Garuda Indonesia confirmed yesterday that it has canceled its orders for 10 787s.
The order originally was placed in September 2005. President and CEO Emirsyah Satar told ATWOnline here that the commitment has been swapped for 10 777-300ER orders. "We simply couldn't wait for the 787," he said. This year Garuda will take delivery of 23 737-800s and one A330-200 as part of its ongoing Quantum Leap program that will see its fleet grow from 58 in 2008 to 116 in 2014 comprising 90 737-800s, 20 A330s and six 777-300ERs. It plans to launch an IPO in the second half of 2010 to raise $300 milli