Blue Air has announced an agreement with Boeing to cancel its order for five 737 aircraft worth $462.2 million.
The Romanian low-cost carrier cited financial difficulties of one of its major shareholders, Romstrade SRL, as the reason for the cancelation.
Blue Air ordered the planes—two 737-900ERs and three 737-800s—in separate 2008 deals, and anticipated delivery in 2015 and 2016. Current operations will not be affected, the airline said.
Based in Bucharest, Blue Air currently operates a fleet of eight Boeing 737-300s, -400s and -500s. The planes have an average age of just over 20 years.
