Boeing hikes price tag for Air Force One contract - WSJ
Jun. 08, 2021 8:38 PM ETThe Boeing Company (BA)BABy: Carl Surran, SA News Editor62 Comments
- Boeing (NYSE:BA) estimates the new Air Force One jets it is building may arrive a year late and cost more than planned, a top Pentagon official said today during testimony before a House panel.
- The company has proposed handing over the two new presidential jets by the end of 2025, a year later than planned, according to the testimony.
- Boeing agreed to a $3.9B deal in 2018 to replace the aging planes, but it is expected to request more than $500M in additional government funding for the two jets because of an increase in costs related to COVID-19 and a supplier's bankruptcy, WSJ reports.
- The delay comes as Boeing has faced various setbacks in recent years, including last month's suspension of deliveries of the 787 Dreamliner to address questions from U.S. air safety regulators.