German carrier Air Berlin has reduced its order for Boeing 787s by 10, and delayed the delivery of remaining aircraft.
The airline had originally placed a firm order for 25 aircraft, which has now been cut to 15, saving $1.7bn.
Air Berlin has also agreed with Boeing to delay the delivery of of its first B787s until 2015. The nine aircraft were originally scheduled for delivery in 2010 and 2011.
Ulf Hüttmeyer, Air Berlin's CFO, said: "With a partnership spirit we have mutually agreed with Boeing to adjust the Air Berlin order book to meet Air Berlin's operational requirements and the market conditions.
"The agreement with Boeing demonstrates that Air Berlin believes in the future of the 787 aircraft. We look forward to the first delivery in November 2015. For Air Berlin, the agreement means a significant reduction of its financial obligations due to lower and much more distributed investment profile."
www.airberlin.com