Boeing lost $660 million on Trump’s Air Force One deal
AxiosJul 28, 2022
Report: Boeing Lost $660M From Air Force One Deal with Trump
Image copyright: AP Photo [via The Washington Post]
The Facts
On Wed., Boeing CEO Dave Calhoun announced that the company lost $660M developing two Air Force One 747 jets following a deal with then-President Trump.
Calhoun said that the company shouldn't have agreed to the deal, which placed liability for cost changes on the company rather than taxpayers.
The Spin
Left narrative
It's pretty clear that the former president used the bully pulpit of the presidency to strongarm Boeing on this deal. Trump publicly cancelled the order while placing enormous stress on Boeing's access to other foreign markets, including most notably China.
Pro-Trump narrative
Acting as a responsible steward of US taxpayer dollars, Trump intervened and used his business genius to negotiate a better deal with Boeing. Now, after years of internal strife and high-profile product failures, management is trying to point fingers at the former president for its own setbacks.