Leasing company slashes 787 order

Leasing company slashes 787 order
A Boeing 787 at is seen at Boeing Co.'s airplane assembly plant in Everett, Wash., Friday, Jan. 30, 2009.
DUBAI, United Arab Emirates (AP) - Boeing says a Dubai company established to lease the Chicago-based plane maker's latest model has slashed its order by more than three-quarters.

A Boeing Co. regional spokesman says the decision by LCAL is its first Middle East cancellation since the credit crisis began.

LCAL cut its order for the delay-plagued 787 Dreamliner to five from 21 planes.

Fakher Daghestani, Boeing's communications manager in the Middle East, says the move has nothing to do with delays that have plagued the 787's development. Rather, he says the company is "facing challenges."

The Dubai-based leasing company could not be reached for comment.