Business

Tuesday 24 October 2017

Trump tweet threat to cancel Air Force One order hits Boeing shares

Rick Clough

SHARES in US plane maker Boeing fell yesterday after President-elect Donald Trump said the latest Air Force One order should be cancelled.

He slammed what he called "ridiculous" costs to update the plane, a symbol of presidential power.

"Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4bn," Mr Trump said on Twitter. "Cancel order!"

"We are currently under contract for $170m to help determine the capabilities of this complex military aircraft that serves the unique requirements of the President of the United States," Boeing said in a statement.

"We look forward to working with the US Air Force on subsequent phases of the programme allowing us to deliver the best plane for the president at the best value for the American taxpayer," the company added.

Irish Independent

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