BA
RYCEY
Air Force One, but make it expensive
Boeing says the next-generation Air Force One jets are still on track for a 2028 delivery, which is corporate-speak for: yes, we’re still working on it, and no, it’s not getting cheaper. The company said the timeline means more “cost growth” because wiring, structural work, and certifications are still chewing through time and money.
The program, which started with a $3.9 billion contract in 2018, is now about four years behind schedule and has blown past $5 billion in total costs. That’s not exactly the kind of headline that makes investors fist-pump. For Boeing, it’s another reminder that defense programs can look sturdy on paper and then turn into a marathon with surprise hills.
Why investors should care
This is less about a single plane and more about Boeing’s ability to execute on big, complicated government work without the budget meter spinning like a taxi in Manhattan.
- The Air Force One project is still moving, but the budget overrun keeps growing.
- More delays can mean more scrutiny from Washington, which is never a fun side quest.
- And when Boeing talks about certifications and structural work, that usually translates into more time before cash and credibility stop leaking.
Not just one airplane
Boeing also said it kicked off a fuel-efficiency and noise-reduction flight-testing partnership with Deutsche Lufthansa and Rolls-Royce using a 787-9 Dreamliner powered by Trent 1000 engines. Nice headline, but the Air Force One news is the bigger market-moving bit because it hits Boeing’s reputation for delivery discipline right where it hurts.
Big picture: Boeing can still land the plane — it’s just doing it with a heavier invoice attached.