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Avianca seeks to cut back on $10B Airbus order

Published 12/10/2018, 12:01 PM
© Reuters.  Avianca seeks to cut back on $10B Airbus order
  • Airline Avianca (AVH -9%) is beginning negotiations with Airbus (OTCPK:EADSY -1.2%) to reduce the 100 planes it had agreed to purchase in a 2015 deal by as much as half.
  • "Of those 100, we'll probably receive between 50 and 80 planes," CEO Hernan Rincon declared. "We don't have any doubt that we will keep growing, what has changed is the rhythm of the growth."
  • A reduction in the original order, which was set to cost $10B, will also give Avianca some financial breathing room.
  • Now read: Boeing (NYSE:BA) Orders Remain Far Ahead Of Airbus


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