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.

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