Skip to main content

Market Overview

Boeing Gets Going On Air Force One That Trump Said Was Too Expensive

Share:
Boeing Gets Going On Air Force One That Trump Said Was Too Expensive

President Donald Trump, who berated Boeing Co (NYSE: BA) in December over the cost of the next-generation Air Force One, is closer to getting the aircraft whether he knows it or not.

The U.S. Defense Department said Wednesday that Boeing has been awarded $600 million to begin preliminary work on the presidential aircraft, including a communications system, electrical power upgrades, a medical facility, an executive interior, a self-defense system and autonomous ground operations capabilities.

As president-elect, Trump famously said on Twitter Inc (NYSE: TWTR) that the aircraft, meant to replace the current, 30-year-old jet, was too expensive.

“Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!” he tweeted.

2 For The Price Of One

It was unclear if the president was aware if the order — actually $3.73 billion over 12 years, including maintenance — was for two aircraft. One flies while another is kept maintained as a backup.

Since his tweet, however, Trump has been preoccupied with hurricanes, nuclear tests by North Korea, controversial comments about white supremacists, a failed healthcare plan, immigration imbroglios, intra-party feuds, administration turnover and ongoing investigations into Trump’s ties to Russia and whether his camp colluded with the Kremlin to smear Hillary Clinton.

Related Link: How Trump Has Alienated The World

_________
Image Credit: By USAF photo/Tech. Sgt. Jerry Morrison - Public Domain, via Wikimedia Commons

 

Related Articles (BA)

View Comments and Join the Discussion!

Posted-In: News Futures Contracts Politics Travel Markets Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com