Air Berlin scraps Boeing purchases worth US$5b

[NEW YORK] Boeing Co lost an order valued at almost US$5 billion as Germany's Air Berlin plc, struggling with losses and dwindling traffic, scrapped aircraft purchases that included the 787 Dreamliner.

Air Berlin, partly owned by Abu Dhabi's Etihad Airways PJSC, said it was abandoning a deal for 18 of Boeing's single-aisle 737s and 15 Dreamliners.

Chicago-based Boeing isn't due any compensation because of the cancellation, Air Berlin said in a statement.