fbpx

YOUR GUIDE TO STAYING INFORMED IN THE MARKETS

Subscribe for FREE Email Updates & Access To EXCLUSIVE Research!

Boeing States Possible Delay & Price Rise For Air Force One Contract

By John F. Heerdink, Jr.

Reportedly, Boeing Co (BA) has informed that there may be delays and that intend raise the price of the next-generation presidential aircraft due to COVID-19 delays and a subcontractor.  Boeing received a $3.9-billion contract in July 2018 to build two 747-8 aircraft for use as Air Force One, set for delivery by December 2024. 

The aerospace giant requested for extra time of about a year to deliver, informed Darlene Costello, the air force’s acting assistant secretary for Acquisition to a panel of the Armed Services Committee of the House of Representatives. The planemaker also sent the Air Force a letter beginning the process to negotiate a price adjustment for the jets, Costello added.

A Boeing spokesperson told Reuters, “We continue to make steady progress on these programs and are working closely with the U.S. Air Force.”

The 747-8s aircraft are equipped to operate in worst-case security scenarios like nuclear war and are modified with military avionics, advanced communications, and a self-defense system.

Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space, and security systems. To learn more about Boeing (BA) and to track its ongoing progress please visit the Vista Partners Boeing (BA) Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.

(Read Original Story: Boeing lifts price tag for Air Force One contract - USAF official in Reuters)


YOUR GUIDE TO STAYING INFORMED IN THE MARKETS

Subscribe for FREE Email Updates & Access To EXCLUSIVE Research!

Connect with us