Boeing's Air Force One Project Turns into Costly Disaster

Boeing is facing a financial nightmare as the production of two Air Force One planes for former President Donald Trump has turned into a costly disaster. The project, signed in 2018 with a fixed price of $3.9 billion, is now expected to cost over $1 billion more than initially planned.

The planes were originally scheduled to be delivered in 2024, but the new target date is 2028, four years behind schedule. Boeing has already written off $280 million in the second quarter alone, making it the company's most expensive failure ever.

Trump is currently using a different plane lent by Qatar, which has been a diplomatic solution for Boeing. The production of commercial planes, on the other hand, is going smoothly with an eight percent increase in sales to $24.6 billion and a positive free cash flow of $631 million.