Air France-KLM postpones jet orders

Article reports that Air France-KLM would cut capital investment in the period 2009-2010 in the face of the growing uncertainties in the global economy. Over the next two years, it would reduce capital spending by €1.4bn as the airline tries to prioritise saving cash over buying new aircraft. The move means Europe’s biggest airline will postpone taking delivery of new fuel-efficient aircraft and will, instead, continue flying older, less-efficient models. It underlines the growing threat to the order books of Boeing and Airbus, the world’s duopoly makers of big jets.