Japan's ANA cancels 787 flights through May 31

Japan's All Nippon Airways has taken its Boeing Co. 787 off its flight schedule through the end of May.

The launch carrier for the Dreamliner, ANA said late Sunday that is extending the cancellation of 787 flights through May 31. The airline previously had taken the 787 off flights through the end of March.

Boeing's 787 was grounded by federal authorities Jan. 16, following two mishaps with 787 batteries.

Ray Conner, president of Boeing Commercial Airplanes, met Friday with the administrator of the Federal Aviation Administration to propose a fix to return the 787 to commercial service. If the FAA approves of Boeing's solution, the 787 could begin carrying passengers again as early as April.

But airlines like ANA aren't banking on a speedy solution. Last week, United Airlines, the only U.S. carrier to operate 787s, removed the jet from its schedule through June 5. And LOT Polish Airlines is keeping the 787 grounded through October.

The chairman of Japan Airlines, which had seven 787s when the grounding occurred, said he was already considering buying from other jet makers when the FAA took action. JAL's chairman told CNBC that his airline's strategy of an all-Boeing fleet is "abnormal."