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Delta to trim Boeing 777 jet deliveries=20
=09
=09
Reuters <http://money.excite.com/img/logo_reuters.gif> =09
Tuesday February 10, 6:36 PM EST=20
(Adds details)
SEATTLE, Feb 10 (Reuters) - Delta Air Lines (DAL
<http://money.excite.com/jsp/qt/full.jsp?time=3D0&symbol_search_text=3DDA=
L>
), the No. 3 U.S. airline, said on Tuesday that it would defer or sell
up to five Boeing Co. (BA
<http://money.excite.com/jsp/qt/full.jsp?time=3D0&symbol_search_text=3DBA=
> )
777-200 wide-body jets on order through 2006 in order to cut capital
spending by about $300 million.
The Atlanta-based carrier said it plans to push back two 777s due in the
first half of 2005 to the second half and then sell them. Another three
777s due in 2006 would either be sold or converted into orders for other
Boeing jets, the airline said.
Delta said the deferral and sale of the 2005 aircraft, would save it
about $300 million, noting that it hired an undisclosed entity to help
it with the sale.
The airline said it was "pleased" with the performance of its current
fleet of eight 777-200s, which can seat up to 400 passengers.
=20
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Delta ordered 13 777s in 1997 and 1998 but, like many airlines, it began
parking aircraft and deferring new deliveries after the Sept. 11, 2001
U.S. hijack attacks slashed air travel demand.
Delta officials surprised some Wall Street analysts last month by
announcing plans to increase fleet capacity by 8 to 10 percent this
year. New Chief Executive Gerald Grinstein has vowed to cut costs
wherever possible.
A Delta spokeswoman declined to elaborate further.
In late 2001 Boeing agreed to push back more than 500 jets on order, the
equivalent of nearly two years of production at current reduced output
rates.
Boeing spokesman Nicolaas Groeneveld-Meijer declined to comment on the
likelihood of further order deferrals.
"Where possible, Boeing works with its customers for the benefit of the
commercial aircraft industry," Groeneveld-Meijer said.=20
=A92003 Reuters Limited.=20
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