BOC Aviation Cancels Orders for 30 Boeing 737 MAX Jets
June 30 2020 - 9:44PM
Dow Jones News
By Ben Otto
Chinese-owned aircraft lessor BOC Aviation Ltd. has canceled
orders for 30 Boeing Co. 737 MAX jets and deferred delivery of
others, potentially adding to the U.S. plane maker's growing
financial strain.
Hong Kong-listed BOC Aviation said late Tuesday that it signed
an agreement with Chicago-based Boeing for the cancellations and an
unspecified number of deferments.
BOC Aviation in March had agreed with Boeing to reschedule its
87 outstanding MAX orders, and its next planned delivery was pushed
back until the final quarter of 2020.
The MAX jet has been grounded since March 2019 following the
second of two fatal crashes. Boeing halted production of the
passenger jet in January. Its inability to deliver new MAX jets has
pressured liquidity and forced the company to take on additional
debt.
The news from BOC Aviation comes on the heels of Norwegian Air
Shuttle ASA's announcement Monday that the European discount
carrier was cancelling its orders for 92 MAX jets.
Write to Ben Otto at ben.otto@wsj.com
(END) Dow Jones Newswires
June 30, 2020 21:29 ET (01:29 GMT)
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