The company has already lost $ 660 million developing the two 747 jets for the fleet following a 2018 deal made by Trump with the company that makes Boeing pay the bill for all cost changes in the development process. The new fleet was originally due to arrive in 2024, but according to CBS News, Boeing had predicted that the planes could be 17 months behind schedule. The deal was done under a different CEO – Calhoun took over at Boeing in January 2020, but was on the board when the deal was made. Calhoun told investors during a first-quarter performance review that the company “probably should not have received” the $ 3.9 billion fixed-price contract, but described the situation as unique and said they would still deliver great planes. The fixed price agreement means that Boeing is not in a position to charge the government for any cost overruns that may arise for any reason. “I’ll call Air Force One a very unique moment, a very unique deal, a very unique set of risks that Boeing probably should not have taken, but we’re here and we’re delivering great aircraft. “And we will recognize the costs associated with that,” said Calhoun. President Joe Biden, left, leaves Air Force One at Philadelphia International Airport early Saturday, April 23, 2022, to board the Marine One for a short trip to Wilmington, Del., Over the weekend. Andrew Harnik / AP The company says the higher costs are mainly due to higher supplier costs, higher prices for finalizing technical requirements and scheduling delays. Pandemic-related supply chain issues have plagued the world for the past two years. In December 2016, Trump wrote on Twitter that the cost to the program was “out of control, over $ 4 billion,” adding: “Order cancellation!” After that, the then CEO of Boeing, Dennis Muilenburg, met several times with Trump to discuss the Air Force One contract. At the time of the deal in 2018, the White House Trump said the deal would save taxpayers up to $ 1.4 billion. The first plane officially named Air Force One carried President Dwight D. Eisenhower in 1959, but it was President John F. Kennedy who brought the plane into the jet age. On Tuesday, White House spokeswoman Jen Psaki said she had no further details on Boeing’s delays.

Kathryn Watson

Kathryn Watson is a political reporter for CBS News Digital based in Washington, DC

title: “Boeing Probably Should Not Have Made A Trump Era Air Force One Deal Says Ceo Dave Calhoun Klmat” ShowToc: true date: “2022-11-11” author: “Diane Vaughn”

The company has already lost $ 660 million developing the two 747 jets for the fleet following a 2018 deal made by Trump with the company that makes Boeing pay the bill for all cost changes in the development process. The new fleet was originally due to arrive in 2024, but according to CBS News, Boeing had predicted that the planes could be 17 months behind schedule. The deal was done under a different CEO – Calhoun took over at Boeing in January 2020, but was on the board when the deal was made. Calhoun told investors during a first-quarter performance review that the company “probably should not have received” the $ 3.9 billion fixed-price contract, but described the situation as unique and said they would still deliver great planes. The fixed price agreement means that Boeing is not in a position to charge the government for any cost overruns that may arise for any reason. “I’ll call Air Force One a very unique moment, a very unique deal, a very unique set of risks that Boeing probably should not have taken, but we’re here and we’re delivering great aircraft. “And we will recognize the costs associated with that,” said Calhoun. President Joe Biden, left, leaves Air Force One at Philadelphia International Airport early Saturday, April 23, 2022, to board the Marine One for a short trip to Wilmington, Del., Over the weekend. Andrew Harnik / AP The company says the higher costs are mainly due to higher supplier costs, higher prices for finalizing technical requirements and scheduling delays. Pandemic-related supply chain issues have plagued the world for the past two years. In December 2016, Trump wrote on Twitter that the cost to the program was “out of control, over $ 4 billion,” adding: “Order cancellation!” After that, the then CEO of Boeing, Dennis Muilenburg, met several times with Trump to discuss the Air Force One contract. At the time of the deal in 2018, the White House Trump said the deal would save taxpayers up to $ 1.4 billion. The first plane officially named Air Force One carried President Dwight D. Eisenhower in 1959, but it was President John F. Kennedy who brought the plane into the jet age. On Tuesday, White House spokeswoman Jen Psaki said she had no further details on Boeing’s delays.

Kathryn Watson

Kathryn Watson is a political reporter for CBS News Digital based in Washington, DC