Gulf Air has revised its order for the Boeing 787 Dreamliner.
Following negotiations with Boeing, the Bahrain-based carrier has cut its Dreamliner order from 24 aircraft to between 12 and 16, depending on the carrier’s future needs.
Gulf ordered the B787-8 Dreamliners in 2008, in a deal worth almost US$5 billion at list prices. The airline said this week however, that the suspension of several routes has led it to restructure its fleet requirements.
In addition, Gulf has adjusted its outstanding orders with Airbus, converting its existing wide-body order into eight A320neo aircraft, all of which will have be delivered by year-end, plus up to 16 more A320neos scheduled to join the airline’s fleet in the latter part of the decade.
The airline’s CEO, Samer Majali, said the revised deals would help the carrier’s financial situation.
“The revised orders reduce our long-term financial liability of approximately US$5bn by over 50% and the remaining liability more effectively meets Gulf Air’s future fleet replacement and/or growth requirement,” he said.
Boeing said it was pleased to have reached an “amicable solution” with Gulf over the Dreamliner order.