BA’s Walsh seeks delay in Boeing order payments: report

1190
British Airways is seeking to renegotiate instalment payments to Boeing for the 787 Dream liners 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 (R1292 million)  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.
British Airways, which analysts say is the most vulnerable among major European airlines in the ongoing industry downturn in spite of a near-$1 billion (R12 billion) fund raising, is fighting to cut costs in all quarters, including a recent move to stop in-flight meal service for short-haul economy passengers.
Boeing 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.