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British Airways is seeking to renegotiate installment payments to Boeing for the 787 Dreamliners the carrier has ordered, the Wall Street Journal, reported, quoting the carrier's Chief Executive Willie Walsh as saying in an interview.
The carrier, which racked up losses of 100 million pounds for the quarter ended June, is also seeking the delay of cash payments that all airlines make to Boeing and rival Airbus as new planes are being built, the newspaper said.
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British Airways [BAY-LN Loading... ()], which analysts say is the most vulnerable among major European airlines in the ongoing industry downturn in spite of a near-$1 billion fund raising, is fighting to cut costs in all quarters, including a recent move to stop inflight meal service for short-haul economy passengers.
Boeing [BA
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] and Airbus have been grappling with tough times recently, as struggling airlines hold onto cash and defer or cancel many of the planes they already have on order.
As of July 21, Boeing had 106 plane orders on its books for 2009, but also 89 cancellations, leaving a total of only 17 net orders for the year.
Data is a real-time snapshot *Data is delayed at least 15 minutes