Boeing Has Now Lost More Than $1 Billion on Each of Air Force … – Slashdot
Cost overruns for the new Air Force One jets continue to pile on massive losses for Boeing. From a report: Boeing on Wednesday reported another $482 million in red ink on the contract to retrofit two 747 jets into the next generation of the presidential plane. Boeing has now lost more than $1 billion on each of the two jets. The company has been reporting losses on the planes for years, as CEO Dave Calhoun admitted last year that the company should never have signed the contract with the Air Force to produce the jets for $3.9 billion. Supplier costs have soared since then, and the delivery date has been continually pushed back. Boeing took $1.45 billion in losses on the planes last year, and $318 million in 2021.
“Air Force One, I’m just going to call a very unique moment, a very unique negotiation. A very unique set of risks that Boeing probably shouldn’t have taken,” Calhoun said in April last year when discussing $660 million of those losses reported at that time. “But we are…
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