Lufthansa Switches Boeing 777 Orders to Options in Fleet Rethink
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Deutsche Lufthansa AG is stepping back from a commitment to buy 14 Boeing Co. 777X wide-body jets valued at $6.2 billion as it slows fleet growth in an effort to cut capital spending and rein in capacity.
Announced as a regular order six years ago as part of a 34-jet deal, the aircraft have been re-designated as “options,” Lufthansa said Thursday in a quarterly earnings report. The change is normally in the other direction, with options upgraded to firm purchases. The airline said the deal had always been “reconfirmable” and that the move doesn’t amount to a cancellation.