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Bloomberg
China Development Bank Financial Leasing Co cancelled an order for 29 Boeing Co 737 Max planes, worth at least $2.9 billion based on list prices, joining a growing list of customers scaling back plans for buying the grounded jet.
The move cuts the company’s outstanding Max order to 70, it said in a statement to the Hong Kong stock exchange. The 737 Max 10s still on order will be converted to smaller Max 8 aircraft, while the delivery of 20 jets will be deferred to between 2024 and 2026, the company said.
Boeing is working with regulators to clear a flying ban on the Max, which has been grounded worldwide since March 2019 following two fatal crashes.
The coronavirus pandemic is adding to Boeing’s woes as it crushes travel and demand for planes. CEO Dave Calhoun has said the company will face a “new reality†in a market that could take years to recover.