The German airline group Air Berlin Plc. has decided to reduce its orders for 25 Boeing Co. 787 aircraft to 15, in view of the changing market scenario.

By removing the order for 10 aircrafts, the company saved an amount of $1.7 billion.

Air Berlin, Germany's second largest airline after Deutsche Lufthansa AG, said the decision is part of an effort to adapt to market conditions and to meet its specific operative requirements.

The company explained that it has postponed the delivery of 9 Boeing 737 aircraft till 2015. The original delivery of these aircrafts was scheduled to be made in 2010 or 2011.

Air Berlin's chief financial officer, Ulf Huettmeyer clarified that the decisions were consensual for both the companies.

"For Air Berlin, the agreement means a significant reduction of its financial obligations due to lower and much more distributed investment profile", he said.

He further said that he has been looking forward to 787 aircraft's delivery in November 2015. He expressed his gratitude towards Boeingfor developing this category of aircraft, also known as Dreamliner.

The shares of Air Berlin dipped by 0.5% in trading in Xetra.