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Emirates' Airbus A350 Order Cancellation Could Give Boeing Boost

Date:
June 11, 2014
Source:
TheStreet / Powered by NewsLook.com
Summary:
Emirates Airline has cancelled a $16 billion order for 70 Airbus new A350 passenger jets. It is Airbus's largest order cancellation in history, with a current combined value of $21.6 billion at current prices. It amounts to 9% of Airbus' A350 order backlog. An Emirates spokesman said the contract the airline signed with Airbus in 2007 has lapsed and Emirates is reviewing its fleet requirements. Sterne Agee analyst Peter Arment believes the decision is a boost to the Boeing 777, as he says the current generation 777 aircraft is flying Emirates key routes and will likely see further expansion at the end of the decade with the 777X. Video provided by TheStreet
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