Boeing Absorbs $3B Air Force One Cost Overrun
2 sources · first reported 6h ago
Boeing is paying out of pocket to cover cost overruns for the Air Force One project, with the first fully-equipped VC-25B jet expected to be delivered in 2028. The project has been delayed for many years, and Boeing has now eaten $3B in cost overruns. The company is committed to delivering the jet despite the significant financial burden.
Why it matters
The Air Force One project is a high-profile defense modernization effort, and the cost overruns have significant implications for the US Air Force's budget and acquisition plans. The project's delays and cost increases also reflect broader challenges in defense procurement and contractor management.
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