Boeing Co. (NYSE: BA) has confirmed that China Eastern Airlines Ltd. (NYSE: CEA) has cancelled its previous order for 24 of Boeing’s 787 Dreamliner aircraft, replacing the order with another for 45 of the maker’s venerable 737s. Air New Zealand placed an order for 2 new 787s.
The 787 has recently been bothered with a de-lamination problem on its carbon fiber skin. Boeing reports that a net 15 orders for the new planes have been placed since the beginning of the year. The company took orders for 45 Dreamliners last year.
All told, Boeing has taken orders for 434 planes since January 1st, of which 406 remain on the books. Of the 28 cancelled orders, 24 were orders for Dreamliners. The 787-8 carries a list price of $193.5 million compared with a list price of $101.7 million for the 737 MAX 9, the most expensive model of the 737 family. The order change from China Eastern Airlines would cost Boeing about $500 million in revenue at these prices.