AEROSPACE & DEFENSE
From Times Staff and Wire Reports
Boeing Delays GPA Deliveries: Boeing Co. said it had reached a preliminary agreement with GPA Group, the world’s largest airplane leasing firm, to delay delivery of some of the 154 jets GPA has ordered by up to three years. Seattle-based Boeing said the agreement does not involve cancellation of any orders from cash-strapped GPA. The Dublin, Ireland-based aircraft leasing firm announced a major restructuring of its order book. It said that total orders through the year 2000 will be reduced from $12 billion to $5 billion. GPA has been buffeted by the global recession in the aviation industry and hit by a liquidity squeeze.
