Money

Trump’s deal with Air Force One causing turbulence for Boeing

Published

4 years ago

April 28, 2022

Former US President Donald Trump’s new deal for Air Force One wasn’t good for Boeing

The plane-maker’s chief executive says it was a bad deal and expects a loss of over 1 billion dollars on the two planes for the White House.

Trump renegotiated the Boeing contract, calling the initial deal too expensive.

The new agreement made Boeing, not taxpayers, responsible for changes to costs.

“Air Force One” is a name used for any aircraft carrying the US president.

However the term is mostly used to refer to the two highly customised Boeing 747 jets.

Before Trump was elected, the US government had a 4 billion dollar contract with Boeing to build two or more new planes.

This was cancelled when Trump became President.

Boeing Chief says Covid and inflation is to blame too, but during a conference call with investors the chief said there were a very unique set of risks that Boeing probably shouldn’t have taken” during the Air Force One talks.

Boeing is a major government and defence contractor for the U-S and design planes for the White House that are able to fly in worst-case security scenarios.

The planes were supposed to be delivered by 2024 but are behind schedule, according to reports.

FILE – In this file photo a Boeing 777X airplane takes off on its first flight with the Olympic Mountains in the background at Paine Field in Everett, Wash. Boeing is reporting another huge loss, this one because of a setback to its 777X widebody jetliner. Boeing said Wednesday, Jan. 27, 2021, it lost $8.4 billion in the fourth quarter on weaker demand for planes during the pandemic. (AP Photo/Ted S. Warren, File)

Boeing disclosed it has lost $660 million this quarter on the programme.

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U.S. dollar weakens while Australian dollar rises amid global market shifts

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3 days ago

January 30, 2026

Harvey Vargas

US dollar weakens as Trump comments; Australian dollar gains from commodity prices and RBA rate hike expectations

The US dollar is coming under pressure as the economy remains strong and President Trump comments on its decline. We explore how this is impacting major currencies around the world and what it means for investors.

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Wall Street slides as AI spending raises investor concerns

Wall Street dips as AI spending scrutiny rises; Microsoft struggles while Meta thrives. Tune in for insights!

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3 days ago

January 30, 2026

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Wall Street dips as AI spending scrutiny rises; Microsoft struggles while Meta thrives.

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Money

Tesla brand value plummets amid Elon Musk’s political focus

Tesla’s brand value plummeted to $27.61 billion in 2025 amid Musk’s political shift, sparking investor concern.

Published

6 days ago

January 28, 2026

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Tesla’s brand value plummeted to $27.61 billion in 2025 amid Musk’s political shift, sparking investor concern.

Tesla’s brand value plummeted by $15.4 billion in 2025, falling to $27.61 billion from $66.2 billion in early 2023. Analysts say Elon Musk’s political focus and a slowdown in new models have distracted the company’s core business.

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