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Boeing CEO Bemoans Trump’s Air Force One Deal After Charge

  • Cumulative losses stand at $1.14 billion on two-jet pact
  • Company is recalibrating strategy on fixed-price contracts
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Why Shares of Boeing Are Plunging
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Boeing Co. shouldn’t have taken up former President Donald Trump’s demand to lowball its pricing on the next Air Force One fleet, the planemaker’s top boss said Wednesday.

“Air Force One, I’m just going to call a very unique moment, a very unique negotiation,” Chief Executive Officer Dave Calhoun said on a call to discuss quarterly earnings. The deal struck with the administration involved “a very unique set of risks that Boeing probably shouldn’t have taken.”