China's CDB Financial scraps purchase of 29 Boeing 737 MAX jets [Reuters]
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Source: Reuters
China's CDB Financial scraps purchase of 29 Boeing 737 MAX jets SYDNEY (Reuters) - China Development Bank (CDB) Financial Leasing Co ( 1606.HK ) said on Monday it had agreed with Boeing Co ( BA.N ) to cancel the purchase of 29 undelivered 737 MAX jets, adding to a string of recent cancellations of the grounded airplane. The model has been grounded globally for more than a year following deadly crashes in Indonesia and Ethiopia. “In light of evolving aviation market dynamics, we’ve been working together with Boeing over many months to re-calibrate our MAX orderbook to be in line with our long-term view of the market and related opportunities,” Xuedong Wang, chairman of CDB Financial unit CDB Aviation, said in a statement. The lessor said it retained an order for another 70 of the planes that also have yet to be delivered. Boeing recorded a total of 150 MAX cancellations in March, including 75 from Irish leasing company Avolon. Boeing remains in talks with regulators seeking approva
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