Dubai Aerospace Cancels 32 of Boeing's (NYSE:BA) 737 Jets Ordered

Boeing (NYSE:BA) was dealt a huge blow as Dubai Aerospace has cancelled half its orders from the company for 737 jets, totaling 32 jets lost to the company.

The amount of the lost orders comes to around $2.3 billion.

Dubai Aerospace, a state-owned company, continues to weigh whether they should drop other aircraft orders as well, as demand to lease aircraft continues to decline.

Taking into account cancellations and orders for the 737, Boeing had 0 net orders for the aircraft in January.

Dubai Aerospace launched in 2006 at the height of a booming air-travel market, wanting to become the world's leader in leasing planes.

While the loss of order totalled $2.3 billion, normally leasing companies buy under list price, so the actual loss to Boeing may be under that figure, but substantial nonetheless.

Boeing closed Thursday at $70.98, losing $0.02, or 0.03.