Boeing's contract to build the next Air Force One aircraft is facing significant delays and cost overruns, exceeding $2 billion. The company blames design changes, labor shortages, and supply chain issues. President Trump, who negotiated the deal during his first term, is reportedly working with SpaceX CEO Elon Musk to expedite the project and reduce costs. It remains uncertain if the aircraft will be delivered before Trump's current term ends.
Boeing's Air Force One program is more than $2 billion over budget and the aircraft have been delayed.The pair of Boeing 747s that will serve as the next Air Force One aircraft are more than $2 billion over budget and years late, which the company has attributed to design changes, labor constraints and supply chain problems. Presidentstruck a deal for the aircraft during his first term, after threatening to"cancel order!" before he took office in 2017, complaining about high costs.
"We've been engaged with Elon" on the Air Force One program to eliminate costs and deliver the aircraft earlier, Ortberg said in an interview with CNBC'sIt is not clear whether the aircraft will be delivered before Trump's current term is up. An Air Force spokesperson told CNBC that an updated delivery schedule from Boeing is expected in the spring.
Trump cut a cake adorned with a model of Air Force One — in a new paint scheme — with a sword at his Jan. 20 inaugural ball.United Airlines’ first-quarter outlook outpaces estimates after profits surge to end 2024competes with Boeing's space unit, has worked closely with Trump in recent months. The billionaire is also heading Trump's commission that he tasked with reducing government spending.
Boeing in the last quarter took $1.7 billion in pretax charges in its defense and space unit, including for the Air Force One program. Ortberg, who became CEO in August,
AIR FORCE ONE BOEING BUDGET OVERRUNS DELAYS ELON MUSK
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