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Aeroflot cancels $5.5 billion Boeing 787 Dreamliner order

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Aeroflot cancels $5.5 billion Boeing 787 Dreamliner order

Pressure continues to mount for planemaker Boeing after Russian carrier Aeroflot cancelled its $5.5 billion order for 22 787 Dreamliner aircraft.

The cancellation was long overdue, Aeroflot had previously pointed out as far back as 2015 that it no longer needed the planes.

For Boeing, the lost business will make a dent in the company's production rates for the 787 Dreamliner. The planemaker had previously increased its build rate to 14 aircraft per month from 12.

Reuters is reporting Boeing may have to cut back production by 2022, citing industry sources. This adds increased pressure on the company with the 737 MAX grounding set to enter its eighth month.

Boeing now has a total order book of 1,450 Dreamliners through September, with 894 of those delivered.