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Boeing CEO regrets Air Force One deal with Trump.

https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Fstatic.politico.com%2F10%2Fad%2Fb7513dd6447d8a5ab7c4a915879a%2Fap20062586478686.jpg&f=1&nofb=1
Former President Trump in Oval Office in Air Force One discussions with Boeing. Credit: newstocheck.com

Boeing lost $1.1 billion on Trump Air Force One contract; CEO regrets deal

From CNBC:

  • Boeing has lost a total of $1.1 billion so far on costs associated with a deal to modify two 747 jumbo jets to serve as Air Force One.
  • CEO Dave Calhoun said Boeing “probably shouldn’t have taken” risks from the deal for the planes, which was negotiated with then-President Donald Trump in 2018.
  • Boeing reported a net loss of $1.2 billion for the first quarter of 2022, with a charge of $660 million associated with delays and higher costs for the Air Force One program.
  • Boeing’s deal for Air Force One, which was cut by then-CEO Dennis Muilenburg requires the company, not the federal government, to eat the costs of any overruns on the contract.

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Posted by Steve on April 27, 2022 at 2:15 pm | Permalink

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