Money

Air Force One deal leaves Boeing $1bn short

Published

2 years ago

July 18, 2022

ticker NEWS

Boeing says they’ve learnt their lesson after falling three years behind schedule on US aircraft build

Boeing is feeling the burn after signing a contract to supply the US with a new Air Force One aircraft. Read more.

The build has now cost the planemaker almost $1 billion in charges, and is three years behind schedule.

The company’s defence chief, Ted Colbert, says there’s been “lessons learned,” after deliveries were pushed back on two planes to 2026 and 2027.

Colbert admits these types of contracts are challenging.

Air Force One involves a very unique negotiation and a very unique set of risks he says Boeing shouldn’t have taken.

The Boeing 747-8s used by the administration are designed to be an airborne White House… able to fly in worst-case security scenarios, such as nuclear war.

They are modified with military avionics, advanced communications and a high-tech self-defence system.

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Why are airlines after the Biden Administration?

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The mounting pressure on Government spends

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5 days ago

May 13, 2024

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