Boeing Air Force One

CEO David Calhoun said Wednesday that Boeing probably should not have taken the fixed-cost contract, which makes the company responsible for cost overruns. But, ...

Boeing shouldn't have taken up former President Donald Trump's demand to lowball its pricing on the next Air Force One fleet, the planemaker's top boss ...

The deal struck with the administration involved "a very unique set of risks that Boeing probably shouldn't have taken." Calhoun said that Boeing has abandoned its former strategy of undercutting competitors to gain defense franchises. Retrofitting already built airplanes with missile defense systems, nuclear-hardened communications and bespoke cabins has proved challenging for Boeing.

The taxpayer-friendly terms agreed under the former President in 2018 means it is running already more than $1.1 billion above budget.

Part of the hefty 12.5% intraday decline also stemmed from news of a delay to the 777-9 civilian aircraft program due to a rigorous certification process. The existing pair of converted 747-200Bs delivered to President Bush Sr. back in 1990 are designed to have unlimited range, since they can refuel midair. On Wednesday, investors abandoned Boeing in droves, bailing out as shares entered a tailspin. The bulk of that, around $660 million, were booked the first quarter of this year alone. The reason is that the Air Force One program is not indexed to inflation — Boeing is forced to sit on cost increases that have accrued and were not entirely foreseeable at the time. Weeks before Trump even took the oath of office, the president-elect complained in December 2016 that costs for the new Air Force One were spiraling out of control and—according to him—were already estimated at over $4 billion.

Boeing's CEO is lamenting the deal that his company cut with former President Donald Trump to produce new Air Force One jets.

Boeing sued a subcontractor that it blamed for delays last year. The company lost $1.2 billion and took a $660 million write-down for Air Force One. The work is taking place in San Antonio, Texas.

Supply-chain constraints and changes to government contracts drove a nearly 25% decline in revenue on defence programs year-over-year.

Trump communicated his dissatisfaction about delays and cost overruns via Twitter and apparently pushed the Pentagon into tough negotiations with Boeing to drive down those costs. The largest overrun charges were on Boeing’s VC-25B Air Force One programme. Defence sales in the first quarter of 2022 were valued at $5.5 billion.

In an earnings call on Wednesday Calhoun appeared to suggest that former President Donald Trump got the better of the country's biggest company in the deal, ...

“But we are where we are, and we’re going to deliver great airplanes.” The procurement process was well underway when Trump intervened shortly after being sworn in and when the fixed-cost deal was announced he claimed he’d saved taxpayers $1.4 billion. Boeing CEO Dave Calhoun says the company will lose $660 million on the $4 billion deal it signed to build two new replacements for the VC-25 executive transports that are often used as Air Force One. In an earnings call on Wednesday Calhoun appeared to suggest that former President Donald Trump got the better of the country’s biggest company in the deal, which the former president negotiated personally.

The Boeing YF-118G seem like it belongs in a sci-fi show like Star Trek. However, the contribution it made to stealth technology is clear.

The aircraft made its final flight in 1999 and it was declassified three years later when its design techniques had become standard practice. The secret project to develop and test the stealth aircraft ran from 1992 to 1999. Boeing YF-118G – A History: The National Museum of the United States Air Force at Wright-Patterson Air Force Base (AFB), Dayton, Ohio is home to more than 360 aircraft and missiles spread out in four specially-built massive hangers.

In an earnings call, Boeing CEO David Calhoun said the company "probably shouldn't have taken" a deal in 2018 negotiated by then-President Trump to build ...