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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Haegin who wrote (1052)	1/18/1998 11:43:00 AM
From: Thomas Haegin	Read Replies (1) \| Respond to of 9980

Repost: * Boeing faces cancellations from Philippine** Airlines ----------------------- via Infoseek, received on 01/16/98: Boeing Co. faces the first major cancellation of airline orders prompted by Asia's financial crisis, as Philippine Airlines has decided it won't take delivery of four 747 jumbo jets valued at $600 million, industry officials said. The move, confirmed by Philippine Airlines executives, coincides with decisions in recent days by other large Asian and Pacific carriers to slash regional operations, delay firm orders for jets and walk away from options for additional aircraft purchases. Taken together, the developments suggest that these Asia-Pacific airlines believe they are confronting a longer-term business downturn, rather than temporary dips in revenue resulting from currency devaluations and market fluctuations. (WSJ)