Boeing loses hundreds of millions of dollars on Air Force One contract

Boeing continues to lose millions of dollars on its contract to build two new Air Force One planes. The aircraft maker recently reported a 482-million dollar loss on its contract with the Air Force to build two new presidential jets because of higher estimated manufacturing costs. Five years ago, Boeing agreed to a fixed-price contract to build two new planes to serve as Air Force One and replace the current fleet, which is 31 years old. According to the Air Force, the first new presidential plane is expected to start flying in 2027– several years behind schedule.