AIRLINE INDUSTRY INFORMATION-(C)1997-2006 M2 COMMUNICATIONS LTD

Israeli carrier El Al Israel Airlines has announced that it has cancelled its option to buy 10 787 aircraft from The Boeing company, an aircraft manufacturer.

The carrier said it had not come to an agreement with Boeing within the time scale set by the aircraft manufacturer. El Al Israel Airlines confirmed that Boeing had agreed to return its USD1.5m deposit for the aircraft, which were due to be delivered between 2012 and 2013.

The carrier, which has only purchased Boeing aircraft to date, stated that it is considering other options for aircraft, including Boeing and Airbus aircraft. Boeing confirmed its intention to continue working with the carrier, which it said had opted to take extra time to carry out additional fleet evaluation.

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According to Boeing, it will continue to communicate with the carrier with regard to its interest in the 787 and how the aircraft can meet its future requirements.

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