Boeing losing a fortune on a pair of Air Force One Aircrafts

Boeing has lost roughly $2 billion in Air Force One deal

In 2018, Boeing signed a contract with the federal government to build a pair of aircraft that would serve as Air Force One.

Yet as Business Insider reported on Friday, that deal has turned into a financial disaster for the aerospace giant. Company has lost roughly $2 billion since taking on Air Force One project.

Boeing's third-quarter earnings report was released last week, and it showed that the company lost $482 million on construction of the two 747-200B jumbo jets.

Donald J. Trump @realDonaldTrump
Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order! 8:52 AM · Dec 6, 2016

No one expected Bidenomics! The company attributed the losses to higher-than-estimated manufacturing costs, engineering changes, labor instability, and negotiations with suppliers. And they had a fixed contract under Trump. The company has pushed the delivery date of the two jets back by another two years to 2026.

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