More Bad News For Boeing: Qantas Cancels Orders for 15 Dreamliners
I'm sure everyone else has written it, but The Ticker hasn't yet, so let's go ahead and pile on: Boeing's hope for the future, its 787 Dreamliner, has turned into a Nightmareliner.
Thank you, thank you! We'll be here all week.
Australian airline Qantas today canceled orders for 15 of the 787 Dreamliners it had committed to buy. It also has delayed orders for 15 more.
The airline said the cancellation is not related to Boeing's news earlier this week that it is delaying the Dreamliner's test flight yet again, this time to fix a structural problem, which tanked the aerospace giant's stock.
But it hardly matters to battered Boeing why Qantas canceled. Each Dreamliner carries a price tag of $140 million to $200 million.
Boeing stock today is trading down about 1 percent. The stock dived 7 percent following the delay announcement earlier this week and is down 12 percent over the past five trading days.
(Qantas's corporate symbol is a koala. Click here to see totally unrelated picture of very cute sleeping baby albino koala.)
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