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The Fiscal Times

Boeing Expects to Lose $1.1 Billion on Air Force One Contract

Boeing CEO Dave Calhoun said Wednesday that the aerospace giant lost $660 million in the first quarter on the project building new presidential jets. Former President Donald Trump in 2018 famously renegotiated the contract for the pair of 747s, which are referred to as Air Force One when the president is on board. The new agreement established a fixed-price contract worth $3.9 billion, placing all the risks of cost overruns on Boeing. “Air Force One — I’m just going to call a very unique moment,

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