"Appropriate in the current climate" - Joyce
Qantas has cut the number of Boeing 787s it has on order from 65 to 50 aircraft, and has deferred the delivery of further 15 Dreamliners by four years.
The Australian national carrier has cancelled an order for 15 B787-9 aircraft due for delivery in 2014/2015.
It will now see delivery of its first Dreamliner aircraft from mid-2013 for its subsidiary Jetstar's international operations.
Alan Joyce, Qantas' ceo, Joyce said the changes to the Group's B787 orders were "appropriate in the current climate."
He said discussions with Boeing had not been influenced by its announcement of a design issue and further delay to the aircraft's first flight.
"Qantas announced its original B787 order in December 2005, and the operating environment for the world's airlines has clearly changed dramatically since then," said Mr Joyce.
"The agreement we have reached with Boeing will provide greater certainty going forward in terms of our fleet renewal and growth strategies as well as broader resource planning and matching capacity with demand.
"It will also allow Qantas to manage capital investment more effectively while still delivering an aircraft that offers sound prospects for our flying businesses and our customers.
"For both Qantas and Jetstar, the B787 will provide for international capacity growth and new routes, including point-to-point destinations, and mean lower operating and maintenance costs, greater fuel efficiency and improved environmental performance.
"The latest delay is disappointing, but we do not expect it to impact the Qantas Group given these changes to our delivery program. We remain committed to the aircraft as the right choice - for Jetstar's future international expansion, Qantas' growth and as a replacement for Qantas' B767-300 fleet."
Qantas added that despite the cuts the group will jointly remain the biggest airline customer for B787 family aircraft.
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