Boeing Slams into Red Ink Again on Troubled AF1 Program

Boeing's financial woes continue to grow as the company records another $280 million loss on its Air Force One replacement program. The total losses now exceed $3 billion since 2017, with the latest loss attributed to added production and certification costs for the VC-25B program.

The VC-25B is a converted version of the 747-8, which will serve as the presidential transport. Despite the significant losses, the Air Force maintains its target delivery date of 2028 for the first aircraft, with the second due in 2029.

Boeing's aversion to fixed-price military contracts may have a lasting impact on future procurement efforts. The company has already faced losses on other projects, including the KC-46 and Starliner programs.