Costs of 787 Dreamliner's Grounding Keep Adding Up
byJan 31st 2013 6:55AM
Japanese airline All Nippon Airways, which has been affected as much as any other carrier by the grounding of the Boeing Co. (NYSE: BA) 787 Dreamliner, apparently has started to keep a tab on how much the grounding has hurt its sales.
Other airlines hurt by the mechanical problems of the Dreamliner likely will start to add up damages as well. Aside from lost sales as airlines halt delivery of the 787 because of the debacle, Boeing will face a series of demands for reparations.
ANA, valued at close to $7 billion, said it had not yet decided whether to claim compensation from Boeing, and it had no plans, for now, to change a growth strategy that has the technologically advanced 787 at its core. But it conceded that a prolonged grounding of the plane would impact that strategy, and will delay issuing its mid-term business plan for several weeks.
"We have not decided on our right to demand damages, but naturally going ahead, if a damage amount is decided for the incident, we will negotiate," Chief Financial Officer Kiyoshi Tonomoto said at a briefing on ANA's quarterly results.
Filed under: 24/7 Wall St. Wire, Aerospace, Airlines Tagged: BA