Boeing Reels as Air Force One Costs Soar to $3 Billion - Internewscast Journal
Boeing Reels as Air Force One Costs Soar to $3 Billion

Boeing disclosed Tuesday on its earnings call that it has absorbed another substantial financial setback tied to its effort to build and deliver two new Air Force One presidential aircraft.

The aerospace giant said it recorded an additional $280 million loss on the long-delayed program, pushing total cost overruns on the project past $3 billion.

“While the charge is disappointing, we recognize how critical schedule performance is to our customer and we are investing accordingly to maintain our commitment to deliver the airplane in 2028,” Boeing CEO Kelly Ortberg said during the call.

The first of the two new planes is not expected to be ready until mid-2028. U.S. Air Force

Ortberg said the latest charge stems from Boeing’s move to “add significant resources to support the build and test schedule” for the two military versions of the Boeing 747. He said the added investment is intended to “help mitigate potential risk during certification and flight test.”

The financial burden falls on Boeing under the $3.9 billion contract President Trump signed with the company in 2018, which makes the defense contractor responsible for any cost overruns associated with the Air Force One replacement program.

Before the latest charge, Boeing’s reported cost overruns on the program had reached $2.8 billion in 2024, Aviation Week reported.

Boeing had originally pledged to deliver the first of the two new presidential jets by December 2024. But the program is now “almost 3 years behind its current baseline schedule,” the Government Accountability Office said in a report released earlier this month.

The company’s current timeline calls for the first aircraft to be delivered in “mid-2028,” followed by the second in “mid-2029.”

At the moment, the US has two old Boeing 747-200 jumbo jets for Air Force One — the designation for any airplane that the president is on — which have been in operation since the 1990s.

The illuminated Boeing logo and name against a twilight sky.

Boeing announced that it took another $280 million hit on the Air Force One project on Tuesday. AFP via Getty Images

Trump has also used a luxurious, $400 million jet donated by Qatar – dubbed the “palace in the sky” – as the presidential plane, but it was taken out of service earlier this month to boost its anti-missile defenses.

Air Force One jets have to be equipped with state-of-the-art communications and defensive systems to protect the commander-in-chief, which makes their development expensive and complicated.

Trump has long complained about Boeing’s cost overruns and delays for the new Air Force Ones. 

The White House did not immediately respond to The Post’s request for comment.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

North Carolina human remains identified as Cindy Marcell Blizzard, 15, missing since 1977

North Carolina Remains ID’d as Cindy Blizzard, Missing Since 1977

Investigators in North Carolina say they have solved a key mystery in…
Drunk Florida woman Elizabeth Boucher arrested for DUI after Daytona Beach crash

Elizabeth Boucher Arrested for DUI After Daytona Beach Crash

A Florida DUI arrest took an unusually emotional turn. A woman accused…
Philippines defense chief calls out China after note interrupts remarks at Seoul forum: 'Coercion, bullying'

Philippines Defense Chief Slams China’s Bullying at Seoul Forum

Philippine Defense Secretary Gilberto C. Teodoro sharply criticized China on Tuesday after…
Karmelo Anthony photographed with guns as docs reveal alleged history of rage, threats and violence

Karmelo Anthony Seen With Guns as Court Documents Detail Alleged Threats, Rage and Violence

911 call captures chaos after Austin Metcalf stabbing Anthony was found guilty…
Corie Walsh, Frankfort mom accused of killing 2-year-old Barrett Walsh, is held; witnesses say she discussed Lindsay Clancy trial

Corie Walsh Held in Son’s Killing; Clancy Trial Discussed

FRANKFORT, Ill. — A Will County judge on Tuesday ordered Corie Walsh…
Diana Galvez Ortega Amber Alert issued amid search for teen girl, dad

Amber Alert for Diana Galvez Ortega: Teen and Dad Sought

Authorities in California are searching for a man accused of raping and…
Judge orders Alex Murdaugh murder retrial moved to nearby county

Judge Moves Alex Murdaugh Murder Retrial to Nearby County

Phil Barber testifies in Murdaugh request to move trial to Charleston In…
Long Island jeweler, 71, released from brutal Iranian prison after more than a year -- but still banned from leaving the country

Long Island Jeweler, 71, Freed From Notorious Iranian Prison After More Than a Year — But Barred From Leaving Iran

A Long Island jeweler who spent more than a year in custody…
Indiana man Martell Pickens faces reckless homicide after fatally shooting Khadolphee Taylor outside Fort Wayne home

Martell Pickens Charged With Reckless Homicide in Fatal Shooting of Khadolphee Taylor Outside Fort Wayne Home

An Indiana homeowner has been charged after authorities say he fatally shot…
Data shows Amazon jet’s key braking systems did not deploy during deadly Miami crash: NTSB

NTSB: Amazon Jet Brakes Didn’t Deploy in Deadly Miami Crash

Federal investigators said Tuesday that crucial braking mechanisms appear not to have…
NYPD hunting for antisemitic brute who slapped victim's yarmulke off in NYC attack

NYPD Hunts Suspect in Antisemitic NYC Yarmulke Attack

New York City police are seeking the public’s help identifying a man…
Family of victims in 130mph LA crash storm out of court at Nicole Linton trial

Families of Victims in 130mph Los Angeles Crash Leave Court During Nicole Linton Trial

Family members of those killed in a horrific Los Angeles crash left…