay this compensation," Singh said.

Air India, which ordered 27 Dreamliner jets, is expected to get the first aircraft toward the end of this month, about three years behind the original schedule.

-By Nikhil Gulati, Dow Jones Newswires; +91-11-4356-3305; santanu.choudhury@dowjones.com

Latest BA Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.