Qantas Cancels Massive Boeing Order

Qantas Airways has dealt a heavy blow to Boeing's troubled Dreamliner project with the cancellation of a major order, Bloomberg reports. The Australian airline scrapped an order for 15 of the 787s, and deferred an order for 15 more. Qantas said the move was due to industry conditions and not delays with the aircraft, which is already two years behind schedule.

Boeing announced earlier this week that the aircraft's first test flight has been delayed for a fifth time. "It wouldn't surprise me at all if we see more deferrals and more cancellations," said one analyst. "The aviation industry is suffering very badly. The Boeing delays give the airlines an opportunity to pull out or defer." (More Qantas stories.)