January 15, 2009

Boeing Hit by China Eastern Slowdown

Troubled Chinese airliner China Eastern will defer orders for 15 planes from Airbus and Boeing. The airline already has 20 planes grounded and is divesting itself of subsidiaries in its attempt to stay solvent... Just one year ago, China Eastern agreed to buy 30 Boeing 737s for delivery beginning 2011. How far into the future the deliveries will be defered is unknown. The impact on Boeing jobs will be immediate. Outright cancellation of the planes is possible, particulary if China Eastern liquidates.

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