Boeing's $3.9 Billion Air Force One Contract Turns into Multi-Billion Dollar Disaster

Boeing's Air Force One contract has turned into a multi-billion dollar disaster. The company is writing off $280 million in the second quarter, four years behind schedule and over a billion dollars above budget. This is the largest loss in Boeing's history, dwarfing earlier projections of a 76-cent per share loss.

The project was initially estimated to cost $3.9 billion for two customized 747-8s, but changes requested by Trump's administration during his first term have caused massive delays and cost overruns. The planes are now expected to be delivered in 2028, with Trump flying on a borrowed plane from Qatar.

Despite this debacle, Boeing reported an eight percent increase in revenue to $24.6 billion, with a free cash flow of $631 million, up from a $200 million deficit last year. The company's production of the 737 MAX is also ramping up, with plans for 47 deliveries per month.