Boeing: Air Force One overruns top $3B, $280 million loss reported
Boeing just shared that cost overruns for the Air Force One project have exceeded $3 billion, with an extra $280 million loss related to the project.
The original contract was signed back in 2018 under President Trump.
CEO Kelly Ortberg attributed the loss to adding resources to support the build and test schedule and mitigate risks during certification.
New Air Force One jets delayed
The first of the new jets was supposed to arrive by December 2024, but now the first will not be ready until mid-2028 and the second until mid-2029, about three and a half years late (first delivery delayed from December 2024 to mid-2028).
Outfitting these planes with advanced technology and defense systems is complicated.
For now, two older Boeing 747s from the 1990s are still flying as Air Force One, while a temporary jet donated by Qatar was recently pulled for upgrades.
The White House has not commented yet on Boeing's update.