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China's CDB Financial cancels purchase of 29 Boeing 737 MAX jets (Reuters)
China's CDB Financial cancels purchase of 29 Boeing 737 MAX jets (Reuters)
Last Modified: 12:32 AM, Mon Apr 20, 2020
20 April 2020
SYDNEY (Reuters) - China Development Bank (CDB) Financial Leasing Co said on Monday it had agreed with Boeing Co to cancel the purchase of 29 undelivered 737 MAX jets, adding to a string of other recent cancellations.
The model has been grounded globally for more than a year following deadly crashes in Indonesia and Ethiopia. CDB Financial Leasing said it retained an order for another 70 of the planes that also have yet to be delivered.
The U.S. planemaker recorded a total of 150 MAX cancellations in March, including 75 from Irish leasing company Avolon. Boeing remains in talks with regulators seeking approval to return the plane to service, but its customers have also seen a sharp fall-off in demand due to the coronavirus pandemic.
CBD Financial Leasing said that all 737 MAX 10 jets still on order will be switched to the smaller 737 MAX 8 model, and 20 deliveries will be deferred to dates in 2024, 2025 and 2026.
Boeing did not respond immediately to a request for comment.
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Creditline: Reuters
Slugline: BOEING-737MAX/CDB LEASING (UPDATE 1, PIX)
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