President Donald Trump’s anger over delays in delivering new Air Force One jets could have severe consequences for Boeing, a company already struggling with production problems and financial losses.
The delays are not just a matter of cost overruns but also the complexity of transforming a commercial jet into a secure flying command center capable of protecting the president. Boeing has been working on this project since 2018, when Trump negotiated a $4 billion deal for two new jets.
Despite the company’s efforts, Boeing is facing significant challenges, including supply chain issues and a shortage of workers with security clearance to work on the plane. The pandemic also hit Boeing hard, further complicating the production process.
The delays have resulted in significant losses for Boeing, with the company reporting $2.5 billion in losses on the contract so far. The original deal was supposed to be worth $4 billion, but due to the complexity of the project and safety features required, the costs have ballooned.
Boeing CEO Kelly Ortberg said he is “all in” on trying to speed up the delivery, with help from Elon Musk, who has been working closely with the company. However, Trump’s frustration over the delays suggests that the situation may not improve anytime soon.
The Air Force One project is just one part of Boeing’s broader struggles, which include operating losses of $5.4 billion last year and a 20-month grounding of its best-selling plane due to fatal crashes. The company’s financial woes are likely to have far-reaching consequences for investors and the wider aviation industry.
Source: https://edition.cnn.com/2025/02/21/business/trump-boeing-air-force-one-problems/index.html